TENGASCO, INC.
ESTIMATED
FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN
LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF
DECEMBER 31, 2002
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
[LOGO] RYDER SCOTT COMPANY
---------------------
PETROLEUM CONSULTANTS FAX (713) 651-0849
1100 LOUISIANA SUITE 3800 HOUSTON, TEXAS 77002-5218 TELEPHONE (713) 651-9191
February 10, 2003
Tengasco, Inc.
603 Main Avenue, Suite 500
Knoxville, Tennessee 37902
Gentlemen:
At your request, we have prepared an estimate of the reserves, future
production, and income attributable to certain leasehold and royalty interests
of Tengasco, Inc. (Tengasco) as of December 31, 2002. The subject properties are
located in the states of Kansas and Tennessee. The income data were estimated
using the Securities and Exchange Commission (SEC) requirements for future price
and cost parameters.
The estimated reserves and future income amounts presented in this
report are related to hydrocarbon prices. Hydrocarbon prices in effect at
December 31, 2002 were used in the preparation of this report as required by SEC
rules; however, actual future prices may vary significantly from December 31,
2002 prices. Therefore, volumes of reserves actually recovered and amounts of
income actually received may differ significantly from the estimated quantities
presented in this report. The results of this study are summarized below.
SEC PARAMETERS
Estimated Net Reserves and Income Data
Certain Leasehold and Royalty Interests of
TENGASCO, INC.
As of December 31, 2002
------------------------------------------------------------
Proved
-------------------------------------------------------------------
Developed
----------------------------- Total
Producing Non-Producing Undeveloped Proved
----------- ------------- ----------- ------------
NET REMAINING RESERVES
Oil/Condensate - Barrels 1,108,293 154,814 212,792 1,475,899
Gas - MMCF 6,593 5,849 14,157 26,599
INCOME DATA
Future Gross Revenue $56,904,962 $27,996,664 $63,722,271 $148,623,897
Deductions 30,088,742 3,193,124 16,380,027 49,661,893
----------- ----------- ----------- ------------
Future Net Income (FNI) $26,816,220 $24,803,540 $47,342,244 $ 98,962,004
Discounted FNI @ 10% $14,795,442 $ 7,423,227 $24,429,351 $ 46,648,020
1100, 530 8TH AVENUE, S.W. CALGARY, ALBERTA T2P 3S8 TEL (403) 262-2799
FAX (403) 262-2790
600 17TH STREET, SUITE 1610N DENVER, COLORADO 80202-5416 TEL (303) 623-9147
FAX (303) 623-4258
Tengasco, Inc.
February 10, 2003
Page 2
Probable
----------------------------------------- Total
Developed Total Possible
Behind Pipe Undeveloped Probable Undeveloped
----------- ----------- ---------- -----------
NET REMAINING RESERVES
Oil/Condensate - Barrels 0 52,167 52,167 0
Gas - MMCF 16 0 16 2,228
INCOME DATA
Future Gross Revenue $66,185 $1,414,952 $1,481,137 $9,119,069
Deductions 0 780,565 780,565 3,324,582
------- ---------- ---------- ----------
Future Net Income (FNI) $66,185 $ 634,387 $ 700,572 $5,794,487
Discounted FNI @ 10% $32,968 $ 259,925 $ 292,893 $3,185,002
Liquid hydrocarbons are expressed in standard 42 gallon barrels. All
gas volumes are sales gas expressed in millions of cubic feet (MMCF) at the
official temperature and pressure bases of the areas in which the gas reserves
are located.
The future gross revenue is after the deduction of production taxes.
The deductions comprise the normal direct costs of operating the wells,
recompletion costs and development costs. The future net income is before the
deduction of state and federal income taxes and general administrative overhead,
and has not been adjusted for outstanding loans that may exist nor does it
include any adjustment for cash on hand or undistributed income. No attempt was
made to quantify or otherwise account for any accumulated gas production
imbalances that may exist. Gas reserves account for approximately 73.6 percent
and liquid hydrocarbon reserves account for the remaining 26.4 percent of total
future gross revenue from proved reserves.
The discounted future net income shown above was calculated using a
discount rate of 10 percent per annum compounded monthly. Future net income was
discounted at four other discount rates which were also compounded monthly.
These results are shown on each estimated projection of future production and
income presented in a later section of this report and in summary form below.
Discounted Future Net Income
As of December 31, 2002
-------------------------------------------------
Discount Rate Total Total Total
Percent Proved Probable Possible
------------- ----------- -------- ----------
5 $63,186,507 $441,915 $4,284,225
15 $36,681,296 $200,900 $2,378,901
20 $29,900,086 $140,905 $1,783,727
25 $24,979,299 $100,066 $1,341,618
The results shown above are presented for your information and should
not be construed as our estimate of fair market value.
RESERVES INCLUDED IN THIS REPORT
The PROVED RESERVES included herein conform to the definition as set
forth in the Securities and Exchange Commission's Regulation S-X Part 210.4-10
(a) as clarified by subsequent Commission Staff Accounting Bulletins. The
PROBABLE RESERVES and POSSIBLE RESERVES included herein conform to definitions
of probable and possible reserves approved by the SPE/WPC using the
deterministic
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 3
methodology. The definitions of proved, probable, and possible reserves are
included under the tab "Petroleum Reserves Definitions" in this report.
We have included probable and possible reserves and income in this
report at the request of Tengasco. These data are for Tengasco's information
only, and should not be included in reports to the SEC according to the SEC
disclosure specifications. The probable reserves are less certain to be
recovered than the proved reserves and reserves classified as possible are less
certain to be recovered than those in the probable category. The reserves and
income quantities attributable to the different reserve classifications that are
included herein have not been adjusted to reflect the varying degrees of risk
associated with them and thus are not comparable.
Because of the direct relationship between volumes of proved
undeveloped reserves and development plans, we include in the proved undeveloped
category only reserves assigned to undeveloped locations that we have been
assured will definitely be drilled.
The various reserve status categories are defined under the tab
"Petroleum Reserves Definitions" in this report. The developed non-producing
reserves included herein are comprised of the shut-in and behind pipe
categories.
ESTIMATES OF RESERVES
The reserves included herein were estimated using the performance,
volumetric and analogy methods. The reserves estimated by the performance method
utilized extrapolations of various historical data in those cases where such
data were definitive in our opinion. Performance estimates accounted for 37.4
percent of the proved reserves on a net oil equivalent basis. Reserves were
estimated by the volumetric and analogy methods in those cases where there were
inadequate historical performance data to establish a definitive trend or where
the use of performance data as a basis for the reserve estimates was considered
to be inappropriate. Reserves by analogy accounted for 46.0 percent of reserves
and volumetric estimates accounted for the remaining 16.6 percent.
The reserves included in this report are estimates only and should not
be construed as being exact quantities. They may or may not be actually
recovered, and if recovered, the revenues therefrom and the actual costs related
thereto could be more or less than the estimated amounts. Moreover, estimates of
reserves may increase or decrease as a result of future operations.
FUTURE PRODUCTION RATES
Initial production rates are based on the current producing rates for
those wells now on production. Test data and other related information were used
to estimate the anticipated initial production rates for those wells or
locations that are not currently producing. If no production decline trend had
been established, future production rates were held constant, or adjusted for
the effects of curtailment where appropriate, until a decline in ability to
produce was anticipated. An estimated rate of decline was then applied to
depletion of the reserves. If a decline trend has been established, this trend
was used as the basis for estimating future production rates. For reserves not
yet on production, sales were estimated to commence at an anticipated date
furnished by Tengasco.
The future production rates from wells now on production may be more or
less than estimated because of changes in market demand or allowables set by
regulatory bodies. Wells or locations that are not currently producing may start
producing earlier or later than anticipated in our estimates of their future
production rates.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 4
HYDROCARBON PRICES
Tengasco furnished us with hydrocarbon prices in effect at December 31,
2002 and with its forecasts of future prices which take into account SEC and
Financial Accounting Standards Board (FASB) rules, current market prices,
contract prices, and fixed and determinable price escalations where applicable.
The hydrocarbon prices utilized in this study were $27.29 per barrel and $4.13
per Mcf for the properties located in the state of Kansas and $26.90 per barrel
and $4.22 per Mcf for the properties located in the state of Tennessee.
In accordance with FASB Statement No. 69, December 31, 2002 market
prices were determined using the daily oil price or daily gas sales price ("spot
price") adjusted for oilfield or gas gathering hub and wellhead price
differences (e.g. grade, transportation, gravity, sulfur and BS&W) as
appropriate. Also in accordance with SEC and FASB specifications, changes in
market prices subsequent to December 31, 2002 were not considered in this
report.
COSTS
Operating costs for the leases and wells in this report are based on
the operating expense reports of Tengasco and include only those costs directly
applicable to the leases or wells. When applicable, the operating costs include
a portion of general and administrative costs allocated directly to the leases
and wells under terms of operating agreements. No deduction was made for
indirect costs such as general administration and overhead expenses, loan
repayments, interest expenses, and exploration and development prepayments that
were not charged directly to the leases or wells.
Development costs were furnished to us by Tengasco and are based on
authorizations for expenditure for the proposed work or actual costs for similar
projects. At the request of Tengasco, their estimate of zero abandonment costs
after salvage value was used in this report. Ryder Scott has not performed a
detailed study of the abandonment costs or the salvage value and makes no
warranty for Tengasco's estimate.
Current costs were held constant throughout the life of the properties.
GENERAL
Table A presents a one line summary of proved reserve and income data
for each of the subject properties which are ranked according to their future
net income discounted at 10 percent per year. Table B presents a one line
summary of gross and net reserves and income data for each of the subject
properties. Table C presents a one line summary of initial basic data for each
of the subject properties. Tables 1 through 331 present our estimated projection
of production and income by years beginning December 31, 2002, by state, field,
and lease or well.
While it may reasonably be anticipated that the future prices received
for the sale of production and the operating costs and other costs relating to
such production may also increase or decrease from existing levels, such changes
were, in accordance with rules adopted by the SEC, omitted from consideration in
making this evaluation.
The estimates of reserves presented herein were based upon a detailed
study of the properties in which Tengasco owns an interest; however, we have not
made any field examination of the properties. No consideration was given in this
report to potential environmental liabilities that may exist
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
Tengasco, Inc.
February 10, 2003
Page 5
nor were any costs included for potential liability to restore and clean up
damages, if any, caused by past operating practices. Tengasco has informed us
that they have furnished us all of the accounts, records, geological and
engineering data, and reports and other data required for this investigation.
The ownership interests, prices, and other factual data furnished by Tengasco
were accepted without independent verification. The estimates presented in this
report are based on data available through December 2002.
Tengasco has assured us of their intent and ability to proceed with the
development activities included in this report, and that they are not aware of
any legal, regulatory or political obstacles that would significantly alter
their plans.
Neither we nor any of our employees have any interest in the subject
properties and neither the employment to make this study nor the compensation is
contingent on our estimates of reserves and future income for the subject
properties.
This report was prepared for the exclusive use and sole benefit of
Tengasco, Inc. The data, work papers, and maps used in this report are available
for examination by authorized parties in our offices. Please contact us if we
can be of further service.
Very truly yours,
RYDER SCOTT COMPANY, L.P.
/s/ C. Patrick McInturff
C. Patrick McInturff, P.E.
Vice President
CPM/sw
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
SECURITIES AND EXCHANGE COMMISSION
INTRODUCTION
Reserves are those quantities of petroleum which are anticipated to be
commercially recovered from known accumulations from a given date forward. All
reserve estimates involve some degree of uncertainty. The uncertainty depends
chiefly on the amount of reliable geologic and engineering data available at the
time of the estimate and the interpretation of these data. The relative degree
of uncertainty may be conveyed by placing reserves into one of two principal
classifications, either proved or unproved. Unproved reserves are less certain
to be recovered than proved reserves and may be further sub-classified as
probable and possible reserves to denote progressively increasing uncertainty in
their recoverability. It should be noted that Securities and Exchange Commission
Regulation S-K prohibits the disclosure of estimated quantities of probable or
possible reserves of oil and gas and any estimated value thereof in any
documents publicly filed with the Commission.
Reserves estimates will generally be revised as additional geologic or
engineering data become available or as economic conditions change. Reserves do
not include quantities of petroleum being held in inventory, and may be reduced
for usage or processing losses if required for financial reporting.
Reserves may be attributed to either natural energy or improved
recovery methods. Improved recovery methods include all methods for
supplementing natural energy or altering natural forces in the reservoir to
increase ultimate recovery. Examples of such methods are pressure maintenance,
cycling, waterflooding, thermal methods, chemical flooding, and the use of
miscible and immiscible displacement fluids. Other improved recovery methods may
be developed in the future as petroleum technology continues to evolve.
PROVED RESERVES (SEC DEFINITIONS)
Securities and Exchange Commission Regulation S-X Rule 4-10 paragraph
(a) defines proved reserves as follows:
PROVED OIL AND GAS RESERVES. PROVED OIL AND GAS RESERVES ARE THE ESTIMATED
QUANTITIES OF CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS WHICH GEOLOGICAL
AND ENGINEERING DATA DEMONSTRATE WITH REASONABLE CERTAINTY TO BE RECOVERABLE IN
FUTURE YEARS FROM KNOWN RESERVOIRS UNDER EXISTING ECONOMIC AND OPERATING
CONDITIONS, I.E., PRICES AND COSTS AS OF THE DATE THE ESTIMATE IS MADE. PRICES
INCLUDE CONSIDERATION OF CHANGES IN EXISTING PRICES PROVIDED ONLY BY CONTRACTUAL
ARRANGEMENTS, BUT NOT ON ESCALATIONS BASED UPON FUTURE CONDITIONS.
(I) RESERVOIRS ARE CONSIDERED PROVED IF ECONOMIC PRODUCIBILITY IS
SUPPORTED BY EITHER ACTUAL PRODUCTION OR CONCLUSIVE FORMATION TEST. THE
AREA OF A RESERVOIR CONSIDERED PROVED INCLUDES:
(A) THAT PORTION DELINEATED BY DRILLING AND DEFINED BY GAS-OIL
AND/OR OIL-WATER CONTACTS, IF ANY; AND
(B) THE IMMEDIATELY ADJOINING PORTIONS NOT YET DRILLED, BUT WHICH
CAN BE REASONABLY JUDGED AS ECONOMICALLY PRODUCTIVE ON THE BASIS
OF AVAILABLE GEOLOGICAL AND ENGINEERING DATA. IN THE ABSENCE OF
INFORMATION ON FLUID CONTACTS, THE LOWEST KNOWN STRUCTURAL
OCCURRENCE OF HYDROCARBONS CONTROLS THE LOWER PROVED LIMIT OF THE
RESERVOIR.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 2
(II) RESERVES WHICH CAN BE PRODUCED ECONOMICALLY THROUGH APPLICATION OF
IMPROVED RECOVERY TECHNIQUES (SUCH AS FLUID INJECTION) ARE INCLUDED IN
THE "PROVED" CLASSIFICATION WHEN SUCCESSFUL TESTING BY A PILOT PROJECT,
OR THE OPERATION OF AN INSTALLED PROGRAM IN THE RESERVOIR, PROVIDES
SUPPORT FOR THE ENGINEERING ANALYSIS ON WHICH THE PROJECT OR PROGRAM WAS
BASED.
(III) ESTIMATES OF PROVED RESERVES DO NOT INCLUDE THE FOLLOWING:
(A) OIL THAT MAY BECOME AVAILABLE FROM KNOWN RESERVOIRS BUT IS
CLASSIFIED SEPARATELY AS "INDICATED ADDITIONAL RESERVES";
(B) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THE RECOVERY
OF WHICH IS SUBJECT TO REASONABLE DOUBT BECAUSE OF UNCERTAINTY AS
TO GEOLOGY, RESERVOIR CHARACTERISTICS, OR ECONOMIC FACTORS;
(C) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THAT MAY
OCCUR IN UNDRILLED PROSPECTS; AND
(D) CRUDE OIL, NATURAL GAS, AND NATURAL GAS LIQUIDS, THAT MAY BE
RECOVERED FROM OIL SHALES, COAL, GILSONITE AND OTHER SUCH SOURCES.
PROVED DEVELOPED OIL AND GAS RESERVES. PROVED DEVELOPED OIL AND GAS RESERVES ARE
RESERVES THAT CAN BE EXPECTED TO BE RECOVERED THROUGH EXISTING WELLS WITH
EXISTING EQUIPMENT AND OPERATING METHODS. ADDITIONAL OIL AND GAS EXPECTED TO BE
OBTAINED THROUGH THE APPLICATION OF FLUID INJECTION OR OTHER IMPROVED RECOVERY
TECHNIQUES FOR SUPPLEMENTING THE NATURAL FORCES AND MECHANISMS OF PRIMARY
RECOVERY SHOULD BE INCLUDED AS "PROVED DEVELOPED RESERVES" ONLY AFTER TESTING BY
A PILOT PROJECT OR AFTER THE OPERATION OF AN INSTALLED PROGRAM HAS CONFIRMED
THROUGH PRODUCTION RESPONSE THAT INCREASED RECOVERY WILL BE ACHIEVED.
PROVED UNDEVELOPED RESERVES. PROVED UNDEVELOPED OIL AND GAS RESERVES ARE
RESERVES THAT ARE EXPECTED TO BE RECOVERED FROM NEW WELLS ON UNDRILLED ACREAGE,
OR FROM EXISTING WELLS WHERE A RELATIVELY MAJOR EXPENDITURE IS REQUIRED FOR
RECOMPLETION. RESERVES ON UNDRILLED ACREAGE SHALL BE LIMITED TO THOSE DRILLING
UNITS OFFSETTING PRODUCTIVE UNITS THAT ARE REASONABLY CERTAIN OF PRODUCTION WHEN
DRILLED. PROVED RESERVES FOR OTHER UNDRILLED UNITS CAN BE CLAIMED ONLY WHERE IT
CAN BE DEMONSTRATED WITH CERTAINTY THAT THERE IS CONTINUITY OF PRODUCTION FROM
THE EXISTING PRODUCTIVE FORMATION. UNDER NO CIRCUMSTANCES SHOULD ESTIMATES FOR
PROVED UNDEVELOPED RESERVES BE ATTRIBUTABLE TO ANY ACREAGE FOR WHICH AN
APPLICATION OF FLUID INJECTION OR OTHER IMPROVED RECOVERY TECHNIQUE IS
CONTEMPLATED, UNLESS SUCH TECHNIQUES HAVE BEEN PROVED EFFECTIVE BY ACTUAL TESTS
IN THE AREA AND IN THE SAME RESERVOIR.
Certain Staff Accounting Bulletins published subsequent to the
promulgation of Regulation S-X have dealt with matters relating to the
application of financial accounting and disclosure rules for oil and gas
producing activities. In particular, the following interpretations extracted
from Staff Accounting Bulletins set forth the Commission staff's view on
specific questions pertaining to proved oil and gas reserves.
ECONOMIC PRODUCIBILITY OF ESTIMATED PROVED RESERVES CAN BE SUPPORTED TO
THE SATISFACTION OF THE OFFICE OF ENGINEERING IF GEOLOGICAL AND ENGINEERING DATA
DEMONSTRATE WITH REASONABLE CERTAINTY THAT THOSE RESERVES CAN BE RECOVERED IN
FUTURE YEARS UNDER EXISTING ECONOMIC AND OPERATING CONDITIONS. THE RELATIVE
IMPORTANCE OF THE MANY PIECES OF GEOLOGICAL AND ENGINEERING DATA WHICH SHOULD BE
EVALUATED WHEN CLASSIFYING RESERVES CANNOT BE IDENTIFIED IN ADVANCE. IN CERTAIN
INSTANCES, PROVED RESERVES MAY BE ASSIGNED TO RESERVOIRS ON THE BASIS OF A
COMBINATION OF ELECTRICAL AND OTHER TYPE LOGS AND CORE ANALYSES WHICH INDICATE
THE RESERVOIRS ARE ANALOGOUS TO SIMILAR RESERVOIRS IN THE SAME FIELD
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 3
WHICH ARE PRODUCING OR HAVE DEMONSTRATED THE ABILITY TO PRODUCE ON A FORMATION
TEST. (EXTRACTED FROM SAB-35)
IN DETERMINING WHETHER "PROVED UNDEVELOPED RESERVES" ENCOMPASS ACREAGE
ON WHICH FLUID INJECTION (OR OTHER IMPROVED RECOVERY TECHNIQUE) IS CONTEMPLATED,
IS IT APPROPRIATE TO DISTINGUISH BETWEEN (I) FLUID INJECTION USED FOR PRESSURE
MAINTENANCE DURING THE EARLY LIFE OF A FIELD AND (II) FLUID INJECTION USED TO
EFFECT SECONDARY RECOVERY WHEN A FIELD IS IN THE LATE STAGES OF DEPLETION? ...
THE OFFICE OF ENGINEERING BELIEVES THAT THE DISTINCTION IDENTIFIED IN THE ABOVE
QUESTION MAY BE APPROPRIATE IN A FEW LIMITED CIRCUMSTANCES, SUCH AS IN THE CASE
OF CERTAIN FIELDS IN THE NORTH SEA. THE STAFF WILL REVIEW ESTIMATES OF PROVED
RESERVES ATTRIBUTABLE TO FLUID INJECTION IN THE LIGHT OF THE STRENGTH OF THE
EVIDENCE PRESENTED BY THE REGISTRANT IN SUPPORT OF A CONTENTION THAT ENHANCED
RECOVERY WILL BE ACHIEVED. (EXTRACTED FROM SAB-35)
COMPANIES SHOULD REPORT RESERVES OF NATURAL GAS LIQUIDS WHICH ARE NET
TO THEIR LEASEHOLD INTEREST, I.E., THAT PORTION RECOVERED IN A PROCESSING PLANT
AND ALLOCATED TO THE LEASEHOLD INTEREST. IT MAY BE APPROPRIATE IN THE CASE OF
NATURAL GAS LIQUIDS NOT CLEARLY ATTRIBUTABLE TO LEASEHOLD INTERESTS OWNERSHIP TO
FOLLOW INSTRUCTION (B) OF ITEM 2(B)(3) OF REGULATION S-K AND REPORT SUCH
RESERVES SEPARATELY AND DESCRIBE THE NATURE OF THE OWNERSHIP. (EXTRACTED FROM
SAB-35)
THE STAFF BELIEVES THAT SINCE COALBED METHANE GAS CAN BE RECOVERED FROM
COAL IN ITS NATURAL AND ORIGINAL LOCATION, IT SHOULD BE INCLUDED IN PROVED
RESERVES, PROVIDED THAT IT COMPLIES IN ALL OTHER RESPECTS WITH THE DEFINITION OF
PROVED OIL AND GAS RESERVES AS SPECIFIED IN RULE 4-10(A)(2) INCLUDING THE
REQUIREMENT THAT METHANE PRODUCTION BE ECONOMICAL AT CURRENT PRICES, COSTS, (NET
OF THE TAX CREDIT) AND EXISTING OPERATING CONDITIONS. (EXTRACTED FROM SAB-85)
Statements in Staff Accounting Bulletins are not rules or
interpretations of the Commission nor are they published as bearing the
Commission's official approval; they represent interpretations and practices
followed by the Division of Corporation Finance and the Office of the Chief
Accountant in administering the disclosure requirements of the Federal
securities laws.
SUB-CATEGORIZATION OF DEVELOPED RESERVES (SPE/WPC DEFINITIONS)
In accordance with guidelines adopted by the Society of Petroleum
Engineers (SPE) and the World Petroleum Congress (WPC), developed reserves may
be sub-categorized as producing or non-producing.
PRODUCING. Reserves sub-categorized as producing are expected to be recovered
from completion intervals which are open and producing at the time of the
estimate. Improved recovery reserves are considered producing only after the
improved recovery project is in operation.
NON-PRODUCING. Reserves sub-categorized as non-producing include shut-in and
behind pipe reserves. Shut-in reserves are expected to be recovered from (1)
completion intervals which are open at the time of the estimate but which have
not started producing, (2) wells which were shut-in awaiting pipeline
connections or as a result of a market interruption, or (3) wells not capable of
production for mechanical reasons. Behind pipe reserves are expected to be
recovered from zones in existing wells, which will require additional completion
work or future recompletion prior to the start of production.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
PETROLEUM RESERVES DEFINITIONS
Page 4
UNPROVED RESERVES (SPE/WPC DEFINITIONS)
Unproved reserves are based on geologic and/or engineering data similar
to that used in estimates of proved reserves; but technical, contractual,
economic, or regulatory uncertainties preclude such reserves being classified as
proved. Unproved reserves may be further classified as probable reserves and
possible reserves.
Unproved reserves may be estimated assuming future economic conditions
different from those prevailing at the time of the estimate. The effect of
possible future improvements in economic conditions and technological
developments can be expressed by allocating appropriate quantities of reserves
to the probable and possible classifications.
PROBABLE RESERVES. Probable reserves are those unproved reserves which analysis
of geological and engineering data suggests are more likely than not to be
recoverable. In this context, when probabilistic methods are used, there should
be at least a 50 percent probability that the quantities actually recovered will
equal or exceed the sum of estimated proved plus probable reserves.
In general, probable reserves may include (1) reserves anticipated to
be proved by normal step-out drilling where sub-surface control is inadequate to
classify these reserves as proved, (2) reserves in formations that appear to be
productive based on well log characteristics but lack core data or definitive
tests and which are not analogous to producing or proved reserves in the area,
(3) incremental reserves attributable to infill drilling that could have been
classified as proved if closer statutory spacing had been approved at the time
of the estimate, (4) reserves attributable to improved recovery methods that
have been established by repeated commercially successful applications when (a)
a project or pilot is planned but not in operation and (b) rock, fluid, and
reservoir characteristics appear favorable for commercial application, (5)
reserves in an area of the formation that appears to be separated from the
proved area by faulting and the geologic interpretation indicates the subject
area is structurally higher than the proved area, (6) reserves attributable to a
future workover, treatment, re-treatment, change of equipment, or other
mechanical procedures, where such procedure has not been proved successful in
wells which exhibit similar behavior in analogous reservoirs, and (7)
incremental reserves in proved reservoirs where an alternative interpretation of
performance or volumetric data indicates more reserves than can be classified as
proved.
POSSIBLE RESERVES. Possible reserves are those unproved reserves which analysis
of geological and engineering data suggests are less likely to be recoverable
than probable reserves. In this context, when probabilistic methods are used,
there should be at least a 10 percent probability that the quantities actually
recovered will equal or exceed the sum of estimated proved plus probable plus
possible reserves.
In general, possible reserves may include (1) reserves which, based on
geological interpretations, could possibly exist beyond areas classified as
probable, (2) reserves in formations that appear to be petroleum bearing based
on log and core analysis but may not be productive at commercial rates, (3)
incremental reserves attributed to infill drilling that are subject to technical
uncertainty, (4) reserves attributed to improved recovery methods when (a) a
project or pilot is planned but not in operation and (b) rock, fluid, and
reservoir characteristics are such that a reasonable doubt exists that the
project will be commercial, and (5) reserves in an area of the formation that
appears to be separated from the proved area by faulting and geological
interpretation indicates the subject area is structurally lower than the proved
area.
RIDER SCOTT COMPANY PETROLEUM CONSULTANTS
TENGASCO, INC.
TABLE OF CONTENTS
DISCUSSION
PETROLEUM RESERVES DEFINITIONS
TABLE NO.
---------
PROPERTY RANKING -------------------------------------------------- A
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA ------------------ B
SUMMARY OF INITIAL BASIC DATA ------------------------------------- C
GRAND SUMMARIES
TOTAL PROVED ALL CATEGORIES ------------------------------------ 1
PROVED PRODUCING ----------------------------------------------- 2
PROVED SHUT-IN ------------------------------------------------- 3
PROVED BEHIND PIPE --------------------------------------------- 4
PROVED UNDEVELOPED --------------------------------------------- 5
TOTAL PROBABLE ALL CATEGORIES ---------------------------------- 6
PROBABLE BEHIND PIPE ------------------------------------------- 7
PROBABLE UNDEVELOPED ------------------------------------------- 8
TOTAL POSSIBLE UNDEVELOPED ------------------------------------- 9
STATE SUMMARIES - STATE OF KANSAS
TOTAL PROVED ALL CATEGORIES ------------------------------------ 10
PROVED PRODUCING ----------------------------------------------- 11
PROVED BEHIND PIPE --------------------------------------------- 12
PROVED UNDEVELOPED --------------------------------------------- 13
TOTAL PROBABLE UNDEVELOPED ------------------------------------- 14
ARPIN SOUTH FIELD, ROOKS CO., KANSAS
THYFAULT #1 - PROVED PRODUCING --------------------------------- 15
ASH CREEK FIELD, BARTON CO., KANSAS
UNRUH #2 - PROVED PRODUCING ------------------------------------ 16
AXELSON FIELD, ROOKS CO., KANSAS
AXELSON LEASE - PROVED PRODUCING ------------------------------- 17
BEISEL FIELD, RUSSELL CO., KANSAS
BEISEL LEASE - PROVED PRODUCING -------------------------------- 18
BEISEL #9 PUD - PROVED UNDEVELOPED ----------------------------- 19
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
BIELMAN FIELD, ELLIS CO., KANSAS
GRASS #5 - PROVED PRODUCING ------------------------------------ 20
CARPENTER FIELD, EDWARDS CO., KANSAS
HENNING #1 - PROVED PRODUCING ---------------------------------- 21
CARROLL FIELD, BARTON CO., KANSAS
KEENAN -B- LEASE - PROVED PRODUCING ---------------------------- 22
CENTERVIEW FIELD, STAFFORD CO., KANSAS
BECKERDITE #1 - PROVED PRODUCING ------------------------------- 23
CHASE-SILICA FIELD, BARTON CO., KANSAS
LANDER #1 - PROVED PRODUCING ------------------------------------ 24
LANDER #3 PBUD - PROBABLE UNDEVELOPED ---------------------------- 25
ROSE LEASE - PROVED PRODUCING ------------------------------------ 26
CHEYENNE FIELD, BARTON CO., KANSAS
HAMMEKE #1 - PROVED PRODUCING ---------------------------------- 27
CONVERSE FIELD, BARTON CO., KANSAS
IANNITTI LEASE - PROVED PRODUCING ------------------------------ 28
IANNITTI #9 PUD - PROVED UNDEVELOPED --------------------------- 29
COOPER FIELD, GRAHAM CO., KANSAS
DEYOUNG LEASE - PROVED PRODUCING ------------------------------- 30
LEWIS LEASE - PROVED PRODUCING --------------------------------- 31
DAVIDSON FIELD, RUSSELL CO., KANSAS
FOSTER LEASE - PROVED PRODUCING -------------------------------- 32
DISTRICT 57 FIELD, ELLIS CO., KANSAS
FLAX #1 - PROVED PRODUCING ------------------------------------- 33
DUNES NORTH FIELD, PAWNEE CO., KANSAS
BARSTOW #1 - PROVED PRODUCING ---------------------------------- 34
LOVETT #1 - PROVED PRODUCING ----------------------------------- 35
ELLIS NW FIELD, TREGO CO., KANSAS
BAUGHER #1 - PROVED PRODUCING ---------------------------------- 36
FICKEN FIELD, RUSH CO., KANSAS
SCHWINDT FARMS #1 - PROVED PRODUCING --------------------------- 37
GATES NORTH FIELD, STAFFORD CO., KANSAS
HOFFMAN #1 - PROVED PRODUCING ---------------------------------- 38
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
GATES NORTH FIELD, STAFFORD CO., KANSAS (CONT'D)
SCHULZ LEASE - PROVED PRODUCING -------------------------------- 39
GIESICK FIELD, RUSH CO., KANSAS
GIESICK #2 - PROVED PRODUCING ---------------------------------- 40
GOTTSCHALK FIELD, ELLIS CO., KANSAS
WERTH #1 - PROVED PRODUCING ------------------------------------ 41
HERMAN FIELD, BARTON CO., KANSAS
H. KARST LEASE - PROVED PRODUCING ------------------------------ 42
HOBROCK FIELD, OSBORNE CO., KANSAS
HOBROCK #4 - PROVED PRODUCING ---------------------------------- 43
HOGAN LEASE - PROVED PRODUCING --------------------------------- 44
IRVIN FIELD, ELLIS CO., KANSAS
KINDERKNECHT -B- LEASE - PROVED PRODUCING ---------------------- 45
KRAUS FIELD, ELLIS CO., KANSAS
KRAUS -A- LEASE - PROVED PRODUCING ----------------------------- 46
KRAUS -B- LEASE - PROVED PRODUCING ----------------------------- 47
KRAUS -I- LEASE - PROVED PRODUCING ----------------------------- 48
LEIKER EAST FIELD, ELLIS CO., KANSAS
LEIKER #1 - PROVED PRODUCING ----------------------------------- 49
LEONHARDT SOUTHEAST FIELD, ELLIS CO., KANSAS
KRAUS LEASE - PROVED PRODUCING --------------------------------- 50
LIEBENTHAL FIELD, RUSH CO., KANSAS
DECHANT -B- #2 - PROVED PRODUCING ------------------------------- 51
GRAHAM #1 - PROVED PRODUCING ------------------------------------- 52
LEGLEITER -B- #1 - PROVED PRODUCING ------------------------------ 53
LEGLEITER -C- #1 - PROVED PRODUCING ------------------------------ 54
LEGLEITER -C- #2 - PROVED PRODUCING ------------------------------ 55
LITTLE RIO FIELD, RICE CO., KANSAS
WHITEMAN-HOLLAND LEASE - PROVED PRODUCING ---------------------- 56
MARCOTTE FIELD, ROOKS CO., KANSAS
CROFFOOT LEASE - PROVED PRODUCING ------------------------------ 57
CROFFOOT -A- LEASE - PROVED PRODUCING -------------------------- 58
CROFFOOT -B- LEASE - PROVED PRODUCING -------------------------- 59
CROFFOOT -C- LEASE - PROVED PRODUCING -------------------------- 60
DICK LEASE - PROVED PRODUCING ---------------------------------- 61
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
MCHALE FIELD, ROOKS CO., KANSAS
HARRISON -A- LEASE - PROVED PRODUCING -------------------------- 62
HILGERS -B- LEASE - PROVED PRODUCING --------------------------- 63
KABA #2 - PROVED PRODUCING ------------------------------------- 64
OMLOR FIELD, STAFFORD CO., KANSAS
MILLER #1 - PROVED PRODUCING ----------------------------------- 65
WILLIAMS #1 - PROVED PRODUCING --------------------------------- 66
OTIS-ALBERT FIELD, RUSH CO., KANSAS
HARTMAN -C- #1 - PROVED PRODUCING ------------------------------ 67
PARADISE CREEK FIELD, ROOKS CO., KANSAS
STAHL LEASE - PROVED PRODUCING --------------------------------- 68
STAHL #7 PUD - PROVED UNDEVELOPED ------------------------------ 69
PAWNEE ROCK FIELD, PAWNEE CO., KANSAS
O'SCHULTZ #1 - PROVED PRODUCING --------------------------------- 70
OETKIN LEASE - PROVED PRODUCING ---------------------------------- 71
OETKIN #8 PBUD - PROBABLE UNDEVELOPED ---------------------------- 72
PLAINVILLE FIELD, ROOKS CO., KANSAS
ANDERSON -A- #1 - PROVED PRODUCING ----------------------------- 73
BARDOT #1 - PROVED PRODUCING ----------------------------------- 74
GARVERT -A- #1 - PROVED PRODUCING ------------------------------ 75
GARVERT -B- #1 - PROVED PRODUCING ------------------------------ 76
HARRISON -C- LEASE - PROVED PRODUCING -------------------------- 77
JACO LEASE - PROVED PRODUCING ---------------------------------- 78
ROSS LEASE - PROVED PRODUCING ---------------------------------- 79
PLEASANT FIELD, RUSH CO., KANSAS
BASGALL -C- #4 - PROVED PRODUCING ------------------------------ 80
PLEASANT FIELD, ELLIS CO., KANSAS
HONAS #3 - PROVED PRODUCING ------------------------------------ 81
PLEASANT VIEW FIELD, RUSH CO., KANSAS
URBAN -K- #5 - PROVED PRODUCING -------------------------------- 82
URBAN -K- #5 BP - PROVED BEHIND PIPE --------------------------- 83
PLEASANT VIEW NW FIELD, RUSH CO., KANSAS
URBAN #1, 2 & 5 - PROVED PRODUCING ------------------------------- 84
URBAN #6 PUD - PROVED UNDEVELOPED -------------------------------- 85
URBAN #7 PUD - PROVED UNDEVELOPED -------------------------------- 86
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
REICHEL FIELD, RUSH CO., KANSAS
ALLEN #1 A&D - PROVED PRODUCING -------------------------------- 87
ANDRE #1 - PROVED PRODUCING ------------------------------------ 88
APPL #1 - PROVED PRODUCING ------------------------------------- 89
APPL #2 - PROVED PRODUCING ------------------------------------- 90
BEAHM #1 - PROVED PRODUCING ------------------------------------ 91
BIEBER #1 - PROVED PRODUCING ----------------------------------- 92
BIEBER -A- #1 - PROVED PRODUCING ------------------------------- 93
BRACK -A- #3 - PROVED PRODUCING -------------------------------- 94
BREIT #1 - PROVED PRODUCING ------------------------------------ 95
BREIT-HOLZMEISTER -B- - PROVED PRODUCING ----------------------- 96
DECKER -A- #1 - PROVED PRODUCING ------------------------------- 97
EDWARDS #1 - PROVED PRODUCING ---------------------------------- 98
ELDER #19 - PROVED PRODUCING ----------------------------------- 99
FOOS #1 - PROVED PRODUCING ------------------------------------- 100
FOOS -A- #1 - PROVED PRODUCING --------------------------------- 101
FRYE #2 - PROVED PRODUCING ------------------------------------- 102
GIESICK #1 - PROVED PRODUCING ---------------------------------- 103
GILLIG #1 - PROVED PRODUCING ----------------------------------- 104
GRUMBEIN -A- #1 - PROVED PRODUCING ----------------------------- 105
HANHARDT #1 - PROVED PRODUCING --------------------------------- 106
HANHARDT -A- #1 - PROVED PRODUCING ----------------------------- 107
HANHARDT -A- #1BP - PROVED BEHIND PIPE ------------------------- 108
HOFFMAN #3 - PROVED PRODUCING ---------------------------------- 109
HOLZMEISTER #1 - PROVED PRODUCING ------------------------------ 110
HOLZMEISTER -A- #1 - PROVED PRODUCING -------------------------- 111
HOLZMEISTER -B- #1 - PROVED PRODUCING -------------------------- 112
HONDERICK -C- #1 - PROVED PRODUCING ---------------------------- 113
HOOFER #1 - PROVED PRODUCING ----------------------------------- 114
JANSON -A- #2 - PROVED PRODUCING ------------------------------- 115
KAISER #2 - PROVED PRODUCING ----------------------------------- 116
KAISER -A- #1 - PROVED PRODUCING ------------------------------- 117
KLEWENO #1-21 - PROVED PRODUCING ------------------------------- 118
KLEWENO -A- #1 - PROVED PRODUCING ------------------------------ 119
KOBER #1 - PROVED PRODUCING ------------------------------------ 120
LEBSACK -A- #1 - PROVED PRODUCING ------------------------------ 121
LIPPERT #2 - PROVED PRODUCING ---------------------------------- 122
LIPPERT #3 - PROVED PRODUCING ---------------------------------- 123
LIPPERT #3 BP - PROVED BEHIND PIPE ----------------------------- 124
LIPPERT -B- #1 - PROVED PRODUCING ------------------------------ 125
LIPPERT -B- #2 - PROVED PRODUCING ------------------------------ 126
LIPPERT -C- #1 - PROVED PRODUCING ------------------------------ 127
MCGILL #2 - PROVED PRODUCING ----------------------------------- 128
O'DELL #1 - PROVED PRODUCING ----------------------------------- 129
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
REICHEL FIELD, RUSH CO., KANSAS (CONT'D)
OCHS -A- #1 - PROVED PRODUCING --------------------------------- 130
PFEIFER -B- #1 - PROVED PRODUCING ------------------------------ 131
RAU #1 - PROVED PRODUCING -------------------------------------- 132
REICHEL #1 - PROVED PRODUCING ---------------------------------- 133
ROTHE #1-31 - PROVED PRODUCING --------------------------------- 134
ROTHE, R. #1 - PROVED PRODUCING -------------------------------- 135
SCHEUERMAN #56 - PROVED PRODUCING ------------------------------ 136
SCHLITTER #2 - PROVED PRODUCING -------------------------------- 137
SCHNEIDER #1 - PROVED PRODUCING -------------------------------- 138
SHERWOOD #1 - PROVED PRODUCING --------------------------------- 139
STEITZ -A- #1 - PROVED PRODUCING ------------------------------- 140
STEITZ -B- #1 - PROVED PRODUCING ------------------------------- 141
THIELENHAUS #1 - PROVED PRODUCING ------------------------------ 142
THIELENHAUS #1 BP - PROVED BEHIND PIPE ------------------------- 143
TORREY #2 - PROVED PRODUCING ----------------------------------- 144
URBAN R & A #1 - PROVED PRODUCING ------------------------------ 145
REICHEL EAST FIELD, RUSH CO., KANSAS
BAHR #1 - PROVED PRODUCING ------------------------------------- 146
REICHEL WEST FIELD, RUSH CO., KANSAS
LEGLEITER -A- #1-1 - PROVED PRODUCING --------------------- 147
LEGLEITER -A- #1-2 - PROVED PRODUCING ---------------------------- 148
MUTH #1 & 2 - PROVED PRODUCING ----------------------------------- 149
RIDGEWAY SOUTH FIELD, TREGO CO., KANSAS
SCHOENTHALER #3 - PROVED PRODUCING ----------------------------- 150
RIGA NORTHEAST FIELD, TREGO CO., KANSAS
KELLER LEASE - PROVED PRODUCING -------------------------------- 151
KELLER -A- LEASE - PROVED PRODUCING ---------------------------- 152
RUGGELS WEST FIELD, OSBORNE CO., KANSAS
MAIER #1 - PROVED PRODUCING ------------------------------------- 153
MAIER #1 BP - PROVED BEHIND PIPE --------------------------------- 154
SANDFORD FIELD, BARTON CO., KANSAS
BEN TEMPERO #1 - PROVED PRODUCING ------------------------------ 155
BEN TEMPERO #5 PUD - PROVED UNDEVELOPED ------------------------ 156
SCHWINDT FIELD, RUSH CO., KANSAS
JACOBS -B- #3 - PROVED PRODUCING ------------------------------- 157
SPRING CREEK FIELD, TREGO CO., KANSAS
RIDGWAY #1 - PROVED PRODUCING ---------------------------------- 158
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
STOCKTON FIELD, ROOKS CO., KANSAS
HINDMAN #1 - PROVED PRODUCING ------------------------------ 159
STEBBINS #1 - PROVED PRODUCING ---------------------------------- 160
WATTS #1 - PROVED PRODUCING -------------------------------------- 161
STREMEL FIELD, RUSH CO., KANSAS
OCHS #1 & 3 - PROVED PRODUCING ---------------------------------- 162
URBAN -D- LEASE - PROVED PRODUCING ------------------------------- 163
THACKER FIELD, RUSSELL CO., KANSAS
THACKER #2 - PROVED PRODUCING ---------------------------------- 164
TRAPP FIELD, BARTON CO., KANSAS
DEUTSCH - PROVED PRODUCING --------------------------------------- 165
HOWLIER #1 - PROVED PRODUCING ------------------------------------ 166
WEBSTER FIELD, ROOKS CO., KANSAS
CERROW-CERROW -A- #1 - PROVED PRODUCING ------------------------- 167
LOWRY #1 - PROVED PRODUCING -------------------------------------- 168
WERTH NORTH FIELD, ELLIS CO., KANSAS
SCHNELLER LEASE - PROVED PRODUCING ----------------------------- 169
WESTHUSIN FIELD, ROOKS CO., KANSAS
DOUGHERTY EAST #1 - PROVED PRODUCING ---------------------- 170
DOUGHERTY EAST #1 BP - PROVED BEHIND PIPE ----------------- 171
DOUGHERTY EAST #2 PUD - PROVED UNDEVELOPED ----------------------- 172
YOHE FIELD, ROOKS CO., KANSAS
FINNESY LEASE - PROVED PRODUCING ------------------------------- 173
MOSHER LEASE - PROVED PRODUCING -------------------------------- 174
ALL FIELDS, RUSH CO., KANSAS
OTIS COMPRESSOR STATION - PROVED PRODUCING --------------------- 175
VARIOUS FIELD, ALL CO., KANSAS
KANSAS FIXED COSTS 1PDP - PROVED PRODUCING --------------------- 176
KANSAS FIXED COSTS 2PBP - PROVED BEHIND PIPE ------------------- 177
KANSAS FIXED COSTS 3PUD - PROVED UNDEVELOPED ------------------- 178
STATE SUMMARIES - STATE OF TENNESSEE
TOTAL PROVED ALL CATEGORIES ------------------------------------ 179
PROVED PRODUCING ----------------------------------------------- 180
PROVED SHUT-IN ------------------------------------------------- 181
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
STATE SUMMARIES - STATE OF TENNESSEE (CONT'D)
PROVED BEHIND PIPE --------------------------------------------- 182
PROVED UNDEVELOPED --------------------------------------------- 183
TOTAL PROBABLE BEHIND PIPE ------------------------------------- 184
TOTAL POSSIBLE UNDEVELOPED ------------------------------------- 185
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE
ANITA COLSON #1 - PROVED SHUT-IN ------------------------------- 186
ANITA COLSON #1 BP - PROVED BEHIND PIPE ------------------------ 187
ANITA COLSON #2 - PROVED PRODUCING ----------------------------- 188
BOBBY YEARY #1 - PROVED PRODUCING ------------------------------ 189
BOBBY YEARY #1BP - PROVED BEHIND PIPE -------------------------- 190
BOBBY YEARY #2 - PROVED SHUT-IN -------------------------------- 191
BOBBY YEARY #3 - PROVED SHUT-IN -------------------------------- 192
CHERYL SMITH #1 - PROVED SHUT-IN ------------------------------- 193
CHERYL SMITH #2 - PROVED UNDEVELOPED --------------------------- 194
CHEVRON REED #1 - PROVED SHUT-IN ------------------------------- 195
D. SUTTON HEIRS #1 - PROVED PRODUCING -------------------------- 196
D. SUTTON HEIRS #1 BP - PROVED BEHIND PIPE --------------------- 197
D. SUTTON HEIRS #3 - PROVED UNDEVELOPED ------------------------ 198
DARNELL SUTTON #1 - PROVED PRODUCING --------------------------- 199
DEANNA CROSS #1 - PROVED SHUT-IN ------------------------------- 200
DEANNA CROSS #1 BP - PROVED BEHIND PIPE ------------------------ 201
DEWEY SUTTON #1 - PROVED SHUT-IN ------------------------------- 202
DORIS HELTON #1 - PROVED PRODUCING ----------------------------- 203
DORIS HELTON #1 BP1 - PROVED BEHIND PIPE ----------------------- 204
DORIS HELTON #1 BP2 - PROVED BEHIND PIPE ----------------------- 205
F. WELLS #1 - POSSIBLE UNDEVELOPED ----------------------------- 206
FRED PORTRUM #1 - PROVED PRODUCING ----------------------------- 207
FRED PORTRUM #2 - PROVED PRODUCING ----------------------------- 208
GARY PATTON #2 - PROVED SHUT-IN -------------------------------- 209
GARY PATTON #2 BP1 - PROVED BEHIND PIPE ------------------------ 210
GARY PATTON #2 BP2 - PROVED BEHIND PIPE ------------------------ 211
GUY TOBEY #1 - POSSIBLE UNDEVELOPED ---------------------------- 212
HAZEL SUTTON #2 - PROVED PRODUCING ----------------------------- 213
HUGH ROBERTS #1 - PROVED SHUT-IN ------------------------------- 214
HUGH ROBERTS #1 BP - PROVED BEHIND PIPE ------------------------ 215
JEFF JOHNSON #1 - PROVED PRODUCING ----------------------------- 216
JEFF JOHNSON #2 - PROVED UNDEVELOPED --------------------------- 217
LANGE #1 - PROBABLE BEHIND PIPE -------------------------------- 218
LANGE #1 BP - PROBABLE BEHIND PIPE ----------------------------- 219
LAURA J. LAWSON #1 - PROVED PRODUCING -------------------------- 220
LAURA J. LAWSON #2 - PROVED PRODUCING -------------------------- 221
LAURA J. LAWSON #2 BP - PROVED BEHIND PIPE --------------------- 222
LAURA J. LAWSON #3 - PROVED PRODUCING -------------------------- 223
LAURA J. LAWSON #4 - PROVED PRODUCING -------------------------- 224
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
LAURA J. LAWSON #4 BP - PROVED BEHIND PIPE --------------------- 225
LAURA J. LAWSON #5 - PROVED SHUT-IN ---------------------------- 226
PAUL REED #1 - PROVED PRODUCING -------------------------------- 227
PAUL REED #2 - PROVED SHUT-IN ---------------------------------- 228
PAUL REED #2 BP - PROVED BEHIND PIPE --------------------------- 229
PAUL REED #3 - PROVED PRODUCING -------------------------------- 230
PAUL REED #3 BP1 - PROVED BEHIND PIPE -------------------------- 231
PAUL REED #3 BP2 - PROVED BEHIND PIPE -------------------------- 232
PAUL REED #4 - PROVED PRODUCING -------------------------------- 233
PAUL REED #4 BP1 - PROVED BEHIND PIPE -------------------------- 234
PAUL REED #4 BP2 - PROVED BEHIND PIPE -------------------------- 235
PAUL REED #5 - PROVED PRODUCING -------------------------------- 236
PAUL REED #6 - PROVED PRODUCING -------------------------------- 237
PAUL REED #6 BP - PROVED BEHIND PIPE --------------------------- 238
PAUL REED #7 - PROVED PRODUCING -------------------------------- 239
PAUL REED #7 BP1 - PROVED BEHIND PIPE -------------------------- 240
PAUL REED #7 BP2 - PROVED BEHIND PIPE -------------------------- 241
PAUL REED #8 - PROVED BEHIND PIPE ------------------------------ 242
PAUL REED #8 BP - PROVED BEHIND PIPE --------------------------- 243
PAUL REED #9 - PROVED UNDEVELOPED ------------------------------ 244
PURKEY #1 - PROVED PRODUCING ----------------------------------- 245
PURKEY #2 - PROVED SHUT-IN ------------------------------------- 246
PURKEY #3 - PROVED PRODUCING ----------------------------------- 247
PURKEY #3 BP1 - PROVED BEHIND PIPE ----------------------------- 248
PURKEY #3 BP2 - PROVED BEHIND PIPE ----------------------------- 249
PURKEY #4 - PROVED UNDEVELOPED --------------------------------- 250
PURKEY #5 - PROVED UNDEVELOPED --------------------------------- 251
RAY DEAN HELTON #1 - PROVED PRODUCING -------------------------- 252
RAY DEAN HELTON #1 BP - PROVED BEHIND PIPE --------------------- 253
RAY DEAN HELTON #2 - PROVED SHUT-IN ---------------------------- 254
RAY DEAN HELTON #2 BP1 - PROVED BEHIND PIPE -------------------- 255
RAY DEAN HELTON #2 BP2 - PROVED BEHIND PIPE -------------------- 256
RAY DEAN HELTON #3 - PROVED SHUT-IN ---------------------------- 257
RAY DEAN HELTON #4 - PROVED UNDEVELOPED ------------------------ 258
RAY DEAN HELTON #6 - PROVED UNDEVELOPED ------------------------ 259
ROSE #1 - PROVED SHUT-IN --------------------------------------- 260
STEPHEN LAWSON #1 - PROVED PRODUCING --------------------------- 261
STEPHEN LAWSON #2 - PROVED SHUT-IN ----------------------------- 262
STEPHEN LAWSON #3 - PROVED PRODUCING --------------------------- 263
STEPHEN LAWSON #3 BP - PROVED BEHIND PIPE ---------------------- 264
STEPHEN LAWSON #4 - PROVED PRODUCING --------------------------- 265
STEPHEN LAWSON #4 BP - PROVED BEHIND PIPE ---------------------- 266
STEPHEN LAWSON #5 - PROVED PRODUCING --------------------------- 267
STEPHEN LAWSON #5 BP - PROVED BEHIND PIPE ---------------------- 268
STEPHEN LAWSON #6 - PROVED UNDEVELOPED ------------------------- 269
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
STEPHEN LAWSON #7 - PROVED UNDEVELOPED ------------------------- 270
T.J. HARRISON #1 - PROVED SHUT-IN ------------------------------ 271
WARREN REED #1 - PROVED SHUT-IN -------------------------------- 272
WARREN REED #1 BP - PROVED BEHIND PIPE ------------------------- 273
WARREN REED #2 - PROVED PRODUCING ------------------------------ 274
WARREN REED #2 BP1 - PROVED BEHIND PIPE ------------------------ 275
WARREN REED #2 BP2 - PROVED BEHIND PIPE ------------------------ 276
WELLS/YEARY #1 - PROVED PRODUCING ------------------------------ 277
WOODROW DAVIS #1 - PROVED SHUT-IN ------------------------------ 278
LOCATION # 4 - PROVED UNDEVELOPED ------------------------------ 279
LOCATION # 5 - PROVED UNDEVELOPED ------------------------------ 280
LOCATION # 8 - PROVED UNDEVELOPED ------------------------------ 281
LOCATION #12 - PROVED UNDEVELOPED ------------------------------ 282
LOCATION #13 - PROVED UNDEVELOPED ------------------------------ 283
LOCATION #14 - PROVED UNDEVELOPED ------------------------------ 284
LOCATION #15 - PROVED UNDEVELOPED ------------------------------ 285
LOCATION #16 - PROVED UNDEVELOPED ------------------------------ 286
LOCATION #17 - PROVED UNDEVELOPED ------------------------------ 287
LOCATION #19 - PROVED UNDEVELOPED ------------------------------ 288
LOCATION #20 - PROVED UNDEVELOPED ------------------------------ 289
LOCATION #24 - PROVED UNDEVELOPED ------------------------------ 290
LOCATION #25 - PROVED UNDEVELOPED ------------------------------ 291
LOCATION #26 - PROVED UNDEVELOPED ------------------------------ 292
LOCATION #27 - PROVED UNDEVELOPED ------------------------------ 293
LOCATION #29 - PROVED UNDEVELOPED ------------------------------ 294
LOCATION #32 - PROVED UNDEVELOPED ------------------------------ 295
LOCATION #33 - PROVED UNDEVELOPED ------------------------------ 296
LOCATION #34 - PROVED UNDEVELOPED ------------------------------ 297
LOCATION #35 - PROVED UNDEVELOPED ------------------------------ 298
LOCATION #36 - PROVED UNDEVELOPED ------------------------------ 299
LOCATION #38 - PROVED UNDEVELOPED ------------------------------ 300
LOCATION #39 - PROVED UNDEVELOPED ------------------------------ 301
LOCATION #40 - PROVED UNDEVELOPED ------------------------------ 302
LOCATION #41 - PROVED UNDEVELOPED ------------------------------ 303
LOCATION #42 - PROVED UNDEVELOPED ------------------------------ 304
LOCATION #43 - PROVED UNDEVELOPED ------------------------------ 305
LOCATION #44 - PROVED UNDEVELOPED ------------------------------ 306
LOCATION #45 - PROVED UNDEVELOPED ------------------------------ 307
LOCATION #46 - PROVED UNDEVELOPED ------------------------------ 308
LOCATION #47 - PROVED UNDEVELOPED ------------------------------ 309
LOCATION #48 - PROVED UNDEVELOPED ------------------------------ 310
LOCATION #49 - PROVED UNDEVELOPED ------------------------------ 311
LOCATION #50 - PROVED UNDEVELOPED ------------------------------ 312
LOCATION #51 - PROVED UNDEVELOPED ------------------------------ 313
LOCATION #53 - PROVED UNDEVELOPED ------------------------------ 314
TENGASCO, INC.
TABLE OF CONTENTS (CONT'D)
TABLE NO.
---------
SWAN CREEK FIELD, HANCOCK CO., TENNESSEE (CONT'D)
LOCATION #54 - POSSIBLE UNDEVELOPED ---------------------------- 315
LOCATION #55 - POSSIBLE UNDEVELOPED ---------------------------- 316
LOCATION #56 - POSSIBLE UNDEVELOPED ---------------------------- 317
LOCATION #57 - POSSIBLE UNDEVELOPED ---------------------------- 318
LOCATION #58 - POSSIBLE UNDEVELOPED ---------------------------- 319
LOCATION #59 - POSSIBLE UNDEVELOPED ---------------------------- 320
LOCATION #60 - POSSIBLE UNDEVELOPED ---------------------------- 321
LOCATION #61 - POSSIBLE UNDEVELOPED ---------------------------- 322
LOCATION #62 - POSSIBLE UNDEVELOPED ---------------------------- 323
LOCATION #63 - POSSIBLE UNDEVELOPED ---------------------------- 324
LOCATION #65 - POSSIBLE UNDEVELOPED ---------------------------- 325
LOCATION #67 - POSSIBLE UNDEVELOPED ---------------------------- 326
LOCATION #68 - PROVED UNDEVELOPED ------------------------------ 327
LOCATION #69 - PROVED UNDEVELOPED ------------------------------ 328
LOCATION #70 - PROVED UNDEVELOPED ------------------------------ 329
LOCATION #71 - PROVED UNDEVELOPED ------------------------------ 330
LOCATION #72 - PROVED UNDEVELOPED ------------------------------ 331
!
TABLE A
PAGE 1 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 1,677 6,285,437 2,374,595 5.090 5.090 198
D. SUTTON HEIRS #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 1,232 4,637,542 2,316,318 4.966 10.056 281
LOCATION # 8
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 837 3,075,213 1,754,737 3.762 13.818 280
LOCATION # 5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 824 3,064,866 1,395,413 2.991 16.809 274
WARREN REED #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 753 2,722,767 1,115,810 2.392 19.201 221
LAURA J. LAWSON #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 522 1,962,415 1,053,647 2.259 21.460 210
GARY PATTON #2 BP1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 447 1,541,214 974,545 2.089 23.549 279
LOCATION # 4
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 626 2,122,837 891,240 1.911 25.459 244
PAUL REED #9
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 477 1,703,998 815,813 1.749 27.208 233
PAUL REED #4
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 509 1,706,228 798,300 1.711 28.920 269
STEPHEN LAWSON #6
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 438 1,455,721 797,588 1.710 30.629 258
RAY DEAN HELTON #4
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 447 1,533,769 771,131 1.653 32.282 299
LOCATION #36
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 626 2,433,315 745,979 1.599 33.882 204
DORIS HELTON #1 BP1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 438 1,455,721 734,070 1.574 35.455 259
RAY DEAN HELTON #6
MCHALE FIELD,
ROOKS COUNTY, KANSAS PV-PD 79,255 0 1,385,208 695,076 1.490 36.945 62
HARRISON -A- LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 335 1,288,008 673,415 1.444 38.389 273
WARREN REED #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 368 1,224,910 653,151 1.400 39.789 296
LOCATION #33
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 30,597 0 744,492 642,078 1.376 41.166 242
PAUL REED #8
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 335 1,094,913 632,540 1.356 42.522 287
LOCATION #17
TABLE A
PAGE 2 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
KRAUS FIELD,
ELLIS COUNTY, KANSAS PV-PD 73,404 0 1,314,259 615,354 1.319 43.841 46
KRAUS -A- LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 394 1,259,734 605,793 1.299 45.139 270
STEPHEN LAWSON #7
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 335 1,096,295 600,219 1.287 46.426 297
LOCATION #34
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 335 1,096,295 580,621 1.245 47.671 298
LOCATION #35
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 33,691 0 751,100 566,283 1.214 48.885 236
PAUL REED #5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 279 852,272 532,049 1.141 50.025 194
CHERYL SMITH #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 312 1,005,501 528,266 1.132 51.158 301
LOCATION #39
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 312 1,005,501 515,276 1.105 52.262 302
LOCATION #40
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS PV-PD 84,637 0 820,170 483,203 1.036 53.298 59
CROFFOOT -B- LEASE
PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS PV-PD 77,299 0 929,794 476,630 1.022 54.320 68
STAHL LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 279 877,184 474,353 1.017 55.337 300
LOCATION #38
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 315 968,323 436,842 0.936 56.273 239
PAUL REED #7
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 223 661,071 428,710 0.919 57.192 282
LOCATION #12
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 223 661,071 428,710 0.919 58.111 283
LOCATION #13
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 297 904,427 424,107 0.909 59.020 196
D. SUTTON HEIRS #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 223 662,147 420,244 0.901 59.921 288
LOCATION #19
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 223 662,147 420,244 0.901 60.822 289
LOCATION #20
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 225 669,838 378,548 0.811 61.634 304
LOCATION #42
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 352 1,262,370 365,999 0.785 62.418 243
PAUL REED #8 BP
TABLE A
PAGE 3 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 13,530 30 402,172 357,571 0.767 63.185 187
ANITA COLSON #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 190 532,755 343,848 0.737 63.922 286
LOCATION #16
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 42,314 0 700,076 337,020 0.722 64.644 78
JACO LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 193 550,276 323,487 0.693 65.338 188
ANITA COLSON #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 225 796,151 315,496 0.676 66.014 87
ALLEN #1 A&D
YOHE FIELD,
ROOKS COUNTY, KANSAS PV-PD 36,107 0 687,497 306,143 0.656 66.670 174
MOSHER LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 167 445,765 306,017 0.656 67.326 295
LOCATION #32
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 203 736,041 302,438 0.648 67.975 144
TORREY #2
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS PV-PD 34,460 0 437,670 297,848 0.639 68.613 61
DICK LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-BP 0 117 458,492 288,894 0.619 69.233 143
THIELENHAUS #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 131 406,513 265,509 0.569 69.802 251
PURKEY #5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 101 379,566 256,810 0.551 70.352 200
DEANNA CROSS #1
BEISEL FIELD,
RUSSELL COUNTY, KANSAS PV-UD 33,884 0 617,931 254,763 0.546 70.898 19
BEISEL #9 PUD
PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS PV-UD 39,644 0 674,797 253,480 0.543 71.442 69
STAHL #7 PUD
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 154 553,270 248,657 0.533 71.975 97
DECKER -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 145 447,471 247,121 0.530 72.505 133
REICHEL #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 123 376,429 246,466 0.528 73.033 250
PURKEY #4
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 167 444,001 244,289 0.524 73.557 310
LOCATION #48
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 167 444,001 244,289 0.524 74.080 309
LOCATION #47
TABLE A
PAGE 4 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 102 337,097 241,111 0.517 74.597 253
RAY DEAN HELTON #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 170 454,058 239,917 0.514 75.112 227
PAUL REED #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 167 444,959 239,701 0.514 75.625 312
LOCATION #50
SANDFORD FIELD,
BARTON COUNTY, KANSAS PV-UD 37,722 0 562,518 238,543 0.511 76.137 156
BEN TEMPERO #5 PUD
AXELSON FIELD,
ROOKS COUNTY, KANSAS PV-PD 33,717 0 602,608 237,273 0.509 76.645 17
AXELSON LEASE
PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS PV-PD 26,552 0 441,964 234,981 0.504 77.149 84
URBAN #1, 2 & 5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 123 429,898 233,895 0.501 77.651 278
WOODROW DAVIS #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 17,132 0 319,831 211,114 0.453 78.103 226
LAURA J. LAWSON #5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 77 258,974 210,874 0.452 78.555 229
PAUL REED #2 BP
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 89 315,492 200,253 0.429 78.984 138
SCHNEIDER #1
SANDFORD FIELD,
BARTON COUNTY, KANSAS PV-PD 25,431 0 339,766 199,702 0.428 79.413 155
BEN TEMPERO #1
RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS PV-BP 21,014 0 302,040 197,208 0.423 79.835 154
MAIER #1 BP
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 21,134 0 544,959 191,111 0.410 80.245 75
GARVERT -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 103 263,396 187,422 0.402 80.647 103
GIESICK #1
REICHEL WEST FIELD,
RUSH COUNTY, KANSAS PV-PD 0 185 383,858 185,525 0.398 81.045 147
LEGLEITER -A- #1-1
CONVERSE FIELD,
BARTON COUNTY, KANSAS PV-UD 21,869 0 392,673 177,869 0.381 81.426 29
IANNITTI #9 PUD
PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS PV-UD 24,495 0 490,967 174,722 0.375 81.800 85
URBAN #6 PUD
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 123 271,192 174,604 0.374 82.175 293
LOCATION #27
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 59 221,307 173,731 0.372 82.547 272
WARREN REED #1
TABLE A
PAGE 5 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS PV-UD 24,495 0 490,967 170,426 0.365 82.912 86
URBAN #7 PUD
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 84 306,840 166,968 0.358 83.270 215
HUGH ROBERTS #1 BP
WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS PV-UD 30,683 0 599,345 163,429 0.350 83.621 172
DOUGHERTY EAST #2 PUD
CONVERSE FIELD,
BARTON COUNTY, KANSAS PV-PD 27,245 0 250,758 161,314 0.346 83.967 28
IANNITTI LEASE
YOHE FIELD,
ROOKS COUNTY, KANSAS PV-PD 17,363 0 261,571 160,268 0.344 84.310 173
FINNESY LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 72 271,371 159,445 0.342 84.652 255
RAY DEAN HELTON #2 BP1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 100 241,497 158,916 0.341 84.993 267
STEPHEN LAWSON #5
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 157,989 0.339 85.331 285
LOCATION #15
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 98 310,814 157,104 0.337 85.668 132
RAU #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 155,702 0.334 86.002 284
LOCATION #14
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 16,661 0 271,563 154,644 0.332 86.333 79
ROSS LEASE
SCHWINDT FIELD,
RUSH COUNTY, KANSAS PV-PD 17,507 0 255,973 153,919 0.330 86.663 157
JACOBS -B- #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 152,831 0.328 86.991 290
LOCATION #24
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 123 271,192 151,629 0.325 87.316 308
LOCATION #46
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-BP 0 52 207,270 150,324 0.322 87.638 124
LIPPERT #3 BP
REICHEL WEST FIELD,
RUSH COUNTY, KANSAS PV-PD 0 79 207,128 149,457 0.320 87.959 149
MUTH #1&2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 149,073 0.320 88.278 294
LOCATION #29
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 149,073 0.320 88.598 292
LOCATION #26
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 149,073 0.320 88.917 291
LOCATION #25
TABLE A
PAGE 6 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 6,772 0 164,511 146,192 0.313 89.231 254
RAY DEAN HELTON #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 115 281,749 145,314 0.312 89.542 220
LAURA J. LAWSON #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 143,014 0.307 89.849 307
LOCATION #45
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 94 216,638 137,480 0.295 90.144 263
STEPHEN LAWSON #3
LITTLE RIO FIELD,
RICE COUNTY, KANSAS PV-PD 22,874 0 227,007 135,168 0.290 90.433 56
WHITEMAN-HOLLAND LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 134,943 0.289 90.723 303
LOCATION #41
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 134,943 0.289 91.012 306
LOCATION #44
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 134,943 0.289 91.301 305
LOCATION #43
WERTH NORTH FIELD,
ELLIS COUNTY, KANSAS PV-PD 19,604 0 222,079 134,363 0.288 91.589 169
SCHNELLER LEASE
COOPER FIELD,
GRAHAM COUNTY, KANSAS PV-PD 16,929 0 240,882 133,562 0.286 91.876 31
LEWIS LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 8,390 6 180,999 133,299 0.286 92.161 266
STEPHEN LAWSON #4 BP
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 95 282,275 130,764 0.280 92.442 107
HANHARDT -A- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 129,458 0.278 92.719 311
LOCATION #49
SPRING CREEK FIELD,
TREGO COUNTY, KANSAS PV-PD 16,385 0 187,574 128,849 0.276 92.995 158
RIDGWAY #1
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS PV-PD 29,664 0 174,054 127,373 0.273 93.268 57
CROFFOOT LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 103 267,847 127,321 0.273 93.541 100
FOOS #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 96 367,333 126,456 0.271 93.812 109
HOFFMAN #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 125,231 0.268 94.081 313
LOCATION #51
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 112 230,804 125,231 0.268 94.349 314
LOCATION #53
TABLE A
PAGE 7 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 38 144,255 123,855 0.266 94.615 214
HUGH ROBERTS #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 112 421,603 122,558 0.263 94.878 201
DEANNA CROSS #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 120,384 0.258 95.136 328
LOCATION #69
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 120,384 0.258 95.394 327
LOCATION #68
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 264 882,168 118,691 0.254 95.648 231
PAUL REED #3 BP1
GIESICK FIELD,
RUSH COUNTY, KANSAS PV-PD 0 95 335,558 117,745 0.252 95.901 40
GIESICK #2
CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS PV-PD 18,317 0 205,098 117,718 0.252 96.153 24
LANDER #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 115,491 0.248 96.400 331
LOCATION #72
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 115,491 0.248 96.648 330
LOCATION #71
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 111 227,438 115,491 0.248 96.896 329
LOCATION #70
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS PV-PD 18,399 0 191,901 111,546 0.239 97.135 60
CROFFOOT -C- LEASE
KRAUS FIELD,
ELLIS COUNTY, KANSAS PV-PD 16,601 0 155,444 108,867 0.233 97.368 48
KRAUS -I- LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 86 307,949 107,681 0.231 97.599 130
OCHS -A- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 452 1,707,988 105,099 0.225 97.824 268
STEPHEN LAWSON #5 BP
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-BP 0 38 140,963 104,378 0.224 98.048 108
HANHARDT -A- #1BP
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 102 214,686 101,428 0.217 98.265 123
LIPPERT #3
PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS PV-BP 0 40 143,513 99,520 0.213 98.479 83
URBAN -K- #5 BP
REICHEL EAST FIELD,
RUSH COUNTY, KANSAS PV-PD 0 74 265,228 96,951 0.208 98.687 146
BAHR #1
RIDGEWAY SOUTH FIELD,
TREGO COUNTY, KANSAS PV-PD 9,652 0 130,348 95,923 0.206 98.892 150
SCHOENTHALER #3
TABLE A
PAGE 8 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 12,382 0 276,104 95,748 0.205 99.098 76
GARVERT -B- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 74 284,418 93,499 0.200 99.298 136
SCHEUERMAN #56
BIELMAN FIELD,
ELLIS COUNTY, KANSAS PV-PD 10,792 0 127,936 93,097 0.200 99.498 20
GRASS #5
DAVIDSON FIELD,
RUSSELL COUNTY, KANSAS PV-PD 12,945 0 116,372 92,137 0.198 99.695 32
FOSTER LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 69 162,733 88,574 0.190 99.885 247
PURKEY #3
KRAUS FIELD,
ELLIS COUNTY, KANSAS PV-PD 12,361 0 141,635 88,098 0.189 100.074 47
KRAUS -B- LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 70 216,298 86,720 0.186 100.260 93
BIEBER -A- #1
WEBSTER FIELD,
ROOKS COUNTY, KANSAS PV-PD 8,663 0 127,994 83,510 0.179 100.439 167
CERROW-CERROW -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 43 149,729 82,678 0.177 100.616 90
APPL #2
MCHALE FIELD,
ROOKS COUNTY, KANSAS PV-PD 14,378 0 128,521 82,222 0.176 100.792 63
HILGERS -B- LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 57 138,532 80,321 0.172 100.964 277
WELLS/YEARY #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 50 193,549 76,090 0.163 101.128 104
GILLIG #1
STOCKTON FIELD,
ROOKS COUNTY, KANSAS PV-PD 12,838 0 154,331 75,611 0.162 101.290 160
STEBBINS #1
OMLOR FIELD,
STAFFORD COUNTY, KANSAS PV-PD 7,474 0 112,445 72,808 0.156 101.446 66
WILLIAMS #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 52 100,174 72,123 0.155 101.600 237
PAUL REED #6
THACKER FIELD,
RUSSELL COUNTY, KANSAS PV-PD 6,643 0 87,556 70,566 0.151 101.752 164
THACKER #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 47 108,454 69,161 0.148 101.900 216
JEFF JOHNSON #1
DISTRICT 57 FIELD,
ELLIS COUNTY, KANSAS PV-PD 14,131 0 150,247 68,187 0.146 102.046 33
FLAX #1
WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS PV-PD 11,367 0 159,930 68,060 0.146 102.192 170
DOUGHERTY EAST #1
TABLE A
PAGE 9 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
TRAPP FIELD,
BARTON COUNTY, KANSAS PV-PD 9,142 0 103,809 67,609 0.145 102.337 166
HOWLIER #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 49 125,827 66,974 0.144 102.480 120
KOBER #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 47 158,444 65,675 0.141 102.621 105
GRUMBEIN -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 41 78,717 65,061 0.139 102.761 134
ROTHE #1-31
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 57 183,924 64,273 0.138 102.898 139
SHERWOOD #1
HOBROCK FIELD,
OSBORNE COUNTY, KANSAS PV-PD 5,694 0 78,247 63,903 0.137 103.035 44
HOGAN LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 32 93,838 63,378 0.136 103.171 135
ROTHE, R. #1
CENTERVIEW FIELD,
STAFFORD COUNTY, KANSAS PV-PD 9,742 0 89,273 62,903 0.135 103.306 23
BECKERDITE #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 49 92,799 60,885 0.131 103.437 230
PAUL REED #3
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 26 97,151 60,475 0.130 103.566 142
THIELENHAUS #1
PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS PV-PD 6,173 0 124,876 58,649 0.126 103.692 82
URBAN -K- #5
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS PV-PD 9,713 0 93,699 56,536 0.121 103.813 58
CROFFOOT -A- LEASE
CHEYENNE FIELD,
BARTON COUNTY, KANSAS PV-PD 8,848 0 81,783 56,500 0.121 103.934 27
HAMMEKE #1
ARPIN SOUTH FIELD,
ROOKS COUNTY, KANSAS PV-PD 5,786 0 71,542 56,172 0.120 104.055 15
THYFAULT #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 25,374 17 638,124 55,279 0.119 104.173 264
STEPHEN LAWSON #3 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 41 72,971 55,210 0.118 104.292 213
HAZEL SUTTON #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 40 113,363 54,807 0.117 104.409 116
KAISER #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 23 93,343 52,654 0.113 104.522 118
KLEWENO #1-21
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 7,929 0 83,210 52,111 0.112 104.634 77
HARRISON -C- LEASE
TABLE A
PAGE 10 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 47 140,531 51,531 0.110 104.744 89
APPL #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 40 126,148 50,341 0.108 104.852 106
HANHARDT #1
GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS PV-PD 12,124 0 69,332 50,048 0.107 104.959 39
SCHULZ LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 2,249 0 53,478 49,701 0.107 105.066 193
CHERYL SMITH #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 604 2,342,205 49,493 0.106 105.172 234
PAUL REED #4 BP1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 31 117,083 47,386 0.102 105.274 127
LIPPERT -C- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 3,521 0 56,269 46,185 0.099 105.373 191
BOBBY YEARY #2
RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS PV-PD 6,186 0 78,359 45,903 0.098 105.471 151
KELLER LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 13,530 45 449,862 45,857 0.098 105.569 211
GARY PATTON #2 BP2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 25 70,045 44,602 0.096 105.665 98
EDWARDS #1
STOCKTON FIELD,
ROOKS COUNTY, KANSAS PV-PD 9,056 0 79,644 44,269 0.095 105.760 159
HINDMAN #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 41 70,852 42,490 0.091 105.851 92
BIEBER #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 35 108,928 39,523 0.085 105.936 113
HONDERICK -C- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 890 3,552,153 39,247 0.084 106.020 275
WARREN REED #2 BP1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 10,235 0 222,945 38,409 0.082 106.102 238
PAUL REED #6 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 26 45,751 38,139 0.082 106.184 203
DORIS HELTON #1
CARPENTER FIELD,
EDWARDS COUNTY, KANSAS PV-PD 5,719 0 65,656 35,472 0.076 106.260 21
HENNING #1
OMLOR FIELD,
STAFFORD COUNTY, KANSAS PV-PD 4,067 0 49,938 35,039 0.075 106.335 65
MILLER #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 32 90,692 32,846 0.070 106.405 95
BREIT #1
TABLE A
PAGE 11 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS PV-PD 7,615 0 38,727 32,069 0.069 106.474 152
KELLER -A- LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 19 56,162 31,748 0.068 106.542 145
URBAN R & A #1
BEISEL FIELD,
RUSSELL COUNTY, KANSAS PV-PD 10,390 0 37,167 31,021 0.067 106.609 18
BEISEL LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 141 277,846 30,721 0.066 106.675 225
LAURA J. LAWSON #4 BP
CARROLL FIELD,
BARTON COUNTY, KANSAS PV-PD 8,855 0 40,850 28,873 0.062 106.737 22
KEENAN -B- LEASE
LEIKER EAST FIELD,
ELLIS COUNTY, KANSAS PV-PD 4,160 0 47,794 28,470 0.061 106.798 49
LEIKER #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 23 51,057 28,261 0.061 106.858 119
KLEWENO -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 1,767 0 39,453 27,481 0.059 106.917 96
BREIT-HOLZMEISTER -B-
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 98 349,855 27,320 0.059 106.976 205
DORIS HELTON #1 BP2
STOCKTON FIELD,
ROOKS COUNTY, KANSAS PV-PD 5,201 0 38,000 27,227 0.058 107.034 161
WATTS #1
ELLIS NW FIELD,
TREGO COUNTY, KANSAS PV-PD 5,089 0 32,243 25,211 0.054 107.088 36
BAUGHER #1
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 3,444 0 41,969 23,889 0.051 107.139 73
ANDERSON -A- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-UD 0 70 57,684 23,381 0.050 107.189 217
JEFF JOHNSON #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 29 31,935 22,669 0.049 107.238 224
LAURA J. LAWSON #4
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 2,394 0 27,114 21,951 0.047 107.285 261
STEPHEN LAWSON #1
WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS PV-BP 2,453 0 55,316 21,895 0.047 107.332 171
DOUGHERTY EAST #1 BP
HOBROCK FIELD,
OSBORNE COUNTY, KANSAS PV-PD 2,851 0 33,567 21,534 0.046 107.378 43
HOBROCK #4
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 13 22,398 18,781 0.040 107.418 140
STEITZ -A- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 22 25,889 18,096 0.039 107.457 101
FOOS -A- #1
TABLE A
PAGE 12 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 15 46,235 18,085 0.039 107.496 256
RAY DEAN HELTON #2 BP2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 9 35,013 17,695 0.038 107.534 126
LIPPERT -B- #2
STREMEL FIELD,
RUSH COUNTY, KANSAS PV-PD 1,502 0 18,210 15,804 0.034 107.568 163
URBAN -D- LEASE
COOPER FIELD,
GRAHAM COUNTY, KANSAS PV-PD 5,265 0 13,398 11,893 0.025 107.593 30
DEYOUNG LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 18 15,347 11,775 0.025 107.618 223
LAURA J. LAWSON #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 112 404,623 10,245 0.022 107.640 248
PURKEY #3 BP1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 12 14,487 10,082 0.022 107.662 137
SCHLITTER #2
WEBSTER FIELD,
ROOKS COUNTY, KANSAS PV-PD 2,147 0 10,136 8,653 0.019 107.681 168
LOWRY #1
LEONHARDT SOUTHEAST FIELD,
ELLIS COUNTY, KANSAS PV-PD 3,026 0 9,386 8,125 0.017 107.698 50
KRAUS LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 537 0 6,712 5,952 0.013 107.711 117
KAISER -A- #1
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 9 8,244 5,324 0.011 107.722 53
LEGLEITER -B- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 140 505,035 5,268 0.011 107.733 197
D. SUTTON HEIRS #1 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 130 472,522 4,542 0.010 107.743 240
PAUL REED #7 BP1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 4 2,932 2,756 0.006 107.749 265
STEPHEN LAWSON #4
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 8 2,950 2,692 0.006 107.755 141
STEITZ -B- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 6 2,524 2,326 0.005 107.760 207
FRED PORTRUM #1
PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS PV-PD 1,824 0 2,227 2,124 0.005 107.764 71
OETKIN LEASE
PLEASANT FIELD,
ELLIS COUNTY, KANSAS PV-PD 799 0 1,724 1,583 0.003 107.768 81
HONAS #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 42 147,126 1,403 0.003 107.771 249
PURKEY #3 BP2
TABLE A
PAGE 13 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
HERMAN FIELD,
BARTON COUNTY, KANSAS PV-PD 1,375 0 1,461 1,370 0.003 107.774 42
H. KARST LEASE
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 1 1,560 1,252 0.003 107.776 102
FRYE #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 1 856 775 0.002 107.778 94
BRACK -A- #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 0 601 597 0.001 107.779 208
FRED PORTRUM #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 2 562 526 0.001 107.781 245
PURKEY #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 14 27,884 477 0.001 107.782 232
PAUL REED #3 BP2
TRAPP FIELD,
BARTON COUNTY, KANSAS PV-PD 259 0 190 185 0.000 107.782 165
DEUTSCH
IRVIN FIELD,
ELLIS COUNTY, KANSAS PV-PD 438 0 67 66 0.000 107.782 45
KINDERKNECHT -B- LEASE
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 17 0 44 44 0.000 107.782 257
RAY DEAN HELTON #3
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 54
LEGLEITER -C- #1
GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 38
HOFFMAN #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 192
BOBBY YEARY #3
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 209
GARY PATTON #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 0 0 0 0.000 107.782 252
RAY DEAN HELTON #1
GOTTSCHALK FIELD,
ELLIS COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 41
WERTH #1
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 55
LEGLEITER -C- #2
DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 35
LOVETT #1
ASH CREEK FIELD,
BARTON COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 16
UNRUH #2
DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 34
BARSTOW #1
TABLE A
PAGE 14 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 0 0 0 0.000 107.782 190
BOBBY YEARY #1BP
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 111
HOLZMEISTER -A- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 202
DEWEY SUTTON #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 121
LEBSACK -A- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 262
STEPHEN LAWSON #2
FICKEN FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 37
SCHWINDT FARMS #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 260
ROSE #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 246
PURKEY #2
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 52
GRAHAM #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 91
BEAHM #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 128
MCGILL #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 129
O'DELL #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 112
HOLZMEISTER -B- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 131
PFEIFER -B- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 195
CHEVRON REED #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 115
JANSON -A- #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 125
LIPPERT -B- #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 99
ELDER #19
CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 26
ROSE LEASE
TABLE A
PAGE 15 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
MCHALE FIELD,
ROOKS COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 64
KABA #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 0 0 0 0.000 107.782 222
LAURA J. LAWSON #2 BP
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 0 0 0 0.000 107.782 241
PAUL REED #7 BP2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 122
LIPPERT #2
OTIS-ALBERT FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 67
HARTMAN -C- #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 186
ANITA COLSON #1
PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 70
O'SCHULTZ #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 228
PAUL REED #2
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 0 0 0 0.000 107.782 189
BOBBY YEARY #1
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 110
HOLZMEISTER #1
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 74
BARDOT #1
REICHEL WEST FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 148
LEGLEITER -A- #1-2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 114
HOOFER #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-SI 0 0 0 0 0.000 107.782 271
T.J. HARRISON #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 0 0 0 0.000 107.782 235
PAUL REED #4 BP2
PLEASANT FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 80
BASGALL -C- #4
RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 153
MAIER #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-PD 0 0 0 0 0.000 107.782 199
DARNELL SUTTON #1
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE PV-BP 0 0 0 0 0.000 107.782 276
WARREN REED #2 BP2
TABLE A
PAGE 16 OF 16
TENGASCO, INC.
PROPERTY RANKING BY PROVED DISCOUNTED FUTURE NET INCOME
SEC CASE
AS OF DECEMBER 31, 2002
($)
----NET RESERVES---- ($) FUTURE NET PERCENT CUMULATIVE
(A) (BARRELS) (MMCF) FUTURE NET INCOME DISC. OF PERCENT TABLE
STATUS OIL/COND.(B) GAS INCOME (C) AT 10.0% TOTAL OF TOTAL NUMBER
------ ------------ ------ ---------- ----------- -------- ---------- -------
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 51
DECHANT -B- #2
REICHEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 88
ANDRE #1
STREMEL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 0 0 0.000 107.782 162
OCHS #1 & 3
VARIOUS FIELD,
ALL COUNTY, KANSAS PV-BP 0 0 -169,440 -103,599 -0.222 107.560 177
KANSAS FIXED COSTS 2PBP
VARIOUS FIELD,
ALL COUNTY, KANSAS PV-UD 0 0 -958,282 -283,607 -0.608 106.952 178
KANSAS FIXED COSTS 3PUD
ALL FIELD,
RUSH COUNTY, KANSAS PV-PD 0 0 -1,866,760 -506,804 -1.086 105.866 175
OTIS COMPRESSOR STATION
VARIOUS FIELD,
ALL COUNTY, KANSAS PV-PD 0 0 -6,809,084 -2,736,220 -5.866 100.000 176
KANSAS FIXED COSTS 1PDP
--------- ------ ---------- ---------- ------- -------
**** TOTALS **** 1,475,899 26,599 98,962,004 46,648,020 100.000 100.000
(A) RESERVE TYPES: PV = PROVED STATUS: PD = PRODUCING DP = DEPLETED
PB = PROBABLE BP = BEHIND PIPE NP = NON-PRODUCING
PS = POSSIBLE SI = SHUT IN PB = PAYBACK
UD = UNDEVELOPED
(B) EXCLUDES PLANT PRODUCTS
(C) BEFORE FEDERAL OR STATE/PROVINCE INCOME TAXES
TABLE B
PAGE 1 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
KANSAS PROPERTIES
- -----------------
ARPIN SOUTH FIELD, ROOKS COUNTY, KANSAS
THYFAULT #1 PV-PD 7,053 0 5,786 0 156,926 85,384 71,542 56,172
ASH CREEK FIELD, BARTON COUNTY, KANSAS
UNRUH #2 PV-PD 0 0 0 0 0 0 0 0
AXELSON FIELD, ROOKS COUNTY, KANSAS
AXELSON LEASE PV-PD 42,519 0 33,717 0 914,512 311,904 602,608 237,273
BEISEL FIELD, RUSSELL COUNTY, KANSAS
BEISEL LEASE PV-PD 11,874 0 10,390 0 281,817 244,650 37,167 31,021
BEISEL #9 PUD PV-UD 38,724 0 33,884 0 919,040 301,109 617,931 254,763
BIELMAN FIELD, ELLIS COUNTY, KANSAS
GRASS #5 PV-PD 12,334 0 10,792 0 292,716 164,780 127,936 93,097
CARPENTER FIELD, EDWARDS COUNTY, KANSAS
HENNING #1 PV-PD 8,069 0 5,719 0 155,132 89,476 65,656 35,472
CARROLL FIELD, BARTON COUNTY, KANSAS
KEENAN -B- LEASE PV-PD 10,193 0 8,855 0 240,167 199,317 40,850 28,873
CENTERVIEW FIELD, STAFFORD COUNTY, KANSAS
BECKERDITE #1 PV-PD 12,065 0 9,742 0 264,244 174,971 89,273 62,903
CHASE-SILICA FIELD, BARTON COUNTY, KANSAS
LANDER #1 PV-PD 24,692 0 18,317 0 496,810 291,712 205,098 117,718
LANDER #3 PBUD PB-UD 49,981 0 37,076 0 1,005,634 439,506 566,128 239,032
ROSE LEASE PV-PD 0 0 0 0 0 0 0 0
CHEYENNE FIELD, BARTON COUNTY, KANSAS
HAMMEKE #1 PV-PD 10,609 0 8,848 0 239,985 158,202 81,783 56,500
CONVERSE FIELD, BARTON COUNTY, KANSAS
IANNITTI LEASE PV-PD 31,137 0 27,245 0 738,978 488,220 250,758 161,314
IANNITTI #9 PUD PV-UD 24,993 0 21,869 0 593,162 200,489 392,673 177,869
COOPER FIELD, GRAHAM COUNTY, KANSAS
DEYOUNG LEASE PV-PD 6,018 0 5,265 0 142,818 129,420 13,398 11,893
LEWIS LEASE PV-PD 19,348 0 16,929 0 459,182 218,300 240,882 133,562
DAVIDSON FIELD, RUSSELL COUNTY, KANSAS
FOSTER LEASE PV-PD 15,271 0 12,945 0 351,112 234,740 116,372 92,137
DISTRICT 57 FIELD, ELLIS COUNTY, KANSAS
FLAX #1 PV-PD 16,150 0 14,131 0 383,291 233,044 150,247 68,187
DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS
BARSTOW #1 PV-PD 0 0 0 0 0 0 0 0
LOVETT #1 PV-PD 0 0 0 0 0 0 0 0
ELLIS NW FIELD, TREGO COUNTY, KANSAS
BAUGHER #1 PV-PD 6,647 0 5,089 0 138,043 105,800 32,243 25,211
FICKEN FIELD, RUSH COUNTY, KANSAS
SCHWINDT FARMS #1 PV-PD 0 0 0 0 0 0 0 0
GATES NORTH FIELD, STAFFORD COUNTY, KANSAS
HOFFMAN #1 PV-PD 0 0 0 0 0 0 0 0
SCHULZ LEASE PV-PD 21,866 0 12,124 0 328,836 259,504 69,332 50,048
GIESICK FIELD, RUSH COUNTY, KANSAS
GIESICK #2 PV-PD 0 118 0 95 385,022 49,464 335,558 117,745
GOTTSCHALK FIELD, ELLIS COUNTY, KANSAS
WERTH #1 PV-PD 0 0 0 0 0 0 0 0
HERMAN FIELD, BARTON COUNTY, KANSAS
H. KARST LEASE PV-PD 1,959 0 1,375 0 37,302 35,841 1,461 1,370
TABLE B
PAGE 2 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
HOBROCK FIELD, OSBORNE COUNTY, KANSAS
HOBROCK #4 PV-PD 5,915 0 2,851 0 77,320 43,753 33,567 21,534
HOGAN LEASE PV-PD 11,838 0 5,694 0 154,434 76,187 78,247 63,903
IRVIN FIELD, ELLIS COUNTY, KANSAS
KINDERKNECHT -B- LEASE PV-PD 501 0 438 0 11,891 11,824 67 66
KRAUS FIELD, ELLIS COUNTY, KANSAS
KRAUS -A- LEASE PV-PD 89,483 0 73,404 0 1,990,969 676,710 1,314,259 615,354
KRAUS -B- LEASE PV-PD 14,127 0 12,361 0 335,275 193,640 141,635 88,098
KRAUS -I- LEASE PV-PD 20,238 0 16,601 0 450,284 294,840 155,444 108,867
LEIKER EAST FIELD, ELLIS COUNTY, KANSAS
LEIKER #1 PV-PD 11,410 0 4,160 0 112,832 65,038 47,794 28,470
LEONHARDT SOUTHEAST FIELD, ELLIS COUNTY, KANSAS
KRAUS LEASE PV-PD 3,816 0 3,026 0 82,074 72,688 9,386 8,125
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS
DECHANT -B- #2 PV-PD 0 0 0 0 0 0 0 0
GRAHAM #1 PV-PD 0 0 0 0 0 0 0 0
LEGLEITER -B- #1 PV-PD 0 12 0 9 37,668 29,424 8,244 5,324
LEGLEITER -C- #1 PV-PD 0 0 0 0 0 0 0 0
LEGLEITER -C- #2 PV-PD 0 0 0 0 0 0 0 0
LITTLE RIO FIELD, RICE COUNTY, KANSAS
WHITEMAN-HOLLAND LEASE PV-PD 27,884 0 22,874 0 620,421 393,414 227,007 135,168
MARCOTTE FIELD, ROOKS COUNTY, KANSAS
CROFFOOT LEASE PV-PD 34,440 0 29,664 0 804,606 630,552 174,054 127,373
CROFFOOT -A- LEASE PV-PD 11,289 0 9,713 0 263,439 169,740 93,699 56,536
CROFFOOT -B- LEASE PV-PD 103,177 0 84,637 0 2,295,666 1,475,496 820,170 483,203
CROFFOOT -C- LEASE PV-PD 22,809 0 18,399 0 499,043 307,142 191,901 111,546
DICK LEASE PV-PD 39,383 0 34,460 0 934,686 497,016 437,670 297,848
MCHALE FIELD, ROOKS COUNTY, KANSAS
HARRISON -A- LEASE PV-PD 90,577 0 79,255 0 2,149,676 764,468 1,385,208 695,076
HILGERS -B- LEASE PV-PD 16,432 0 14,378 0 389,977 261,456 128,521 82,222
KABA #2 PV-PD 0 0 0 0 0 0 0 0
OMLOR FIELD, STAFFORD COUNTY, KANSAS
MILLER #1 PV-PD 5,738 0 4,067 0 110,314 60,376 49,938 35,039
WILLIAMS #1 PV-PD 10,450 0 7,474 0 202,717 90,272 112,445 72,808
OTIS-ALBERT FIELD, RUSH COUNTY, KANSAS
HARTMAN -C- #1 PV-PD 0 0 0 0 0 0 0 0
PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS
STAHL LEASE PV-PD 91,614 0 77,299 0 2,096,626 1,166,832 929,794 476,630
STAHL #7 PUD PV-UD 46,986 0 39,644 0 1,075,297 400,500 674,797 253,480
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS
O'SCHULTZ #1 PV-PD 0 0 0 0 0 0 0 0
OETKIN LEASE PV-PD 2,295 0 1,824 0 49,466 47,239 2,227 2,124
OETKIN #8 PBUD PB-UD 18,990 0 15,091 0 409,318 341,059 68,259 20,893
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS
ANDERSON -A- #1 PV-PD 3,936 0 3,444 0 93,414 51,445 41,969 23,889
BARDOT #1 PV-PD 0 0 0 0 0 0 0 0
GARVERT -A- #1 PV-PD 24,153 0 21,134 0 573,231 28,272 544,959 191,111
GARVERT -B- #1 PV-PD 14,151 0 12,382 0 335,840 59,736 276,104 95,748
HARRISON -C- LEASE PV-PD 9,062 0 7,929 0 215,074 131,864 83,210 52,111
JACO LEASE PV-PD 48,359 0 42,314 0 1,147,708 447,632 700,076 337,020
ROSS LEASE PV-PD 19,041 0 16,661 0 451,899 180,336 271,563 154,644
PLEASANT FIELD, RUSH COUNTY, KANSAS
BASGALL -C- #4 PV-PD 0 0 0 0 0 0 0 0
PLEASANT FIELD, ELLIS COUNTY, KANSAS
HONAS #3 PV-PD 973 0 799 0 21,660 19,936 1,724 1,583
PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS
URBAN -K- #5 PV-PD 7,055 0 6,173 0 167,437 42,561 124,876 58,649
URBAN -K- #5 BP PV-BP 0 50 0 40 163,345 19,832 143,513 99,520
TABLE B
PAGE 3 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS
URBAN #1, 2 & 5 PV-PD 30,345 0 26,552 0 720,172 278,208 441,964 234,981
URBAN #6 PUD PV-UD 27,995 0 24,495 0 664,397 173,430 490,967 174,722
URBAN #7 PUD PV-UD 27,995 0 24,495 0 664,397 173,430 490,967 170,426
REICHEL FIELD, RUSH COUNTY, KANSAS
ALLEN #1 A&D PV-PD 0 280 0 225 914,483 118,332 796,151 315,496
ANDRE #1 PV-PD 0 0 0 0 0 0 0 0
APPL #1 PV-PD 0 58 0 47 188,740 48,209 140,531 51,531
APPL #2 PV-PD 0 57 0 43 174,607 24,878 149,729 82,678
BEAHM #1 PV-PD 0 0 0 0 0 0 0 0
BIEBER #1 PV-PD 0 55 0 41 167,002 96,150 70,852 42,490
BIEBER -A- #1 PV-PD 0 93 0 70 283,859 67,561 216,298 86,720
BRACK -A- #3 PV-PD 0 2 0 1 5,467 4,611 856 775
BREIT #1 PV-PD 0 40 0 32 129,210 38,518 90,692 32,846
BREIT-HOLZMEISTER -B- PV-PD 2,052 0 1,767 0 47,940 8,487 39,453 27,481
DECKER -A- #1 PV-PD 0 193 0 154 626,244 72,974 553,270 248,657
EDWARDS #1 PV-PD 0 31 0 25 99,955 29,910 70,045 44,602
ELDER #19 PV-PD 0 0 0 0 0 0 0 0
FOOS #1 PV-PD 0 136 0 103 416,249 148,402 267,847 127,321
FOOS -A- #1 PV-PD 0 29 0 22 89,135 63,246 25,889 18,096
FRYE #2 PV-PD 0 2 0 1 5,620 4,060 1,560 1,252
GIESICK #1 PV-PD 0 128 0 103 419,272 155,876 263,396 187,422
GILLIG #1 PV-PD 0 62 0 50 203,480 9,931 193,549 76,090
GRUMBEIN -A- #1 PV-PD 0 58 0 47 188,870 30,426 158,444 65,675
HANHARDT #1 PV-PD 0 53 0 40 163,388 37,240 126,148 50,341
HANHARDT -A- #1 PV-PD 0 126 0 95 384,679 102,404 282,275 130,764
HANHARDT -A- #1BP PV-BP 0 50 0 38 152,963 12,000 140,963 104,378
HOFFMAN #3 PV-PD 0 128 0 96 391,318 23,985 367,333 126,456
HOLZMEISTER #1 PV-PD 0 0 0 0 0 0 0 0
HOLZMEISTER -A- #1 PV-PD 0 0 0 0 0 0 0 0
HOLZMEISTER -B- #1 PV-PD 0 0 0 0 0 0 0 0
HONDERICK -C- #1 PV-PD 0 43 0 35 141,094 32,166 108,928 39,523
HOOFER #1 PV-PD 0 0 0 0 0 0 0 0
JANSON -A- #2 PV-PD 0 0 0 0 0 0 0 0
KAISER #2 PV-PD 0 49 0 40 161,041 47,678 113,363 54,807
KAISER -A- #1 PV-PD 614 0 537 0 14,573 7,861 6,712 5,952
KLEWENO #1-21 PV-PD 0 31 0 23 93,517 174 93,343 52,654
KLEWENO -A- #1 PV-PD 0 29 0 23 93,978 42,921 51,057 28,261
KOBER #1 PV-PD 0 61 0 49 199,738 73,911 125,827 66,974
LEBSACK -A- #1 PV-PD 0 0 0 0 0 0 0 0
LIPPERT #2 PV-PD 0 0 0 0 0 0 0 0
LIPPERT #3 PV-PD 0 127 0 102 413,711 199,025 214,686 101,428
LIPPERT #3 BP PV-BP 0 65 0 52 212,270 5,000 207,270 150,324
LIPPERT -B- #1 PV-PD 0 0 0 0 0 0 0 0
LIPPERT -B- #2 PV-PD 0 12 0 9 35,084 71 35,013 17,695
LIPPERT -C- #1 PV-PD 0 44 0 31 125,541 8,458 117,083 47,386
MCGILL #2 PV-PD 0 0 0 0 0 0 0 0
O'DELL #1 PV-PD 0 0 0 0 0 0 0 0
OCHS -A- #1 PV-PD 0 107 0 86 348,686 40,737 307,949 107,681
PFEIFER -B- #1 PV-PD 0 0 0 0 0 0 0 0
RAU #1 PV-PD 0 130 0 98 397,219 86,405 310,814 157,104
REICHEL #1 PV-PD 0 181 0 145 589,951 142,480 447,471 247,121
ROTHE #1-31 PV-PD 0 50 0 41 164,449 85,732 78,717 65,061
ROTHE, R. #1 PV-PD 0 43 0 32 130,621 36,783 93,838 63,378
SCHEUERMAN #56 PV-PD 0 92 0 74 299,990 15,572 284,418 93,499
SCHLITTER #2 PV-PD 0 15 0 12 48,829 34,342 14,487 10,082
SCHNEIDER #1 PV-PD 0 118 0 89 361,480 45,988 315,492 200,253
SHERWOOD #1 PV-PD 0 78 0 57 231,794 47,870 183,924 64,273
STEITZ -A- #1 PV-PD 0 17 0 13 54,101 31,703 22,398 18,781
STEITZ -B- #1 PV-PD 0 11 0 8 32,284 29,334 2,950 2,692
THIELENHAUS #1 PV-PD 0 33 0 26 106,686 9,535 97,151 60,475
THIELENHAUS #1 BP PV-BP 0 145 0 117 473,492 15,000 458,492 288,894
TORREY #2 PV-PD 0 256 0 203 822,315 86,274 736,041 302,438
URBAN R & A #1 PV-PD 0 24 0 19 77,097 20,935 56,162 31,748
REICHEL EAST FIELD, RUSH COUNTY, KANSAS
BAHR #1 PV-PD 0 92 0 74 300,408 35,180 265,228 96,951
REICHEL WEST FIELD, RUSH COUNTY, KANSAS
LEGLEITER -A- #1-1 PV-PD 0 272 0 185 749,454 365,596 383,858 185,525
LEGLEITER -A- #1-2 PV-PD 0 0 0 0 0 0 0 0
MUTH #1&2 PV-PD 0 119 0 79 320,348 113,220 207,128 149,457
TABLE B
PAGE 4 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
RIDGEWAY SOUTH FIELD, TREGO COUNTY, KANSAS
SCHOENTHALER #3 PV-PD 11,767 0 9,652 0 261,808 131,460 130,348 95,923
RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS
KELLER LEASE PV-PD 7,070 0 6,186 0 167,793 89,434 78,359 45,903
KELLER -A- LEASE PV-PD 8,702 0 7,615 0 206,535 167,808 38,727 32,069
RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS
MAIER #1 PV-PD 0 0 0 0 0 0 0 0
MAIER #1 BP PV-BP 31,085 0 21,014 0 569,980 267,940 302,040 197,208
SANDFORD FIELD, BARTON COUNTY, KANSAS
BEN TEMPERO #1 PV-PD 31,002 0 25,431 0 689,784 350,018 339,766 199,702
BEN TEMPERO #5 PUD PV-UD 45,985 0 37,722 0 1,023,147 460,629 562,518 238,543
SCHWINDT FIELD, RUSH COUNTY, KANSAS
JACOBS -B- #3 PV-PD 20,008 0 17,507 0 474,844 218,871 255,973 153,919
SPRING CREEK FIELD, TREGO COUNTY, KANSAS
RIDGWAY #1 PV-PD 21,025 0 16,385 0 444,420 256,846 187,574 128,849
STOCKTON FIELD, ROOKS COUNTY, KANSAS
HINDMAN #1 PV-PD 11,189 0 9,056 0 245,628 165,984 79,644 44,269
STEBBINS #1 PV-PD 17,081 0 12,838 0 348,209 193,878 154,331 75,611
WATTS #1 PV-PD 6,426 0 5,201 0 141,082 103,082 38,000 27,227
STREMEL FIELD, RUSH COUNTY, KANSAS
OCHS #1 & 3 PV-PD 0 0 0 0 0 0 0 0
URBAN -D- LEASE PV-PD 1,717 0 1,502 0 40,750 22,540 18,210 15,804
THACKER FIELD, RUSSELL COUNTY, KANSAS
THACKER #2 PV-PD 7,837 0 6,643 0 180,184 92,628 87,556 70,566
TRAPP FIELD, BARTON COUNTY, KANSAS
DEUTSCH PV-PD 316 0 259 0 7,030 6,840 190 185
HOWLIER #1 PV-PD 11,894 0 9,142 0 247,959 144,150 103,809 67,609
WEBSTER FIELD, ROOKS COUNTY, KANSAS
CERROW-CERROW -A- #1 PV-PD 9,901 0 8,663 0 234,975 106,981 127,994 83,510
LOWRY #1 PV-PD 2,533 0 2,147 0 58,248 48,112 10,136 8,653
WERTH NORTH FIELD, ELLIS COUNTY, KANSAS
SCHNELLER LEASE PV-PD 23,898 0 19,604 0 531,736 309,657 222,079 134,363
WESTHUSIN FIELD, ROOKS COUNTY, KANSAS
DOUGHERTY EAST #1 PV-PD 14,830 0 11,367 0 308,319 148,389 159,930 68,060
DOUGHERTY EAST #1 BP PV-BP 3,200 0 2,453 0 66,529 11,213 55,316 21,895
DOUGHERTY EAST #2 PUD PV-UD 40,030 0 30,683 0 832,231 232,886 599,345 163,429
YOHE FIELD, ROOKS COUNTY, KANSAS
FINNESY LEASE PV-PD 19,843 0 17,363 0 470,935 209,364 261,571 160,268
MOSHER LEASE PV-PD 41,265 0 36,107 0 979,337 291,840 687,497 306,143
ALL FIELD, RUSH COUNTY, KANSAS
OTIS COMPRESSOR STATION PV-PD 0 0 0 0 0 1,866,760 -1,866,760 -506,804
VARIOUS FIELD, ALL COUNTY, KANSAS
KANSAS FIXED COSTS 1PDP PV-PD 0 0 0 0 0 6,809,084 -6,809,084 -2,736,220
KANSAS FIXED COSTS 2PBP PV-BP 0 0 0 0 0 169,440 -169,440 -103,599
KANSAS FIXED COSTS 3PUD PV-UD 0 0 0 0 0 958,282 -958,282 -283,607
KANSAS STATE SUMMARIES
- ----------------------
PROVED PRODUCING 1,299,265 3,695 1,072,208 2,853 40,655,795 26,501,703 14,154,092 8,509,047
PROVED BEHIND PIPE 34,285 310 23,467 247 1,638,579 500,425 1,138,154 758,620
PROVED UNDEVELOPED 252,708 0 212,792 0 5,771,671 2,900,755 2,870,916 1,149,625
--------- ----- --------- ----- ---------- ---------- ---------- ----------
TOTAL PROVED 1,586,258 4,005 1,308,467 3,100 48,066,045 29,902,883 18,163,162 10,417,292
PROBABLE UNDEVELOPED 68,971 0 52,167 0 1,414,952 780,565 634,387 259,925
TABLE B
PAGE 5 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
TENNESSEE PROPERTIES
- --------------------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE
ANITA COLSON #1 PV-SI 0 0 0 0 0 0 0 0
ANITA COLSON #1 BP PV-BP 15,463 34 13,530 30 474,654 72,482 402,172 357,571
ANITA COLSON #2 PV-PD 0 221 0 193 790,276 240,000 550,276 323,487
BOBBY YEARY #1 PV-PD 0 0 0 0 0 0 0 0
BOBBY YEARY #1BP PV-BP 0 0 0 0 0 0 0 0
BOBBY YEARY #2 PV-SI 8,048 0 3,521 0 91,869 35,600 56,269 46,185
BOBBY YEARY #3 PV-SI 0 0 0 0 0 0 0 0
CHERYL SMITH #1 PV-SI 5,140 0 2,249 0 58,678 5,200 53,478 49,701
CHERYL SMITH #2 PV-UD 0 319 0 279 1,142,570 290,298 852,272 532,049
CHEVRON REED #1 PV-SI 0 0 0 0 0 0 0 0
D. SUTTON HEIRS #1 PV-PD 0 438 0 297 1,215,827 311,400 904,427 424,107
D. SUTTON HEIRS #1 BP PV-BP 0 206 0 140 572,106 67,071 505,035 5,268
D. SUTTON HEIRS #3 PV-UD 0 2,472 0 1,677 6,864,141 578,704 6,285,437 2,374,595
DARNELL SUTTON #1 PV-PD 0 0 0 0 0 0 0 0
DEANNA CROSS #1 PV-SI 0 230 0 101 411,899 32,333 379,566 256,810
DEANNA CROSS #1 BP PV-BP 0 256 0 112 457,864 36,261 421,603 122,558
DEWEY SUTTON #1 PV-SI 0 0 0 0 0 0 0 0
DORIS HELTON #1 PV-PD 0 30 0 26 105,751 60,000 45,751 38,139
DORIS HELTON #1 BP1 PV-BP 0 716 0 626 2,563,334 130,019 2,433,315 745,979
DORIS HELTON #1 BP2 PV-BP 0 112 0 98 401,149 51,294 349,855 27,320
F. WELLS #1 PS-UD 0 127 0 111 454,879 227,441 227,438 136,342
FRED PORTRUM #1 PV-PD 0 7 0 6 25,324 22,800 2,524 2,326
FRED PORTRUM #2 PV-PD 0 1 0 0 1,801 1,200 601 597
GARY PATTON #2 PV-SI 0 0 0 0 0 0 0 0
GARY PATTON #2 BP1 PV-BP 0 795 0 522 2,136,122 173,707 1,962,415 1,053,647
GARY PATTON #2 BP2 PV-BP 20,616 69 13,530 45 538,170 88,308 449,862 45,857
GUY TOBEY #1 PS-UD 0 127 0 111 454,879 227,441 227,438 132,989
HAZEL SUTTON #2 PV-PD 0 47 0 41 167,771 94,800 72,971 55,210
HUGH ROBERTS #1 PV-SI 0 86 0 38 154,166 9,911 144,255 123,855
HUGH ROBERTS #1 BP PV-BP 0 191 0 84 342,055 35,215 306,840 166,968
JEFF JOHNSON #1 PV-PD 0 108 0 47 192,754 84,300 108,454 69,161
JEFF JOHNSON #2 PV-UD 0 80 0 70 285,592 227,908 57,684 23,381
LANGE #1 PB-BP 0 169 0 11 43,161 0 43,161 26,433
LANGE #1 BP PB-BP 0 90 0 6 23,024 0 23,024 6,535
LAURA J. LAWSON #1 PV-PD 0 131 0 115 468,953 187,204 281,749 145,314
LAURA J. LAWSON #2 PV-PD 0 1,148 0 753 3,082,767 360,000 2,722,767 1,115,810
LAURA J. LAWSON #2 BP PV-BP 0 0 0 0 0 0 0 0
LAURA J. LAWSON #3 PV-PD 0 22 0 18 74,567 59,220 15,347 11,775
LAURA J. LAWSON #4 PV-PD 0 33 0 29 117,735 85,800 31,935 22,669
LAURA J. LAWSON #4 BP PV-BP 0 161 0 141 577,046 299,200 277,846 30,721
LAURA J. LAWSON #5 PV-SI 19,580 0 17,132 0 447,031 127,200 319,831 211,114
PAUL REED #1 PV-PD 0 227 0 170 695,858 241,800 454,058 239,917
PAUL REED #2 PV-SI 0 0 0 0 0 0 0 0
PAUL REED #2 BP PV-BP 0 103 0 77 316,204 57,230 258,974 210,874
PAUL REED #3 PV-PD 0 74 0 49 200,127 107,328 92,799 60,885
PAUL REED #3 BP1 PV-BP 0 402 0 264 1,079,890 197,722 882,168 118,691
PAUL REED #3 BP2 PV-BP 0 22 0 14 59,102 31,218 27,884 477
PAUL REED #4 PV-PD 0 545 0 477 1,952,250 248,252 1,703,998 815,813
PAUL REED #4 BP1 PV-BP 0 691 0 604 2,473,805 131,600 2,342,205 49,493
PAUL REED #4 BP2 PV-BP 0 0 0 0 0 0 0 0
PAUL REED #5 PV-PD 38,504 0 33,691 0 879,100 128,000 751,100 566,283
PAUL REED #6 PV-PD 0 60 0 52 214,774 114,600 100,174 72,123
PAUL REED #6 BP PV-BP 11,697 0 10,235 0 267,068 44,123 222,945 38,409
PAUL REED #7 PV-PD 0 360 0 315 1,289,923 321,600 968,323 436,842
PAUL REED #7 BP1 PV-BP 0 148 0 130 530,922 58,400 472,522 4,542
PAUL REED #7 BP2 PV-BP 0 0 0 0 0 0 0 0
PAUL REED #8 PV-BP 34,968 0 30,597 0 798,359 53,867 744,492 642,078
PAUL REED #8 BP PV-BP 0 402 0 352 1,440,111 177,741 1,262,370 365,999
PAUL REED #9 PV-UD 0 716 0 626 2,563,995 441,158 2,122,837 891,240
PURKEY #1 PV-PD 0 5 0 2 8,062 7,500 562 526
PURKEY #2 PV-SI 0 0 0 0 0 0 0 0
PURKEY #3 PV-PD 0 157 0 69 280,633 117,900 162,733 88,574
PURKEY #3 BP1 PV-BP 0 256 0 112 458,843 54,220 404,623 10,245
PURKEY #3 BP2 PV-BP 0 95 0 42 170,122 22,996 147,126 1,403
PURKEY #4 PV-UD 0 281 0 123 503,232 126,803 376,429 246,466
PURKEY #5 PV-UD 0 300 0 131 537,259 130,746 406,513 265,509
RAY DEAN HELTON #1 PV-PD 0 0 0 0 0 0 0 0
RAY DEAN HELTON #1 BP PV-BP 0 116 0 102 415,703 78,606 337,097 241,111
TABLE B
PAGE 6 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT'D)
RAY DEAN HELTON #2 PV-SI 15,479 0 6,772 0 176,703 12,192 164,511 146,192
RAY DEAN HELTON #2 BP1 PV-BP 0 166 0 72 296,752 25,381 271,371 159,445
RAY DEAN HELTON #2 BP2 PV-BP 0 34 0 15 60,886 14,651 46,235 18,085
RAY DEAN HELTON #3 PV-SI 39 0 17 0 444 400 44 44
RAY DEAN HELTON #4 PV-UD 0 500 0 438 1,790,862 335,141 1,455,721 797,588
RAY DEAN HELTON #6 PV-UD 0 500 0 438 1,790,862 335,141 1,455,721 734,070
ROSE #1 PV-SI 0 0 0 0 0 0 0 0
STEPHEN LAWSON #1 PV-PD 5,472 0 2,394 0 62,467 35,353 27,114 21,951
STEPHEN LAWSON #2 PV-SI 0 0 0 0 0 0 0 0
STEPHEN LAWSON #3 PV-PD 0 144 0 94 385,838 169,200 216,638 137,480
STEPHEN LAWSON #3 BP PV-BP 38,665 26 25,374 17 731,862 93,738 638,124 55,279
STEPHEN LAWSON #4 PV-PD 0 7 0 4 17,932 15,000 2,932 2,756
STEPHEN LAWSON #4 BP PV-BP 12,785 9 8,390 6 241,999 61,000 180,999 133,299
STEPHEN LAWSON #5 PV-PD 0 153 0 100 410,697 169,200 241,497 158,916
STEPHEN LAWSON #5 BP PV-BP 0 689 0 452 1,850,735 142,747 1,707,988 105,099
STEPHEN LAWSON #6 PV-UD 0 776 0 509 2,084,564 378,336 1,706,228 798,300
STEPHEN LAWSON #7 PV-UD 0 600 0 394 1,611,776 352,042 1,259,734 605,793
T.J. HARRISON #1 PV-SI 0 0 0 0 0 0 0 0
WARREN REED #1 PV-SI 0 68 0 59 242,927 21,620 221,307 173,731
WARREN REED #1 BP PV-BP 0 383 0 335 1,371,801 83,793 1,288,008 673,415
WARREN REED #2 PV-PD 0 1,055 0 824 3,372,848 307,982 3,064,866 1,395,413
WARREN REED #2 BP1 PV-BP 0 1,139 0 890 3,643,753 91,600 3,552,153 39,247
WARREN REED #2 BP2 PV-BP 0 0 0 0 0 0 0 0
WELLS/YEARY #1 PV-PD 0 131 0 57 235,132 96,600 138,532 80,321
WOODROW DAVIS #1 PV-SI 0 281 0 123 503,951 74,053 429,898 233,895
LOCATION # 4 PV-UD 0 511 0 447 1,830,261 289,047 1,541,214 974,545
LOCATION # 5 PV-UD 0 957 0 837 3,427,708 352,495 3,075,213 1,754,737
LOCATION # 8 PV-UD 0 1,408 0 1,232 5,043,069 405,527 4,637,542 2,316,318
LOCATION #12 PV-UD 0 255 0 223 913,339 252,268 661,071 428,710
LOCATION #13 PV-UD 0 255 0 223 913,339 252,268 661,071 428,710
LOCATION #14 PV-UD 0 127 0 111 454,879 227,441 227,438 155,702
LOCATION #15 PV-UD 0 128 0 112 458,461 227,657 230,804 157,989
LOCATION #16 PV-UD 0 217 0 190 777,234 244,479 532,755 343,848
LOCATION #17 PV-UD 0 383 0 335 1,371,801 276,888 1,094,913 632,540
LOCATION #19 PV-UD 0 255 0 223 913,339 251,192 662,147 420,244
LOCATION #20 PV-UD 0 255 0 223 913,339 251,192 662,147 420,244
LOCATION #24 PV-UD 0 128 0 112 458,461 227,657 230,804 152,831
LOCATION #25 PV-UD 0 128 0 112 458,461 227,657 230,804 149,073
LOCATION #26 PV-UD 0 128 0 112 458,461 227,657 230,804 149,073
LOCATION #27 PV-UD 0 140 0 123 501,442 230,250 271,192 174,604
LOCATION #29 PV-UD 0 128 0 112 458,461 227,657 230,804 149,073
LOCATION #32 PV-UD 0 191 0 167 684,109 238,344 445,765 306,017
LOCATION #33 PV-UD 0 421 0 368 1,507,906 282,996 1,224,910 653,151
LOCATION #34 PV-UD 0 383 0 335 1,371,800 275,505 1,096,295 600,219
LOCATION #35 PV-UD 0 383 0 335 1,371,800 275,505 1,096,295 580,621
LOCATION #36 PV-UD 0 511 0 447 1,830,261 296,492 1,533,769 771,131
LOCATION #38 PV-UD 0 319 0 279 1,142,570 265,386 877,184 474,353
LOCATION #39 PV-UD 0 357 0 312 1,278,676 273,175 1,005,501 528,266
LOCATION #40 PV-UD 0 357 0 312 1,278,676 273,175 1,005,501 515,276
LOCATION #41 PV-UD 0 128 0 112 458,461 227,657 230,804 134,943
LOCATION #42 PV-UD 0 257 0 225 920,503 250,665 669,838 378,548
LOCATION #43 PV-UD 0 128 0 112 458,461 227,657 230,804 134,943
LOCATION #44 PV-UD 0 128 0 112 458,461 227,657 230,804 134,943
LOCATION #45 PV-UD 0 128 0 112 458,461 227,657 230,804 143,014
LOCATION #46 PV-UD 0 140 0 123 501,442 230,250 271,192 151,629
LOCATION #47 PV-UD 0 191 0 167 684,109 240,108 444,001 244,289
LOCATION #48 PV-UD 0 191 0 167 684,109 240,108 444,001 244,289
LOCATION #49 PV-UD 0 128 0 112 458,461 227,657 230,804 129,458
LOCATION #50 PV-UD 0 191 0 167 684,109 239,150 444,959 239,701
LOCATION #51 PV-UD 0 128 0 112 458,461 227,657 230,804 125,231
LOCATION #53 PV-UD 0 128 0 112 458,461 227,657 230,804 125,231
LOCATION #54 PS-UD 0 191 0 167 684,109 238,344 445,765 261,377
LOCATION #55 PS-UD 0 191 0 167 684,109 238,344 445,765 261,377
LOCATION #56 PS-UD 0 191 0 167 684,109 238,344 445,765 250,753
LOCATION #57 PS-UD 0 318 0 278 1,138,989 262,691 876,298 454,784
LOCATION #58 PS-UD 0 191 0 167 684,109 238,344 445,765 250,753
LOCATION #59 PS-UD 0 255 0 223 913,339 251,192 662,147 355,974
LOCATION #60 PS-UD 0 255 0 223 913,339 251,192 662,147 355,974
LOCATION #61 PS-UD 0 191 0 167 684,110 241,269 442,841 232,228
LOCATION #62 PS-UD 0 128 0 112 458,461 227,657 230,804 125,231
LOCATION #63 PS-UD 0 127 0 111 454,879 227,441 227,438 123,418
LOCATION #65 PS-UD 0 127 0 111 454,879 227,441 227,438 123,418
TABLE B
PAGE 7 OF 7
TENGASCO, INC.
SUMMARY OF GROSS AND NET RESERVE AND INCOME DATA
SEC CASE
AS OF DECEMBER 31, 2002
-------ESTIMATED REMAINING RESERVES------- ------------ESTIMATED FUTURE DOLLARS--------------
----100% GROSS----- ---------NET--------- GROSS REV. --NET INCOME BEFORE FIT--
(A) (BARRELS) (MMCF) (BARRELS) (MMCF) AFTER PROD. TOTAL DISCOUNTED
STATUS OIL/COND(B) GAS OIL/COND(B) SALES GAS TAXES DEDUCTIONS UNDISCOUNTED AT 10.0%
------ ----------- ------ ----------- --------- ----------- ---------- ------------ -----------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT'D)
LOCATION #67 PS-UD 0 127 0 111 454,879 227,441 227,438 120,384
LOCATION #68 PV-UD 0 127 0 111 454,879 227,441 227,438 120,384
LOCATION #69 PV-UD 0 127 0 111 454,879 227,441 227,438 120,384
LOCATION #70 PV-UD 0 127 0 111 454,879 227,441 227,438 115,491
LOCATION #71 PV-UD 0 127 0 111 454,879 227,441 227,438 115,491
LOCATION #72 PV-UD 0 127 0 111 454,879 227,441 227,438 115,491
TENNESSEE STATE SUMMARIES
- -------------------------
PROVED PRODUCING 43,976 5,104 36,085 3,740 16,249,167 3,587,039 12,662,128 6,286,395
PROVED SHUT-IN 48,286 665 29,691 321 2,087,668 318,509 1,769,159 1,241,527
PROVED BEHIND PIPE 134,194 7,221 101,656 5,281 24,270,417 2,374,190 21,896,227 5,423,080
PROVED UNDEVELOPED 0 17,370 0 14,157 57,950,600 13,479,272 44,471,328 23,279,726
------- ------ ------ -- ------ ----------- ---------- ---------- ----------
TOTAL PROVED 226,456 30,360 167,432 23,499 100,557,852 19,759,010 80,798,842 36,230,728
PROBABLE BEHIND PIPE 0 259 0 16 66,185 0 66,185 32,968
POSSIBLE UNDEVELOPED 0 2,546 0 2,228 9,119,069 3,324,582 5,794,487 3,185,002
GRAND SUMMARIES
- ---------------
PROVED PRODUCING 1,343,241 8,799 1,108,293 6,593 56,904,962 30,088,742 26,816,220 14,795,442
PROVED SHUT-IN 48,286 665 29,691 321 2,087,668 318,509 1,769,159 1,241,527
PROVED BEHIND PIPE 168,479 7,531 125,123 5,528 25,908,996 2,874,615 23,034,381 6,181,700
PROVED UNDEVELOPED 252,708 17,370 212,792 14,157 63,722,271 16,380,027 47,342,244 24,429,351
--------- ------ --------- ------ ----------- ---------- ---------- ----------
TOTAL PROVED 1,812,714 34,365 1,475,899 26,599 148,623,897 49,661,893 98,962,004 46,648,020
PROBABLE BEHIND PIPE 0 259 0 16 66,185 0 66,185 32,968
PROBABLE UNDEVELOPED 68,971 0 52,167 0 1,414,952 780,565 634,387 259,925
--------- ------ --------- ------ ----------- ---------- ---------- ----------
TOTAL PROBABLE 68,971 259 52,167 16 1,481,137 780,565 700,572 292,893
POSSIBLE UNDEVELOPED 0 2,546 0 2,228 9,119,069 3,324,582 5,794,487 3,185,002
(A) RESERVE TYPES: PV = PROVED STATUS: PD = PRODUCING DP = DEPLETED
PB = PROBABLE BP = BEHIND PIPE NP = NON-PRODUCING
PS = POSSIBLE SI = SHUT IN PB = PAYBACK
UD = UNDEVELOPED
(B) EXCLUDES PLANT PRODUCTS
TABLE C
PAGE 1 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
ARPIN SOUTH FIELD,
ROOKS COUNTY, KANSAS
- --------------------
THYFAULT #1 OIL PV-PD 1 8 9S 20W 1.000000 0.820313 27.29 0.0000 N/A 821.
ASH CREEK FIELD,
BARTON COUNTY, KANSAS
- ---------------------
UNRUH #2 OIL PV-PD 0 30-20S-15W 0.812500 0.710938 0.00 0.0000 N/A 0.
AXELSON FIELD,
ROOKS COUNTY, KANSAS
- --------------------
AXELSON LEASE OIL PV-PD 2 24 7S 19W 1.000000 0.792969 27.29 0.0000 N/A 684.
BEISEL FIELD,
RUSSELL COUNTY, KANSAS
- ----------------------
BEISEL LEASE OIL PV-PD 5 15 14S 12W 1.000000 0.875000 27.29 0.0000 N/A 3495.
BEISEL #9 PUD OIL PV-UD 1 15 14S 12W 1.000000 0.875000 27.29 0.0000 N/A 699.
BIELMAN FIELD,
ELLIS COUNTY, KANSAS
- --------------------
GRASS #5 OIL PV-PD 1 24 15S 18W 1.000000 0.875000 27.29 0.0000 N/A 1177.
CARPENTER FIELD,
EDWARDS COUNTY, KANSAS
- ----------------------
HENNING #1 OIL PV-PD 1 1 24S 17W 0.875000 0.708801 27.29 0.0000 N/A 342.
CARROLL FIELD,
BARTON COUNTY, KANSAS
- ---------------------
KEENAN -B- LEASE OIL PV-PD 2 21 17S 14W 0.992754 0.868660 27.29 0.0000 N/A 1404.
CENTERVIEW FIELD,
STAFFORD COUNTY, KANSAS
- -----------------------
BECKERDITE #1 OIL PV-PD 1 21 24S 13W 0.937500 0.807495 27.29 0.0000 N/A 1236.
CHASE-SILICA FIELD,
BARTON COUNTY, KANSAS
- ---------------------
LANDER #1 OIL PV-PD 1 10-20S-11W 0.915630 0.741803 27.29 0.0000 N/A 1216.
LANDER #3 PBUD OIL PB-UD 1 10-20S-11W 0.915630 0.741803 27.29 0.0000 N/A 1216.
ROSE LEASE OIL PV-PD 3 3 20S 11W 1.000000 0.875000 0.00 0.0000 N/A 5283.
CHEYENNE FIELD,
BARTON COUNTY, KANSAS
- ---------------------
HAMMEKE #1 OIL PV-PD 1 2 19S 12W 1.000000 0.833984 27.29 0.0000 N/A 846.
TABLE C
PAGE 2 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
CONVERSE FIELD,
BARTON COUNTY, KANSAS
- ---------------------
IANNITTI LEASE OIL PV-PD 6 19 20S 15W 1.000000 0.875000 27.29 0.0000 N/A 2370.
IANNITTI #9 PUD OIL PV-UD 1 19 20S 15W 1.000000 0.875000 27.29 0.0000 N/A 395.
COOPER FIELD,
GRAHAM COUNTY, KANSAS
- ---------------------
DEYOUNG LEASE OIL PV-PD 2 4 10S 21W 1.000000 0.875000 27.29 0.0000 N/A 2876.
LEWIS LEASE OIL PV-PD 2 9 10S 21W 1.000000 0.875000 27.29 0.0000 N/A 740.
DAVIDSON FIELD,
RUSSELL COUNTY, KANSAS
- ----------------------
FOSTER LEASE OIL PV-PD 4 33 15S 11W 1.000000 0.847656 27.29 0.0000 N/A 2420.
DISTRICT 57 FIELD,
ELLIS COUNTY, KANSAS
- --------------------
FLAX #1 OIL PV-PD 1 28 12S 20W 1.000000 0.875000 27.29 0.0000 N/A 574.
DUNES NORTH FIELD,
PAWNEE COUNTY, KANSAS
- ---------------------
BARSTOW #1 OIL PV-PD 1 14 22S 15W 0.937500 0.769043 0.00 0.0000 N/A 1725.
LOVETT #1 OIL PV-PD 1 15 22S 15W 0.937000 0.768633 0.00 0.0000 N/A 1897.
ELLIS NW FIELD,
TREGO COUNTY, KANSAS
- --------------------
BAUGHER #1 OIL PV-PD 1 23 12S 21W 1.000000 0.765630 27.29 0.0000 N/A 1058.
FICKEN FIELD,
RUSH COUNTY, KANSAS
- -------------------
SCHWINDT FARMS #1 OIL PV-PD 1 23 17S 18W 1.000000 0.820313 0.00 0.0000 N/A 665.
GATES NORTH FIELD,
STAFFORD COUNTY, KANSAS
- -----------------------
HOFFMAN #1 OIL PV-PD 1 22 21S 13W 0.687500 0.556915 0.00 0.0000 N/A 1672.
SCHULZ LEASE OIL PV-PD 2 22 21S 13W 0.687500 0.554449 27.29 0.0000 N/A 2796.
GIESICK FIELD,
RUSH COUNTY, KANSAS
- -------------------
GIESICK #2 GAS PV-PD 1 19-17S-17W 1.000000 0.875000 0.00 4.1300 1000 109.
GOTTSCHALK FIELD,
ELLIS COUNTY, KANSAS
- --------------------
WERTH #1 GAS PV-PD 0 36-15S-18W 1.000000 0.875000 0.00 0.0000 N/A 0.
HERMAN FIELD,
BARTON COUNTY, KANSAS
- ---------------------
H. KARST LEASE OIL PV-PD 2 18-16S-14W 0.812500 0.702051 27.29 0.0000 N/A 1838.
TABLE C
PAGE 3 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
HOBROCK FIELD,
OSBORNE COUNTY, KANSAS
- ----------------------
HOBROCK #4 OIL PV-PD 1 3 10S 15W 0.593750 0.481947 27.29 0.0000 N/A 363.
HOGAN LEASE OIL PV-PD 3 10 10S 15W 0.593750 0.480972 27.29 0.0000 N/A 1929.
IRVIN FIELD,
ELLIS COUNTY, KANSAS
- --------------------
KINDERKNECHT -B- LEASE OIL PV-PD 2 8 14S 19W 1.000000 0.875000 27.29 0.0000 N/A 2956.
KRAUS FIELD,
ELLIS COUNTY, KANSAS
- --------------------
KRAUS -A- LEASE OIL PV-PD 3 22 14S 19W 1.000000 0.820310 27.29 0.0000 N/A 1545.
KRAUS -B- LEASE OIL PV-PD 2 16 14S 19W 1.000000 0.875000 27.29 0.0000 N/A 824.
KRAUS -I- LEASE OIL PV-PD 2 27 14S 19W 1.000000 0.820313 27.29 0.0000 N/A 1820.
LEIKER EAST FIELD,
ELLIS COUNTY, KANSAS
- --------------------
LEIKER #1 OIL PV-PD 1 14 15S 18W 0.416670 0.364590 27.29 0.0000 N/A 645.
LEONHARDT SOUTHEAST FIELD,
ELLIS COUNTY, KANSAS
- --------------------------
KRAUS LEASE OIL PV-PD 2 28 14S 18W 1.000000 0.792969 27.29 0.0000 N/A 1298.
LIEBENTHAL FIELD,
RUSH COUNTY, KANSAS
- -------------------
DECHANT -B- #2 GAS PV-PD 0 23 16S 18W 1.000000 0.875000 0.00 0.0000 N/A 0.
GRAHAM #1 GAS PV-PD 1 23-16S-18W 1.000000 0.875000 0.00 0.0000 N/A 3416.
LEGLEITER -B- #1 GAS PV-PD 1 26 16S 18W 1.000000 0.875000 0.00 4.1300 1000 157.
LEGLEITER -C- #1 GAS PV-PD 0 24 16S 18W 1.000000 0.875000 0.00 0.0000 N/A 0.
LEGLEITER -C- #2 GAS PV-PD 1 24-16S-18W 1.000000 0.875000 0.00 0.0000 N/A 1193.
LITTLE RIO FIELD,
RICE COUNTY, KANSAS
- -------------------
WHITEMAN-HOLLAND LEASE OIL PV-PD 3 19-19S-6W 1.000000 0.820313 27.29 0.0000 N/A 1653.
MARCOTTE FIELD,
ROOKS COUNTY, KANSAS
- --------------------
CROFFOOT LEASE OIL PV-PD 4 11 10S 20W 1.000000 0.861328 27.29 0.0000 N/A 4888.
CROFFOOT -A- LEASE OIL PV-PD 3 11 10S 20W 1.000000 0.860369 27.29 0.0000 N/A 738.
CROFFOOT -B- LEASE OIL PV-PD 6 11 10S 20W 1.000000 0.820313 27.29 0.0000 N/A 6072.
CROFFOOT -C- LEASE OIL PV-PD 2 11 10S 20W 1.000000 0.806641 27.29 0.0000 N/A 1214.
DICK LEASE OIL PV-PD 3 17 10S 19W 1.000000 0.875000 27.29 0.0000 N/A 2124.
TABLE C
PAGE 4 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
MCHALE FIELD,
ROOKS COUNTY, KANSAS
- --------------------
HARRISON -A- LEASE OIL PV-PD 4 17 9S 18W 1.000000 0.875000 27.29 0.0000 N/A 1996.
HILGERS -B- LEASE OIL PV-PD 3 17 9S 18W 1.000000 0.875000 27.29 0.0000 N/A 1257.
KABA #2 OIL PV-PD 1 16-9S-18W 1.000000 0.847656 0.00 0.0000 N/A 547.
OMLOR FIELD,
STAFFORD COUNTY, KANSAS
- -----------------------
MILLER #1 OIL PV-PD 1 11 22S 14W 0.875000 0.708801 27.29 0.0000 N/A 439.
WILLIAMS #1 OIL PV-PD 1 11 22S 14W 0.875000 0.715210 27.29 0.0000 N/A 496.
OTIS-ALBERT FIELD,
RUSH COUNTY, KANSAS
- ------------------
HARTMAN -C- #1 GAS PV-PD 0 2-18S-16W 1.000000 0.820313 0.00 0.0000 N/A 0.
PARADISE CREEK FIELD,
ROOKS COUNTY, KANSAS
- ---------------------
STAHL LEASE OIL PV-PD 4 21 9S 18W 1.000000 0.843750 27.29 0.0000 N/A 3504.
STAHL #7 PUD OIL PV-UD 1 21 9S 18W 1.000000 0.843750 27.29 0.0000 N/A 876.
PAWNEE ROCK FIELD,
PAWNEE COUNTY, KANSAS
- ---------------------
O'SCHULTZ #1 OIL PV-PD 1 13-20S-16W 0.937500 0.820313 0.00 0.0000 N/A 1594.
OETKIN LEASE OIL PV-PD 2 24 20S 16W 0.937500 0.794678 27.29 0.0000 N/A 2964.
OETKIN #8 PBUD OIL PB-UD 1 24 20S 16W 0.937500 0.794678 27.29 0.0000 N/A 1482.
PLAINVILLE FIELD,
ROOKS COUNTY, KANSAS
- --------------------
ANDERSON -A- #1 OIL PV-PD 1 12 10S 18W 1.000000 0.875000 27.29 0.0000 N/A 283.
BARDOT #1 OIL PV-PD 0 12 10S 18W 1.000000 0.875000 0.00 0.0000 N/A 0.
GARVERT -A- #1 OIL PV-PD 1 18 10S 17W 1.000000 0.875000 27.29 0.0000 N/A 62.
GARVERT -B- #1 OIL PV-PD 1 13 10S 18W 1.000000 0.875000 27.29 0.0000 N/A 131.
HARRISON -C- LEASE OIL PV-PD 2 12 10S 18W 1.000000 0.875000 27.29 0.0000 N/A 622.
JACO LEASE OIL PV-PD 4 13 10S 18W 1.000000 0.875000 27.29 0.0000 N/A 1108.
ROSS LEASE OIL PV-PD 2 12 10S 18W 1.000000 0.875000 27.29 0.0000 N/A 624.
PLEASANT FIELD,
RUSH COUNTY, KANSAS
- -------------------
BASGALL -C- #4 GAS PV-PD 0 10 16S 17W 1.000000 0.875000 0.00 0.0000 N/A 0.
TABLE C
PAGE 5 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
PLEASANT FIELD,
ELLIS COUNTY, KANSAS
- --------------------
HONAS #3 OIL PV-PD 1 22-13S-20W 1.000000 0.820310 27.29 0.0000 N/A 623.
PLEASANT VIEW FIELD,
RUSH COUNTY, KANSAS
- --------------------
URBAN -K- #5 OIL PV-PD 1 10-16S-17W 1.000000 0.875000 27.29 0.0000 N/A 145.
URBAN -K- #5 BP GAS PV-BP 1 10-16S-17W 1.000000 0.875000 0.00 4.1300 1000 145.
PLEASANT VIEW NW FIELD,
RUSH COUNTY, KANSAS
- -----------------------
URBAN #1, 2 & 5 OIL PV-PD 3 10-16S-17W 1.000000 0.875000 27.29 0.0000 N/A 828.
URBAN #6 PUD OIL PV-UD 1 10-16S-17W 1.000000 0.875000 27.29 0.0000 N/A 276.
URBAN #7 PUD OIL PV-UD 1 10-16S-17W 1.000000 0.875000 27.29 0.0000 N/A 276.
REICHEL FIELD,
RUSH COUNTY, KANSAS
- -------------------
ALLEN #1 A&D GAS PV-PD 1 33-16S-16W 1.000000 0.875000 0.00 4.1300 1000 264.
ANDRE #1 OIL PV-PD 1 28-16S-16W 1.000000 0.875000 0.00 0.0000 N/A 1644.
APPL #1 GAS PV-PD 1 10 17S 17W 1.000000 0.875000 0.00 4.1300 1000 106.
APPL #2 GAS PV-PD 1 10 17S 17W 1.000000 0.820313 0.00 4.1300 1000 94.
BEAHM #1 GAS PV-PD 1 36 17S 17W 1.000000 0.820313 0.00 0.0000 N/A 641.
BIEBER #1 GAS PV-PD 1 15-17S-17W 1.000000 0.820313 0.00 4.1300 1000 403.
BIEBER -A- #1 GAS PV-PD 1 15-17S-17W 1.000000 0.820313 0.00 4.1300 1000 149.
BRACK -A- #3 GAS PV-PD 1 34-17S-16W 1.000000 0.875000 0.00 4.1300 1000 122.
BREIT #1 GAS PV-PD 1 7-16S-17W 1.000000 0.875000 0.00 4.1300 1000 84.
BREIT-HOLZMEISTER -B- OIL PV-PD 1 7-16S-17W 1.000000 0.861328 27.29 0.0000 N/A 84.
DECKER -A- #1 GAS PV-PD 1 8 17S 16W 1.000000 0.868164 0.00 4.1300 1000 267.
EDWARDS #1 GAS PV-PD 1 35-16S-17W 1.000000 0.875000 0.00 4.1300 1000 127.
ELDER #19 GAS PV-PD 1 19-17S-16W 1.000000 0.875000 0.00 0.0000 N/A 629.
FOOS #1 GAS PV-PD 1 25-17S-17W 1.000000 0.820313 0.00 4.1300 1000 352.
FOOS -A- #1 GAS PV-PD 1 22 17S 17W 1.000000 0.820313 0.00 4.1300 1000 416.
FRYE #2 GAS PV-PD 1 4 17S 17W 1.000000 0.875000 0.00 4.1300 1000 45.
GIESICK #1 GAS PV-PD 1 19 17S 16W 1.000000 0.875000 0.00 4.1300 1000 955.
GILLIG #1 GAS PV-PD 1 24 17S 17W 1.000000 0.875000 0.00 4.1300 1000 22.
GRUMBEIN -A- #1 GAS PV-PD 1 9 17S 17W 1.000000 0.875000 0.00 4.1300 1000 67.
HANHARDT #1 GAS PV-PD 1 24 17S 17W 1.000000 0.820313 0.00 4.1300 1000 82.
TABLE C
PAGE 6 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
REICHEL FIELD, RUSH COUNTY, KANSAS (CONT.)
- ------------------------------------------
HANHARDT -A- #1 GAS PV-PD 1 24 17S 17W 1.000000 0.820313 0.00 4.1300 1000 226.
HANHARDT -A- #1BP GAS PV-BP 1 24 17S 17W 1.000000 0.820313 0.00 4.1300 1000 0.
HOFFMAN #3 GAS PV-PD 1 29 16S 17W 1.000000 0.820313 0.00 4.1300 1000 53.
HOLZMEISTER #1 GAS PV-PD 1 8 16S 17W 1.000000 0.847656 0.00 0.0000 N/A 2266.
HOLZMEISTER -A- #1 GAS PV-PD 0 27-16S-17W 1.000000 0.847656 0.00 0.0000 N/A 0.
HOLZMEISTER -B- #1 GAS PV-PD 1 7-16S-17W 1.000000 0.861328 0.00 0.0000 N/A 132.
HONDERICK -C- #1 GAS PV-PD 1 10 17S 17W 1.000000 0.875000 0.00 4.1300 1000 70.
HOOFER #1 GAS PV-PD 0 19 16S 17W 1.000000 0.861328 0.00 0.0000 N/A 0.
JANSON -A- #2 GAS PV-PD 0 7 17S 16W 1.000000 0.875000 0.00 0.0000 N/A 0.
KAISER #2 GAS PV-PD 1 2 17S 17W 1.000000 0.875000 0.00 4.1300 1000 112.
KAISER -A- #1 OIL PV-PD 1 28 16S 16W 1.000000 0.875000 27.29 0.0000 N/A 257.
KLEWENO #1-21 GAS PV-PD 1 25-17S-17W 1.000000 0.820313 0.00 4.1300 1000 1.
KLEWENO -A- #1 GAS PV-PD 1 23-17S-17W 1.000000 0.875000 0.00 4.1300 1000 144.
KOBER #1 GAS PV-PD 1 6 18S 16W 1.000000 0.875000 0.00 4.1300 1000 219.
LEBSACK -A- #1 GAS PV-PD 1 21-17S-17W 1.000000 0.783854 0.00 0.0000 N/A 3314.
LIPPERT #2 GAS PV-PD 0 19 16S 17W 1.000000 0.861328 0.00 0.0000 N/A 0.
LIPPERT #3 GAS PV-PD 1 19 16S 17W 1.000000 0.875000 0.00 4.1300 1000 500.
LIPPERT #3 BP GAS PV-BP 1 19-16S-17W 1.000000 0.875000 0.00 4.1300 1000 0.
LIPPERT -B- #1 GAS PV-PD 0 29 16S 17W 1.000000 0.755625 0.00 0.0000 N/A 0.
LIPPERT -B- #2 GAS PV-PD 1 29 16S 17W 1.000000 0.755625 0.00 4.1300 1000 0.
LIPPERT -C- #1 GAS PV-PD 1 32 16S 17W 1.000000 0.765625 0.00 4.1300 1000 19.
MCGILL #2 GAS PV-PD 0 3 17S 17W 1.000000 0.875000 0.00 0.0000 N/A 0.
O'DELL #1 GAS PV-PD 1 34 16S 17W 1.000000 0.861328 0.00 0.0000 N/A 300.
OCHS -A- #1 GAS PV-PD 1 28 16S 16W 1.000000 0.875000 0.00 4.1300 1000 90.
PFEIFER -B- #1 GAS PV-PD 0 8-16S-17W 1.000000 0.875000 0.00 0.0000 N/A 0.
RAU #1 GAS PV-PD 1 10 17S 17W 1.000000 0.820313 0.00 4.1300 1000 207.
REICHEL #1 GAS PV-PD 1 23-17S-17W 1.000000 0.875000 0.00 4.1300 1000 417.
ROTHE #1-31 GAS PV-PD 1 31 17S 16W 1.000000 0.875000 0.00 4.1300 1000 1267.
ROTHE, R. #1 GAS PV-PD 1 20 17S 16W 1.000000 0.820313 0.00 4.1300 1000 182.
SCHEUERMAN #56 GAS PV-PD 1 4 17S 17W 1.000000 0.875000 0.00 4.1300 1000 34.
TABLE C
PAGE 7 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
REICHEL FIELD, RUSH COUNTY, KANSAS (CONT.)
- ------------------------------------------
SCHLITTER #2 GAS PV-PD 1 18 16S 17W 1.000000 0.861328 0.00 4.1300 1000 221.
SCHNEIDER #1 GAS PV-PD 1 13-17S-17W 1.000000 0.820313 0.00 4.1300 1000 167.
SHERWOOD #1 GAS PV-PD 1 25 16S 17W 1.000000 0.792969 0.00 4.1300 1000 105.
STEITZ -A- #1 GAS PV-PD 1 11-17S-17W 1.000000 0.875000 0.00 4.1300 1000 435.
STEITZ -B- #1 GAS PV-PD 1 14-17S-17W 1.000000 0.820313 0.00 4.1300 1000 862.
THIELENHAUS #1 GAS PV-PD 1 14 17S 17W 1.000000 0.875000 0.00 4.1300 1000 57.
THIELENHAUS #1 BP GAS PV-BP 1 14 17S 17W 1.000000 0.875000 0.00 4.1300 1000 0.
TORREY #2 GAS PV-PD 1 19-16S-17W 1.000000 0.861328 0.00 4.1300 1000 193.
URBAN R & A #1 GAS PV-PD 1 20-16S-17W 1.000000 0.875000 0.00 4.1300 1000 66.
REICHEL EAST FIELD,
RUSH COUNTY, KANSAS
- -------------------
BAHR #1 GAS PV-PD 1 35 17S 18W 1.000000 0.875000 0.00 4.1300 1000 78.
REICHEL WEST FIELD,
RUSH COUNTY, KANSAS
- -------------------
LEGLEITER -A- #1-1 GAS PV-PD 1 11-17S-18W 1.000000 0.738281 0.00 4.1300 1000 960.
LEGLEITER -A- #1-2 GAS PV-PD 0 11-17S-18W 1.000000 0.738281 0.00 0.0000 N/A 0.
MUTH #1 & 2 GAS PV-PD 2 1 17S 18W 1.000000 0.722656 0.00 4.1300 1000 833.
RIDGEWAY SOUTH FIELD,
TREGO COUNTY, KANSAS
- ---------------------
SCHOENTHALER #3 OIL PV-PD 1 34 12S 21W 1.000000 0.820313 27.29 0.0000 N/A 939.
RIGA NORTHEAST FIELD,
TREGO COUNTY, KANSAS
- ---------------------
KELLER LEASE OIL PV-PD 2 9 13S 21W 1.000000 0.875000 27.29 0.0000 N/A 396.
KELLER -A- LEASE OIL PV-PD 3 9 13S 21W 1.000000 0.875000 27.29 0.0000 N/A 2208.
RUGGELS WEST FIELD,
OSBORNE COUNTY, KANSAS
- ----------------------
MAIER #1 OIL PV-PD 1 16 10S 15W 0.812500 0.676025 0.00 0.0000 N/A 1638.
MAIER #1 BP OIL PV-BP 1 16 10S 15W 0.812500 0.676025 27.29 0.0000 N/A 1638.
SANDFORD FIELD,
BARTON COUNTY, KANSAS
- ---------------------
BEN TEMPERO #1 OIL PV-PD 1 26-17S-14W 1.000000 0.820312 27.29 0.0000 N/A 1159.
BEN TEMPERO #5 PUD OIL PV-UD 1 26-17S-14W 1.000000 0.820312 27.29 0.0000 N/A 1159.
TABLE C
PAGE 8 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SCHWINDT FIELD,
RUSH COUNTY, KANSAS
- -------------------
JACOBS -B- #3 OIL PV-PD 1 30 17S 18W 1.000000 0.875000 27.29 0.0000 N/A 879.
SPRING CREEK FIELD,
TREGO COUNTY, KANSAS
- -------------------
RIDGWAY #1 OIL PV-PD 1 32 12S 21W 1.000000 0.779300 27.29 0.0000 N/A 1538.
STOCKTON FIELD,
ROOKS COUNTY, KANSAS
- --------------------
HINDMAN #1 OIL PV-PD 1 35 7S 17W 1.000000 0.809370 27.29 0.0000 N/A 608.
STEBBINS #1 OIL PV-PD 1 26 7S 17W 0.925000 0.751570 27.29 0.0000 N/A 579.
WATTS #1 OIL PV-PD 1 26 7S 17W 0.925000 0.809380 27.29 0.0000 N/A 796.
STREMEL FIELD,
RUSH COUNTY, KANSAS
- -------------------
OCHS #1 & 3 OIL PV-PD 2 30 16S 16W 1.000000 0.875000 0.00 0.0000 N/A 1192.
URBAN -D- LEASE OIL PV-PD 2 30-16S-16W 1.000000 0.875000 27.29 0.0000 N/A 478.
THACKER FIELD,
RUSSELL COUNTY, KANSAS
- ----------------------
THACKER #2 OIL PV-PD 1 29-13S-13W 1.000000 0.847656 27.29 0.0000 N/A 996.
TRAPP FIELD,
BARTON COUNTY, KANSAS
- ---------------------
DEUTSCH OIL PV-PD 1 16 16S 13W 1.000000 0.820313 27.29 0.0000 N/A 760.
HOWLIER #1 OIL PV-PD 1 8 16S 13W 0.937000 0.768633 27.29 0.0000 N/A 793.
WEBSTER FIELD,
ROOKS COUNTY, KANSAS
- --------------------
CERROW-CERROW -A- #1 OIL PV-PD 1 33 8S 19W 1.000000 0.875000 27.29 0.0000 N/A 527.
LOWRY #1 OIL PV-PD 1 33 8S 19W 1.000000 0.847656 27.29 0.0000 N/A 776.
WERTH NORTH FIELD,
ELLIS COUNTY, KANSAS
- --------------------
SCHNELLER LEASE OIL PV-PD 3 34 12S 20W 1.000000 0.820313 27.29 0.0000 N/A 1329.
WESTHUSIN FIELD,
ROOKS COUNTY, KANSAS
- --------------------
DOUGHERTY EAST #1 OIL PV-PD 1 18 9S 16W 0.934400 0.766500 27.29 0.0000 N/A 385.
DOUGHERTY EAST #1 BP OIL PV-BP 1 18 9S 16W 0.934400 0.766500 27.29 0.0000 N/A 0.
DOUGHERTY EAST #2 PUD OIL PV-UD 1 18 9S 16W 0.934400 0.766500 27.29 0.0000 N/A 385.
YOHE FIELD,
ROOKS COUNTY, KANSAS
- --------------------
FINNESY LEASE OIL PV-PD 3 33 8S 18W 1.000000 0.875000 27.29 0.0000 N/A 876.
TABLE C
PAGE 9 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
YOHE FIELD, ROOKS COUNTY, KANSAS (CONT.)
- ----------------------------------------
MOSHER LEASE OIL PV-PD 2 33 8S 18W 1.000000 0.875000 27.29 0.0000 N/A 640.
ALL FIELDS,
RUSH COUNTY, KANSAS
- -------------------
OTIS COMPRESSOR STATION GAS PV-PD 0 1.000000 1.000000 0.00 0.0000 N/A 3644.
VARIOUS FIELD,
ALL COUNTY, KANSAS
- ------------------
KANSAS FIXED COSTS 1PDP OIL PV-PD 0 1.000000 1.000000 0.00 0.0000 N/A 29630.
KANSAS FIXED COSTS 2PBP OIL PV-BP 0 1.000000 1.000000 0.00 0.0000 N/A 370.
KANSAS FIXED COSTS 3PUD OIL PV-UD 0 1.000000 1.000000 0.00 0.0000 N/A 2569.
SWAN CREEK FIELD,
HANCOCK COUNTY, TENNESSEE
- -------------------------
ANITA COLSON #1 GAS PV-SI 0 11-1S-74E 1.000000 0.875000 0.00 0.0000 N/A 0.
ANITA COLSON #1 BP OIL PV-BP 1 11-1S-74E 1.000000 0.875000 26.90 4.2200 1000 800.
ANITA COLSON #2 GAS PV-PD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
BOBBY YEARY #1 GAS PV-PD 0 12-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
BOBBY YEARY #1BP GAS PV-BP 0 12-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
BOBBY YEARY #2 OIL PV-SI 1 11-1S-74E 0.500000 0.437500 26.90 0.0000 N/A 800.
BOBBY YEARY #3 OIL PV-SI 0 11-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
CHERYL SMITH #1 OIL PV-SI 1 11-1S-74E 0.500000 0.437500 26.90 0.0000 N/A 800.
CHERYL SMITH #2 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
CHEVRON REED #1 GAS PV-SI 0 11-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
D. SUTTON HEIRS #1 GAS PV-PD 1 11-1S-74E 1.000000 0.678444 0.00 4.2200 1000 600.
D. SUTTON HEIRS #1 BP GAS PV-BP 1 11-1S-74E 1.000000 0.678444 0.00 4.2200 1000 600.
D. SUTTON HEIRS #3 GAS PV-UD 1 11-1S-74E 1.000000 0.678444 0.00 4.2200 1000 600.
DARNELL SUTTON #1 GAS PV-PD 0 6-1S-75E 1.000000 0.875000 0.00 0.0000 N/A 0.
DEANNA CROSS #1 GAS PV-SI 1 6-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
DEANNA CROSS #1 BP GAS PV-BP 1 6-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
DEWEY SUTTON #1 OIL PV-SI 0 6-1S-75E 0.500000 0.437500 0.00 0.0000 N/A 0.
DORIS HELTON #1 GAS PV-PD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
DORIS HELTON #1 BP1 GAS PV-BP 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
DORIS HELTON #1 BP2 GAS PV-BP 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
F. WELLS #1 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
TABLE C
PAGE 10 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
- ---------------------------------------------------
FRED PORTRUM #1 GAS PV-PD 1 7-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
FRED PORTRUM #2 GAS PV-PD 1 7-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
GARY PATTON #2 GAS PV-SI 0 6-1S-75E 1.000000 0.656250 0.00 0.0000 N/A 0.
GARY PATTON #2 BP1 GAS PV-BP 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
GARY PATTON #2 BP2 OIL PV-BP 1 6-1S-75E 1.000000 0.656250 26.90 4.2200 1000 800.
GUY TOBEY #1 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
HAZEL SUTTON #2 GAS PV-PD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
HUGH ROBERTS #1 GAS PV-SI 1 8-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
HUGH ROBERTS #1 BP GAS PV-BP 1 8-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
JEFF JOHNSON #1 GAS PV-PD 1 7-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
JEFF JOHNSON #2 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LANGE #1 GAS PB-BP 1 12-1S-74E 0.000000 0.062500 0.00 4.2200 1000 600.
LANGE #1 BP GAS PB-BP 1 11-1S-74E 0.000000 0.062500 0.00 4.2200 1000 600.
LAURA J. LAWSON #1 GAS PV-PD 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
LAURA J. LAWSON #2 GAS PV-PD 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
LAURA J. LAWSON #2 BP GAS PV-BP 0 6-1S-75E 1.000000 0.656250 0.00 0.0000 N/A 0.
LAURA J. LAWSON #3 GAS PV-PD 1 11-1S-74E 0.940000 0.822500 0.00 4.2200 1000 600.
LAURA J. LAWSON #4 GAS PV-PD 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
LAURA J. LAWSON #4 BP GAS PV-BP 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
LAURA J. LAWSON #5 OIL PV-SI 1 15-1S-75E 1.000000 0.875000 26.90 0.0000 N/A 800.
PAUL REED #1 GAS PV-PD 1 10-1S-74E 1.000000 0.750000 0.00 4.2200 1000 600.
PAUL REED #2 OIL PV-SI 0 10-1S-74E 1.000000 0.750000 0.00 0.0000 N/A 0.
PAUL REED #2 BP GAS PV-BP 1 10-1S-74E 1.000000 0.750000 0.00 4.2200 1000 600.
PAUL REED #3 GAS PV-PD 1 10-1S-74E 1.000000 0.656250 0.00 4.2200 1000 600.
PAUL REED #3 BP1 GAS PV-BP 1 10-1S-74E 1.000000 0.656250 0.00 4.2200 1000 600.
PAUL REED #3 BP2 GAS PV-BP 1 10-1S-74E 1.000000 0.656250 0.00 4.2200 1000 600.
PAUL REED #4 GAS PV-PD 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #4 BP1 GAS PV-BP 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #4 BP2 GAS PV-BP 0 6-1S-75E 1.000000 0.875000 0.00 0.0000 N/A 0.
PAUL REED #5 OIL PV-PD 1 6-1S-75E 1.000000 0.875000 26.90 0.0000 N/A 800.
TABLE C
PAGE 11 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
- ---------------------------------------------------
PAUL REED #6 GAS PV-PD 1 6-1S-75 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #6 BP OIL PV-BP 1 6-1S-75E 1.000000 0.875000 26.90 0.0000 N/A 800.
PAUL REED #7 GAS PV-PD 1 10-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #7 BP1 GAS PV-BP 1 10-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #7 BP2 GAS PV-BP 0 10-1S-74E 1.000000 0.875000 0.00 0.0000 N/A 0.
PAUL REED #8 OIL PV-BP 1 6-1S-75E 1.000000 0.875000 26.90 0.0000 N/A 500.
PAUL REED #8 BP GAS PV-BP 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
PAUL REED #9 GAS PV-UD 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
PURKEY #1 GAS PV-PD 1 11-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
PURKEY #2 OIL PV-SI 0 12-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
PURKEY #3 GAS PV-PD 1 12-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
PURKEY #3 BP1 GAS PV-BP 1 12-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
PURKEY #3 BP2 GAS PV-BP 1 12-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
PURKEY #4 GAS PV-UD 1 11-1S-74E 0.500000 0.437500 0.00 4.2200 1000 0.
PURKEY #5 GAS PV-UD 1 11-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
RAY DEAN HELTON #1 GAS PV-PD 0 10-1S-74E 1.000000 0.875000 0.00 0.0000 N/A 0.
RAY DEAN HELTON #1 BP GAS PV-BP 1 10-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
RAY DEAN HELTON #2 OIL PV-SI 1 6-1S-75E 0.500000 0.437500 26.90 0.0000 N/A 800.
RAY DEAN HELTON #2 BP1 GAS PV-BP 1 6-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
RAY DEAN HELTON #2 BP2 GAS PV-BP 1 6-1S-75E 0.500000 0.437500 0.00 4.2200 1000 600.
RAY DEAN HELTON #3 OIL PV-SI 1 6-1S-75E 0.500000 0.437500 26.90 0.0000 N/A 800.
RAY DEAN HELTON #4 GAS PV-UD 1 6-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
RAY DEAN HELTON #6 GAS PV-UD 1 10-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
ROSE #1 OIL PV-SI 0 11-1S-74E 0.500000 0.437500 0.00 0.0000 N/A 0.
STEPHEN LAWSON #1 OIL PV-PD 1 6-1S-75E 0.500000 0.437500 26.90 0.0000 N/A 800.
STEPHEN LAWSON #2 GAS PV-SI 0 6-1S-75E 1.000000 0.656250 0.00 0.0000 N/A 0.
STEPHEN LAWSON #3 GAS PV-PD 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
STEPHEN LAWSON #3 BP OIL PV-BP 1 6-1S-75E 1.000000 0.656250 26.90 4.2200 1000 800.
STEPHEN LAWSON #4 GAS PV-PD 1 7-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
STEPHEN LAWSON #4 BP OIL PV-BP 1 7-1S-75E 1.000000 0.656250 26.90 4.2200 1000 800.
TABLE C
PAGE 12 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
- ---------------------------------------------------
STEPHEN LAWSON #5 GAS PV-PD 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
STEPHEN LAWSON #5 BP GAS PV-BP 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
STEPHEN LAWSON #6 GAS PV-UD 1 6-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
STEPHEN LAWSON #7 GAS PV-UD 1 7-1S-75E 1.000000 0.656250 0.00 4.2200 1000 600.
T.J. HARRISON #1 OIL PV-SI 0 10-1S-74E 1.000000 0.875000 0.00 0.0000 N/A 0.
WARREN REED #1 GAS PV-SI 1 4-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
WARREN REED #1 BP GAS PV-BP 1 4-1S-75E 1.000000 0.875000 0.00 4.2200 1000 600.
WARREN REED #2 GAS PV-PD 1 11-1S-74E 1.000000 0.781250 0.00 4.2200 1000 600.
WARREN REED #2 BP1 GAS PV-BP 1 11-1S-74E 1.000000 0.781250 0.00 4.2200 1000 600.
WARREN REED #2 BP2 GAS PV-BP 0 11-1S-74E 1.000000 0.781250 0.00 0.0000 N/A 0.
WELLS/YEARY #1 GAS PV-PD 1 12-1S-74E 0.500000 0.437500 0.00 4.2200 1000 600.
WOODROW DAVIS #1 GAS PV-SI 1 14-1S-74E 0.500000 0.438125 0.00 4.2200 1000 600.
LOCATION # 4 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION # 5 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION # 8 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #12 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #13 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #14 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #15 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #16 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #17 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #19 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #20 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #24 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #25 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #26 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #27 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #29 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #32 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #33 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
TABLE C
PAGE 13 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
- ---------------------------------------------------
LOCATION #34 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #35 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #36 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #38 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #39 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #40 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #41 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #42 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #43 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #44 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #45 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #46 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #47 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #48 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #49 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #50 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #51 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #53 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #54 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #55 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #56 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #57 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #58 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #59 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #60 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #61 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #62 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #63 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #65 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #67 GAS PS-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
TABLE C
PAGE 14 OF 14
TENGASCO, INC.
SUMMARY OF INITIAL BASIC DATA
SEC CASE
AS OF DECEMBER 31, 2002
RES. NO. ----INTERESTS----- LIQUIDS --GAS DATA-- GROSS
PRI. TYPE OF LOCATION ----EVALUATED----- PRICE PRICE COST
PROD (A) WELLS SEC TWP RNG W.I. N.R.I. $/BBL $(B) BTU $/MONTH
---- ---- ----- ----------- -------- -------- ------- ------- ---- -------
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE (CONT.)
- ---------------------------------------------------
LOCATION #68 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #69 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #70 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #71 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
LOCATION #72 GAS PV-UD 1 11-1S-74E 1.000000 0.875000 0.00 4.2200 1000 600.
(A) RESERVE TYPES: PV = PROVED STATUS: PD = PRODUCING
PB = PROBABLE BP = BEHIND PIPE
PS = POSSIBLE SI = SHUT IN
UD = UNDEVELOPED
DP = DEPLETED
PB = PAYBACK
NP = NON-PRODUCING
(B) IF BTU IS SHOWN, GAS PRICE IN $/MMBTU. IF BTU IS N/A, PRICE IS IN $/MCF.
TENGASCO, INC. TABLE 1
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
TOTAL PROVED
TOTAL PROPERTIES ALL CATEGORIES
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 63,186,507
FINAL - 10.00% - 46,648,020
REMARKS - 15.00% - 36,681,296
20.00% - 29,900,086
25.00% - 24,979,299
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 223 162,465 0 1,512 128,750 0 1,170.141 27.19 4.20
2004 251 157,019 0 2,931 126,057 0 2,246.804 27.21 4.21
2005 259 144,715 0 2,952 116,911 0 2,343.626 27.22 4.21
2006 264 123,245 0 3,014 100,389 0 2,421.166 27.24 4.21
2007 261 110,108 0 2,719 89,869 0 2,193.479 27.25 4.21
2008 256 98,999 0 2,179 81,112 0 1,736.975 27.26 4.21
2009 237 88,605 0 1,796 72,807 0 1,420.083 27.27 4.21
2010 227 82,933 0 1,474 68,295 0 1,153.059 27.27 4.21
2011 213 76,061 0 1,372 62,703 0 1,075.281 27.28 4.21
2012 197 71,271 0 1,093 58,742 0 849.300 27.28 4.21
2013 194 66,531 0 1,001 54,816 0 760.660 27.28 4.21
2014 187 58,890 0 885 48,768 0 681.751 27.28 4.21
2015 176 53,579 0 769 44,440 0 588.758 27.28 4.21
2016 166 49,446 0 617 41,031 0 468.197 27.28 4.20
2017 156 45,309 0 567 37,630 0 431.461 27.29 4.20
SUB-TOTAL 1,389,176 0 24,881 1,132,320 0 19,540.741 27.25 4.21
REMAINDER 423,538 0 9,484 343,579 0 7,057.992 27.23 4.21
TOTAL 1,812,714 0 34,365 1,475,899 0 26,598.733 27.25 4.21
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 3,500,210 0 4,918,938 0 8,419,148 43,164 136,897 8,239,087
2004 3,430,852 0 9,459,521 0 12,890,373 36,529 271,481 12,582,363
2005 3,182,559 0 9,868,688 0 13,051,247 32,204 284,062 12,734,981
2006 2,734,896 0 10,198,882 0 12,933,778 24,668 295,651 12,613,459
2007 2,449,264 0 9,239,730 0 11,688,994 20,300 267,809 11,400,885
2008 2,211,449 0 7,314,905 0 9,526,354 16,950 210,979 9,298,425
2009 1,985,624 0 5,979,510 0 7,965,134 14,385 171,973 7,778,776
2010 1,862,594 0 4,854,166 0 6,716,760 13,093 139,047 6,564,620
2011 1,710,432 0 4,526,679 0 6,237,111 11,760 129,642 6,095,709
2012 1,602,353 0 3,573,725 0 5,176,078 10,859 101,432 5,063,787
2013 1,495,478 0 3,200,292 0 4,695,770 10,013 90,583 4,595,174
2014 1,330,435 0 2,868,254 0 4,198,689 8,845 81,149 4,108,695
2015 1,212,351 0 2,476,631 0 3,688,982 7,996 69,872 3,611,114
2016 1,119,599 0 1,968,486 0 3,088,085 7,177 54,959 3,025,949
2017 1,026,918 0 1,814,059 0 2,840,977 6,328 50,668 2,783,981
SUB-TOT 30,855,014 0 82,262,466 0 113,117,480 264,271 2,356,204 110,497,005
REMAIN 9,357,005 0 29,705,172 0 39,062,177 88,671 846,614 38,126,892
TOTAL 40,212,019 0 111,967,638 0 152,179,657 352,942 3,202,818 148,623,897
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,755,602 0 1,694,750 0 3,450,352 4,788,735 4,788,735 4,524,086
2004 1,883,813 0 4,395,440 0 6,279,253 6,303,110 11,091,845 5,388,919
2005 1,958,728 0 2,437,000 0 4,395,728 8,339,253 19,431,098 6,506,524
2006 2,011,889 0 1,815,000 0 3,826,889 8,786,570 28,217,668 6,200,746
2007 2,011,678 0 625,000 0 2,636,678 8,764,207 36,981,875 5,599,317
2008 1,933,220 0 20,000 0 1,953,220 7,345,205 44,327,080 4,256,986
2009 1,810,357 0 0 0 1,810,357 5,968,419 50,295,499 3,131,058
2010 1,743,723 0 11,213 0 1,754,936 4,809,684 55,105,183 2,284,180
2011 1,631,544 0 30,000 0 1,661,544 4,434,165 59,539,348 1,903,687
2012 1,568,345 0 0 0 1,568,345 3,495,442 63,034,790 1,359,824
2013 1,540,616 0 10,000 0 1,550,616 3,044,558 66,079,348 1,071,739
2014 1,460,463 0 25,000 0 1,485,463 2,623,232 68,702,580 836,343
2015 1,381,703 0 0 0 1,381,703 2,229,411 70,931,991 643,632
2016 1,292,773 0 0 0 1,292,773 1,733,176 72,665,167 452,635
2017 1,240,655 0 20,000 0 1,260,655 1,523,326 74,188,493 359,879
SUBTOT 25,225,109 0 11,083,403 0 36,308,512 74,188,493 44,519,555
REMAIN 13,088,381 0 265,000 0 13,353,381 24,773,511 98,962,004 2,128,465
TOTAL 38,313,490 0 11,348,403 0 49,661,893 98,962,004 46,648,020
LIFE OF SUMMARY IS 50.00 YEARS.
THESE DATA IN TABLES 1 THRU 331 ARE PART OF A RIDER SCOTT REPORT AND ARE
SUBJECT TO THE CONDITIONS IN THE TEXT OF THE REPORT.
TENGASCO, INC. TABLE 2
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROVED
TOTAL PROPERTIES PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 18,966,582
FINAL - 10.00% - 14,795,442
REMARKS - 15.00% - 12,190,469
20.00% - 10,394,446
25.00% - 9,074,814
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 204 122,495 0 755 100,307 0 564.880 27.26 4.19
2004 200 111,127 0 630 90,944 0 475.336 27.26 4.18
2005 196 101,460 0 562 83,140 0 417.241 27.27 4.18
2006 191 93,897 0 492 76,905 0 372.570 27.27 4.18
2007 185 86,267 0 450 70,597 0 340.574 27.27 4.18
2008 183 79,146 0 421 64,992 0 313.111 27.27 4.18
2009 173 71,445 0 385 58,799 0 287.563 27.28 4.18
2010 169 66,577 0 361 54,863 0 269.087 27.28 4.18
2011 166 60,594 0 332 49,955 0 251.328 27.28 4.18
2012 157 56,734 0 314 46,768 0 235.173 27.28 4.18
2013 157 53,182 0 301 43,805 0 222.155 27.28 4.18
2014 153 46,973 0 278 38,906 0 208.250 27.28 4.18
2015 143 42,398 0 259 35,186 0 194.343 27.29 4.18
2016 140 38,946 0 240 32,339 0 180.644 27.29 4.18
2017 132 35,735 0 218 29,721 0 168.643 27.29 4.18
SUB-TOTAL 1,066,976 0 5,998 877,227 0 4,500.898 27.27 4.18
REMAINDER 276,265 0 2,801 231,066 0 2,091.813 27.29 4.18
TOTAL 1,343,241 0 8,799 1,108,293 0 6,592.711 27.28 4.18
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 2,734,234 0 2,364,735 0 5,098,969 21,703 60,270 5,016,996
2004 2,479,598 0 1,988,271 0 4,467,869 19,133 49,776 4,398,960
2005 2,266,815 0 1,744,434 0 4,011,249 17,023 43,188 3,951,038
2006 2,097,279 0 1,557,296 0 3,654,575 15,339 38,351 3,600,885
2007 1,925,342 0 1,423,300 0 3,348,642 13,781 34,908 3,299,953
2008 1,772,653 0 1,308,463 0 3,081,116 12,440 32,053 3,036,623
2009 1,603,929 0 1,201,801 0 2,805,730 11,081 29,495 2,765,154
2010 1,496,538 0 1,124,555 0 2,621,093 10,103 27,582 2,583,408
2011 1,362,860 0 1,050,258 0 2,413,118 9,040 25,714 2,378,364
2012 1,275,927 0 982,679 0 2,258,606 8,359 24,021 2,226,226
2013 1,195,211 0 928,295 0 2,123,506 7,750 22,700 2,093,056
2014 1,061,512 0 870,295 0 1,931,807 6,837 21,334 1,903,636
2015 960,010 0 812,201 0 1,772,211 6,143 19,934 1,746,134
2016 882,602 0 755,012 0 1,637,614 5,466 18,556 1,613,592
2017 811,078 0 704,967 0 1,516,045 4,951 17,395 1,493,699
SUB-TOT 23,925,588 0 18,816,562 0 42,742,150 169,149 465,277 42,107,724
REMAIN 6,305,704 0 8,747,894 0 15,053,598 38,465 217,895 14,797,238
TOTAL 30,231,292 0 27,564,456 0 57,795,748 207,614 683,172 56,904,962
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,662,491 0 0 0 1,662,491 3,354,505 3,354,505 3,198,668
2004 1,575,599 0 0 0 1,575,599 2,823,361 6,177,866 2,435,855
2005 1,520,092 0 0 0 1,520,092 2,430,946 8,608,812 1,898,243
2006 1,499,099 0 0 0 1,499,099 2,101,786 10,710,598 1,485,533
2007 1,462,575 0 0 0 1,462,575 1,837,378 12,547,976 1,175,510
2008 1,427,137 0 0 0 1,427,137 1,609,486 14,157,462 932,141
2009 1,355,955 0 0 0 1,355,955 1,409,199 15,566,661 738,722
2010 1,341,828 0 0 0 1,341,828 1,241,580 16,808,241 589,162
2011 1,286,884 0 0 0 1,286,884 1,091,480 17,899,721 468,866
2012 1,267,305 0 0 0 1,267,305 958,921 18,858,642 372,866
2013 1,254,240 0 0 0 1,254,240 838,816 19,697,458 295,271
2014 1,177,342 0 0 0 1,177,342 726,294 20,423,752 231,437
2015 1,117,064 0 0 0 1,117,064 629,070 21,052,822 181,462
2016 1,072,087 0 0 0 1,072,087 541,505 21,594,327 141,403
2017 1,032,411 0 0 0 1,032,411 461,288 22,055,615 109,044
SUBTOT 20,052,109 0 0 0 20,052,109 22,055,615 14,254,183
REMAIN 10,036,633 0 0 0 10,036,633 4,760,605 26,816,220 541,259
TOTAL 30,088,742 0 0 0 30,088,742 26,816,220 14,795,442
LIFE OF SUMMARY IS 50.00 YEARS.
TENGASCO, INC. TABLE 3
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROVED
TOTAL PROPERTIES SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 1,461,339
FINAL - 10.00% - 1,241,527
REMARKS - 15.00% - 1,075,952
20.00% - 946,156
25.00% - 841,315
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 5 13,365 0 27 5,848 0 11.845 26.90 4.22
2004 8 12,060 0 156 6,729 0 78.727 26.90 4.22
2005 7 6,190 0 111 3,944 0 58.492 26.90 4.22
2006 7 3,465 0 79 2,566 0 43.680 26.90 4.22
2007 5 2,855 0 43 2,142 0 18.944 26.90 4.22
2008 4 2,387 0 37 1,803 0 16.395 26.90 4.22
2009 4 1,995 0 33 1,518 0 14.587 26.90 4.22
2010 4 1,439 0 31 1,178 0 13.208 26.90 4.22
2011 3 1,065 0 27 932 0 12.115 26.90 4.22
2012 3 906 0 26 792 0 11.112 26.90 4.22
2013 2 769 0 11 673 0 4.720 26.90 4.22
2014 2 654 0 10 573 0 4.436 26.90 4.22
2015 2 556 0 9 486 0 4.192 26.90 4.22
2016 2 473 0 9 414 0 3.977 26.90 4.22
2017 2 107 0 9 93 0 3.778 26.90 4.22
SUB-TOTAL 48,286 0 618 29,691 0 300.208 26.90 4.22
REMAINDER 0 0 47 0 0 20.538 0.00 4.22
TOTAL 48,286 0 665 29,691 0 320.746 26.90 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 157,280 0 49,984 0 207,264 4,719 1,500 201,045
2004 181,031 0 332,228 0 513,259 5,431 9,966 497,862
2005 106,102 0 246,837 0 352,939 3,183 7,406 342,350
2006 69,023 0 184,328 0 253,351 2,071 5,530 245,750
2007 57,620 0 79,946 0 137,566 1,729 2,398 133,439
2008 48,498 0 69,184 0 117,682 1,454 2,075 114,153
2009 40,840 0 61,559 0 102,399 1,225 1,847 99,327
2010 31,676 0 55,738 0 87,414 950 1,672 84,792
2011 25,072 0 51,125 0 76,197 752 1,534 73,911
2012 21,311 0 46,894 0 68,205 640 1,406 66,159
2013 18,114 0 19,917 0 38,031 543 598 36,890
2014 15,397 0 18,721 0 34,118 462 561 33,095
2015 13,088 0 17,689 0 30,777 393 531 29,853
2016 11,124 0 16,783 0 27,907 333 504 27,070
2017 2,510 0 15,945 0 18,455 76 478 17,901
SUB-TOT 798,686 0 1,266,878 0 2,065,564 23,961 38,006 2,003,597
REMAIN 0 0 86,671 0 86,671 0 2,600 84,071
TOTAL 798,686 0 1,353,549 0 2,152,235 23,961 40,606 2,087,668
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,800 0 0 0 11,800 189,245 189,245 176,680
2004 40,000 0 0 0 40,000 457,862 647,107 396,301
2005 37,200 0 0 0 37,200 305,150 952,257 238,573
2006 29,903 0 0 0 29,903 215,847 1,168,104 152,796
2007 21,620 0 0 0 21,620 111,819 1,279,923 71,581
2008 21,600 0 0 0 21,600 92,553 1,372,476 53,622
2009 21,600 0 0 0 21,600 77,727 1,450,203 40,761
2010 18,800 0 0 0 18,800 65,992 1,516,195 31,322
2011 16,800 0 0 0 16,800 57,111 1,573,306 24,533
2012 16,733 0 0 0 16,733 49,426 1,622,732 19,227
2013 13,200 0 0 0 13,200 23,690 1,646,422 8,341
2014 13,200 0 0 0 13,200 19,895 1,666,317 6,341
2015 13,200 0 0 0 13,200 16,653 1,682,970 4,806
2016 13,200 0 0 0 13,200 13,870 1,696,840 3,622
2017 6,000 0 0 0 6,000 11,901 1,708,741 2,812
SUBTOT 294,856 0 0 0 294,856 1,708,741 1,231,318
REMAIN 23,653 0 0 0 23,653 60,418 1,769,159 10,209
TOTAL 318,509 0 0 0 318,509 1,769,159 1,241,527
LIFE OF SUMMARY IS 21.57 YEARS.
TENGASCO, INC. TABLE 4
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROVED
TOTAL PROPERTIES BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 9,841,842
FINAL - 10.00% - 6,181,700
REMARKS - 15.00% - 4,566,917
20.00% - 3,635,868
25.00% - 3,021,945
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 5 26,605 0 144 22,595 0 101.825 26.94 4.22
2004 9 16,080 0 197 13,440 0 148.371 26.96 4.19
2005 10 17,199 0 183 12,930 0 137.430 26.96 4.18
2006 11 10,270 0 210 7,683 0 134.593 26.99 4.19
2007 13 6,279 0 280 4,669 0 200.808 27.04 4.21
2008 13 3,574 0 246 2,551 0 175.270 27.13 4.21
2009 10 2,035 0 221 1,376 0 161.261 27.29 4.21
2010 9 2,504 0 175 1,751 0 125.844 27.29 4.21
2011 9 2,667 0 334 1,889 0 263.120 27.29 4.22
2012 10 2,524 0 236 1,793 0 180.651 27.29 4.22
2013 10 2,072 0 225 1,459 0 154.657 27.29 4.22
2014 7 1,312 0 171 887 0 120.142 27.29 4.22
2015 7 1,202 0 139 813 0 97.997 27.29 4.22
2016 6 1,100 0 118 744 0 84.319 27.29 4.22
2017 6 1,008 0 113 681 0 82.103 27.29 4.22
SUB-TOTAL 96,431 0 2,992 75,261 0 2,168.391 27.02 4.21
REMAINDER 72,048 0 4,539 49,862 0 3,359.804 26.91 4.22
TOTAL 168,479 0 7,531 125,123 0 5,528.195 26.97 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 608,696 0 429,701 0 1,038,397 16,742 12,891 1,008,764
2004 362,391 0 621,781 0 984,172 9,479 16,221 958,472
2005 348,560 0 574,865 0 923,425 9,182 14,394 899,849
2006 207,394 0 564,493 0 771,887 5,055 14,984 751,848
2007 126,230 0 844,582 0 970,812 2,717 23,751 944,344
2008 69,194 0 737,371 0 806,565 1,097 20,855 784,613
2009 37,544 0 678,993 0 716,537 229 19,516 696,792
2010 47,775 0 530,312 0 578,087 291 15,489 562,307
2011 51,579 0 1,109,711 0 1,161,290 314 32,925 1,128,051
2012 48,932 0 761,779 0 810,711 299 22,533 787,879
2013 39,812 0 652,155 0 691,967 243 19,287 672,437
2014 24,203 0 506,786 0 530,989 147 15,083 515,759
2015 22,169 0 413,548 0 435,717 136 12,408 423,173
2016 20,306 0 355,826 0 376,132 123 10,674 365,335
2017 18,598 0 346,471 0 365,069 114 10,395 354,560
SUB-TOT 2,033,383 0 9,128,374 0 11,161,757 46,168 261,406 10,854,183
REMAIN 1,341,563 0 14,178,375 0 15,519,938 39,775 425,350 15,054,813
TOTAL 3,374,946 0 23,306,749 0 26,681,695 85,943 686,756 25,908,996
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 50,411 0 94,750 0 145,161 863,603 863,603 821,648
2004 74,170 0 52,000 0 126,170 832,302 1,695,905 717,423
2005 88,179 0 37,000 0 125,179 774,670 2,470,575 605,128
2006 89,986 0 15,000 0 104,986 646,862 3,117,437 456,979
2007 94,833 0 25,000 0 119,833 824,511 3,941,948 526,614
2008 79,047 0 20,000 0 99,047 685,566 4,627,514 396,781
2009 65,959 0 0 0 65,959 630,833 5,258,347 331,120
2010 62,918 0 11,213 0 74,131 488,176 5,746,523 231,626
2011 67,700 0 30,000 0 97,700 1,030,351 6,776,874 440,062
2012 63,924 0 0 0 63,924 723,955 7,500,829 282,116
2013 59,505 0 10,000 0 69,505 602,932 8,103,761 212,555
2014 54,862 0 25,000 0 79,862 435,897 8,539,658 139,392
2015 54,220 0 0 0 54,220 368,953 8,908,611 106,532
2016 48,370 0 0 0 48,370 316,965 9,225,576 82,752
2017 48,971 0 20,000 0 68,971 285,589 9,511,165 67,436
SUBTOT 1,003,055 0 339,963 0 1,343,018 9,511,165 5,418,164
REMAIN 1,266,597 0 265,000 0 1,531,597 13,523,216 23,034,381 763,536
TOTAL 2,269,652 0 604,963 0 2,874,615 23,034,381 6,181,700
LIFE OF SUMMARY IS 50.00 YEARS.
TENGASCO, INC. TABLE 5
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROVED
TOTAL PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 32,916,744
FINAL - 10.00% - 24,429,351
REMARKS - 15.00% - 18,847,958
20.00% - 14,923,616
25.00% - 12,041,225
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 9 0 0 586 0 0 491.592 0.00 4.22
2004 34 17,752 0 1,948 14,944 0 1,544.370 27.29 4.22
2005 46 19,866 0 2,096 16,897 0 1,730.463 27.29 4.22
2006 55 15,613 0 2,233 13,235 0 1,870.323 27.29 4.22
2007 58 14,707 0 1,946 12,461 0 1,633.153 27.29 4.22
2008 56 13,892 0 1,475 11,766 0 1,232.200 27.29 4.22
2009 50 13,130 0 1,157 11,114 0 956.673 27.29 4.22
2010 45 12,413 0 907 10,503 0 744.920 27.29 4.22
2011 35 11,735 0 679 9,927 0 548.718 27.29 4.22
2012 27 11,107 0 517 9,389 0 422.363 27.29 4.22
2013 25 10,508 0 464 8,879 0 379.129 27.29 4.22
2014 25 9,951 0 426 8,402 0 348.922 27.29 4.22
2015 24 9,423 0 362 7,955 0 292.226 27.29 4.22
2016 18 8,927 0 250 7,534 0 199.257 27.29 4.22
2017 16 8,459 0 227 7,135 0 176.938 27.29 4.22
SUB-TOTAL 177,483 0 15,273 150,141 0 12,571.247 27.29 4.22
REMAINDER 75,225 0 2,097 62,651 0 1,585.837 27.29 4.22
TOTAL 252,708 0 17,370 212,792 0 14,157.084 27.29 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 2,074,518 0 2,074,518 0 62,236 2,012,282
2004 407,832 0 6,517,241 0 6,925,073 2,486 195,518 6,727,069
2005 461,082 0 7,302,552 0 7,763,634 2,816 219,074 7,541,744
2006 361,200 0 7,892,765 0 8,253,965 2,203 236,786 8,014,976
2007 340,072 0 6,891,902 0 7,231,974 2,073 206,752 7,023,149
2008 321,104 0 5,199,887 0 5,520,991 1,959 155,996 5,363,036
2009 303,311 0 4,037,157 0 4,340,468 1,850 121,115 4,217,503
2010 286,605 0 3,143,561 0 3,430,166 1,749 94,304 3,334,113
2011 270,921 0 2,315,585 0 2,586,506 1,654 69,469 2,515,383
2012 256,183 0 1,782,373 0 2,038,556 1,561 53,472 1,983,523
2013 242,341 0 1,599,925 0 1,842,266 1,477 47,998 1,792,791
2014 229,323 0 1,472,452 0 1,701,775 1,399 44,171 1,656,205
2015 217,084 0 1,233,193 0 1,450,277 1,324 36,999 1,411,954
2016 205,567 0 840,865 0 1,046,432 1,255 25,225 1,019,952
2017 194,732 0 746,676 0 941,408 1,187 22,400 917,821
SUB-TOT 4,097,357 0 53,050,652 0 57,148,009 24,993 1,591,515 55,531,501
REMAIN 1,709,738 0 6,692,232 0 8,401,970 10,431 200,769 8,190,770
TOTAL 5,807,095 0 59,742,884 0 65,549,979 35,424 1,792,284 63,722,271
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 30,900 0 1,600,000 0 1,630,900 381,382 381,382 327,090
2004 194,044 0 4,343,440 0 4,537,484 2,189,585 2,570,967 1,839,340
2005 313,257 0 2,400,000 0 2,713,257 4,828,487 7,399,454 3,764,580
2006 392,901 0 1,800,000 0 2,192,901 5,822,075 13,221,529 4,105,438
2007 432,650 0 600,000 0 1,032,650 5,990,499 19,212,028 3,825,612
2008 405,436 0 0 0 405,436 4,957,600 24,169,628 2,874,442
2009 366,843 0 0 0 366,843 3,850,660 28,020,288 2,020,455
2010 320,177 0 0 0 320,177 3,013,936 31,034,224 1,432,070
2011 260,160 0 0 0 260,160 2,255,223 33,289,447 970,226
2012 220,383 0 0 0 220,383 1,763,140 35,052,587 685,615
2013 213,671 0 0 0 213,671 1,579,120 36,631,707 555,572
2014 215,059 0 0 0 215,059 1,441,146 38,072,853 459,173
2015 197,219 0 0 0 197,219 1,214,735 39,287,588 350,832
2016 159,116 0 0 0 159,116 860,836 40,148,424 224,858
2017 153,273 0 0 0 153,273 764,548 40,912,972 180,587
SUBTOT 3,875,089 0 10,743,440 0 14,618,529 40,912,972 23,615,890
REMAIN 1,761,498 0 0 0 1,761,498 6,429,272 47,342,244 813,461
TOTAL 5,636,587 0 10,743,440 0 16,380,027 47,342,244 24,429,351
LIFE OF SUMMARY IS 46.65 YEARS.
TENGASCO, INC. TABLE 6
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
TOTAL PROBABLE
TOTAL PROPERTIES ALL CATEGORIES
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 441,915
FINAL - 10.00% - 292,893
REMARKS - 15.00% - 200,900
20.00% - 140,905
25.00% - 100,066
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 3 5,158 0 27 3,933 0 1.661 27.29 4.22
2005 3 5,700 0 22 4,330 0 1.375 27.29 4.22
2006 3 4,911 0 19 3,724 0 1.200 27.29 4.22
2007 3 4,622 0 17 3,506 0 1.078 27.29 4.22
2008 3 4,349 0 16 3,299 0 0.987 27.29 4.22
2009 3 4,093 0 14 3,105 0 0.916 27.29 4.22
2010 3 3,852 0 14 2,924 0 0.859 27.29 4.22
2011 3 3,625 0 13 2,750 0 0.802 27.29 4.22
2012 3 3,413 0 12 2,591 0 0.750 27.29 4.22
2013 3 3,211 0 11 2,438 0 0.712 27.29 4.22
2014 3 3,023 0 34 2,295 0 2.061 27.29 4.22
2015 3 2,844 0 28 2,161 0 1.782 27.29 4.22
2016 3 2,678 0 19 2,034 0 1.153 27.29 4.22
2017 3 2,520 0 13 1,914 0 0.810 27.29 4.22
SUB-TOTAL 53,999 0 259 41,004 0 16.146 27.29 4.22
REMAINDER 14,972 0 0 11,163 0 0.022 27.29 4.22
TOTAL 68,971 0 259 52,167 0 16.168 27.29 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 107,330 0 7,011 0 114,341 654 210 113,477
2005 118,162 0 5,802 0 123,964 721 174 123,069
2006 101,640 0 5,063 0 106,703 620 152 105,931
2007 95,662 0 4,549 0 100,211 584 137 99,490
2008 90,039 0 4,166 0 94,205 550 125 93,530
2009 84,748 0 3,867 0 88,615 516 116 87,983
2010 79,770 0 3,623 0 83,393 487 108 82,798
2011 75,087 0 3,385 0 78,472 458 102 77,912
2012 70,680 0 3,165 0 73,845 431 95 73,319
2013 66,533 0 3,007 0 69,540 406 90 69,044
2014 62,633 0 8,697 0 71,330 382 261 70,687
2015 58,961 0 7,520 0 66,481 359 226 65,896
2016 55,507 0 4,867 0 60,374 340 146 59,888
2017 52,256 0 3,419 0 55,675 318 102 55,255
SUB-TOT 1,119,008 0 68,141 0 1,187,149 6,826 2,044 1,178,279
REMAIN 304,628 0 91 0 304,719 1,858 3 302,858
TOTAL 1,423,636 0 68,232 0 1,491,868 8,684 2,047 1,481,137
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 15,016 0 185,313 0 200,329 -86,852 -86,852 -75,873
2005 30,034 0 0 0 30,034 93,035 6,183 72,891
2006 30,033 0 0 0 30,033 75,898 82,081 53,623
2007 30,034 0 0 0 30,034 69,456 151,537 44,420
2008 30,033 0 0 0 30,033 63,497 215,034 36,760
2009 30,034 0 0 0 30,034 57,949 272,983 30,370
2010 30,033 0 0 0 30,033 52,765 325,748 25,032
2011 30,034 0 0 0 30,034 47,878 373,626 20,562
2012 30,032 0 0 0 30,032 43,287 416,913 16,828
2013 30,034 0 0 0 30,034 39,010 455,923 13,728
2014 30,033 0 0 0 30,033 40,654 496,577 12,923
2015 30,034 0 0 0 30,034 35,862 532,439 10,349
2016 30,033 0 0 0 30,033 29,855 562,294 7,797
2017 30,034 0 0 0 30,034 25,221 587,515 5,963
SUBTOT 405,451 0 185,313 0 590,764 587,515 275,373
REMAIN 189,801 0 0 0 189,801 113,057 700,572 17,520
TOTAL 595,252 0 185,313 0 780,565 700,572 292,893
LIFE OF SUMMARY IS 27.54 YEARS.
TENGASCO, INC. TABLE 7
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROBABLE
TOTAL PROPERTIES BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 45,647
FINAL - 10.00% - 32,968
REMARKS - 15.00% - 24,838
20.00% - 19,413
25.00% - 15,646
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 27 0 0 1.661 0.00 4.22
2005 1 0 0 22 0 0 1.375 0.00 4.22
2006 1 0 0 19 0 0 1.200 0.00 4.22
2007 1 0 0 17 0 0 1.078 0.00 4.22
2008 1 0 0 16 0 0 0.987 0.00 4.22
2009 1 0 0 14 0 0 0.916 0.00 4.22
2010 1 0 0 14 0 0 0.859 0.00 4.22
2011 1 0 0 13 0 0 0.802 0.00 4.22
2012 1 0 0 12 0 0 0.750 0.00 4.22
2013 1 0 0 11 0 0 0.712 0.00 4.22
2014 1 0 0 34 0 0 2.061 0.00 4.22
2015 1 0 0 28 0 0 1.782 0.00 4.22
2016 1 0 0 19 0 0 1.153 0.00 4.22
2017 1 0 0 13 0 0 0.810 0.00 4.22
SUB-TOTAL 0 0 259 0 0 16.146 0.00 4.22
REMAINDER 0 0 0 0 0 0.022 0.00 4.22
TOTAL 0 0 259 0 0 16.168 0.00 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 7,011 0 7,011 0 210 6,801
2005 0 0 5,802 0 5,802 0 174 5,628
2006 0 0 5,063 0 5,063 0 152 4,911
2007 0 0 4,549 0 4,549 0 137 4,412
2008 0 0 4,166 0 4,166 0 125 4,041
2009 0 0 3,867 0 3,867 0 116 3,751
2010 0 0 3,623 0 3,623 0 108 3,515
2011 0 0 3,385 0 3,385 0 102 3,283
2012 0 0 3,165 0 3,165 0 95 3,070
2013 0 0 3,007 0 3,007 0 90 2,917
2014 0 0 8,697 0 8,697 0 261 8,436
2015 0 0 7,520 0 7,520 0 226 7,294
2016 0 0 4,867 0 4,867 0 146 4,721
2017 0 0 3,419 0 3,419 0 102 3,317
SUB-TOT 0 0 68,141 0 68,141 0 2,044 66,097
REMAIN 0 0 91 0 91 0 3 88
TOTAL 0 0 68,232 0 68,232 0 2,047 66,185
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 6,801 6,801 5,871
2005 0 0 0 0 0 5,628 12,429 4,395
2006 0 0 0 0 0 4,911 17,340 3,470
2007 0 0 0 0 0 4,412 21,752 2,822
2008 0 0 0 0 0 4,041 25,793 2,339
2009 0 0 0 0 0 3,751 29,544 1,966
2010 0 0 0 0 0 3,515 33,059 1,667
2011 0 0 0 0 0 3,283 36,342 1,410
2012 0 0 0 0 0 3,070 39,412 1,193
2013 0 0 0 0 0 2,917 42,329 1,026
2014 0 0 0 0 0 8,436 50,765 2,659
2015 0 0 0 0 0 7,294 58,059 2,110
2016 0 0 0 0 0 4,721 62,780 1,235
2017 0 0 0 0 0 3,317 66,097 785
SUBTOT 0 0 0 0 0 66,097 32,948
REMAIN 0 0 0 0 0 88 66,185 20
TOTAL 0 0 0 0 0 66,185 32,968
LIFE OF SUMMARY IS 15.03 YEARS.
TENGASCO, INC. TABLE 8
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
PROBABLE
TOTAL PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 396,268
FINAL - 10.00% - 259,925
REMARKS - 15.00% - 176,062
20.00% - 121,492
25.00% - 84,420
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 2 5,158 0 0 3,933 0 0.000 27.29 0.00
2005 2 5,700 0 0 4,330 0 0.000 27.29 0.00
2006 2 4,911 0 0 3,724 0 0.000 27.29 0.00
2007 2 4,622 0 0 3,506 0 0.000 27.29 0.00
2008 2 4,349 0 0 3,299 0 0.000 27.29 0.00
2009 2 4,093 0 0 3,105 0 0.000 27.29 0.00
2010 2 3,852 0 0 2,924 0 0.000 27.29 0.00
2011 2 3,625 0 0 2,750 0 0.000 27.29 0.00
2012 2 3,413 0 0 2,591 0 0.000 27.29 0.00
2013 2 3,211 0 0 2,438 0 0.000 27.29 0.00
2014 2 3,023 0 0 2,295 0 0.000 27.29 0.00
2015 2 2,844 0 0 2,161 0 0.000 27.29 0.00
2016 2 2,678 0 0 2,034 0 0.000 27.29 0.00
2017 2 2,520 0 0 1,914 0 0.000 27.29 0.00
SUB-TOTAL 53,999 0 0 41,004 0 0.000 27.29 0.00
REMAINDER 14,972 0 0 11,163 0 0.000 27.29 0.00
TOTAL 68,971 0 0 52,167 0 0.000 27.29 0.00
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 107,330 0 0 0 107,330 654 0 106,676
2005 118,162 0 0 0 118,162 721 0 117,441
2006 101,640 0 0 0 101,640 620 0 101,020
2007 95,662 0 0 0 95,662 584 0 95,078
2008 90,039 0 0 0 90,039 550 0 89,489
2009 84,748 0 0 0 84,748 516 0 84,232
2010 79,770 0 0 0 79,770 487 0 79,283
2011 75,087 0 0 0 75,087 458 0 74,629
2012 70,680 0 0 0 70,680 431 0 70,249
2013 66,533 0 0 0 66,533 406 0 66,127
2014 62,633 0 0 0 62,633 382 0 62,251
2015 58,961 0 0 0 58,961 359 0 58,602
2016 55,507 0 0 0 55,507 340 0 55,167
2017 52,256 0 0 0 52,256 318 0 51,938
SUB-TOT 1,119,008 0 0 0 1,119,008 6,826 0 1,112,182
REMAIN 304,628 0 0 0 304,628 1,858 0 302,770
TOTAL 1,423,636 0 0 0 1,423,636 8,684 0 1,414,952
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 15,016 0 185,313 0 200,329 -93,653 -93,653 -81,744
2005 30,034 0 0 0 30,034 87,407 -6,246 68,496
2006 30,033 0 0 0 30,033 70,987 64,741 50,153
2007 30,034 0 0 0 30,034 65,044 129,785 41,598
2008 30,033 0 0 0 30,033 59,456 189,241 34,421
2009 30,034 0 0 0 30,034 54,198 243,439 28,404
2010 30,033 0 0 0 30,033 49,250 292,689 23,365
2011 30,034 0 0 0 30,034 44,595 337,284 19,152
2012 30,032 0 0 0 30,032 40,217 377,501 15,635
2013 30,034 0 0 0 30,034 36,093 413,594 12,702
2014 30,033 0 0 0 30,033 32,218 445,812 10,264
2015 30,034 0 0 0 30,034 28,568 474,380 8,239
2016 30,033 0 0 0 30,033 25,134 499,514 6,562
2017 30,034 0 0 0 30,034 21,904 521,418 5,178
SUBTOT 405,451 0 185,313 0 590,764 521,418 242,425
REMAIN 189,801 0 0 0 189,801 112,969 634,387 17,500
TOTAL 595,252 0 185,313 0 780,565 634,387 259,925
LIFE OF SUMMARY IS 27.54 YEARS.
TENGASCO, INC. TABLE 9
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GRAND SUMMARY
TOTAL POSSIBLE
TOTAL PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 4,284,225
FINAL - 10.00% - 3,185,002
REMARKS - 15.00% - 2,378,901
20.00% - 1,783,727
25.00% - 1,341,618
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 4 0 0 106 0 0 93.393 0.00 4.22
2006 14 0 0 715 0 0 623.939 0.00 4.22
2007 14 0 0 576 0 0 503.808 0.00 4.22
2008 14 0 0 409 0 0 360.038 0.00 4.22
2009 14 0 0 310 0 0 272.546 0.00 4.22
2010 12 0 0 211 0 0 181.732 0.00 4.22
2011 8 0 0 109 0 0 94.770 0.00 4.22
2012 4 0 0 64 0 0 56.899 0.00 4.22
2013 3 0 0 30 0 0 26.400 0.00 4.22
2014 1 0 0 16 0 0 14.226 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 2,546 0 0 2,227.751 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 2,546 0 0 2,227.751 0.00 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 394,118 0 394,118 0 11,824 382,294
2006 0 0 2,633,019 0 2,633,019 0 78,990 2,554,029
2007 0 0 2,126,073 0 2,126,073 0 63,783 2,062,290
2008 0 0 1,519,360 0 1,519,360 0 45,582 1,473,778
2009 0 0 1,150,142 0 1,150,142 0 34,503 1,115,639
2010 0 0 766,907 0 766,907 0 23,004 743,903
2011 0 0 399,927 0 399,927 0 11,998 387,929
2012 0 0 240,113 0 240,113 0 7,203 232,910
2013 0 0 111,408 0 111,408 0 3,343 108,065
2014 0 0 60,033 0 60,033 0 1,801 58,232
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 9,401,100 0 9,401,100 0 282,031 9,119,069
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 9,401,100 0 9,401,100 0 282,031 9,119,069
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 9,000 0 800,000 0 809,000 -426,706 -426,706 -327,786
2006 75,000 0 2,000,000 0 2,075,000 479,029 52,323 315,056
2007 100,800 0 0 0 100,800 1,961,490 2,013,813 1,258,271
2008 100,800 0 0 0 100,800 1,372,978 3,386,791 796,076
2009 92,682 0 0 0 92,682 1,022,957 4,409,748 537,271
2010 68,580 0 0 0 68,580 675,323 5,085,071 321,748
2011 36,976 0 0 0 36,976 350,953 5,436,024 151,535
2012 23,269 0 0 0 23,269 209,641 5,645,665 81,700
2013 11,184 0 0 0 11,184 96,881 5,742,546 34,489
2014 6,291 0 0 0 6,291 51,941 5,794,487 16,642
2015 0 0 0 0 0 0 5,794,487 0
2016 0 0 0 0 0 0 5,794,487 0
2017 0 0 0 0 0 0 5,794,487 0
SUBTOT 524,582 0 2,800,000 0 3,324,582 5,794,487 3,185,002
REMAIN 0 0 0 0 0 0 5,794,487 0
TOTAL 524,582 0 2,800,000 0 3,324,582 5,794,487 3,185,002
LIFE OF SUMMARY IS 11.87 YEARS.
TENGASCO, INC. TABLE 10
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROVED
KANSAS PROPERTIES ALL CATEGORIES
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 13,319,508
FINAL - 10.00% - 10,417,292
REMARKS - 15.00% - 8,502,010
20.00% - 7,150,018
25.00% - 6,148,596
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 180 116,451 0 278 94,818 0 211.770 27.29 4.13
2004 187 124,433 0 311 101,792 0 244.340 27.29 4.13
2005 184 118,121 0 310 97,023 0 237.946 27.29 4.13
2006 181 107,263 0 262 87,967 0 204.855 27.29 4.13
2007 176 99,465 0 236 81,534 0 186.107 27.29 4.13
2008 174 92,095 0 220 75,732 0 168.136 27.29 4.13
2009 163 84,060 0 191 69,268 0 147.068 27.29 4.13
2010 158 79,695 0 171 65,613 0 130.511 27.29 4.13
2011 156 73,698 0 154 60,635 0 122.224 27.29 4.13
2012 149 69,337 0 150 57,050 0 114.675 27.29 4.13
2013 149 64,947 0 142 53,431 0 107.732 27.29 4.13
2014 144 57,591 0 126 47,630 0 97.064 27.29 4.13
2015 134 52,512 0 112 43,507 0 88.093 27.29 4.13
2016 131 48,828 0 105 40,490 0 81.144 27.29 4.13
2017 125 45,202 0 92 37,537 0 74.500 27.29 4.13
SUB-TOTAL 1,233,698 0 2,860 1,014,027 0 2,216.165 27.29 4.13
REMAINDER 352,560 0 1,145 294,440 0 883.994 27.29 4.13
TOTAL 1,586,258 0 4,005 1,308,467 0 3,100.159 27.29 4.13
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 2,587,495 0 874,612 0 3,462,107 15,781 15,566 3,430,760
2004 2,778,063 0 1,009,121 0 3,787,184 16,946 17,967 3,752,271
2005 2,647,602 0 982,719 0 3,630,321 16,156 17,489 3,596,676
2006 2,400,721 0 846,050 0 3,246,771 14,642 15,061 3,217,068
2007 2,225,049 0 768,624 0 2,993,673 13,573 13,680 2,966,420
2008 2,066,747 0 694,402 0 2,761,149 12,609 12,362 2,736,178
2009 1,890,416 0 607,386 0 2,497,802 11,529 10,814 2,475,459
2010 1,790,461 0 539,017 0 2,329,478 10,929 9,593 2,308,956
2011 1,654,803 0 504,782 0 2,159,585 10,092 8,984 2,140,509
2012 1,556,839 0 473,609 0 2,030,448 9,492 8,430 2,012,526
2013 1,458,195 0 444,932 0 1,903,127 8,895 7,919 1,886,313
2014 1,299,854 0 400,876 0 1,700,730 7,928 7,133 1,685,669
2015 1,187,237 0 363,823 0 1,551,060 7,242 6,480 1,537,338
2016 1,105,050 0 335,119 0 1,440,169 6,741 5,962 1,427,466
2017 1,024,408 0 307,688 0 1,332,096 6,252 5,478 1,320,366
SUB-TOT 27,672,940 0 9,152,760 0 36,825,700 168,807 162,918 36,493,975
REMAIN 8,035,174 0 3,650,897 0 11,686,071 49,016 64,985 11,572,070
TOTAL 35,708,114 0 12,803,657 0 48,511,771 217,823 227,903 48,066,045
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,523,734 0 9,750 0 1,533,484 1,897,276 1,897,276 1,807,510
2004 1,508,917 0 725,440 0 2,234,357 1,517,914 3,415,190 1,305,692
2005 1,498,860 0 12,000 0 1,510,860 2,085,816 5,501,006 1,630,026
2006 1,476,318 0 0 0 1,476,318 1,740,750 7,241,756 1,230,321
2007 1,438,259 0 0 0 1,438,259 1,528,161 8,769,917 977,677
2008 1,402,820 0 0 0 1,402,820 1,333,358 10,103,275 772,313
2009 1,330,017 0 0 0 1,330,017 1,145,442 11,248,717 600,620
2010 1,315,897 0 11,213 0 1,327,110 981,846 12,230,563 465,774
2011 1,269,198 0 0 0 1,269,198 871,311 13,101,874 374,326
2012 1,257,095 0 0 0 1,257,095 755,431 13,857,305 293,778
2013 1,242,850 0 0 0 1,242,850 643,463 14,500,768 226,627
2014 1,167,077 0 0 0 1,167,077 518,592 15,019,360 165,375
2015 1,111,564 0 0 0 1,111,564 425,774 15,445,134 122,860
2016 1,074,930 0 0 0 1,074,930 352,536 15,797,670 92,102
2017 1,040,255 0 0 0 1,040,255 280,111 16,077,781 66,259
SUBTOT 19,657,791 0 758,403 0 20,416,194 16,077,781 10,131,260
REMAIN 9,486,689 0 0 0 9,486,689 2,085,381 18,163,162 286,032
TOTAL 29,144,480 0 758,403 0 29,902,883 18,163,162 10,417,292
LIFE OF SUMMARY IS 38.00 YEARS.
TENGASCO, INC. TABLE 11
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
KANSAS PROPERTIES PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 10,625,149
FINAL - 10.00% - 8,509,047
REMARKS - 15.00% - 7,091,395
20.00% - 6,073,443
25.00% - 5,307,424
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 179 113,005 0 278 92,488 0 211.770 27.29 4.13
2004 176 103,524 0 250 84,714 0 196.057 27.29 4.13
2005 172 95,363 0 240 78,171 0 181.373 27.29 4.13
2006 169 89,002 0 212 72,942 0 166.090 27.29 4.13
2007 164 82,332 0 197 67,433 0 154.675 27.29 4.13
2008 162 75,981 0 188 62,464 0 142.960 27.29 4.13
2009 152 68,895 0 170 56,778 0 130.115 27.29 4.13
2010 148 64,778 0 161 53,359 0 122.183 27.29 4.13
2011 146 59,296 0 145 48,819 0 114.957 27.29 4.13
2012 139 55,706 0 142 45,868 0 108.336 27.29 4.13
2013 139 52,367 0 135 43,093 0 102.201 27.29 4.13
2014 135 46,328 0 123 38,341 0 94.682 27.29 4.13
2015 126 41,887 0 112 34,739 0 88.093 27.29 4.13
2016 123 38,801 0 105 32,212 0 81.144 27.29 4.13
2017 117 35,735 0 92 29,721 0 74.500 27.29 4.13
SUB-TOTAL 1,023,000 0 2,550 841,142 0 1,969.136 27.29 4.13
REMAINDER 276,265 0 1,145 231,066 0 883.994 27.29 4.13
TOTAL 1,299,265 0 3,695 1,072,208 0 2,853.130 27.29 4.13
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 2,523,912 0 874,612 0 3,398,524 15,393 15,566 3,367,565
2004 2,311,993 0 809,712 0 3,121,705 14,105 14,418 3,093,182
2005 2,133,177 0 749,073 0 2,882,250 13,014 13,330 2,855,906
2006 1,990,662 0 685,952 0 2,676,614 12,141 12,210 2,652,263
2007 1,840,225 0 638,807 0 2,479,032 11,227 11,371 2,456,434
2008 1,704,653 0 590,427 0 2,295,080 10,400 10,511 2,274,169
2009 1,549,561 0 537,373 0 2,086,934 9,450 9,567 2,067,917
2010 1,456,081 0 504,619 0 1,960,700 8,889 8,981 1,942,830
2011 1,332,303 0 474,772 0 1,807,075 8,124 8,450 1,790,501
2012 1,251,724 0 447,427 0 1,699,151 7,632 7,964 1,683,555
2013 1,176,042 0 422,090 0 1,598,132 7,175 7,512 1,583,445
2014 1,046,328 0 391,036 0 1,437,364 6,382 6,958 1,424,024
2015 947,984 0 363,823 0 1,311,807 5,782 6,480 1,299,545
2016 879,177 0 335,119 0 1,214,296 5,363 5,962 1,202,971
2017 811,078 0 307,688 0 1,118,766 4,951 5,478 1,108,337
SUB-TOT 22,954,900 0 8,132,530 0 31,087,430 140,028 144,758 30,802,644
REMAIN 6,305,704 0 3,650,897 0 9,956,601 38,465 64,985 9,853,151
TOTAL 29,260,604 0 11,783,427 0 41,044,031 178,493 209,743 40,655,795
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,503,323 0 0 0 1,503,323 1,864,242 1,864,242 1,776,453
2004 1,417,703 0 0 0 1,417,703 1,675,479 3,539,721 1,445,111
2005 1,372,024 0 0 0 1,372,024 1,483,882 5,023,603 1,158,548
2006 1,357,931 0 0 0 1,357,931 1,294,332 6,317,935 914,779
2007 1,322,607 0 0 0 1,322,607 1,133,827 7,451,762 725,406
2008 1,287,169 0 0 0 1,287,169 987,000 8,438,762 571,688
2009 1,215,987 0 0 0 1,215,987 851,930 9,290,692 446,639
2010 1,204,907 0 0 0 1,204,907 737,923 10,028,615 350,224
2011 1,158,208 0 0 0 1,158,208 632,293 10,660,908 271,687
2012 1,146,105 0 0 0 1,146,105 537,450 11,198,358 209,043
2013 1,133,040 0 0 0 1,133,040 450,405 11,648,763 158,614
2014 1,056,742 0 0 0 1,056,742 367,282 12,016,045 117,097
2015 1,003,064 0 0 0 1,003,064 296,481 12,312,526 85,578
2016 970,487 0 0 0 970,487 232,484 12,545,010 60,765
2017 935,811 0 0 0 935,811 172,526 12,717,536 40,835
SUBTOT 18,085,108 0 0 0 18,085,108 12,717,536 8,332,467
REMAIN 8,416,595 0 0 0 8,416,595 1,436,556 14,154,092 176,580
TOTAL 26,501,703 0 0 0 26,501,703 14,154,092 8,509,047
LIFE OF SUMMARY IS 38.00 YEARS.
TENGASCO, INC. TABLE 12
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
KANSAS PROPERTIES BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 921,114
FINAL - 10.00% - 758,620
REMARKS - 15.00% - 634,276
20.00% - 537,228
25.00% - 460,128
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 3,446 0 0 2,330 0 0.000 27.29 0.00
2004 4 3,157 0 61 2,134 0 48.283 27.29 4.13
2005 5 2,892 0 70 1,955 0 56.573 27.29 4.13
2006 5 2,648 0 50 1,790 0 38.765 27.29 4.13
2007 5 2,426 0 39 1,640 0 31.433 27.29 4.13
2008 5 2,222 0 32 1,502 0 25.176 27.29 4.13
2009 4 2,035 0 21 1,376 0 16.952 27.29 4.13
2010 3 2,504 0 10 1,751 0 8.329 27.29 4.13
2011 3 2,667 0 9 1,889 0 7.266 27.29 4.13
2012 3 2,524 0 8 1,793 0 6.340 27.29 4.13
2013 3 2,072 0 7 1,459 0 5.531 27.29 4.13
2014 2 1,312 0 3 887 0 2.382 27.29 4.13
2015 1 1,202 0 0 813 0 0.000 27.29 0.00
2016 1 1,100 0 0 744 0 0.000 27.29 0.00
2017 1 1,008 0 0 681 0 0.000 27.29 0.00
SUB-TOTAL 33,215 0 310 22,744 0 247.030 27.29 4.13
REMAINDER 1,070 0 0 723 0 0.000 27.29 0.00
TOTAL 34,285 0 310 23,467 0 247.030 27.29 4.13
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 63,583 0 0 0 63,583 388 0 63,195
2004 58,238 0 199,409 0 257,647 355 3,549 253,743
2005 53,343 0 233,646 0 286,989 326 4,159 282,504
2006 48,859 0 160,098 0 208,957 298 2,851 205,808
2007 44,752 0 129,817 0 174,569 273 2,309 171,987
2008 40,990 0 103,975 0 144,965 250 1,851 142,864
2009 37,544 0 70,013 0 107,557 229 1,247 106,081
2010 47,775 0 34,398 0 82,173 291 612 81,270
2011 51,579 0 30,010 0 81,589 314 534 80,741
2012 48,932 0 26,182 0 75,114 299 466 74,349
2013 39,812 0 22,842 0 62,654 243 407 62,004
2014 24,203 0 9,840 0 34,043 147 175 33,721
2015 22,169 0 0 0 22,169 136 0 22,033
2016 20,306 0 0 0 20,306 123 0 20,183
2017 18,598 0 0 0 18,598 114 0 18,484
SUB-TOT 620,683 0 1,020,230 0 1,640,913 3,786 18,160 1,618,967
REMAIN 19,732 0 0 0 19,732 120 0 19,612
TOTAL 640,415 0 1,020,230 0 1,660,645 3,906 18,160 1,638,579
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 20,411 0 9,750 0 30,161 33,034 33,034 31,057
2004 36,970 0 32,000 0 68,970 184,773 217,807 158,288
2005 42,179 0 12,000 0 54,179 228,325 446,132 178,505
2006 37,486 0 0 0 37,486 168,322 614,454 119,059
2007 34,751 0 0 0 34,751 137,236 751,690 87,862
2008 34,750 0 0 0 34,750 108,114 859,804 62,713
2009 29,959 0 0 0 29,959 76,122 935,926 40,067
2010 26,918 0 11,213 0 38,131 43,139 979,065 20,309
2011 26,919 0 0 0 26,919 53,822 1,032,887 23,119
2012 26,918 0 0 0 26,918 47,431 1,080,318 18,442
2013 25,739 0 0 0 25,739 36,265 1,116,583 12,845
2014 21,862 0 0 0 21,862 11,859 1,128,442 3,860
2015 20,027 0 0 0 20,027 2,006 1,130,448 583
2016 15,970 0 0 0 15,970 4,213 1,134,661 1,103
2017 15,971 0 0 0 15,971 2,513 1,137,174 596
SUBTOT 416,830 0 64,963 0 481,793 1,137,174 758,408
REMAIN 18,632 0 0 0 18,632 980 1,138,154 212
TOTAL 435,462 0 64,963 0 500,425 1,138,154 758,620
LIFE OF SUMMARY IS 16.17 YEARS.
TENGASCO, INC. TABLE 13
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
KANSAS PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 1,773,245
FINAL - 10.00% - 1,149,625
REMARKS - 15.00% - 776,339
20.00% - 539,347
25.00% - 381,044
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 7 17,752 0 0 14,944 0 0.000 27.29 0.00
2005 7 19,866 0 0 16,897 0 0.000 27.29 0.00
2006 7 15,613 0 0 13,235 0 0.000 27.29 0.00
2007 7 14,707 0 0 12,461 0 0.000 27.29 0.00
2008 7 13,892 0 0 11,766 0 0.000 27.29 0.00
2009 7 13,130 0 0 11,114 0 0.000 27.29 0.00
2010 7 12,413 0 0 10,503 0 0.000 27.29 0.00
2011 7 11,735 0 0 9,927 0 0.000 27.29 0.00
2012 7 11,107 0 0 9,389 0 0.000 27.29 0.00
2013 7 10,508 0 0 8,879 0 0.000 27.29 0.00
2014 7 9,951 0 0 8,402 0 0.000 27.29 0.00
2015 7 9,423 0 0 7,955 0 0.000 27.29 0.00
2016 7 8,927 0 0 7,534 0 0.000 27.29 0.00
2017 7 8,459 0 0 7,135 0 0.000 27.29 0.00
SUB-TOTAL 177,483 0 0 150,141 0 0.000 27.29 0.00
REMAINDER 75,225 0 0 62,651 0 0.000 27.29 0.00
TOTAL 252,708 0 0 212,792 0 0.000 27.29 0.00
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 407,832 0 0 0 407,832 2,486 0 405,346
2005 461,082 0 0 0 461,082 2,816 0 458,266
2006 361,200 0 0 0 361,200 2,203 0 358,997
2007 340,072 0 0 0 340,072 2,073 0 337,999
2008 321,104 0 0 0 321,104 1,959 0 319,145
2009 303,311 0 0 0 303,311 1,850 0 301,461
2010 286,605 0 0 0 286,605 1,749 0 284,856
2011 270,921 0 0 0 270,921 1,654 0 269,267
2012 256,183 0 0 0 256,183 1,561 0 254,622
2013 242,341 0 0 0 242,341 1,477 0 240,864
2014 229,323 0 0 0 229,323 1,399 0 227,924
2015 217,084 0 0 0 217,084 1,324 0 215,760
2016 205,567 0 0 0 205,567 1,255 0 204,312
2017 194,732 0 0 0 194,732 1,187 0 193,545
SUB-TOT 4,097,357 0 0 0 4,097,357 24,993 0 4,072,364
REMAIN 1,709,738 0 0 0 1,709,738 10,431 0 1,699,307
TOTAL 5,807,095 0 0 0 5,807,095 35,424 0 5,771,671
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 54,244 0 693,440 0 747,684 -342,338 -342,338 -297,707
2005 84,657 0 0 0 84,657 373,609 31,271 292,973
2006 80,901 0 0 0 80,901 278,096 309,367 196,483
2007 80,901 0 0 0 80,901 257,098 566,465 164,409
2008 80,901 0 0 0 80,901 238,244 804,709 137,912
2009 84,071 0 0 0 84,071 217,390 1,022,099 113,914
2010 84,072 0 0 0 84,072 200,784 1,222,883 95,241
2011 84,071 0 0 0 84,071 185,196 1,408,079 79,520
2012 84,072 0 0 0 84,072 170,550 1,578,629 66,293
2013 84,071 0 0 0 84,071 156,793 1,735,422 55,168
2014 88,473 0 0 0 88,473 139,451 1,874,873 44,418
2015 88,473 0 0 0 88,473 127,287 2,002,160 36,699
2016 88,473 0 0 0 88,473 115,839 2,117,999 30,234
2017 88,473 0 0 0 88,473 105,072 2,223,071 24,828
SUBTOT 1,155,853 0 693,440 0 1,849,293 2,223,071 1,040,385
REMAIN 1,051,462 0 0 0 1,051,462 647,845 2,870,916 109,240
TOTAL 2,207,315 0 693,440 0 2,900,755 2,870,916 1,149,625
LIFE OF SUMMARY IS 33.80 YEARS.
TENGASCO, INC. TABLE 14
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROBABLE
KANSAS PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 396,268
FINAL - 10.00% - 259,925
REMARKS - 15.00% - 176,062
20.00% - 121,492
25.00% - 84,420
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 2 5,158 0 0 3,933 0 0.000 27.29 0.00
2005 2 5,700 0 0 4,330 0 0.000 27.29 0.00
2006 2 4,911 0 0 3,724 0 0.000 27.29 0.00
2007 2 4,622 0 0 3,506 0 0.000 27.29 0.00
2008 2 4,349 0 0 3,299 0 0.000 27.29 0.00
2009 2 4,093 0 0 3,105 0 0.000 27.29 0.00
2010 2 3,852 0 0 2,924 0 0.000 27.29 0.00
2011 2 3,625 0 0 2,750 0 0.000 27.29 0.00
2012 2 3,413 0 0 2,591 0 0.000 27.29 0.00
2013 2 3,211 0 0 2,438 0 0.000 27.29 0.00
2014 2 3,023 0 0 2,295 0 0.000 27.29 0.00
2015 2 2,844 0 0 2,161 0 0.000 27.29 0.00
2016 2 2,678 0 0 2,034 0 0.000 27.29 0.00
2017 2 2,520 0 0 1,914 0 0.000 27.29 0.00
SUB-TOTAL 53,999 0 0 41,004 0 0.000 27.29 0.00
REMAINDER 14,972 0 0 11,163 0 0.000 27.29 0.00
TOTAL 68,971 0 0 52,167 0 0.000 27.29 0.00
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 107,330 0 0 0 107,330 654 0 106,676
2005 118,162 0 0 0 118,162 721 0 117,441
2006 101,640 0 0 0 101,640 620 0 101,020
2007 95,662 0 0 0 95,662 584 0 95,078
2008 90,039 0 0 0 90,039 550 0 89,489
2009 84,748 0 0 0 84,748 516 0 84,232
2010 79,770 0 0 0 79,770 487 0 79,283
2011 75,087 0 0 0 75,087 458 0 74,629
2012 70,680 0 0 0 70,680 431 0 70,249
2013 66,533 0 0 0 66,533 406 0 66,127
2014 62,633 0 0 0 62,633 382 0 62,251
2015 58,961 0 0 0 58,961 359 0 58,602
2016 55,507 0 0 0 55,507 340 0 55,167
2017 52,256 0 0 0 52,256 318 0 51,938
SUB-TOT 1,119,008 0 0 0 1,119,008 6,826 0 1,112,182
REMAIN 304,628 0 0 0 304,628 1,858 0 302,770
TOTAL 1,423,636 0 0 0 1,423,636 8,684 0 1,414,952
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 15,016 0 185,313 0 200,329 -93,653 -93,653 -81,744
2005 30,034 0 0 0 30,034 87,407 -6,246 68,496
2006 30,033 0 0 0 30,033 70,987 64,741 50,153
2007 30,034 0 0 0 30,034 65,044 129,785 41,598
2008 30,033 0 0 0 30,033 59,456 189,241 34,421
2009 30,034 0 0 0 30,034 54,198 243,439 28,404
2010 30,033 0 0 0 30,033 49,250 292,689 23,365
2011 30,034 0 0 0 30,034 44,595 337,284 19,152
2012 30,032 0 0 0 30,032 40,217 377,501 15,635
2013 30,034 0 0 0 30,034 36,093 413,594 12,702
2014 30,033 0 0 0 30,033 32,218 445,812 10,264
2015 30,034 0 0 0 30,034 28,568 474,380 8,239
2016 30,033 0 0 0 30,033 25,134 499,514 6,562
2017 30,034 0 0 0 30,034 21,904 521,418 5,178
SUBTOT 405,451 0 185,313 0 590,764 521,418 242,425
REMAIN 189,801 0 0 0 189,801 112,969 634,387 17,500
TOTAL 595,252 0 185,313 0 780,565 634,387 259,925
LIFE OF SUMMARY IS 27.54 YEARS.
TENGASCO, INC. TABLE 15
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ARPIN SOUTH FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T9S-R20W PROVED
THYFAULT #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 63,097
FINAL - 1.000000 0.820313 27.29 10.00% - 56,172
REMARKS - 15.00% - 50,437
20.00% - 45,642
25.00% - 41,597
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,266 0 0 1,038 0 0.000 27.29 0.00
2004 1 1,111 0 0 912 0 0.000 27.29 0.00
2005 1 978 0 0 803 0 0.000 27.29 0.00
2006 1 861 0 0 706 0 0.000 27.29 0.00
2007 1 758 0 0 621 0 0.000 27.29 0.00
2008 1 667 0 0 547 0 0.000 27.29 0.00
2009 1 586 0 0 481 0 0.000 27.29 0.00
2010 1 517 0 0 424 0 0.000 27.29 0.00
2011 1 309 0 0 254 0 0.000 27.29 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 7,053 0 0 5,786 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 7,053 0 0 5,786 0 0.000 27.29 0.00
CUMULATIVE 26,608 0 0
ULTIMATE 33,661 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 28,330 0 0 0 28,330 173 0 28,157
2004 24,887 0 0 0 24,887 152 0 24,735
2005 21,900 0 0 0 21,900 133 0 21,767
2006 19,273 0 0 0 19,273 118 0 19,155
2007 16,959 0 0 0 16,959 103 0 16,856
2008 14,925 0 0 0 14,925 91 0 14,834
2009 13,133 0 0 0 13,133 80 0 13,053
2010 11,558 0 0 0 11,558 71 0 11,487
2011 6,924 0 0 0 6,924 42 0 6,882
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 157,889 0 0 0 157,889 963 0 156,926
REMAIN 0 0 0 0 0 0 0 0
TOTAL 157,889 0 0 0 157,889 963 0 156,926
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,852 0 0 0 9,852 18,305 18,305 17,453
2004 9,852 0 0 0 9,852 14,883 33,188 12,845
2005 9,852 0 0 0 9,852 11,915 45,103 9,311
2006 9,852 0 0 0 9,852 9,303 54,406 6,582
2007 9,852 0 0 0 9,852 7,004 61,410 4,488
2008 9,852 0 0 0 9,852 4,982 66,392 2,891
2009 9,852 0 0 0 9,852 3,201 69,593 1,683
2010 9,852 0 0 0 9,852 1,635 71,228 781
2011 6,568 0 0 0 6,568 314 71,542 138
2012 0 0 0 0 0 0 71,542 0
2013 0 0 0 0 0 0 71,542 0
2014 0 0 0 0 0 0 71,542 0
2015 0 0 0 0 0 0 71,542 0
2016 0 0 0 0 0 0 71,542 0
2017 0 0 0 0 0 0 71,542 0
SUBTOT 85,384 0 0 0 85,384 71,542 56,172
REMAIN 0 0 0 0 0 0 71,542 0
TOTAL 85,384 0 0 0 85,384 71,542 56,172
LIFE OF EVALUATION IS 8.67 YEARS.
FINAL PRODUCTION RATE: 37 BBLS/MO
TENGASCO, INC. TABLE 16
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ASH CREEK FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T20S-R15W PROVED
UNRUH #2 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.812500 5.00% - 0
FINAL - 0.812500 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 29,026 0 0
ULTIMATE 29,026 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 17
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
AXELSON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T7S-R19W PROVED
AXELSON LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.792969 27.29 5.00% - 349,091
FINAL - 1.000000 0.792969 27.29 10.00% - 237,273
REMARKS - 15.00% - 178,088
20.00% - 142,244
25.00% - 118,382
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,947 0 0 1,544 0 0.000 27.29 0.00
2004 2 1,883 0 0 1,493 0 0.000 27.29 0.00
2005 2 1,821 0 0 1,444 0 0.000 27.29 0.00
2006 2 1,760 0 0 1,396 0 0.000 27.29 0.00
2007 2 1,703 0 0 1,350 0 0.000 27.29 0.00
2008 2 1,646 0 0 1,306 0 0.000 27.29 0.00
2009 2 1,592 0 0 1,262 0 0.000 27.29 0.00
2010 2 1,540 0 0 1,221 0 0.000 27.29 0.00
2011 2 1,489 0 0 1,180 0 0.000 27.29 0.00
2012 2 1,439 0 0 1,142 0 0.000 27.29 0.00
2013 2 1,392 0 0 1,104 0 0.000 27.29 0.00
2014 2 1,347 0 0 1,067 0 0.000 27.29 0.00
2015 2 1,301 0 0 1,033 0 0.000 27.29 0.00
2016 2 1,259 0 0 998 0 0.000 27.29 0.00
2017 2 1,217 0 0 965 0 0.000 27.29 0.00
SUB-TOTAL 23,336 0 0 18,505 0 0.000 27.29 0.00
REMAINDER 19,183 0 0 15,212 0 0.000 27.29 0.00
TOTAL 42,519 0 0 33,717 0 0.000 27.29 0.00
CUMULATIVE 61,741 0 0
ULTIMATE 104,260 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 42,137 0 0 0 42,137 257 0 41,880
2004 40,746 0 0 0 40,746 249 0 40,497
2005 39,401 0 0 0 39,401 240 0 39,161
2006 38,101 0 0 0 38,101 232 0 37,869
2007 36,844 0 0 0 36,844 225 0 36,619
2008 35,628 0 0 0 35,628 217 0 35,411
2009 34,452 0 0 0 34,452 211 0 34,241
2010 33,315 0 0 0 33,315 203 0 33,112
2011 32,216 0 0 0 32,216 196 0 32,020
2012 31,153 0 0 0 31,153 190 0 30,963
2013 30,125 0 0 0 30,125 184 0 29,941
2014 29,130 0 0 0 29,130 178 0 28,952
2015 28,170 0 0 0 28,170 172 0 27,998
2016 27,239 0 0 0 27,239 166 0 27,073
2017 26,341 0 0 0 26,341 160 0 26,181
SUB-TOT 504,998 0 0 0 504,998 3,080 0 501,918
REMAIN 415,127 0 0 0 415,127 2,533 0 412,594
TOTAL 920,125 0 0 0 920,125 5,613 0 914,512
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 8,208 0 0 0 8,208 33,672 33,672 32,061
2004 8,208 0 0 0 8,208 32,289 65,961 27,829
2005 8,208 0 0 0 8,208 30,953 96,914 24,150
2006 8,208 0 0 0 8,208 29,661 126,575 20,948
2007 8,208 0 0 0 8,208 28,411 154,986 18,163
2008 8,208 0 0 0 8,208 27,203 182,189 15,743
2009 8,208 0 0 0 8,208 26,033 208,222 13,638
2010 8,208 0 0 0 8,208 24,904 233,126 11,809
2011 8,208 0 0 0 8,208 23,812 256,938 10,222
2012 8,208 0 0 0 8,208 22,755 279,693 8,842
2013 8,208 0 0 0 8,208 21,733 301,426 7,644
2014 8,208 0 0 0 8,208 20,744 322,170 6,605
2015 8,208 0 0 0 8,208 19,790 341,960 5,704
2016 8,208 0 0 0 8,208 18,865 360,825 4,922
2017 8,208 0 0 0 8,208 17,973 378,798 4,245
SUBTOT 123,120 0 0 0 123,120 378,798 212,525
REMAIN 188,784 0 0 0 188,784 223,810 602,608 24,748
TOTAL 311,904 0 0 0 311,904 602,608 237,273
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 46 BBLS/MO
TENGASCO, INC. TABLE 18
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BEISEL FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T14S-R12W PROVED
BEISEL LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 33,873
FINAL - 1.000000 0.875000 27.29 10.00% - 31,021
REMARKS - 15.00% - 28,537
20.00% - 26,366
25.00% - 24,459
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 5 2,274 0 0 1,990 0 0.000 27.29 0.00
2004 5 2,169 0 0 1,898 0 0.000 27.29 0.00
2005 5 2,070 0 0 1,811 0 0.000 27.29 0.00
2006 5 1,975 0 0 1,728 0 0.000 27.29 0.00
2007 5 1,883 0 0 1,648 0 0.000 27.29 0.00
2008 5 1,503 0 0 1,315 0 0.000 27.29 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 11,874 0 0 10,390 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 11,874 0 0 10,390 0 0.000 27.29 0.00
CUMULATIVE 169,272 0 0
ULTIMATE 181,146 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 54,301 0 0 0 54,301 331 0 53,970
2004 51,803 0 0 0 51,803 316 0 51,487
2005 49,421 0 0 0 49,421 302 0 49,119
2006 47,147 0 0 0 47,147 287 0 46,860
2007 44,978 0 0 0 44,978 275 0 44,703
2008 35,897 0 0 0 35,897 219 0 35,678
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 283,547 0 0 0 283,547 1,730 0 281,817
REMAIN 0 0 0 0 0 0 0 0
TOTAL 283,547 0 0 0 283,547 1,730 0 281,817
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 41,940 0 0 0 41,940 12,030 12,030 11,470
2004 41,940 0 0 0 41,940 9,547 21,577 8,243
2005 41,940 0 0 0 41,940 7,179 28,756 5,614
2006 41,940 0 0 0 41,940 4,920 33,676 3,486
2007 41,940 0 0 0 41,940 2,763 36,439 1,777
2008 34,950 0 0 0 34,950 728 37,167 431
2009 0 0 0 0 0 0 37,167 0
2010 0 0 0 0 0 0 37,167 0
2011 0 0 0 0 0 0 37,167 0
2012 0 0 0 0 0 0 37,167 0
2013 0 0 0 0 0 0 37,167 0
2014 0 0 0 0 0 0 37,167 0
2015 0 0 0 0 0 0 37,167 0
2016 0 0 0 0 0 0 37,167 0
2017 0 0 0 0 0 0 37,167 0
SUBTOT 244,650 0 0 0 244,650 37,167 31,021
REMAIN 0 0 0 0 0 0 37,167 0
TOTAL 244,650 0 0 0 244,650 37,167 31,021
LIFE OF EVALUATION IS 5.83 YEARS.
FINAL PRODUCTION RATE: 148 BBLS/MO
TENGASCO, INC. TABLE 19
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BEISEL FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T14S-R12W PROVED
BEISEL #9 PUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 385,776
FINAL - 1.000000 0.875000 27.29 10.00% - 254,763
REMARKS - 15.00% - 175,129
20.00% - 123,713
25.00% - 88,911
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 1,765 0 0 1,544 0 0.000 27.29 0.00
2005 1 3,327 0 0 2,912 0 0.000 27.29 0.00
2006 1 3,075 0 0 2,690 0 0.000 27.29 0.00
2007 1 2,842 0 0 2,487 0 0.000 27.29 0.00
2008 1 2,625 0 0 2,297 0 0.000 27.29 0.00
2009 1 2,427 0 0 2,123 0 0.000 27.29 0.00
2010 1 2,242 0 0 1,962 0 0.000 27.29 0.00
2011 1 2,071 0 0 1,813 0 0.000 27.29 0.00
2012 1 1,915 0 0 1,675 0 0.000 27.29 0.00
2013 1 1,769 0 0 1,548 0 0.000 27.29 0.00
2014 1 1,635 0 0 1,430 0 0.000 27.29 0.00
2015 1 1,511 0 0 1,322 0 0.000 27.29 0.00
2016 1 1,396 0 0 1,222 0 0.000 27.29 0.00
2017 1 1,289 0 0 1,128 0 0.000 27.29 0.00
SUB-TOTAL 29,889 0 0 26,153 0 0.000 27.29 0.00
REMAINDER 8,835 0 0 7,731 0 0.000 27.29 0.00
TOTAL 38,724 0 0 33,884 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 38,724 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 42,144 0 0 0 42,144 257 0 41,887
2005 79,457 0 0 0 79,457 485 0 78,972
2006 73,424 0 0 0 73,424 448 0 72,976
2007 67,849 0 0 0 67,849 414 0 67,435
2008 62,697 0 0 0 62,697 382 0 62,315
2009 57,936 0 0 0 57,936 353 0 57,583
2010 53,537 0 0 0 53,537 327 0 53,210
2011 49,472 0 0 0 49,472 302 0 49,170
2012 45,716 0 0 0 45,716 279 0 45,437
2013 42,245 0 0 0 42,245 257 0 41,988
2014 39,037 0 0 0 39,037 238 0 38,799
2015 36,073 0 0 0 36,073 220 0 35,853
2016 33,333 0 0 0 33,333 204 0 33,129
2017 30,803 0 0 0 30,803 188 0 30,615
SUB-TOT 713,723 0 0 0 713,723 4,354 0 709,369
REMAIN 210,958 0 0 0 210,958 1,287 0 209,671
TOTAL 924,681 0 0 0 924,681 5,641 0 919,040
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 4,194 0 100,000 0 104,194 -62,307 -62,307 -54,094
2005 8,388 0 0 0 8,388 70,584 8,277 55,090
2006 8,388 0 0 0 8,388 64,588 72,865 45,633
2007 8,388 0 0 0 8,388 59,047 131,912 37,764
2008 8,388 0 0 0 8,388 53,927 185,839 31,220
2009 8,388 0 0 0 8,388 49,195 235,034 25,782
2010 8,388 0 0 0 8,388 44,822 279,856 21,263
2011 8,388 0 0 0 8,388 40,782 320,638 17,513
2012 8,388 0 0 0 8,388 37,049 357,687 14,403
2013 8,388 0 0 0 8,388 33,600 391,287 11,823
2014 8,388 0 0 0 8,388 30,411 421,698 9,687
2015 8,388 0 0 0 8,388 27,465 449,163 7,920
2016 8,388 0 0 0 8,388 24,741 473,904 6,458
2017 8,388 0 0 0 8,388 22,227 496,131 5,252
SUBTOT 113,238 0 100,000 0 213,238 496,131 235,714
REMAIN 87,871 0 0 0 87,871 121,800 617,931 19,049
TOTAL 201,109 0 100,000 0 301,109 617,931 254,763
LIFE OF EVALUATION IS 25.48 YEARS.
FINAL PRODUCTION RATE: 45 BBLS/MO
TENGASCO, INC. TABLE 20
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
BIELMAN FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T15S-R18W PROVED
GRASS #5 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 108,257
FINAL - 1.000000 0.875000 27.29 10.00% - 93,097
REMARKS - 15.00% - 81,219
20.00% - 71,759
25.00% - 64,108
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,640 0 0 1,435 0 0.000 27.29 0.00
2004 1 1,498 0 0 1,311 0 0.000 27.29 0.00
2005 1 1,367 0 0 1,196 0 0.000 27.29 0.00
2006 1 1,248 0 0 1,092 0 0.000 27.29 0.00
2007 1 1,140 0 0 997 0 0.000 27.29 0.00
2008 1 1,040 0 0 911 0 0.000 27.29 0.00
2009 1 951 0 0 831 0 0.000 27.29 0.00
2010 1 867 0 0 759 0 0.000 27.29 0.00
2011 1 792 0 0 693 0 0.000 27.29 0.00
2012 1 723 0 0 633 0 0.000 27.29 0.00
2013 1 660 0 0 577 0 0.000 27.29 0.00
2014 1 408 0 0 357 0 0.000 27.29 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 12,334 0 0 10,792 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 12,334 0 0 10,792 0 0.000 27.29 0.00
CUMULATIVE 121,911 0 0
ULTIMATE 134,245 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 39,166 0 0 0 39,166 239 0 38,927
2004 35,759 0 0 0 35,759 218 0 35,541
2005 32,648 0 0 0 32,648 199 0 32,449
2006 29,808 0 0 0 29,808 182 0 29,626
2007 27,214 0 0 0 27,214 166 0 27,048
2008 24,847 0 0 0 24,847 152 0 24,695
2009 22,685 0 0 0 22,685 138 0 22,547
2010 20,711 0 0 0 20,711 126 0 20,585
2011 18,910 0 0 0 18,910 116 0 18,794
2012 17,264 0 0 0 17,264 105 0 17,159
2013 15,763 0 0 0 15,763 96 0 15,667
2014 9,738 0 0 0 9,738 60 0 9,678
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 294,513 0 0 0 294,513 1,797 0 292,716
REMAIN 0 0 0 0 0 0 0 0
TOTAL 294,513 0 0 0 294,513 1,797 0 292,716
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 14,124 0 0 0 14,124 24,803 24,803 23,636
2004 14,124 0 0 0 14,124 21,417 46,220 18,476
2005 14,124 0 0 0 14,124 18,325 64,545 14,311
2006 14,124 0 0 0 14,124 15,502 80,047 10,960
2007 14,124 0 0 0 14,124 12,924 92,971 8,272
2008 14,124 0 0 0 14,124 10,571 103,542 6,126
2009 14,124 0 0 0 14,124 8,423 111,965 4,420
2010 14,124 0 0 0 14,124 6,461 118,426 3,070
2011 14,124 0 0 0 14,124 4,670 123,096 2,010
2012 14,124 0 0 0 14,124 3,035 126,131 1,184
2013 14,124 0 0 0 14,124 1,543 127,674 547
2014 9,416 0 0 0 9,416 262 127,936 85
2015 0 0 0 0 0 0 127,936 0
2016 0 0 0 0 0 0 127,936 0
2017 0 0 0 0 0 0 127,936 0
SUBTOT 164,780 0 0 0 164,780 127,936 93,097
REMAIN 0 0 0 0 0 0 127,936 0
TOTAL 164,780 0 0 0 164,780 127,936 93,097
LIFE OF EVALUATION IS 11.67 YEARS.
FINAL PRODUCTION RATE: 50 BBLS/MO
TENGASCO, INC. TABLE 21
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CARPENTER FIELD, EDWARDS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 1-T24S-R17W PROVED
HENNING #1 (LNSG-PSLV) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.875000 0.708801 27.29 5.00% - 46,735
FINAL - 0.875000 0.708801 27.29 10.00% - 35,472
REMARKS - 15.00% - 28,278
20.00% - 23,394
25.00% - 19,905
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 506 0 0 358 0 0.000 27.29 0.00
2004 1 485 0 0 344 0 0.000 27.29 0.00
2005 1 466 0 0 331 0 0.000 27.29 0.00
2006 1 447 0 0 317 0 0.000 27.29 0.00
2007 1 430 0 0 304 0 0.000 27.29 0.00
2008 1 412 0 0 292 0 0.000 27.29 0.00
2009 1 396 0 0 281 0 0.000 27.29 0.00
2010 1 380 0 0 269 0 0.000 27.29 0.00
2011 1 364 0 0 259 0 0.000 27.29 0.00
2012 1 351 0 0 248 0 0.000 27.29 0.00
2013 1 336 0 0 238 0 0.000 27.29 0.00
2014 1 322 0 0 229 0 0.000 27.29 0.00
2015 1 310 0 0 219 0 0.000 27.29 0.00
2016 1 298 0 0 211 0 0.000 27.29 0.00
2017 1 285 0 0 203 0 0.000 27.29 0.00
SUB-TOTAL 5,788 0 0 4,103 0 0.000 27.29 0.00
REMAINDER 2,281 0 0 1,616 0 0.000 27.29 0.00
TOTAL 8,069 0 0 5,719 0 0.000 27.29 0.00
CUMULATIVE 17,789 0 0
ULTIMATE 25,858 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 9,780 0 0 0 9,780 60 0 9,720
2004 9,389 0 0 0 9,389 57 0 9,332
2005 9,013 0 0 0 9,013 55 0 8,958
2006 8,653 0 0 0 8,653 53 0 8,600
2007 8,307 0 0 0 8,307 50 0 8,257
2008 7,974 0 0 0 7,974 49 0 7,925
2009 7,656 0 0 0 7,656 47 0 7,609
2010 7,349 0 0 0 7,349 45 0 7,304
2011 7,055 0 0 0 7,055 43 0 7,012
2012 6,773 0 0 0 6,773 41 0 6,732
2013 6,502 0 0 0 6,502 40 0 6,462
2014 6,242 0 0 0 6,242 38 0 6,204
2015 5,993 0 0 0 5,993 36 0 5,957
2016 5,752 0 0 0 5,752 35 0 5,717
2017 5,523 0 0 0 5,523 34 0 5,489
SUB-TOT 111,961 0 0 0 111,961 683 0 111,278
REMAIN 44,123 0 0 0 44,123 269 0 43,854
TOTAL 156,084 0 0 0 156,084 952 0 155,132
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,591 0 0 0 3,591 6,129 6,129 5,837
2004 3,591 0 0 0 3,591 5,741 11,870 4,949
2005 3,591 0 0 0 3,591 5,367 17,237 4,188
2006 3,591 0 0 0 3,591 5,009 22,246 3,539
2007 3,591 0 0 0 3,591 4,666 26,912 2,983
2008 3,591 0 0 0 3,591 4,334 31,246 2,509
2009 3,591 0 0 0 3,591 4,018 35,264 2,106
2010 3,591 0 0 0 3,591 3,713 38,977 1,761
2011 3,591 0 0 0 3,591 3,421 42,398 1,469
2012 3,591 0 0 0 3,591 3,141 45,539 1,221
2013 3,591 0 0 0 3,591 2,871 48,410 1,010
2014 3,591 0 0 0 3,591 2,613 51,023 832
2015 3,591 0 0 0 3,591 2,366 53,389 683
2016 3,591 0 0 0 3,591 2,126 55,515 554
2017 3,591 0 0 0 3,591 1,898 57,413 449
SUBTOT 53,865 0 0 0 53,865 57,413 34,090
REMAIN 35,611 0 0 0 35,611 8,243 65,656 1,382
TOTAL 89,476 0 0 0 89,476 65,656 35,472
LIFE OF EVALUATION IS 24.92 YEARS.
FINAL PRODUCTION RATE: 16 BBLS/MO
TENGASCO, INC. TABLE 22
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CARROLL FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T17S-R14W PROVED
KEENAN -B- LEASE (ABCK-KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.992754 0.868660 27.29 5.00% - 34,035
FINAL - 0.992754 0.868660 27.29 10.00% - 28,873
REMARKS - 15.00% - 24,891
20.00% - 21,766
25.00% - 19,272
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,005 0 0 873 0 0.000 27.29 0.00
2004 2 974 0 0 846 0 0.000 27.29 0.00
2005 2 945 0 0 821 0 0.000 27.29 0.00
2006 2 917 0 0 797 0 0.000 27.29 0.00
2007 2 890 0 0 772 0 0.000 27.29 0.00
2008 2 862 0 0 750 0 0.000 27.29 0.00
2009 2 837 0 0 727 0 0.000 27.29 0.00
2010 2 812 0 0 705 0 0.000 27.29 0.00
2011 2 787 0 0 684 0 0.000 27.29 0.00
2012 2 764 0 0 663 0 0.000 27.29 0.00
2013 2 741 0 0 644 0 0.000 27.29 0.00
2014 2 659 0 0 573 0 0.000 27.29 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 10,193 0 0 8,855 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 10,193 0 0 8,855 0 0.000 27.29 0.00
CUMULATIVE 114,764 0 0
ULTIMATE 124,957 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 23,815 0 0 0 23,815 145 0 23,670
2004 23,101 0 0 0 23,101 141 0 22,960
2005 22,408 0 0 0 22,408 137 0 22,271
2006 21,736 0 0 0 21,736 132 0 21,604
2007 21,083 0 0 0 21,083 129 0 20,954
2008 20,451 0 0 0 20,451 125 0 20,326
2009 19,838 0 0 0 19,838 121 0 19,717
2010 19,242 0 0 0 19,242 117 0 19,125
2011 18,665 0 0 0 18,665 114 0 18,551
2012 18,105 0 0 0 18,105 111 0 17,994
2013 17,562 0 0 0 17,562 107 0 17,455
2014 15,635 0 0 0 15,635 95 0 15,540
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 241,641 0 0 0 241,641 1,474 0 240,167
REMAIN 0 0 0 0 0 0 0 0
TOTAL 241,641 0 0 0 241,641 1,474 0 240,167
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 16,726 0 0 0 16,726 6,944 6,944 6,615
2004 16,726 0 0 0 16,726 6,234 13,178 5,376
2005 16,726 0 0 0 16,726 5,545 18,723 4,329
2006 16,726 0 0 0 16,726 4,878 23,601 3,448
2007 16,726 0 0 0 16,726 4,228 27,829 2,705
2008 16,726 0 0 0 16,726 3,600 31,429 2,086
2009 16,725 0 0 0 16,725 2,992 34,421 1,569
2010 16,726 0 0 0 16,726 2,399 36,820 1,140
2011 16,726 0 0 0 16,726 1,825 38,645 785
2012 16,726 0 0 0 16,726 1,268 39,913 494
2013 16,726 0 0 0 16,726 729 40,642 258
2014 15,332 0 0 0 15,332 208 40,850 68
2015 0 0 0 0 0 0 40,850 0
2016 0 0 0 0 0 0 40,850 0
2017 0 0 0 0 0 0 40,850 0
SUBTOT 199,317 0 0 0 199,317 40,850 28,873
REMAIN 0 0 0 0 0 0 40,850 0
TOTAL 199,317 0 0 0 199,317 40,850 28,873
LIFE OF EVALUATION IS 11.92 YEARS.
FINAL PRODUCTION RATE: 59 BBLS/MO
TENGASCO, INC. TABLE 23
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CENTERVIEW FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T24S-R13W PROVED
BECKERDITE #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937500 0.807495 27.29 5.00% - 74,223
FINAL - 0.937500 0.807495 27.29 10.00% - 62,903
REMARKS - 15.00% - 54,218
20.00% - 47,427
25.00% - 42,023
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,338 0 0 1,081 0 0.000 27.29 0.00
2004 1 1,258 0 0 1,015 0 0.000 27.29 0.00
2005 1 1,182 0 0 955 0 0.000 27.29 0.00
2006 1 1,112 0 0 898 0 0.000 27.29 0.00
2007 1 1,045 0 0 843 0 0.000 27.29 0.00
2008 1 982 0 0 793 0 0.000 27.29 0.00
2009 1 923 0 0 746 0 0.000 27.29 0.00
2010 1 868 0 0 700 0 0.000 27.29 0.00
2011 1 815 0 0 659 0 0.000 27.29 0.00
2012 1 767 0 0 619 0 0.000 27.29 0.00
2013 1 721 0 0 582 0 0.000 27.29 0.00
2014 1 677 0 0 547 0 0.000 27.29 0.00
2015 1 377 0 0 304 0 0.000 27.29 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 12,065 0 0 9,742 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 12,065 0 0 9,742 0 0.000 27.29 0.00
CUMULATIVE 27,793 0 0
ULTIMATE 39,858 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 29,489 0 0 0 29,489 180 0 29,309
2004 27,719 0 0 0 27,719 169 0 27,550
2005 26,056 0 0 0 26,056 159 0 25,897
2006 24,493 0 0 0 24,493 149 0 24,344
2007 23,023 0 0 0 23,023 141 0 22,882
2008 21,642 0 0 0 21,642 132 0 21,510
2009 20,344 0 0 0 20,344 124 0 20,220
2010 19,122 0 0 0 19,122 117 0 19,005
2011 17,976 0 0 0 17,976 109 0 17,867
2012 16,897 0 0 0 16,897 103 0 16,794
2013 15,883 0 0 0 15,883 97 0 15,786
2014 14,930 0 0 0 14,930 91 0 14,839
2015 8,292 0 0 0 8,292 51 0 8,241
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 265,866 0 0 0 265,866 1,622 0 264,244
REMAIN 0 0 0 0 0 0 0 0
TOTAL 265,866 0 0 0 265,866 1,622 0 264,244
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 13,905 0 0 0 13,905 15,404 15,404 14,676
2004 13,905 0 0 0 13,905 13,645 29,049 11,769
2005 13,905 0 0 0 13,905 11,992 41,041 9,363
2006 13,905 0 0 0 13,905 10,439 51,480 7,378
2007 13,905 0 0 0 13,905 8,977 60,457 5,745
2008 13,905 0 0 0 13,905 7,605 68,062 4,406
2009 13,905 0 0 0 13,905 6,315 74,377 3,312
2010 13,905 0 0 0 13,905 5,100 79,477 2,422
2011 13,905 0 0 0 13,905 3,962 83,439 1,704
2012 13,905 0 0 0 13,905 2,889 86,328 1,126
2013 13,905 0 0 0 13,905 1,881 88,209 664
2014 13,905 0 0 0 13,905 934 89,143 300
2015 8,111 0 0 0 8,111 130 89,273 38
2016 0 0 0 0 0 0 89,273 0
2017 0 0 0 0 0 0 89,273 0
SUBTOT 174,971 0 0 0 174,971 89,273 62,903
REMAIN 0 0 0 0 0 0 89,273 0
TOTAL 174,971 0 0 0 174,971 89,273 62,903
LIFE OF EVALUATION IS 12.58 YEARS.
FINAL PRODUCTION RATE: 53 BBLS/MO
TENGASCO, INC. TABLE 24
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHASE-SILICA FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T20S-R11W PROVED
LANDER #1 PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.915630 0.741803 27.29 5.00% - 151,446
FINAL - 0.915630 0.741803 27.29 10.00% - 117,718
REMARKS - 15.00% - 95,299
20.00% - 79,643
25.00% - 68,233
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,737 0 0 1,288 0 0.000 27.29 0.00
2004 1 1,660 0 0 1,232 0 0.000 27.29 0.00
2005 1 1,587 0 0 1,177 0 0.000 27.29 0.00
2006 1 1,517 0 0 1,126 0 0.000 27.29 0.00
2007 1 1,451 0 0 1,076 0 0.000 27.29 0.00
2008 1 1,387 0 0 1,028 0 0.000 27.29 0.00
2009 1 1,325 0 0 984 0 0.000 27.29 0.00
2010 1 1,268 0 0 940 0 0.000 27.29 0.00
2011 1 1,211 0 0 899 0 0.000 27.29 0.00
2012 1 1,159 0 0 859 0 0.000 27.29 0.00
2013 1 1,107 0 0 822 0 0.000 27.29 0.00
2014 1 1,059 0 0 785 0 0.000 27.29 0.00
2015 1 1,012 0 0 751 0 0.000 27.29 0.00
2016 1 967 0 0 717 0 0.000 27.29 0.00
2017 1 925 0 0 686 0 0.000 27.29 0.00
SUB-TOTAL 19,372 0 0 14,370 0 0.000 27.29 0.00
REMAINDER 5,320 0 0 3,947 0 0.000 27.29 0.00
TOTAL 24,692 0 0 18,317 0 0.000 27.29 0.00
CUMULATIVE 24,095 0 0
ULTIMATE 48,787 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 35,156 0 0 0 35,156 214 0 34,942
2004 33,609 0 0 0 33,609 205 0 33,404
2005 32,131 0 0 0 32,131 196 0 31,935
2006 30,716 0 0 0 30,716 188 0 30,528
2007 29,366 0 0 0 29,366 179 0 29,187
2008 28,073 0 0 0 28,073 171 0 27,902
2009 26,838 0 0 0 26,838 164 0 26,674
2010 25,657 0 0 0 25,657 156 0 25,501
2011 24,528 0 0 0 24,528 150 0 24,378
2012 23,448 0 0 0 23,448 143 0 23,305
2013 22,418 0 0 0 22,418 137 0 22,281
2014 21,430 0 0 0 21,430 131 0 21,299
2015 20,488 0 0 0 20,488 125 0 20,363
2016 19,586 0 0 0 19,586 119 0 19,467
2017 18,725 0 0 0 18,725 114 0 18,611
SUB-TOT 392,169 0 0 0 392,169 2,392 0 389,777
REMAIN 107,690 0 0 0 107,690 657 0 107,033
TOTAL 499,859 0 0 0 499,859 3,049 0 496,810
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 13,361 0 0 0 13,361 21,581 21,581 20,553
2004 13,361 0 0 0 13,361 20,043 41,624 17,280
2005 13,361 0 0 0 13,361 18,574 60,198 14,496
2006 13,360 0 0 0 13,360 17,168 77,366 12,128
2007 13,361 0 0 0 13,361 15,826 93,192 10,121
2008 13,361 0 0 0 13,361 14,541 107,733 8,418
2009 13,361 0 0 0 13,361 13,313 121,046 6,977
2010 13,361 0 0 0 13,361 12,140 133,186 5,759
2011 13,361 0 0 0 13,361 11,017 144,203 4,732
2012 13,361 0 0 0 13,361 9,944 154,147 3,865
2013 13,361 0 0 0 13,361 8,920 163,067 3,140
2014 13,360 0 0 0 13,360 7,939 171,006 2,529
2015 13,361 0 0 0 13,361 7,002 178,008 2,020
2016 13,361 0 0 0 13,361 6,106 184,114 1,594
2017 13,361 0 0 0 13,361 5,250 189,364 1,241
SUBTOT 200,413 0 0 0 200,413 189,364 114,853
REMAIN 91,299 0 0 0 91,299 15,734 205,098 2,865
TOTAL 291,712 0 0 0 291,712 205,098 117,718
LIFE OF EVALUATION IS 21.83 YEARS.
FINAL PRODUCTION RATE: 56 BBLS/MO
TENGASCO, INC. TABLE 25
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHASE-SILICA FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T20S-R11W PROBABLE
LANDER #3 PBUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.915630 0.741803 27.29 5.00% - 356,668
FINAL - 0.915630 0.741803 27.29 10.00% - 239,032
REMARKS - 15.00% - 167,567
20.00% - 121,299
25.00% - 89,809
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 3,129 0 0 2,321 0 0.000 27.29 0.00
2005 1 3,790 0 0 2,812 0 0.000 27.29 0.00
2006 1 3,375 0 0 2,503 0 0.000 27.29 0.00
2007 1 3,165 0 0 2,348 0 0.000 27.29 0.00
2008 1 2,968 0 0 2,202 0 0.000 27.29 0.00
2009 1 2,784 0 0 2,065 0 0.000 27.29 0.00
2010 1 2,611 0 0 1,937 0 0.000 27.29 0.00
2011 1 2,449 0 0 1,816 0 0.000 27.29 0.00
2012 1 2,297 0 0 1,704 0 0.000 27.29 0.00
2013 1 2,154 0 0 1,598 0 0.000 27.29 0.00
2014 1 2,020 0 0 1,498 0 0.000 27.29 0.00
2015 1 1,894 0 0 1,406 0 0.000 27.29 0.00
2016 1 1,777 0 0 1,318 0 0.000 27.29 0.00
2017 1 1,666 0 0 1,236 0 0.000 27.29 0.00
SUB-TOTAL 36,079 0 0 26,764 0 0.000 27.29 0.00
REMAINDER 13,902 0 0 10,312 0 0.000 27.29 0.00
TOTAL 49,981 0 0 37,076 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 49,981 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 63,338 0 0 0 63,338 386 0 62,952
2005 76,728 0 0 0 76,728 468 0 76,260
2006 68,320 0 0 0 68,320 417 0 67,903
2007 64,075 0 0 0 64,075 391 0 63,684
2008 60,093 0 0 0 60,093 367 0 59,726
2009 56,359 0 0 0 56,359 343 0 56,016
2010 52,857 0 0 0 52,857 323 0 52,534
2011 49,572 0 0 0 49,572 302 0 49,270
2012 46,492 0 0 0 46,492 284 0 46,208
2013 43,602 0 0 0 43,602 266 0 43,336
2014 40,894 0 0 0 40,894 249 0 40,645
2015 38,352 0 0 0 38,352 234 0 38,118
2016 35,969 0 0 0 35,969 220 0 35,749
2017 33,734 0 0 0 33,734 205 0 33,529
SUB-TOT 730,385 0 0 0 730,385 4,455 0 725,930
REMAIN 281,421 0 0 0 281,421 1,717 0 279,704
TOTAL 1,011,806 0 0 0 1,011,806 6,172 0 1,005,634
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,680 0 91,563 0 98,243 -35,291 -35,291 -31,157
2005 13,361 0 0 0 13,361 62,899 27,608 49,204
2006 13,361 0 0 0 13,361 54,542 82,150 38,532
2007 13,361 0 0 0 13,361 50,323 132,473 32,182
2008 13,361 0 0 0 13,361 46,365 178,838 26,840
2009 13,361 0 0 0 13,361 42,655 221,493 22,353
2010 13,361 0 0 0 13,361 39,173 260,666 18,582
2011 13,361 0 0 0 13,361 35,909 296,575 15,420
2012 13,360 0 0 0 13,360 32,848 329,423 12,769
2013 13,361 0 0 0 13,361 29,975 359,398 10,547
2014 13,361 0 0 0 13,361 27,284 386,682 8,691
2015 13,361 0 0 0 13,361 24,757 411,439 7,138
2016 13,361 0 0 0 13,361 22,388 433,827 5,844
2017 13,361 0 0 0 13,361 20,168 453,995 4,766
SUBTOT 180,372 0 91,563 0 271,935 453,995 221,711
REMAIN 167,571 0 0 0 167,571 112,133 566,128 17,321
TOTAL 347,943 0 91,563 0 439,506 566,128 239,032
LIFE OF EVALUATION IS 27.54 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 26
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHASE-SILICA FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 3-T20S-R11W PROVED
ROSE LEASE PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 94,653 0 0
ULTIMATE 94,653 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 27
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CHEYENNE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 2-T19S-R12W PROVED
HAMMEKE #1 (SIMPSON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.833984 27.29 5.00% - 66,998
FINAL - 1.000000 0.833984 27.29 10.00% - 56,500
REMARKS - 15.00% - 48,808
20.00% - 43,006
25.00% - 38,510
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,290 0 0 1,076 0 0.000 27.29 0.00
2004 1 912 0 0 761 0 0.000 27.29 0.00
2005 1 809 0 0 674 0 0.000 27.29 0.00
2006 1 773 0 0 645 0 0.000 27.29 0.00
2007 1 740 0 0 617 0 0.000 27.29 0.00
2008 1 706 0 0 589 0 0.000 27.29 0.00
2009 1 676 0 0 563 0 0.000 27.29 0.00
2010 1 646 0 0 539 0 0.000 27.29 0.00
2011 1 617 0 0 515 0 0.000 27.29 0.00
2012 1 591 0 0 492 0 0.000 27.29 0.00
2013 1 564 0 0 471 0 0.000 27.29 0.00
2014 1 540 0 0 450 0 0.000 27.29 0.00
2015 1 515 0 0 430 0 0.000 27.29 0.00
2016 1 493 0 0 411 0 0.000 27.29 0.00
2017 1 472 0 0 394 0 0.000 27.29 0.00
SUB-TOTAL 10,344 0 0 8,627 0 0.000 27.29 0.00
REMAINDER 265 0 0 221 0 0.000 27.29 0.00
TOTAL 10,609 0 0 8,848 0 0.000 27.29 0.00
CUMULATIVE 38,684 0 0
ULTIMATE 49,293 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 29,351 0 0 0 29,351 179 0 29,172
2004 20,769 0 0 0 20,769 127 0 20,642
2005 18,410 0 0 0 18,410 112 0 18,298
2006 17,600 0 0 0 17,600 107 0 17,493
2007 16,825 0 0 0 16,825 103 0 16,722
2008 16,085 0 0 0 16,085 98 0 15,987
2009 15,377 0 0 0 15,377 94 0 15,283
2010 14,700 0 0 0 14,700 90 0 14,610
2011 14,054 0 0 0 14,054 85 0 13,969
2012 13,435 0 0 0 13,435 82 0 13,353
2013 12,845 0 0 0 12,845 79 0 12,766
2014 12,279 0 0 0 12,279 75 0 12,204
2015 11,738 0 0 0 11,738 71 0 11,667
2016 11,223 0 0 0 11,223 69 0 11,154
2017 10,728 0 0 0 10,728 65 0 10,663
SUB-TOT 235,419 0 0 0 235,419 1,436 0 233,983
REMAIN 6,039 0 0 0 6,039 37 0 6,002
TOTAL 241,458 0 0 0 241,458 1,473 0 239,985
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 10,152 0 0 0 10,152 19,020 19,020 18,186
2004 10,152 0 0 0 10,152 10,490 29,510 9,080
2005 10,152 0 0 0 10,152 8,146 37,656 6,359
2006 10,152 0 0 0 10,152 7,341 44,997 5,187
2007 10,152 0 0 0 10,152 6,570 51,567 4,203
2008 10,152 0 0 0 10,152 5,835 57,402 3,379
2009 10,152 0 0 0 10,152 5,131 62,533 2,690
2010 10,152 0 0 0 10,152 4,458 66,991 2,116
2011 10,152 0 0 0 10,152 3,817 70,808 1,640
2012 10,152 0 0 0 10,152 3,201 74,009 1,245
2013 10,152 0 0 0 10,152 2,614 76,623 921
2014 10,152 0 0 0 10,152 2,052 78,675 654
2015 10,152 0 0 0 10,152 1,515 80,190 438
2016 10,152 0 0 0 10,152 1,002 81,192 262
2017 10,152 0 0 0 10,152 511 81,703 122
SUBTOT 152,280 0 0 0 152,280 81,703 56,482
REMAIN 5,922 0 0 0 5,922 80 81,783 18
TOTAL 158,202 0 0 0 158,202 81,783 56,500
LIFE OF EVALUATION IS 15.58 YEARS.
FINAL PRODUCTION RATE: 37 BBLS/MO
TENGASCO, INC. TABLE 28
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CONVERSE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 19-T20S-R15W PROVED
IANNITTI LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 197,877
FINAL - 1.000000 0.875000 27.29 10.00% - 161,314
REMARKS - 15.00% - 135,122
20.00% - 115,741
25.00% - 100,976
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 6 2,668 0 0 2,334 0 0.000 27.29 0.00
2004 6 2,517 0 0 2,203 0 0.000 27.29 0.00
2005 6 2,378 0 0 2,081 0 0.000 27.29 0.00
2006 6 2,251 0 0 1,969 0 0.000 27.29 0.00
2007 6 2,134 0 0 1,867 0 0.000 27.29 0.00
2008 6 2,025 0 0 1,772 0 0.000 27.29 0.00
2009 6 1,924 0 0 1,684 0 0.000 27.29 0.00
2010 6 1,832 0 0 1,603 0 0.000 27.29 0.00
2011 6 1,745 0 0 1,526 0 0.000 27.29 0.00
2012 6 1,664 0 0 1,457 0 0.000 27.29 0.00
2013 6 1,589 0 0 1,390 0 0.000 27.29 0.00
2014 6 1,519 0 0 1,330 0 0.000 27.29 0.00
2015 6 1,454 0 0 1,272 0 0.000 27.29 0.00
2016 6 1,392 0 0 1,218 0 0.000 27.29 0.00
2017 6 1,335 0 0 1,167 0 0.000 27.29 0.00
SUB-TOTAL 28,427 0 0 24,873 0 0.000 27.29 0.00
REMAINDER 2,710 0 0 2,372 0 0.000 27.29 0.00
TOTAL 31,137 0 0 27,245 0 0.000 27.29 0.00
CUMULATIVE 118,773 0 0
ULTIMATE 149,910 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 63,707 0 0 0 63,707 389 0 63,318
2004 60,101 0 0 0 60,101 366 0 59,735
2005 56,793 0 0 0 56,793 347 0 56,446
2006 53,750 0 0 0 53,750 328 0 53,422
2007 50,945 0 0 0 50,945 310 0 50,635
2008 48,354 0 0 0 48,354 295 0 48,059
2009 45,957 0 0 0 45,957 281 0 45,676
2010 43,733 0 0 0 43,733 266 0 43,467
2011 41,667 0 0 0 41,667 255 0 41,412
2012 39,743 0 0 0 39,743 242 0 39,501
2013 37,950 0 0 0 37,950 231 0 37,719
2014 36,276 0 0 0 36,276 222 0 36,054
2015 34,710 0 0 0 34,710 211 0 34,499
2016 33,243 0 0 0 33,243 203 0 33,040
2017 31,868 0 0 0 31,868 195 0 31,673
SUB-TOT 678,797 0 0 0 678,797 4,141 0 674,656
REMAIN 64,716 0 0 0 64,716 394 0 64,322
TOTAL 743,513 0 0 0 743,513 4,535 0 738,978
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 28,440 0 0 0 28,440 34,878 34,878 33,227
2004 28,440 0 0 0 28,440 31,295 66,173 26,988
2005 28,440 0 0 0 28,440 28,006 94,179 21,863
2006 28,440 0 0 0 28,440 24,982 119,161 17,654
2007 28,440 0 0 0 28,440 22,195 141,356 14,199
2008 28,440 0 0 0 28,440 19,619 160,975 11,361
2009 28,440 0 0 0 28,440 17,236 178,211 9,036
2010 28,440 0 0 0 28,440 15,027 193,238 7,131
2011 28,440 0 0 0 28,440 12,972 206,210 5,574
2012 28,440 0 0 0 28,440 11,061 217,271 4,302
2013 28,440 0 0 0 28,440 9,279 226,550 3,268
2014 28,440 0 0 0 28,440 7,614 234,164 2,427
2015 28,440 0 0 0 28,440 6,059 240,223 1,749
2016 28,440 0 0 0 28,440 4,600 244,823 1,203
2017 28,440 0 0 0 28,440 3,233 248,056 766
SUBTOT 426,600 0 0 0 426,600 248,056 160,748
REMAIN 61,620 0 0 0 61,620 2,702 250,758 566
TOTAL 488,220 0 0 0 488,220 250,758 161,314
LIFE OF EVALUATION IS 17.17 YEARS.
FINAL PRODUCTION RATE: 100 BBLS/MO
TENGASCO, INC. TABLE 29
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
CONVERSE FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 19-T20S-R15W PROVED
IANNITTI #9 PUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 257,798
FINAL - 1.000000 0.875000 27.29 10.00% - 177,869
REMARKS - 15.00% - 127,390
20.00% - 93,759
25.00% - 70,361
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 3,116 0 0 2,727 0 0.000 27.29 0.00
2005 1 2,615 0 0 2,288 0 0.000 27.29 0.00
2006 1 1,978 0 0 1,730 0 0.000 27.29 0.00
2007 1 1,810 0 0 1,585 0 0.000 27.29 0.00
2008 1 1,657 0 0 1,449 0 0.000 27.29 0.00
2009 1 1,517 0 0 1,327 0 0.000 27.29 0.00
2010 1 1,388 0 0 1,215 0 0.000 27.29 0.00
2011 1 1,270 0 0 1,111 0 0.000 27.29 0.00
2012 1 1,163 0 0 1,018 0 0.000 27.29 0.00
2013 1 1,064 0 0 931 0 0.000 27.29 0.00
2014 1 974 0 0 852 0 0.000 27.29 0.00
2015 1 892 0 0 780 0 0.000 27.29 0.00
2016 1 816 0 0 714 0 0.000 27.29 0.00
2017 1 746 0 0 654 0 0.000 27.29 0.00
SUB-TOTAL 21,006 0 0 18,381 0 0.000 27.29 0.00
REMAINDER 3,987 0 0 3,488 0 0.000 27.29 0.00
TOTAL 24,993 0 0 21,869 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 24,993 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 74,411 0 0 0 74,411 454 0 73,957
2005 62,438 0 0 0 62,438 381 0 62,057
2006 47,234 0 0 0 47,234 288 0 46,946
2007 43,230 0 0 0 43,230 264 0 42,966
2008 39,566 0 0 0 39,566 241 0 39,325
2009 36,214 0 0 0 36,214 221 0 35,993
2010 33,144 0 0 0 33,144 202 0 32,942
2011 30,335 0 0 0 30,335 185 0 30,150
2012 27,764 0 0 0 27,764 169 0 27,595
2013 25,411 0 0 0 25,411 155 0 25,256
2014 23,258 0 0 0 23,258 142 0 23,116
2015 21,287 0 0 0 21,287 130 0 21,157
2016 19,482 0 0 0 19,482 119 0 19,363
2017 17,832 0 0 0 17,832 109 0 17,723
SUB-TOT 501,606 0 0 0 501,606 3,060 0 498,546
REMAIN 95,196 0 0 0 95,196 580 0 94,616
TOTAL 596,802 0 0 0 596,802 3,640 0 593,162
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 2,370 0 100,000 0 102,370 -28,413 -28,413 -25,451
2005 4,740 0 0 0 4,740 57,317 28,904 45,019
2006 4,740 0 0 0 4,740 42,206 71,110 29,822
2007 4,740 0 0 0 4,740 38,226 109,336 24,449
2008 4,740 0 0 0 4,740 34,585 143,921 20,025
2009 4,740 0 0 0 4,740 31,253 175,174 16,379
2010 4,740 0 0 0 4,740 28,202 203,376 13,380
2011 4,740 0 0 0 4,740 25,410 228,786 10,913
2012 4,740 0 0 0 4,740 22,855 251,641 8,886
2013 4,740 0 0 0 4,740 20,516 272,157 7,220
2014 4,740 0 0 0 4,740 18,376 290,533 5,854
2015 4,740 0 0 0 4,740 16,417 306,950 4,734
2016 4,740 0 0 0 4,740 14,623 321,573 3,817
2017 4,740 0 0 0 4,740 12,983 334,556 3,069
SUBTOT 63,990 0 100,000 0 163,990 334,556 168,116
REMAIN 36,499 0 0 0 36,499 58,117 392,673 9,753
TOTAL 100,489 0 100,000 0 200,489 392,673 177,869
LIFE OF EVALUATION IS 22.70 YEARS.
FINAL PRODUCTION RATE: 30 BBLS/MO
TENGASCO, INC. TABLE 30
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
COOPER FIELD, GRAHAM COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 4-T10S-R21W PROVED
DEYOUNG LEASE (ABCK-TOPK) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 12,609
FINAL - 1.000000 0.875000 27.29 10.00% - 11,893
REMARKS - 15.00% - 11,239
20.00% - 10,643
25.00% - 10,097
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,720 0 0 1,505 0 0.000 27.29 0.00
2004 2 1,633 0 0 1,429 0 0.000 27.29 0.00
2005 2 1,552 0 0 1,358 0 0.000 27.29 0.00
2006 2 1,113 0 0 973 0 0.000 27.29 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 6,018 0 0 5,265 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 6,018 0 0 5,265 0 0.000 27.29 0.00
CUMULATIVE 60,888 0 0
ULTIMATE 66,906 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 41,060 0 0 0 41,060 250 0 40,810
2004 39,007 0 0 0 39,007 238 0 38,769
2005 37,057 0 0 0 37,057 226 0 36,831
2006 26,571 0 0 0 26,571 163 0 26,408
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 143,695 0 0 0 143,695 877 0 142,818
REMAIN 0 0 0 0 0 0 0 0
TOTAL 143,695 0 0 0 143,695 877 0 142,818
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 34,512 0 0 0 34,512 6,298 6,298 6,011
2004 34,512 0 0 0 34,512 4,257 10,555 3,682
2005 34,512 0 0 0 34,512 2,319 12,874 1,821
2006 25,884 0 0 0 25,884 524 13,398 379
2007 0 0 0 0 0 0 13,398 0
2008 0 0 0 0 0 0 13,398 0
2009 0 0 0 0 0 0 13,398 0
2010 0 0 0 0 0 0 13,398 0
2011 0 0 0 0 0 0 13,398 0
2012 0 0 0 0 0 0 13,398 0
2013 0 0 0 0 0 0 13,398 0
2014 0 0 0 0 0 0 13,398 0
2015 0 0 0 0 0 0 13,398 0
2016 0 0 0 0 0 0 13,398 0
2017 0 0 0 0 0 0 13,398 0
SUBTOT 129,420 0 0 0 129,420 13,398 11,893
REMAIN 0 0 0 0 0 0 13,398 0
TOTAL 129,420 0 0 0 129,420 13,398 11,893
LIFE OF EVALUATION IS 3.75 YEARS.
FINAL PRODUCTION RATE: 122 BBLS/MO
TENGASCO, INC. TABLE 31
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
COOPER FIELD, GRAHAM COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T10S-R21W PROVED
LEWIS LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 174,026
FINAL - 1.000000 0.875000 27.29 10.00% - 133,562
REMARKS - 15.00% - 107,355
20.00% - 89,360
25.00% - 76,387
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,390 0 0 1,216 0 0.000 27.29 0.00
2004 2 1,316 0 0 1,152 0 0.000 27.29 0.00
2005 2 1,246 0 0 1,090 0 0.000 27.29 0.00
2006 2 1,181 0 0 1,033 0 0.000 27.29 0.00
2007 2 1,117 0 0 978 0 0.000 27.29 0.00
2008 2 1,059 0 0 926 0 0.000 27.29 0.00
2009 2 1,002 0 0 878 0 0.000 27.29 0.00
2010 2 950 0 0 830 0 0.000 27.29 0.00
2011 2 899 0 0 787 0 0.000 27.29 0.00
2012 2 851 0 0 745 0 0.000 27.29 0.00
2013 2 806 0 0 705 0 0.000 27.29 0.00
2014 2 764 0 0 668 0 0.000 27.29 0.00
2015 2 723 0 0 633 0 0.000 27.29 0.00
2016 2 685 0 0 599 0 0.000 27.29 0.00
2017 2 648 0 0 567 0 0.000 27.29 0.00
SUB-TOTAL 14,637 0 0 12,807 0 0.000 27.29 0.00
REMAINDER 4,711 0 0 4,122 0 0.000 27.29 0.00
TOTAL 19,348 0 0 16,929 0 0.000 27.29 0.00
CUMULATIVE 82,485 0 0
ULTIMATE 101,833 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 33,187 0 0 0 33,187 202 0 32,985
2004 31,428 0 0 0 31,428 192 0 31,236
2005 29,763 0 0 0 29,763 182 0 29,581
2006 28,185 0 0 0 28,185 172 0 28,013
2007 26,691 0 0 0 26,691 162 0 26,529
2008 25,276 0 0 0 25,276 155 0 25,121
2009 23,937 0 0 0 23,937 146 0 23,791
2010 22,669 0 0 0 22,669 138 0 22,531
2011 21,466 0 0 0 21,466 131 0 21,335
2012 20,330 0 0 0 20,330 124 0 20,206
2013 19,251 0 0 0 19,251 117 0 19,134
2014 18,232 0 0 0 18,232 112 0 18,120
2015 17,265 0 0 0 17,265 105 0 17,160
2016 16,350 0 0 0 16,350 100 0 16,250
2017 15,483 0 0 0 15,483 94 0 15,389
SUB-TOT 349,513 0 0 0 349,513 2,132 0 347,381
REMAIN 112,487 0 0 0 112,487 686 0 111,801
TOTAL 462,000 0 0 0 462,000 2,818 0 459,182
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 8,880 0 0 0 8,880 24,105 24,105 22,958
2004 8,880 0 0 0 8,880 22,356 46,461 19,274
2005 8,880 0 0 0 8,880 20,701 67,162 16,155
2006 8,880 0 0 0 8,880 19,133 86,295 13,517
2007 8,880 0 0 0 8,880 17,649 103,944 11,287
2008 8,880 0 0 0 8,880 16,241 120,185 9,402
2009 8,880 0 0 0 8,880 14,911 135,096 7,814
2010 8,880 0 0 0 8,880 13,651 148,747 6,476
2011 8,880 0 0 0 8,880 12,455 161,202 5,348
2012 8,880 0 0 0 8,880 11,326 172,528 4,403
2013 8,880 0 0 0 8,880 10,254 182,782 3,608
2014 8,880 0 0 0 8,880 9,240 192,022 2,944
2015 8,880 0 0 0 8,880 8,280 200,302 2,388
2016 8,880 0 0 0 8,880 7,370 207,672 1,924
2017 8,880 0 0 0 8,880 6,509 214,181 1,538
SUBTOT 133,200 0 0 0 133,200 214,181 129,036
REMAIN 85,100 0 0 0 85,100 26,701 240,882 4,526
TOTAL 218,300 0 0 0 218,300 240,882 133,562
LIFE OF EVALUATION IS 24.58 YEARS.
FINAL PRODUCTION RATE: 31 BBLS/MO
TENGASCO, INC. TABLE 32
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DAVIDSON FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T15S-R11W PROVED
FOSTER LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.847656 27.29 5.00% - 103,114
FINAL - 1.000000 0.847656 27.29 10.00% - 92,137
REMARKS - 15.00% - 82,969
20.00% - 75,248
25.00% - 68,692
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 2,577 0 0 2,184 0 0.000 27.29 0.00
2004 4 2,344 0 0 1,988 0 0.000 27.29 0.00
2005 4 2,134 0 0 1,808 0 0.000 27.29 0.00
2006 4 1,942 0 0 1,646 0 0.000 27.29 0.00
2007 4 1,767 0 0 1,498 0 0.000 27.29 0.00
2008 4 1,607 0 0 1,363 0 0.000 27.29 0.00
2009 4 1,464 0 0 1,240 0 0.000 27.29 0.00
2010 4 1,331 0 0 1,129 0 0.000 27.29 0.00
2011 4 105 0 0 89 0 0.000 27.29 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 15,271 0 0 12,945 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 15,271 0 0 12,945 0 0.000 27.29 0.00
CUMULATIVE 153,269 0 0
ULTIMATE 168,540 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 59,603 0 0 0 59,603 364 0 59,239
2004 54,239 0 0 0 54,239 330 0 53,909
2005 49,357 0 0 0 49,357 302 0 49,055
2006 44,915 0 0 0 44,915 273 0 44,642
2007 40,873 0 0 0 40,873 250 0 40,623
2008 37,194 0 0 0 37,194 227 0 36,967
2009 33,847 0 0 0 33,847 206 0 33,641
2010 30,801 0 0 0 30,801 188 0 30,613
2011 2,438 0 0 0 2,438 15 0 2,423
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 353,267 0 0 0 353,267 2,155 0 351,112
REMAIN 0 0 0 0 0 0 0 0
TOTAL 353,267 0 0 0 353,267 2,155 0 351,112
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 29,040 0 0 0 29,040 30,199 30,199 28,788
2004 29,040 0 0 0 29,040 24,869 55,068 21,463
2005 29,040 0 0 0 29,040 20,015 75,083 15,640
2006 29,040 0 0 0 29,040 15,602 90,685 11,039
2007 29,040 0 0 0 29,040 11,583 102,268 7,423
2008 29,040 0 0 0 29,040 7,927 110,195 4,602
2009 29,040 0 0 0 29,040 4,601 114,796 2,424
2010 29,040 0 0 0 29,040 1,573 116,369 756
2011 2,420 0 0 0 2,420 3 116,372 2
2012 0 0 0 0 0 0 116,372 0
2013 0 0 0 0 0 0 116,372 0
2014 0 0 0 0 0 0 116,372 0
2015 0 0 0 0 0 0 116,372 0
2016 0 0 0 0 0 0 116,372 0
2017 0 0 0 0 0 0 116,372 0
SUBTOT 234,740 0 0 0 234,740 116,372 92,137
REMAIN 0 0 0 0 0 0 116,372 0
TOTAL 234,740 0 0 0 234,740 116,372 92,137
LIFE OF EVALUATION IS 8.08 YEARS.
FINAL PRODUCTION RATE: 105 BBLS/MO
TENGASCO, INC. TABLE 33
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DISTRICT 57 FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T12S-R20W PROVED
FLAX #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 95,846
FINAL - 1.000000 0.875000 27.29 10.00% - 68,187
REMARKS - 15.00% - 52,301
20.00% - 42,243
25.00% - 35,380
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 722 0 0 632 0 0.000 27.29 0.00
2004 1 703 0 0 615 0 0.000 27.29 0.00
2005 1 683 0 0 598 0 0.000 27.29 0.00
2006 1 665 0 0 582 0 0.000 27.29 0.00
2007 1 648 0 0 566 0 0.000 27.29 0.00
2008 1 629 0 0 551 0 0.000 27.29 0.00
2009 1 613 0 0 536 0 0.000 27.29 0.00
2010 1 596 0 0 522 0 0.000 27.29 0.00
2011 1 580 0 0 507 0 0.000 27.29 0.00
2012 1 565 0 0 494 0 0.000 27.29 0.00
2013 1 549 0 0 481 0 0.000 27.29 0.00
2014 1 534 0 0 467 0 0.000 27.29 0.00
2015 1 520 0 0 455 0 0.000 27.29 0.00
2016 1 506 0 0 443 0 0.000 27.29 0.00
2017 1 492 0 0 431 0 0.000 27.29 0.00
SUB-TOTAL 9,005 0 0 7,880 0 0.000 27.29 0.00
REMAINDER 7,145 0 0 6,251 0 0.000 27.29 0.00
TOTAL 16,150 0 0 14,131 0 0.000 27.29 0.00
CUMULATIVE 46,663 0 0
ULTIMATE 62,813 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 17,242 0 0 0 17,242 105 0 17,137
2004 16,777 0 0 0 16,777 103 0 16,674
2005 16,324 0 0 0 16,324 99 0 16,225
2006 15,882 0 0 0 15,882 97 0 15,785
2007 15,455 0 0 0 15,455 94 0 15,361
2008 15,036 0 0 0 15,036 92 0 14,944
2009 14,631 0 0 0 14,631 89 0 14,542
2010 14,236 0 0 0 14,236 87 0 14,149
2011 13,852 0 0 0 13,852 85 0 13,767
2012 13,477 0 0 0 13,477 82 0 13,395
2013 13,114 0 0 0 13,114 80 0 13,034
2014 12,759 0 0 0 12,759 78 0 12,681
2015 12,415 0 0 0 12,415 75 0 12,340
2016 12,080 0 0 0 12,080 74 0 12,006
2017 11,754 0 0 0 11,754 72 0 11,682
SUB-TOT 215,034 0 0 0 215,034 1,312 0 213,722
REMAIN 170,609 0 0 0 170,609 1,040 0 169,569
TOTAL 385,643 0 0 0 385,643 2,352 0 383,291
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,888 0 0 0 6,888 10,249 10,249 9,759
2004 6,888 0 0 0 6,888 9,786 20,035 8,435
2005 6,888 0 0 0 6,888 9,337 29,372 7,285
2006 6,888 0 0 0 6,888 8,897 38,269 6,284
2007 6,888 0 0 0 6,888 8,473 46,742 5,417
2008 6,888 0 0 0 6,888 8,056 54,798 4,662
2009 6,888 0 0 0 6,888 7,654 62,452 4,010
2010 6,888 0 0 0 6,888 7,261 69,713 3,443
2011 6,888 0 0 0 6,888 6,879 76,592 2,953
2012 6,888 0 0 0 6,888 6,507 83,099 2,529
2013 6,888 0 0 0 6,888 6,146 89,245 2,162
2014 6,888 0 0 0 6,888 5,793 95,038 1,845
2015 6,888 0 0 0 6,888 5,452 100,490 1,571
2016 6,888 0 0 0 6,888 5,118 105,608 1,336
2017 6,888 0 0 0 6,888 4,794 110,402 1,132
SUBTOT 103,320 0 0 0 103,320 110,402 62,823
REMAIN 129,724 0 0 0 129,724 39,845 150,247 5,364
TOTAL 233,044 0 0 0 233,044 150,247 68,187
LIFE OF EVALUATION IS 33.83 YEARS.
FINAL PRODUCTION RATE: 24 BBLS/MO
TENGASCO, INC. TABLE 34
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 14-T22S-R15W PROVED
BARSTOW #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937500 5.00% - 0
FINAL - 0.937500 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 75,289 0 0
ULTIMATE 75,289 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 35
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
DUNES NORTH FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 15-T22S-R15W PROVED
LOVETT #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937000 5.00% - 0
FINAL - 0.937000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 107,986 0 0
ULTIMATE 107,986 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 36
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ELLIS NW FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 23-T12S-R21W PROVED
BAUGHER #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.765630 27.29 5.00% - 28,382
FINAL - 1.000000 0.765630 27.29 10.00% - 25,211
REMARKS - 15.00% - 22,584
20.00% - 20,387
25.00% - 18,534
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 989 0 0 757 0 0.000 27.29 0.00
2004 1 930 0 0 712 0 0.000 27.29 0.00
2005 1 875 0 0 670 0 0.000 27.29 0.00
2006 1 822 0 0 629 0 0.000 27.29 0.00
2007 1 773 0 0 592 0 0.000 27.29 0.00
2008 1 727 0 0 557 0 0.000 27.29 0.00
2009 1 683 0 0 523 0 0.000 27.29 0.00
2010 1 643 0 0 492 0 0.000 27.29 0.00
2011 1 205 0 0 157 0 0.000 27.29 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 6,647 0 0 5,089 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 6,647 0 0 5,089 0 0.000 27.29 0.00
CUMULATIVE 76,718 0 0
ULTIMATE 83,365 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 20,668 0 0 0 20,668 126 0 20,542
2004 19,433 0 0 0 19,433 119 0 19,314
2005 18,272 0 0 0 18,272 111 0 18,161
2006 17,179 0 0 0 17,179 105 0 17,074
2007 16,152 0 0 0 16,152 98 0 16,054
2008 15,187 0 0 0 15,187 93 0 15,094
2009 14,279 0 0 0 14,279 87 0 14,192
2010 13,425 0 0 0 13,425 82 0 13,343
2011 4,295 0 0 0 4,295 26 0 4,269
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 138,890 0 0 0 138,890 847 0 138,043
REMAIN 0 0 0 0 0 0 0 0
TOTAL 138,890 0 0 0 138,890 847 0 138,043
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 12,696 0 0 0 12,696 7,846 7,846 7,478
2004 12,696 0 0 0 12,696 6,618 14,464 5,710
2005 12,696 0 0 0 12,696 5,465 19,929 4,270
2006 12,696 0 0 0 12,696 4,378 24,307 3,097
2007 12,696 0 0 0 12,696 3,358 27,665 2,151
2008 12,696 0 0 0 12,696 2,398 30,063 1,392
2009 12,696 0 0 0 12,696 1,496 31,559 787
2010 12,696 0 0 0 12,696 647 32,206 310
2011 4,232 0 0 0 4,232 37 32,243 16
2012 0 0 0 0 0 0 32,243 0
2013 0 0 0 0 0 0 32,243 0
2014 0 0 0 0 0 0 32,243 0
2015 0 0 0 0 0 0 32,243 0
2016 0 0 0 0 0 0 32,243 0
2017 0 0 0 0 0 0 32,243 0
SUBTOT 105,800 0 0 0 105,800 32,243 25,211
REMAIN 0 0 0 0 0 0 32,243 0
TOTAL 105,800 0 0 0 105,800 32,243 25,211
LIFE OF EVALUATION IS 8.33 YEARS.
FINAL PRODUCTION RATE: 51 BBLS/MO
TENGASCO, INC. TABLE 37
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
FICKEN FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R18W PROVED
SCHWINDT FARMS #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 19,824 0 0
ULTIMATE 19,824 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 38
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GATES NORTH FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T21S-R13W PROVED
HOFFMAN #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.687500 5.00% - 0
FINAL - 0.687500 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 56,111 0 0
ULTIMATE 56,111 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 39
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GATES NORTH FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T21S-R13W PROVED
SCHULZ LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.687500 0.554449 27.29 5.00% - 58,437
FINAL - 0.687500 0.554449 27.29 10.00% - 50,048
REMARKS - 15.00% - 43,485
20.00% - 38,268
25.00% - 34,061
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 2,375 0 0 1,317 0 0.000 27.29 0.00
2004 2 2,280 0 0 1,264 0 0.000 27.29 0.00
2005 2 2,189 0 0 1,214 0 0.000 27.29 0.00
2006 2 2,102 0 0 1,165 0 0.000 27.29 0.00
2007 2 2,017 0 0 1,118 0 0.000 27.29 0.00
2008 2 1,937 0 0 1,074 0 0.000 27.29 0.00
2009 2 1,859 0 0 1,031 0 0.000 27.29 0.00
2010 2 1,785 0 0 990 0 0.000 27.29 0.00
2011 2 1,713 0 0 950 0 0.000 27.29 0.00
2012 2 1,645 0 0 912 0 0.000 27.29 0.00
2013 2 1,579 0 0 875 0 0.000 27.29 0.00
2014 2 385 0 0 214 0 0.000 27.29 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 21,866 0 0 12,124 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 21,866 0 0 12,124 0 0.000 27.29 0.00
CUMULATIVE 266,028 0 0
ULTIMATE 287,894 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 35,939 0 0 0 35,939 219 0 35,720
2004 34,501 0 0 0 34,501 211 0 34,290
2005 33,121 0 0 0 33,121 202 0 32,919
2006 31,797 0 0 0 31,797 194 0 31,603
2007 30,524 0 0 0 30,524 186 0 30,338
2008 29,304 0 0 0 29,304 179 0 29,125
2009 28,131 0 0 0 28,131 171 0 27,960
2010 27,006 0 0 0 27,006 165 0 26,841
2011 25,926 0 0 0 25,926 158 0 25,768
2012 24,889 0 0 0 24,889 152 0 24,737
2013 23,893 0 0 0 23,893 146 0 23,747
2014 5,823 0 0 0 5,823 35 0 5,788
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 330,854 0 0 0 330,854 2,018 0 328,836
REMAIN 0 0 0 0 0 0 0 0
TOTAL 330,854 0 0 0 330,854 2,018 0 328,836
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 23,067 0 0 0 23,067 12,653 12,653 12,055
2004 23,067 0 0 0 23,067 11,223 23,876 9,679
2005 23,067 0 0 0 23,067 9,852 33,728 7,693
2006 23,067 0 0 0 23,067 8,536 42,264 6,034
2007 23,067 0 0 0 23,067 7,271 49,535 4,653
2008 23,067 0 0 0 23,067 6,058 55,593 3,510
2009 23,067 0 0 0 23,067 4,893 60,486 2,568
2010 23,067 0 0 0 23,067 3,774 64,260 1,793
2011 23,067 0 0 0 23,067 2,701 66,961 1,163
2012 23,067 0 0 0 23,067 1,670 68,631 651
2013 23,067 0 0 0 23,067 680 69,311 242
2014 5,767 0 0 0 5,767 21 69,332 7
2015 0 0 0 0 0 0 69,332 0
2016 0 0 0 0 0 0 69,332 0
2017 0 0 0 0 0 0 69,332 0
SUBTOT 259,504 0 0 0 259,504 69,332 50,048
REMAIN 0 0 0 0 0 0 69,332 0
TOTAL 259,504 0 0 0 259,504 69,332 50,048
LIFE OF EVALUATION IS 11.25 YEARS.
FINAL PRODUCTION RATE: 128 BBLS/MO
TENGASCO, INC. TABLE 40
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GIESICK FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R17W PROVED
GIESICK #2 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 180,569
FINAL - 1.000000 0.875000 4.13 10.00% - 117,745
REMARKS - 15.00% - 86,409
20.00% - 68,132
25.00% - 56,245
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 5 0 0 4.153 0.00 4.13
2004 1 0 0 5 0 0 4.028 0.00 4.13
2005 1 0 0 5 0 0 3.907 0.00 4.13
2006 1 0 0 5 0 0 3.790 0.00 4.13
2007 1 0 0 4 0 0 3.676 0.00 4.13
2008 1 0 0 5 0 0 3.566 0.00 4.13
2009 1 0 0 4 0 0 3.459 0.00 4.13
2010 1 0 0 4 0 0 3.355 0.00 4.13
2011 1 0 0 4 0 0 3.255 0.00 4.13
2012 1 0 0 4 0 0 3.157 0.00 4.13
2013 1 0 0 4 0 0 3.062 0.00 4.13
2014 1 0 0 4 0 0 2.970 0.00 4.13
2015 1 0 0 3 0 0 2.881 0.00 4.13
2016 1 0 0 4 0 0 2.795 0.00 4.13
2017 1 0 0 3 0 0 2.711 0.00 4.13
SUB-TOTAL 0 0 63 0 0 50.765 0.00 4.13
REMAINDER 0 0 55 0 0 44.150 0.00 4.13
TOTAL 0 0 118 0 0 94.915 0.00 4.13
CUMULATIVE 0 0 438 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 556 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 17,150 0 17,150 0 305 16,845
2004 0 0 16,636 0 16,636 0 296 16,340
2005 0 0 16,136 0 16,136 0 288 15,848
2006 0 0 15,652 0 15,652 0 278 15,374
2007 0 0 15,183 0 15,183 0 270 14,913
2008 0 0 14,727 0 14,727 0 263 14,464
2009 0 0 14,286 0 14,286 0 254 14,032
2010 0 0 13,857 0 13,857 0 247 13,610
2011 0 0 13,441 0 13,441 0 239 13,202
2012 0 0 13,038 0 13,038 0 232 12,806
2013 0 0 12,647 0 12,647 0 225 12,422
2014 0 0 12,267 0 12,267 0 218 12,049
2015 0 0 11,900 0 11,900 0 212 11,688
2016 0 0 11,542 0 11,542 0 206 11,336
2017 0 0 11,196 0 11,196 0 199 10,997
SUB-TOT 0 0 209,658 0 209,658 0 3,732 205,926
REMAIN 0 0 182,342 0 182,342 0 3,246 179,096
TOTAL 0 0 392,000 0 392,000 0 6,978 385,022
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,313 0 0 0 1,313 15,532 15,532 14,788
2004 1,313 0 0 0 1,313 15,027 30,559 12,950
2005 1,312 0 0 0 1,312 14,536 45,095 11,340
2006 1,310 0 0 0 1,310 14,064 59,159 9,932
2007 1,310 0 0 0 1,310 13,603 72,762 8,696
2008 1,310 0 0 0 1,310 13,154 85,916 7,612
2009 1,308 0 0 0 1,308 12,724 98,640 6,665
2010 1,308 0 0 0 1,308 12,302 110,942 5,833
2011 1,307 0 0 0 1,307 11,895 122,837 5,106
2012 1,306 0 0 0 1,306 11,500 134,337 4,468
2013 1,306 0 0 0 1,306 11,116 145,453 3,909
2014 1,305 0 0 0 1,305 10,744 156,197 3,421
2015 1,304 0 0 0 1,304 10,384 166,581 2,992
2016 1,304 0 0 0 1,304 10,032 176,613 2,618
2017 1,303 0 0 0 1,303 9,694 186,307 2,289
SUBTOT 19,619 0 0 0 19,619 186,307 102,619
REMAIN 29,845 0 0 0 29,845 149,251 335,558 15,126
TOTAL 49,464 0 0 0 49,464 335,558 117,745
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 41
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
GOTTSCHALK FIELD, ELLIS COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 36-T15S-R18W PROVED
WERTH #1 (OREAD & TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 180
ULTIMATE 0 0 180
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 42
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HERMAN FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T16S-R14W PROVED
H. KARST LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.812500 0.702051 27.29 5.00% - 1,415
FINAL - 0.812500 0.702051 27.29 10.00% - 1,370
REMARKS - 15.00% - 1,329
20.00% - 1,289
25.00% - 1,251
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 999 0 0 702 0 0.000 27.29 0.00
2004 2 960 0 0 673 0 0.000 27.29 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 1,959 0 0 1,375 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 1,959 0 0 1,375 0 0.000 27.29 0.00
CUMULATIVE 32,570 0 0
ULTIMATE 34,529 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 19,149 0 0 0 19,149 117 0 19,032
2004 18,382 0 0 0 18,382 112 0 18,270
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 37,531 0 0 0 37,531 229 0 37,302
REMAIN 0 0 0 0 0 0 0 0
TOTAL 37,531 0 0 0 37,531 229 0 37,302
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 17,921 0 0 0 17,921 1,111 1,111 1,064
2004 17,920 0 0 0 17,920 350 1,461 306
2005 0 0 0 0 0 0 1,461 0
2006 0 0 0 0 0 0 1,461 0
2007 0 0 0 0 0 0 1,461 0
2008 0 0 0 0 0 0 1,461 0
2009 0 0 0 0 0 0 1,461 0
2010 0 0 0 0 0 0 1,461 0
2011 0 0 0 0 0 0 1,461 0
2012 0 0 0 0 0 0 1,461 0
2013 0 0 0 0 0 0 1,461 0
2014 0 0 0 0 0 0 1,461 0
2015 0 0 0 0 0 0 1,461 0
2016 0 0 0 0 0 0 1,461 0
2017 0 0 0 0 0 0 1,461 0
SUBTOT 35,841 0 0 0 35,841 1,461 1,370
REMAIN 0 0 0 0 0 0 1,461 0
TOTAL 35,841 0 0 0 35,841 1,461 1,370
LIFE OF EVALUATION IS 2.00 YEARS.
FINAL PRODUCTION RATE: 78 BBLS/MO
TENGASCO, INC. TABLE 43
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HOBROCK FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 3-T10S-R15W PROVED
HOBROCK #4 (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.593750 0.481947 27.29 5.00% - 26,456
FINAL - 0.593750 0.481947 27.29 10.00% - 21,534
REMARKS - 15.00% - 18,008
20.00% - 15,400
25.00% - 13,414
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 547 0 0 264 0 0.000 27.29 0.00
2004 1 514 0 0 247 0 0.000 27.29 0.00
2005 1 483 0 0 233 0 0.000 27.29 0.00
2006 1 454 0 0 219 0 0.000 27.29 0.00
2007 1 427 0 0 206 0 0.000 27.29 0.00
2008 1 402 0 0 193 0 0.000 27.29 0.00
2009 1 377 0 0 182 0 0.000 27.29 0.00
2010 1 355 0 0 171 0 0.000 27.29 0.00
2011 1 333 0 0 161 0 0.000 27.29 0.00
2012 1 314 0 0 151 0 0.000 27.29 0.00
2013 1 294 0 0 142 0 0.000 27.29 0.00
2014 1 277 0 0 133 0 0.000 27.29 0.00
2015 1 260 0 0 126 0 0.000 27.29 0.00
2016 1 245 0 0 118 0 0.000 27.29 0.00
2017 1 230 0 0 110 0 0.000 27.29 0.00
SUB-TOTAL 5,512 0 0 2,656 0 0.000 27.29 0.00
REMAINDER 403 0 0 195 0 0.000 27.29 0.00
TOTAL 5,915 0 0 2,851 0 0.000 27.29 0.00
CUMULATIVE 58,038 0 0
ULTIMATE 63,953 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 7,193 0 0 0 7,193 44 0 7,149
2004 6,762 0 0 0 6,762 41 0 6,721
2005 6,355 0 0 0 6,355 39 0 6,316
2006 5,975 0 0 0 5,975 36 0 5,939
2007 5,616 0 0 0 5,616 35 0 5,581
2008 5,279 0 0 0 5,279 32 0 5,247
2009 4,962 0 0 0 4,962 30 0 4,932
2010 4,665 0 0 0 4,665 29 0 4,636
2011 4,384 0 0 0 4,384 26 0 4,358
2012 4,122 0 0 0 4,122 25 0 4,097
2013 3,874 0 0 0 3,874 24 0 3,850
2014 3,642 0 0 0 3,642 22 0 3,620
2015 3,423 0 0 0 3,423 21 0 3,402
2016 3,218 0 0 0 3,218 20 0 3,198
2017 3,025 0 0 0 3,025 18 0 3,007
SUB-TOT 72,495 0 0 0 72,495 442 0 72,053
REMAIN 5,300 0 0 0 5,300 33 0 5,267
TOTAL 77,795 0 0 0 77,795 475 0 77,320
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,586 0 0 0 2,586 4,563 4,563 4,347
2004 2,587 0 0 0 2,587 4,134 8,697 3,564
2005 2,586 0 0 0 2,586 3,730 12,427 2,912
2006 2,587 0 0 0 2,587 3,352 15,779 2,369
2007 2,586 0 0 0 2,586 2,995 18,774 1,916
2008 2,586 0 0 0 2,586 2,661 21,435 1,541
2009 2,587 0 0 0 2,587 2,345 23,780 1,229
2010 2,586 0 0 0 2,586 2,050 25,830 973
2011 2,586 0 0 0 2,586 1,772 27,602 761
2012 2,587 0 0 0 2,587 1,510 29,112 587
2013 2,586 0 0 0 2,586 1,264 30,376 446
2014 2,587 0 0 0 2,587 1,033 31,409 329
2015 2,586 0 0 0 2,586 816 32,225 236
2016 2,586 0 0 0 2,586 612 32,837 160
2017 2,587 0 0 0 2,587 420 33,257 99
SUBTOT 38,796 0 0 0 38,796 33,257 21,469
REMAIN 4,957 0 0 0 4,957 310 33,567 65
TOTAL 43,753 0 0 0 43,753 33,567 21,534
LIFE OF EVALUATION IS 16.92 YEARS.
FINAL PRODUCTION RATE: 17 BBLS/MO
TENGASCO, INC. TABLE 44
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
HOBROCK FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T10S-R15W PROVED
HOGAN LEASE (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.593750 0.480972 27.29 5.00% - 70,508
FINAL - 0.593750 0.480972 27.29 10.00% - 63,903
REMARKS - 15.00% - 58,235
20.00% - 53,345
25.00% - 49,104
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 2,786 0 0 1,340 0 0.000 27.29 0.00
2004 3 2,456 0 0 1,181 0 0.000 27.29 0.00
2005 3 2,168 0 0 1,043 0 0.000 27.29 0.00
2006 3 1,911 0 0 919 0 0.000 27.29 0.00
2007 3 1,686 0 0 811 0 0.000 27.29 0.00
2008 3 831 0 0 400 0 0.000 27.29 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 11,838 0 0 5,694 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 11,838 0 0 5,694 0 0.000 27.29 0.00
CUMULATIVE 196,208 0 0
ULTIMATE 208,046 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 36,562 0 0 0 36,562 223 0 36,339
2004 32,249 0 0 0 32,249 197 0 32,052
2005 28,445 0 0 0 28,445 173 0 28,272
2006 25,089 0 0 0 25,089 153 0 24,936
2007 22,130 0 0 0 22,130 135 0 21,995
2008 10,907 0 0 0 10,907 67 0 10,840
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 155,382 0 0 0 155,382 948 0 154,434
REMAIN 0 0 0 0 0 0 0 0
TOTAL 155,382 0 0 0 155,382 948 0 154,434
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 13,744 0 0 0 13,744 22,595 22,595 21,542
2004 13,744 0 0 0 13,744 18,308 40,903 15,803
2005 13,744 0 0 0 13,744 14,528 55,431 11,353
2006 13,745 0 0 0 13,745 11,191 66,622 7,919
2007 13,744 0 0 0 13,744 8,251 74,873 5,288
2008 7,466 0 0 0 7,466 3,374 78,247 1,998
2009 0 0 0 0 0 0 78,247 0
2010 0 0 0 0 0 0 78,247 0
2011 0 0 0 0 0 0 78,247 0
2012 0 0 0 0 0 0 78,247 0
2013 0 0 0 0 0 0 78,247 0
2014 0 0 0 0 0 0 78,247 0
2015 0 0 0 0 0 0 78,247 0
2016 0 0 0 0 0 0 78,247 0
2017 0 0 0 0 0 0 78,247 0
SUBTOT 76,187 0 0 0 76,187 78,247 63,903
REMAIN 0 0 0 0 0 0 78,247 0
TOTAL 76,187 0 0 0 76,187 78,247 63,903
LIFE OF EVALUATION IS 5.54 YEARS.
FINAL PRODUCTION RATE: 124 BBLS/MO
TENGASCO, INC. TABLE 45
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
IRVIN FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T14S-R19W PROVED
KINDERKNECHT -B- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 67
FINAL - 1.000000 0.875000 27.29 10.00% - 66
REMARKS - 15.00% - 66
20.00% - 66
25.00% - 65
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 501 0 0 438 0 0.000 27.29 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 501 0 0 438 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 501 0 0 438 0 0.000 27.29 0.00
CUMULATIVE 137,056 0 0
ULTIMATE 137,557 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 11,964 0 0 0 11,964 73 0 11,891
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 11,964 0 0 0 11,964 73 0 11,891
REMAIN 0 0 0 0 0 0 0 0
TOTAL 11,964 0 0 0 11,964 73 0 11,891
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,824 0 0 0 11,824 67 67 66
2004 0 0 0 0 0 0 67 0
2005 0 0 0 0 0 0 67 0
2006 0 0 0 0 0 0 67 0
2007 0 0 0 0 0 0 67 0
2008 0 0 0 0 0 0 67 0
2009 0 0 0 0 0 0 67 0
2010 0 0 0 0 0 0 67 0
2011 0 0 0 0 0 0 67 0
2012 0 0 0 0 0 0 67 0
2013 0 0 0 0 0 0 67 0
2014 0 0 0 0 0 0 67 0
2015 0 0 0 0 0 0 67 0
2016 0 0 0 0 0 0 67 0
2017 0 0 0 0 0 0 67 0
SUBTOT 11,824 0 0 0 11,824 67 66
REMAIN 0 0 0 0 0 0 67 0
TOTAL 11,824 0 0 0 11,824 67 66
LIFE OF EVALUATION IS 0.33 YEARS.
FINAL PRODUCTION RATE: 125 BBLS/MO
TENGASCO, INC. TABLE 46
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T14S-R19W PROVED
KRAUS -A- LEASE PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820310 27.29 5.00% - 851,515
FINAL - 1.000000 0.820310 27.29 10.00% - 615,354
REMARKS - 15.00% - 478,078
20.00% - 389,952
25.00% - 329,055
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 5,287 0 0 4,337 0 0.000 27.29 0.00
2004 3 5,023 0 0 4,120 0 0.000 27.29 0.00
2005 3 4,772 0 0 3,915 0 0.000 27.29 0.00
2006 3 4,533 0 0 3,718 0 0.000 27.29 0.00
2007 3 4,306 0 0 3,533 0 0.000 27.29 0.00
2008 3 4,092 0 0 3,356 0 0.000 27.29 0.00
2009 3 3,886 0 0 3,188 0 0.000 27.29 0.00
2010 3 3,693 0 0 3,029 0 0.000 27.29 0.00
2011 3 3,507 0 0 2,877 0 0.000 27.29 0.00
2012 3 3,332 0 0 2,734 0 0.000 27.29 0.00
2013 3 3,166 0 0 2,597 0 0.000 27.29 0.00
2014 3 3,008 0 0 2,467 0 0.000 27.29 0.00
2015 3 2,857 0 0 2,343 0 0.000 27.29 0.00
2016 3 2,714 0 0 2,227 0 0.000 27.29 0.00
2017 3 2,578 0 0 2,115 0 0.000 27.29 0.00
SUB-TOTAL 56,754 0 0 46,556 0 0.000 27.29 0.00
REMAINDER 32,729 0 0 26,848 0 0.000 27.29 0.00
TOTAL 89,483 0 0 73,404 0 0.000 27.29 0.00
CUMULATIVE 346,204 0 0
ULTIMATE 435,687 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 118,362 0 0 0 118,362 722 0 117,640
2004 112,443 0 0 0 112,443 686 0 111,757
2005 106,821 0 0 0 106,821 652 0 106,169
2006 101,481 0 0 0 101,481 619 0 100,862
2007 96,406 0 0 0 96,406 588 0 95,818
2008 91,586 0 0 0 91,586 558 0 91,028
2009 87,006 0 0 0 87,006 531 0 86,475
2010 82,657 0 0 0 82,657 504 0 82,153
2011 78,523 0 0 0 78,523 479 0 78,044
2012 74,597 0 0 0 74,597 455 0 74,142
2013 70,868 0 0 0 70,868 433 0 70,435
2014 67,324 0 0 0 67,324 410 0 66,914
2015 63,958 0 0 0 63,958 390 0 63,568
2016 60,760 0 0 0 60,760 371 0 60,389
2017 57,722 0 0 0 57,722 352 0 57,370
SUB-TOT 1,270,514 0 0 0 1,270,514 7,750 0 1,262,764
REMAIN 732,674 0 0 0 732,674 4,469 0 728,205
TOTAL 2,003,188 0 0 0 2,003,188 12,219 0 1,990,969
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 18,540 0 0 0 18,540 99,100 99,100 94,372
2004 18,540 0 0 0 18,540 93,217 192,317 80,356
2005 18,540 0 0 0 18,540 87,629 279,946 68,380
2006 18,540 0 0 0 18,540 82,322 362,268 58,149
2007 18,540 0 0 0 18,540 77,278 439,546 49,413
2008 18,540 0 0 0 18,540 72,488 512,034 41,957
2009 18,540 0 0 0 18,540 67,935 579,969 35,594
2010 18,540 0 0 0 18,540 63,613 643,582 30,171
2011 18,540 0 0 0 18,540 59,504 703,086 25,548
2012 18,540 0 0 0 18,540 55,602 758,688 21,609
2013 18,540 0 0 0 18,540 51,895 810,583 18,257
2014 18,540 0 0 0 18,540 48,374 858,957 15,406
2015 18,540 0 0 0 18,540 45,028 903,985 12,980
2016 18,540 0 0 0 18,540 41,849 945,834 10,921
2017 18,540 0 0 0 18,540 38,830 984,664 9,173
SUBTOT 278,100 0 0 0 278,100 984,664 572,286
REMAIN 398,610 0 0 0 398,610 329,595 1,314,259 43,068
TOTAL 676,710 0 0 0 676,710 1,314,259 615,354
LIFE OF EVALUATION IS 36.50 YEARS.
FINAL PRODUCTION RATE: 70 BBLS/MO
TENGASCO, INC. TABLE 47
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T14S-R19W PROVED
KRAUS -B- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 109,508
FINAL - 1.000000 0.875000 27.29 10.00% - 88,098
REMARKS - 15.00% - 73,176
20.00% - 62,351
25.00% - 54,220
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,203 0 0 1,053 0 0.000 27.29 0.00
2004 2 1,120 0 0 979 0 0.000 27.29 0.00
2005 2 1,044 0 0 914 0 0.000 27.29 0.00
2006 2 977 0 0 855 0 0.000 27.29 0.00
2007 2 916 0 0 801 0 0.000 27.29 0.00
2008 2 859 0 0 752 0 0.000 27.29 0.00
2009 2 809 0 0 708 0 0.000 27.29 0.00
2010 2 762 0 0 667 0 0.000 27.29 0.00
2011 2 720 0 0 630 0 0.000 27.29 0.00
2012 2 681 0 0 596 0 0.000 27.29 0.00
2013 2 645 0 0 564 0 0.000 27.29 0.00
2014 2 611 0 0 535 0 0.000 27.29 0.00
2015 2 581 0 0 508 0 0.000 27.29 0.00
2016 2 552 0 0 483 0 0.000 27.29 0.00
2017 2 526 0 0 461 0 0.000 27.29 0.00
SUB-TOTAL 12,006 0 0 10,506 0 0.000 27.29 0.00
REMAINDER 2,121 0 0 1,855 0 0.000 27.29 0.00
TOTAL 14,127 0 0 12,361 0 0.000 27.29 0.00
CUMULATIVE 98,630 0 0
ULTIMATE 112,757 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 28,730 0 0 0 28,730 175 0 28,555
2004 26,736 0 0 0 26,736 163 0 26,573
2005 24,943 0 0 0 24,943 152 0 24,791
2006 23,326 0 0 0 23,326 143 0 23,183
2007 21,859 0 0 0 21,859 133 0 21,726
2008 20,527 0 0 0 20,527 125 0 20,402
2009 19,314 0 0 0 19,314 118 0 19,196
2010 18,204 0 0 0 18,204 111 0 18,093
2011 17,189 0 0 0 17,189 105 0 17,084
2012 16,254 0 0 0 16,254 99 0 16,155
2013 15,395 0 0 0 15,395 94 0 15,301
2014 14,603 0 0 0 14,603 89 0 14,514
2015 13,868 0 0 0 13,868 85 0 13,783
2016 13,190 0 0 0 13,190 80 0 13,110
2017 12,559 0 0 0 12,559 77 0 12,482
SUB-TOT 286,697 0 0 0 286,697 1,749 0 284,948
REMAIN 50,636 0 0 0 50,636 309 0 50,327
TOTAL 337,333 0 0 0 337,333 2,058 0 335,275
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,888 0 0 0 9,888 18,667 18,667 17,784
2004 9,888 0 0 0 9,888 16,685 35,352 14,389
2005 9,888 0 0 0 9,888 14,903 50,255 11,634
2006 9,888 0 0 0 9,888 13,295 63,550 9,395
2007 9,888 0 0 0 9,888 11,838 75,388 7,573
2008 9,888 0 0 0 9,888 10,514 85,902 6,088
2009 9,888 0 0 0 9,888 9,308 95,210 4,880
2010 9,888 0 0 0 9,888 8,205 103,415 3,893
2011 9,888 0 0 0 9,888 7,196 110,611 3,091
2012 9,888 0 0 0 9,888 6,267 116,878 2,437
2013 9,888 0 0 0 9,888 5,413 122,291 1,906
2014 9,888 0 0 0 9,888 4,626 126,917 1,474
2015 9,888 0 0 0 9,888 3,895 130,812 1,124
2016 9,888 0 0 0 9,888 3,222 134,034 842
2017 9,888 0 0 0 9,888 2,594 136,628 614
SUBTOT 148,320 0 0 0 148,320 136,628 87,124
REMAIN 45,320 0 0 0 45,320 5,007 141,635 974
TOTAL 193,640 0 0 0 193,640 141,635 88,098
LIFE OF EVALUATION IS 19.58 YEARS.
FINAL PRODUCTION RATE: 35 BBLS/MO
TENGASCO, INC. TABLE 48
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
KRAUS FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 27-T14S-R19W PROVED
KRAUS -I- LEASE (ABCK-KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 128,733
FINAL - 1.000000 0.820313 27.29 10.00% - 108,867
REMARKS - 15.00% - 93,755
20.00% - 82,014
25.00% - 72,710
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 2,206 0 0 1,809 0 0.000 27.29 0.00
2004 2 2,045 0 0 1,678 0 0.000 27.29 0.00
2005 2 1,902 0 0 1,560 0 0.000 27.29 0.00
2006 2 1,773 0 0 1,455 0 0.000 27.29 0.00
2007 2 1,657 0 0 1,359 0 0.000 27.29 0.00
2008 2 1,552 0 0 1,273 0 0.000 27.29 0.00
2009 2 1,456 0 0 1,194 0 0.000 27.29 0.00
2010 2 1,369 0 0 1,124 0 0.000 27.29 0.00
2011 2 1,290 0 0 1,058 0 0.000 27.29 0.00
2012 2 1,218 0 0 999 0 0.000 27.29 0.00
2013 2 1,151 0 0 944 0 0.000 27.29 0.00
2014 2 1,089 0 0 894 0 0.000 27.29 0.00
2015 2 1,033 0 0 847 0 0.000 27.29 0.00
2016 2 497 0 0 407 0 0.000 27.29 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 20,238 0 0 16,601 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 20,238 0 0 16,601 0 0.000 27.29 0.00
CUMULATIVE 208,702 0 0
ULTIMATE 228,940 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 49,375 0 0 0 49,375 301 0 49,074
2004 45,787 0 0 0 45,787 279 0 45,508
2005 42,577 0 0 0 42,577 260 0 42,317
2006 39,692 0 0 0 39,692 242 0 39,450
2007 37,092 0 0 0 37,092 227 0 36,865
2008 34,738 0 0 0 34,738 211 0 34,527
2009 32,602 0 0 0 32,602 199 0 32,403
2010 30,657 0 0 0 30,657 187 0 30,470
2011 28,881 0 0 0 28,881 177 0 28,704
2012 27,255 0 0 0 27,255 166 0 27,089
2013 25,763 0 0 0 25,763 157 0 25,606
2014 24,389 0 0 0 24,389 149 0 24,240
2015 23,123 0 0 0 23,123 141 0 22,982
2016 11,117 0 0 0 11,117 68 0 11,049
2017 0 0 0 0 0 0 0 0
SUB-TOT 453,048 0 0 0 453,048 2,764 0 450,284
REMAIN 0 0 0 0 0 0 0 0
TOTAL 453,048 0 0 0 453,048 2,764 0 450,284
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 21,840 0 0 0 21,840 27,234 27,234 25,951
2004 21,840 0 0 0 21,840 23,668 50,902 20,417
2005 21,840 0 0 0 21,840 20,477 71,379 15,990
2006 21,840 0 0 0 21,840 17,610 88,989 12,448
2007 21,840 0 0 0 21,840 15,025 104,014 9,615
2008 21,840 0 0 0 21,840 12,687 116,701 7,350
2009 21,840 0 0 0 21,840 10,563 127,264 5,540
2010 21,840 0 0 0 21,840 8,630 135,894 4,098
2011 21,840 0 0 0 21,840 6,864 142,758 2,952
2012 21,840 0 0 0 21,840 5,249 148,007 2,044
2013 21,840 0 0 0 21,840 3,766 151,773 1,328
2014 21,840 0 0 0 21,840 2,400 154,173 767
2015 21,840 0 0 0 21,840 1,142 155,315 332
2016 10,920 0 0 0 10,920 129 155,444 35
2017 0 0 0 0 0 0 155,444 0
SUBTOT 294,840 0 0 0 294,840 155,444 108,867
REMAIN 0 0 0 0 0 0 155,444 0
TOTAL 294,840 0 0 0 294,840 155,444 108,867
LIFE OF EVALUATION IS 13.50 YEARS.
FINAL PRODUCTION RATE: 82 BBLS/MO
TENGASCO, INC. TABLE 49
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LEIKER EAST FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 14-T15S-R18W PROVED
LEIKER #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.416670 0.364590 27.29 5.00% - 36,077
FINAL - 0.416670 0.364590 27.29 10.00% - 28,470
REMARKS - 15.00% - 23,288
20.00% - 19,602
25.00% - 16,879
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 878 0 0 320 0 0.000 27.29 0.00
2004 1 835 0 0 304 0 0.000 27.29 0.00
2005 1 793 0 0 290 0 0.000 27.29 0.00
2006 1 755 0 0 275 0 0.000 27.29 0.00
2007 1 718 0 0 262 0 0.000 27.29 0.00
2008 1 683 0 0 249 0 0.000 27.29 0.00
2009 1 649 0 0 236 0 0.000 27.29 0.00
2010 1 618 0 0 226 0 0.000 27.29 0.00
2011 1 587 0 0 214 0 0.000 27.29 0.00
2012 1 559 0 0 203 0 0.000 27.29 0.00
2013 1 531 0 0 194 0 0.000 27.29 0.00
2014 1 505 0 0 184 0 0.000 27.29 0.00
2015 1 480 0 0 175 0 0.000 27.29 0.00
2016 1 457 0 0 167 0 0.000 27.29 0.00
2017 1 434 0 0 158 0 0.000 27.29 0.00
SUB-TOTAL 9,482 0 0 3,457 0 0.000 27.29 0.00
REMAINDER 1,928 0 0 703 0 0.000 27.29 0.00
TOTAL 11,410 0 0 4,160 0 0.000 27.29 0.00
CUMULATIVE 26,941 0 0
ULTIMATE 38,351 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 8,733 0 0 0 8,733 53 0 8,680
2004 8,306 0 0 0 8,306 51 0 8,255
2005 7,899 0 0 0 7,899 48 0 7,851
2006 7,511 0 0 0 7,511 46 0 7,465
2007 7,144 0 0 0 7,144 44 0 7,100
2008 6,793 0 0 0 6,793 41 0 6,752
2009 6,461 0 0 0 6,461 39 0 6,422
2010 6,144 0 0 0 6,144 38 0 6,106
2011 5,842 0 0 0 5,842 35 0 5,807
2012 5,557 0 0 0 5,557 34 0 5,523
2013 5,284 0 0 0 5,284 33 0 5,251
2014 5,026 0 0 0 5,026 30 0 4,996
2015 4,779 0 0 0 4,779 29 0 4,750
2016 4,545 0 0 0 4,545 28 0 4,517
2017 4,322 0 0 0 4,322 27 0 4,295
SUB-TOT 94,346 0 0 0 94,346 576 0 93,770
REMAIN 19,179 0 0 0 19,179 117 0 19,062
TOTAL 113,525 0 0 0 113,525 693 0 112,832
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,225 0 0 0 3,225 5,455 5,455 5,196
2004 3,225 0 0 0 3,225 5,030 10,485 4,336
2005 3,225 0 0 0 3,225 4,626 15,111 3,611
2006 3,225 0 0 0 3,225 4,240 19,351 2,995
2007 3,225 0 0 0 3,225 3,875 23,226 2,479
2008 3,225 0 0 0 3,225 3,527 26,753 2,042
2009 3,225 0 0 0 3,225 3,197 29,950 1,675
2010 3,225 0 0 0 3,225 2,881 32,831 1,367
2011 3,225 0 0 0 3,225 2,582 35,413 1,109
2012 3,225 0 0 0 3,225 2,298 37,711 894
2013 3,225 0 0 0 3,225 2,026 39,737 713
2014 3,225 0 0 0 3,225 1,771 41,508 564
2015 3,225 0 0 0 3,225 1,525 43,033 440
2016 3,225 0 0 0 3,225 1,292 44,325 337
2017 3,225 0 0 0 3,225 1,070 45,395 253
SUBTOT 48,375 0 0 0 48,375 45,395 28,011
REMAIN 16,663 0 0 0 16,663 2,399 47,794 459
TOTAL 65,038 0 0 0 65,038 47,794 28,470
LIFE OF EVALUATION IS 20.17 YEARS.
FINAL PRODUCTION RATE: 27 BBLS/MO
TENGASCO, INC. TABLE 50
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LEONHARDT SOUTHEAST FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T14S-R18W PROVED
KRAUS LEASE (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.792969 27.29 5.00% - 8,719
FINAL - 1.000000 0.792969 27.29 10.00% - 8,125
REMARKS - 15.00% - 7,594
20.00% - 7,118
25.00% - 6,690
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 899 0 0 713 0 0.000 27.29 0.00
2004 2 851 0 0 675 0 0.000 27.29 0.00
2005 2 808 0 0 640 0 0.000 27.29 0.00
2006 2 767 0 0 609 0 0.000 27.29 0.00
2007 2 491 0 0 389 0 0.000 27.29 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 3,816 0 0 3,026 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 3,816 0 0 3,026 0 0.000 27.29 0.00
CUMULATIVE 52,987 0 0
ULTIMATE 56,803 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 19,451 0 0 0 19,451 119 0 19,332
2004 18,422 0 0 0 18,422 112 0 18,310
2005 17,477 0 0 0 17,477 107 0 17,370
2006 16,607 0 0 0 16,607 101 0 16,506
2007 10,621 0 0 0 10,621 65 0 10,556
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 82,578 0 0 0 82,578 504 0 82,074
REMAIN 0 0 0 0 0 0 0 0
TOTAL 82,578 0 0 0 82,578 504 0 82,074
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 15,576 0 0 0 15,576 3,756 3,756 3,583
2004 15,576 0 0 0 15,576 2,734 6,490 2,363
2005 15,576 0 0 0 15,576 1,794 8,284 1,405
2006 15,576 0 0 0 15,576 930 9,214 661
2007 10,384 0 0 0 10,384 172 9,386 113
2008 0 0 0 0 0 0 9,386 0
2009 0 0 0 0 0 0 9,386 0
2010 0 0 0 0 0 0 9,386 0
2011 0 0 0 0 0 0 9,386 0
2012 0 0 0 0 0 0 9,386 0
2013 0 0 0 0 0 0 9,386 0
2014 0 0 0 0 0 0 9,386 0
2015 0 0 0 0 0 0 9,386 0
2016 0 0 0 0 0 0 9,386 0
2017 0 0 0 0 0 0 9,386 0
SUBTOT 72,688 0 0 0 72,688 9,386 8,125
REMAIN 0 0 0 0 0 0 9,386 0
TOTAL 72,688 0 0 0 72,688 9,386 8,125
LIFE OF EVALUATION IS 4.67 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 51
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T16S-R18W PROVED
DECHANT -B- #2 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 45
ULTIMATE 0 0 45
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 52
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T16S-R18W PROVED
GRAHAM #1 (KC-LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 128 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 128 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 53
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 26-T16S-R18W PROVED
LEGLEITER -B- #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 6,528
FINAL - 1.000000 0.875000 4.13 10.00% - 5,324
REMARKS - 15.00% - 4,453
20.00% - 3,805
25.00% - 3,310
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 1 0 0 0.737 0.00 4.13
2004 1 0 0 1 0 0 0.715 0.00 4.13
2005 1 0 0 1 0 0 0.694 0.00 4.13
2006 1 0 0 1 0 0 0.673 0.00 4.13
2007 1 0 0 0 0 0 0.653 0.00 4.13
2008 1 0 0 1 0 0 0.633 0.00 4.13
2009 1 0 0 1 0 0 0.614 0.00 4.13
2010 1 0 0 1 0 0 0.596 0.00 4.13
2011 1 0 0 0 0 0 0.578 0.00 4.13
2012 1 0 0 1 0 0 0.560 0.00 4.13
2013 1 0 0 1 0 0 0.544 0.00 4.13
2014 1 0 0 0 0 0 0.527 0.00 4.13
2015 1 0 0 1 0 0 0.511 0.00 4.13
2016 1 0 0 1 0 0 0.496 0.00 4.13
2017 1 0 0 0 0 0 0.481 0.00 4.13
SUB-TOTAL 0 0 11 0 0 9.012 0.00 4.13
REMAINDER 0 0 1 0 0 0.274 0.00 4.13
TOTAL 0 0 12 0 0 9.286 0.00 4.13
CUMULATIVE 0 0 31 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 43 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 3,045 0 3,045 0 54 2,991
2004 0 0 2,953 0 2,953 0 53 2,900
2005 0 0 2,864 0 2,864 0 51 2,813
2006 0 0 2,779 0 2,779 0 49 2,730
2007 0 0 2,695 0 2,695 0 48 2,647
2008 0 0 2,615 0 2,615 0 47 2,568
2009 0 0 2,536 0 2,536 0 45 2,491
2010 0 0 2,460 0 2,460 0 44 2,416
2011 0 0 2,386 0 2,386 0 42 2,344
2012 0 0 2,314 0 2,314 0 41 2,273
2013 0 0 2,245 0 2,245 0 40 2,205
2014 0 0 2,178 0 2,178 0 39 2,139
2015 0 0 2,113 0 2,113 0 38 2,075
2016 0 0 2,049 0 2,049 0 36 2,013
2017 0 0 1,987 0 1,987 0 36 1,951
SUB-TOT 0 0 37,219 0 37,219 0 663 36,556
REMAIN 0 0 1,132 0 1,132 0 20 1,112
TOTAL 0 0 38,351 0 38,351 0 683 37,668
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,889 0 0 0 1,889 1,102 1,102 1,050
2004 1,889 0 0 0 1,889 1,011 2,113 871
2005 1,889 0 0 0 1,889 924 3,037 721
2006 1,889 0 0 0 1,889 841 3,878 595
2007 1,889 0 0 0 1,889 758 4,636 485
2008 1,888 0 0 0 1,888 680 5,316 393
2009 1,888 0 0 0 1,888 603 5,919 316
2010 1,889 0 0 0 1,889 527 6,446 250
2011 1,888 0 0 0 1,888 456 6,902 196
2012 1,888 0 0 0 1,888 385 7,287 150
2013 1,888 0 0 0 1,888 317 7,604 112
2014 1,887 0 0 0 1,887 252 7,856 80
2015 1,888 0 0 0 1,888 187 8,043 54
2016 1,887 0 0 0 1,887 126 8,169 33
2017 1,888 0 0 0 1,888 63 8,232 15
SUBTOT 28,324 0 0 0 28,324 8,232 5,321
REMAIN 1,100 0 0 0 1,100 12 8,244 3
TOTAL 29,424 0 0 0 29,424 8,244 5,324
LIFE OF EVALUATION IS 15.58 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 54
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T16S-R18W PROVED
LEGLEITER -C- #1 (PLEASONTON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 15
ULTIMATE 0 0 15
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 55
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LIEBENTHAL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T16S-R18W PROVED
LEGLEITER -C- #2 (PLEASONTON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 3 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 3 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 56
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
LITTLE RIO FIELD, RICE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 19-T19S-R6W PROVED
WHITEMAN-HOLLAND LEASE (KSSC-LNSG-MSSP) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 171,375
FINAL - 1.000000 0.820313 27.29 10.00% - 135,168
REMARKS - 15.00% - 110,474
20.00% - 92,905
25.00% - 79,929
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 2,044 0 0 1,677 0 0.000 27.29 0.00
2004 3 1,958 0 0 1,606 0 0.000 27.29 0.00
2005 3 1,876 0 0 1,538 0 0.000 27.29 0.00
2006 3 1,797 0 0 1,475 0 0.000 27.29 0.00
2007 3 1,721 0 0 1,412 0 0.000 27.29 0.00
2008 3 1,649 0 0 1,353 0 0.000 27.29 0.00
2009 3 1,580 0 0 1,296 0 0.000 27.29 0.00
2010 3 1,514 0 0 1,241 0 0.000 27.29 0.00
2011 3 1,450 0 0 1,190 0 0.000 27.29 0.00
2012 3 1,389 0 0 1,139 0 0.000 27.29 0.00
2013 3 1,331 0 0 1,092 0 0.000 27.29 0.00
2014 3 1,275 0 0 1,046 0 0.000 27.29 0.00
2015 3 1,221 0 0 1,002 0 0.000 27.29 0.00
2016 3 1,170 0 0 959 0 0.000 27.29 0.00
2017 3 1,121 0 0 920 0 0.000 27.29 0.00
SUB-TOTAL 23,096 0 0 18,946 0 0.000 27.29 0.00
REMAINDER 4,788 0 0 3,928 0 0.000 27.29 0.00
TOTAL 27,884 0 0 22,874 0 0.000 27.29 0.00
CUMULATIVE 62,161 0 0
ULTIMATE 90,045 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 45,754 0 0 0 45,754 279 0 45,475
2004 43,832 0 0 0 43,832 267 0 43,565
2005 41,992 0 0 0 41,992 257 0 41,735
2006 40,228 0 0 0 40,228 245 0 39,983
2007 38,538 0 0 0 38,538 235 0 38,303
2008 36,920 0 0 0 36,920 225 0 36,695
2009 35,369 0 0 0 35,369 216 0 35,153
2010 33,883 0 0 0 33,883 207 0 33,676
2011 32,460 0 0 0 32,460 198 0 32,262
2012 31,097 0 0 0 31,097 189 0 30,908
2013 29,791 0 0 0 29,791 182 0 29,609
2014 28,540 0 0 0 28,540 174 0 28,366
2015 27,341 0 0 0 27,341 167 0 27,174
2016 26,193 0 0 0 26,193 160 0 26,033
2017 25,093 0 0 0 25,093 153 0 24,940
SUB-TOT 517,031 0 0 0 517,031 3,154 0 513,877
REMAIN 107,198 0 0 0 107,198 654 0 106,544
TOTAL 624,229 0 0 0 624,229 3,808 0 620,421
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 19,836 0 0 0 19,836 25,639 25,639 24,419
2004 19,836 0 0 0 19,836 23,729 49,368 20,458
2005 19,836 0 0 0 19,836 21,899 71,267 17,091
2006 19,836 0 0 0 19,836 20,147 91,414 14,234
2007 19,836 0 0 0 19,836 18,467 109,881 11,810
2008 19,836 0 0 0 19,836 16,859 126,740 9,761
2009 19,836 0 0 0 19,836 15,317 142,057 8,027
2010 19,836 0 0 0 19,836 13,840 155,897 6,567
2011 19,836 0 0 0 19,836 12,426 168,323 5,337
2012 19,836 0 0 0 19,836 11,072 179,395 4,305
2013 19,836 0 0 0 19,836 9,773 189,168 3,439
2014 19,836 0 0 0 19,836 8,530 197,698 2,719
2015 19,836 0 0 0 19,836 7,338 205,036 2,117
2016 19,836 0 0 0 19,836 6,197 211,233 1,618
2017 19,836 0 0 0 19,836 5,104 216,337 1,207
SUBTOT 297,540 0 0 0 297,540 216,337 133,109
REMAIN 95,874 0 0 0 95,874 10,670 227,007 2,059
TOTAL 393,414 0 0 0 393,414 227,007 135,168
LIFE OF EVALUATION IS 19.83 YEARS.
FINAL PRODUCTION RATE: 74 BBLS/MO
TENGASCO, INC. TABLE 57
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.861328 27.29 5.00% - 147,806
FINAL - 1.000000 0.861328 27.29 10.00% - 127,373
REMARKS - 15.00% - 111,228
20.00% - 98,288
25.00% - 87,775
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 3,933 0 0 3,388 0 0.000 27.29 0.00
2004 4 3,764 0 0 3,241 0 0.000 27.29 0.00
2005 4 3,602 0 0 3,103 0 0.000 27.29 0.00
2006 4 3,447 0 0 2,969 0 0.000 27.29 0.00
2007 4 3,299 0 0 2,841 0 0.000 27.29 0.00
2008 4 3,157 0 0 2,720 0 0.000 27.29 0.00
2009 4 3,021 0 0 2,602 0 0.000 27.29 0.00
2010 4 2,891 0 0 2,490 0 0.000 27.29 0.00
2011 4 2,767 0 0 2,384 0 0.000 27.29 0.00
2012 4 2,648 0 0 2,280 0 0.000 27.29 0.00
2013 4 1,911 0 0 1,646 0 0.000 27.29 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 34,440 0 0 29,664 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 34,440 0 0 29,664 0 0.000 27.29 0.00
CUMULATIVE 226,899 0 0
ULTIMATE 261,339 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 92,446 0 0 0 92,446 564 0 91,882
2004 88,471 0 0 0 88,471 540 0 87,931
2005 84,667 0 0 0 84,667 516 0 84,151
2006 81,026 0 0 0 81,026 494 0 80,532
2007 77,542 0 0 0 77,542 473 0 77,069
2008 74,208 0 0 0 74,208 453 0 73,755
2009 71,016 0 0 0 71,016 433 0 70,583
2010 67,963 0 0 0 67,963 415 0 67,548
2011 65,041 0 0 0 65,041 397 0 64,644
2012 62,244 0 0 0 62,244 379 0 61,865
2013 44,920 0 0 0 44,920 274 0 44,646
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 809,544 0 0 0 809,544 4,938 0 804,606
REMAIN 0 0 0 0 0 0 0 0
TOTAL 809,544 0 0 0 809,544 4,938 0 804,606
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 58,656 0 0 0 58,656 33,226 33,226 31,657
2004 58,656 0 0 0 58,656 29,275 62,501 25,250
2005 58,656 0 0 0 58,656 25,495 87,996 19,909
2006 58,656 0 0 0 58,656 21,876 109,872 15,465
2007 58,656 0 0 0 58,656 18,413 128,285 11,785
2008 58,656 0 0 0 58,656 15,099 143,384 8,750
2009 58,656 0 0 0 58,656 11,927 155,311 6,259
2010 58,656 0 0 0 58,656 8,892 164,203 4,227
2011 58,656 0 0 0 58,656 5,988 170,191 2,579
2012 58,656 0 0 0 58,656 3,209 173,400 1,256
2013 43,992 0 0 0 43,992 654 174,054 236
2014 0 0 0 0 0 0 174,054 0
2015 0 0 0 0 0 0 174,054 0
2016 0 0 0 0 0 0 174,054 0
2017 0 0 0 0 0 0 174,054 0
SUBTOT 630,552 0 0 0 630,552 174,054 127,373
REMAIN 0 0 0 0 0 0 174,054 0
TOTAL 630,552 0 0 0 630,552 174,054 127,373
LIFE OF EVALUATION IS 10.75 YEARS.
FINAL PRODUCTION RATE: 209 BBLS/MO
TENGASCO, INC. TABLE 58
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -A- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.860369 27.29 5.00% - 71,294
FINAL - 1.000000 0.860369 27.29 10.00% - 56,536
REMARKS - 15.00% - 46,378
20.00% - 39,100
25.00% - 33,698
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 846 0 0 728 0 0.000 27.29 0.00
2004 3 810 0 0 697 0 0.000 27.29 0.00
2005 3 776 0 0 668 0 0.000 27.29 0.00
2006 3 744 0 0 639 0 0.000 27.29 0.00
2007 3 712 0 0 613 0 0.000 27.29 0.00
2008 3 682 0 0 587 0 0.000 27.29 0.00
2009 3 654 0 0 563 0 0.000 27.29 0.00
2010 3 627 0 0 539 0 0.000 27.29 0.00
2011 3 600 0 0 516 0 0.000 27.29 0.00
2012 3 574 0 0 494 0 0.000 27.29 0.00
2013 3 551 0 0 474 0 0.000 27.29 0.00
2014 3 528 0 0 454 0 0.000 27.29 0.00
2015 3 505 0 0 435 0 0.000 27.29 0.00
2016 3 484 0 0 416 0 0.000 27.29 0.00
2017 3 464 0 0 399 0 0.000 27.29 0.00
SUB-TOTAL 9,557 0 0 8,222 0 0.000 27.29 0.00
REMAINDER 1,732 0 0 1,491 0 0.000 27.29 0.00
TOTAL 11,289 0 0 9,713 0 0.000 27.29 0.00
CUMULATIVE 219,342 0 0
ULTIMATE 230,631 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 19,857 0 0 0 19,857 121 0 19,736
2004 19,023 0 0 0 19,023 116 0 18,907
2005 18,225 0 0 0 18,225 111 0 18,114
2006 17,458 0 0 0 17,458 107 0 17,351
2007 16,726 0 0 0 16,726 102 0 16,624
2008 16,023 0 0 0 16,023 98 0 15,925
2009 15,350 0 0 0 15,350 93 0 15,257
2010 14,705 0 0 0 14,705 90 0 14,615
2011 14,088 0 0 0 14,088 86 0 14,002
2012 13,496 0 0 0 13,496 82 0 13,414
2013 12,930 0 0 0 12,930 79 0 12,851
2014 12,386 0 0 0 12,386 76 0 12,310
2015 11,866 0 0 0 11,866 72 0 11,794
2016 11,367 0 0 0 11,367 69 0 11,298
2017 10,891 0 0 0 10,891 67 0 10,824
SUB-TOT 224,391 0 0 0 224,391 1,369 0 223,022
REMAIN 40,665 0 0 0 40,665 248 0 40,417
TOTAL 265,056 0 0 0 265,056 1,617 0 263,439
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 8,856 0 0 0 8,856 10,880 10,880 10,362
2004 8,856 0 0 0 8,856 10,051 20,931 8,666
2005 8,856 0 0 0 8,856 9,258 30,189 7,226
2006 8,856 0 0 0 8,856 8,495 38,684 6,001
2007 8,856 0 0 0 8,856 7,768 46,452 4,969
2008 8,856 0 0 0 8,856 7,069 53,521 4,092
2009 8,856 0 0 0 8,856 6,401 59,922 3,355
2010 8,856 0 0 0 8,856 5,759 65,681 2,733
2011 8,856 0 0 0 8,856 5,146 70,827 2,210
2012 8,856 0 0 0 8,856 4,558 75,385 1,772
2013 8,856 0 0 0 8,856 3,995 79,380 1,406
2014 8,856 0 0 0 8,856 3,454 82,834 1,101
2015 8,856 0 0 0 8,856 2,938 85,772 848
2016 8,856 0 0 0 8,856 2,442 88,214 638
2017 8,856 0 0 0 8,856 1,968 90,182 465
SUBTOT 132,840 0 0 0 132,840 90,182 55,844
REMAIN 36,900 0 0 0 36,900 3,517 93,699 692
TOTAL 169,740 0 0 0 169,740 93,699 56,536
LIFE OF EVALUATION IS 19.17 YEARS.
FINAL PRODUCTION RATE: 32 BBLS/MO
TENGASCO, INC. TABLE 59
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -B- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 615,338
FINAL - 1.000000 0.820313 27.29 10.00% - 483,203
REMARKS - 15.00% - 393,705
20.00% - 330,364
25.00% - 283,773
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 6 7,337 0 0 6,019 0 0.000 27.29 0.00
2004 6 7,044 0 0 5,778 0 0.000 27.29 0.00
2005 6 6,762 0 0 5,547 0 0.000 27.29 0.00
2006 6 6,491 0 0 5,325 0 0.000 27.29 0.00
2007 6 6,232 0 0 5,112 0 0.000 27.29 0.00
2008 6 5,983 0 0 4,908 0 0.000 27.29 0.00
2009 6 5,743 0 0 4,711 0 0.000 27.29 0.00
2010 6 5,514 0 0 4,523 0 0.000 27.29 0.00
2011 6 5,293 0 0 4,342 0 0.000 27.29 0.00
2012 6 5,081 0 0 4,168 0 0.000 27.29 0.00
2013 6 4,878 0 0 4,001 0 0.000 27.29 0.00
2014 6 4,683 0 0 3,842 0 0.000 27.29 0.00
2015 6 4,495 0 0 3,688 0 0.000 27.29 0.00
2016 6 4,316 0 0 3,540 0 0.000 27.29 0.00
2017 6 4,143 0 0 3,398 0 0.000 27.29 0.00
SUB-TOTAL 83,995 0 0 68,902 0 0.000 27.29 0.00
REMAINDER 19,182 0 0 15,735 0 0.000 27.29 0.00
TOTAL 103,177 0 0 84,637 0 0.000 27.29 0.00
CUMULATIVE 509,871 0 0
ULTIMATE 613,048 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 164,254 0 0 0 164,254 1,002 0 163,252
2004 157,683 0 0 0 157,683 962 0 156,721
2005 151,376 0 0 0 151,376 923 0 150,453
2006 145,321 0 0 0 145,321 887 0 144,434
2007 139,508 0 0 0 139,508 851 0 138,657
2008 133,928 0 0 0 133,928 817 0 133,111
2009 128,571 0 0 0 128,571 784 0 127,787
2010 123,428 0 0 0 123,428 753 0 122,675
2011 118,490 0 0 0 118,490 723 0 117,767
2012 113,752 0 0 0 113,752 693 0 113,059
2013 109,201 0 0 0 109,201 667 0 108,534
2014 104,833 0 0 0 104,833 639 0 104,194
2015 100,640 0 0 0 100,640 614 0 100,026
2016 96,614 0 0 0 96,614 589 0 96,025
2017 92,749 0 0 0 92,749 566 0 92,183
SUB-TOT 1,880,348 0 0 0 1,880,348 11,470 0 1,868,878
REMAIN 429,408 0 0 0 429,408 2,620 0 426,788
TOTAL 2,309,756 0 0 0 2,309,756 14,090 0 2,295,666
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 72,864 0 0 0 72,864 90,388 90,388 86,085
2004 72,864 0 0 0 72,864 83,857 174,245 72,296
2005 72,864 0 0 0 72,864 77,589 251,834 60,554
2006 72,864 0 0 0 72,864 71,570 323,404 50,562
2007 72,864 0 0 0 72,864 65,793 389,197 42,077
2008 72,864 0 0 0 72,864 60,247 449,444 34,879
2009 72,864 0 0 0 72,864 54,923 504,367 28,784
2010 72,864 0 0 0 72,864 49,811 554,178 23,632
2011 72,864 0 0 0 72,864 44,903 599,081 19,285
2012 72,864 0 0 0 72,864 40,195 639,276 15,627
2013 72,864 0 0 0 72,864 35,670 674,946 12,555
2014 72,864 0 0 0 72,864 31,330 706,276 9,983
2015 72,864 0 0 0 72,864 27,162 733,438 7,835
2016 72,864 0 0 0 72,864 23,161 756,599 6,049
2017 72,864 0 0 0 72,864 19,319 775,918 4,568
SUBTOT 1,092,960 0 0 0 1,092,960 775,918 474,771
REMAIN 382,536 0 0 0 382,536 44,252 820,170 8,432
TOTAL 1,475,496 0 0 0 1,475,496 820,170 483,203
LIFE OF EVALUATION IS 20.25 YEARS.
FINAL PRODUCTION RATE: 273 BBLS/MO
TENGASCO, INC. TABLE 60
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T10S-R20W PROVED
CROFFOOT -C- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.806641 27.29 5.00% - 142,804
FINAL - 1.000000 0.806641 27.29 10.00% - 111,546
REMARKS - 15.00% - 90,579
20.00% - 75,842
25.00% - 65,055
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,609 0 0 1,298 0 0.000 27.29 0.00
2004 2 1,542 0 0 1,244 0 0.000 27.29 0.00
2005 2 1,477 0 0 1,191 0 0.000 27.29 0.00
2006 2 1,415 0 0 1,141 0 0.000 27.29 0.00
2007 2 1,355 0 0 1,094 0 0.000 27.29 0.00
2008 2 1,299 0 0 1,047 0 0.000 27.29 0.00
2009 2 1,244 0 0 1,003 0 0.000 27.29 0.00
2010 2 1,191 0 0 962 0 0.000 27.29 0.00
2011 2 1,142 0 0 921 0 0.000 27.29 0.00
2012 2 1,094 0 0 882 0 0.000 27.29 0.00
2013 2 1,047 0 0 845 0 0.000 27.29 0.00
2014 2 1,004 0 0 810 0 0.000 27.29 0.00
2015 2 962 0 0 775 0 0.000 27.29 0.00
2016 2 921 0 0 744 0 0.000 27.29 0.00
2017 2 883 0 0 711 0 0.000 27.29 0.00
SUB-TOTAL 18,185 0 0 14,668 0 0.000 27.29 0.00
REMAINDER 4,624 0 0 3,731 0 0.000 27.29 0.00
TOTAL 22,809 0 0 18,399 0 0.000 27.29 0.00
CUMULATIVE 124,563 0 0
ULTIMATE 147,372 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 35,424 0 0 0 35,424 216 0 35,208
2004 33,937 0 0 0 33,937 207 0 33,730
2005 32,511 0 0 0 32,511 198 0 32,313
2006 31,146 0 0 0 31,146 190 0 30,956
2007 29,837 0 0 0 29,837 182 0 29,655
2008 28,585 0 0 0 28,585 175 0 28,410
2009 27,384 0 0 0 27,384 167 0 27,217
2010 26,233 0 0 0 26,233 160 0 26,073
2011 25,132 0 0 0 25,132 153 0 24,979
2012 24,077 0 0 0 24,077 147 0 23,930
2013 23,065 0 0 0 23,065 141 0 22,924
2014 22,096 0 0 0 22,096 135 0 21,961
2015 21,169 0 0 0 21,169 129 0 21,040
2016 20,279 0 0 0 20,279 123 0 20,156
2017 19,428 0 0 0 19,428 119 0 19,309
SUB-TOT 400,303 0 0 0 400,303 2,442 0 397,861
REMAIN 101,803 0 0 0 101,803 621 0 101,182
TOTAL 502,106 0 0 0 502,106 3,063 0 499,043
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 14,568 0 0 0 14,568 20,640 20,640 19,657
2004 14,568 0 0 0 14,568 19,162 39,802 16,521
2005 14,568 0 0 0 14,568 17,745 57,547 13,848
2006 14,568 0 0 0 14,568 16,388 73,935 11,578
2007 14,568 0 0 0 14,568 15,087 89,022 9,648
2008 14,568 0 0 0 14,568 13,842 102,864 8,014
2009 14,568 0 0 0 14,568 12,649 115,513 6,629
2010 14,568 0 0 0 14,568 11,505 127,018 5,458
2011 14,568 0 0 0 14,568 10,411 137,429 4,471
2012 14,568 0 0 0 14,568 9,362 146,791 3,640
2013 14,568 0 0 0 14,568 8,356 155,147 2,941
2014 14,568 0 0 0 14,568 7,393 162,540 2,355
2015 14,568 0 0 0 14,568 6,472 169,012 1,867
2016 14,568 0 0 0 14,568 5,588 174,600 1,459
2017 14,568 0 0 0 14,568 4,741 179,341 1,121
SUBTOT 218,520 0 0 0 218,520 179,341 109,207
REMAIN 88,622 0 0 0 88,622 12,560 191,901 2,339
TOTAL 307,142 0 0 0 307,142 191,901 111,546
LIFE OF EVALUATION IS 21.08 YEARS.
FINAL PRODUCTION RATE: 56 BBLS/MO
TENGASCO, INC. TABLE 61
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MARCOTTE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T10S-R19W PROVED
DICK LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 354,865
FINAL - 1.000000 0.875000 27.29 10.00% - 297,848
REMARKS - 15.00% - 256,758
20.00% - 225,951
25.00% - 202,066
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 4,857 0 0 4,250 0 0.000 27.29 0.00
2004 3 3,815 0 0 3,338 0 0.000 27.29 0.00
2005 3 3,199 0 0 2,799 0 0.000 27.29 0.00
2006 3 2,783 0 0 2,435 0 0.000 27.29 0.00
2007 3 2,481 0 0 2,171 0 0.000 27.29 0.00
2008 3 2,250 0 0 1,969 0 0.000 27.29 0.00
2009 3 2,066 0 0 1,808 0 0.000 27.29 0.00
2010 3 1,915 0 0 1,676 0 0.000 27.29 0.00
2011 3 1,790 0 0 1,566 0 0.000 27.29 0.00
2012 3 1,683 0 0 1,472 0 0.000 27.29 0.00
2013 3 1,590 0 0 1,392 0 0.000 27.29 0.00
2014 3 1,510 0 0 1,321 0 0.000 27.29 0.00
2015 3 1,439 0 0 1,259 0 0.000 27.29 0.00
2016 3 1,376 0 0 1,203 0 0.000 27.29 0.00
2017 3 1,318 0 0 1,154 0 0.000 27.29 0.00
SUB-TOTAL 34,072 0 0 29,813 0 0.000 27.29 0.00
REMAINDER 5,311 0 0 4,647 0 0.000 27.29 0.00
TOTAL 39,383 0 0 34,460 0 0.000 27.29 0.00
CUMULATIVE 102,647 0 0
ULTIMATE 142,030 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 115,984 0 0 0 115,984 708 0 115,276
2004 91,098 0 0 0 91,098 555 0 90,543
2005 76,377 0 0 0 76,377 466 0 75,911
2006 66,463 0 0 0 66,463 406 0 66,057
2007 59,250 0 0 0 59,250 361 0 58,889
2008 53,724 0 0 0 53,724 328 0 53,396
2009 49,329 0 0 0 49,329 301 0 49,028
2010 45,737 0 0 0 45,737 279 0 45,458
2011 42,735 0 0 0 42,735 260 0 42,475
2012 40,181 0 0 0 40,181 245 0 39,936
2013 37,978 0 0 0 37,978 232 0 37,746
2014 36,054 0 0 0 36,054 220 0 35,834
2015 34,357 0 0 0 34,357 210 0 34,147
2016 32,846 0 0 0 32,846 200 0 32,646
2017 31,490 0 0 0 31,490 192 0 31,298
SUB-TOT 813,603 0 0 0 813,603 4,963 0 808,640
REMAIN 126,820 0 0 0 126,820 774 0 126,046
TOTAL 940,423 0 0 0 940,423 5,737 0 934,686
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 25,488 0 0 0 25,488 89,788 89,788 85,723
2004 25,488 0 0 0 25,488 65,055 154,843 56,180
2005 25,488 0 0 0 25,488 50,423 205,266 39,401
2006 25,488 0 0 0 25,488 40,569 245,835 28,690
2007 25,488 0 0 0 25,488 33,401 279,236 21,379
2008 25,488 0 0 0 25,488 27,908 307,144 16,168
2009 25,488 0 0 0 25,488 23,540 330,684 12,344
2010 25,488 0 0 0 25,488 19,970 350,654 9,479
2011 25,488 0 0 0 25,488 16,987 367,641 7,299
2012 25,488 0 0 0 25,488 14,448 382,089 5,619
2013 25,488 0 0 0 25,488 12,258 394,347 4,316
2014 25,488 0 0 0 25,488 10,346 404,693 3,298
2015 25,488 0 0 0 25,488 8,659 413,352 2,498
2016 25,488 0 0 0 25,488 7,158 420,510 1,870
2017 25,488 0 0 0 25,488 5,810 426,320 1,375
SUBTOT 382,320 0 0 0 382,320 426,320 295,639
REMAIN 114,696 0 0 0 114,696 11,350 437,670 2,209
TOTAL 497,016 0 0 0 497,016 437,670 297,848
LIFE OF EVALUATION IS 19.50 YEARS.
FINAL PRODUCTION RATE: 90 BBLS/MO
TENGASCO, INC. TABLE 62
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T9S-R18W PROVED
HARRISON -A- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 938,819
FINAL - 1.000000 0.875000 27.29 10.00% - 695,076
REMARKS - 15.00% - 547,395
20.00% - 450,169
25.00% - 381,912
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 5,962 0 0 5,217 0 0.000 27.29 0.00
2004 4 5,634 0 0 4,929 0 0.000 27.29 0.00
2005 4 5,324 0 0 4,659 0 0.000 27.29 0.00
2006 4 5,031 0 0 4,402 0 0.000 27.29 0.00
2007 4 4,754 0 0 4,160 0 0.000 27.29 0.00
2008 4 4,493 0 0 3,932 0 0.000 27.29 0.00
2009 4 4,246 0 0 3,715 0 0.000 27.29 0.00
2010 4 4,013 0 0 3,510 0 0.000 27.29 0.00
2011 4 3,791 0 0 3,318 0 0.000 27.29 0.00
2012 4 3,583 0 0 3,135 0 0.000 27.29 0.00
2013 4 3,386 0 0 2,963 0 0.000 27.29 0.00
2014 4 3,200 0 0 2,800 0 0.000 27.29 0.00
2015 4 3,024 0 0 2,646 0 0.000 27.29 0.00
2016 4 2,858 0 0 2,500 0 0.000 27.29 0.00
2017 4 2,700 0 0 2,363 0 0.000 27.29 0.00
SUB-TOTAL 61,999 0 0 54,249 0 0.000 27.29 0.00
REMAINDER 28,578 0 0 25,006 0 0.000 27.29 0.00
TOTAL 90,577 0 0 79,255 0 0.000 27.29 0.00
CUMULATIVE 257,624 0 0
ULTIMATE 348,201 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 142,360 0 0 0 142,360 868 0 141,492
2004 134,530 0 0 0 134,530 821 0 133,709
2005 127,131 0 0 0 127,131 776 0 126,355
2006 120,139 0 0 0 120,139 732 0 119,407
2007 113,531 0 0 0 113,531 693 0 112,838
2008 107,287 0 0 0 107,287 654 0 106,633
2009 101,386 0 0 0 101,386 619 0 100,767
2010 95,809 0 0 0 95,809 584 0 95,225
2011 90,541 0 0 0 90,541 553 0 89,988
2012 85,560 0 0 0 85,560 521 0 85,039
2013 80,855 0 0 0 80,855 494 0 80,361
2014 76,408 0 0 0 76,408 466 0 75,942
2015 72,205 0 0 0 72,205 440 0 71,765
2016 68,234 0 0 0 68,234 416 0 67,818
2017 64,481 0 0 0 64,481 394 0 64,087
SUB-TOT 1,480,457 0 0 0 1,480,457 9,031 0 1,471,426
REMAIN 682,413 0 0 0 682,413 4,163 0 678,250
TOTAL 2,162,870 0 0 0 2,162,870 13,194 0 2,149,676
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 23,952 0 0 0 23,952 117,540 117,540 111,939
2004 23,952 0 0 0 23,952 109,757 227,297 94,620
2005 23,952 0 0 0 23,952 102,403 329,700 79,913
2006 23,952 0 0 0 23,952 95,455 425,155 67,431
2007 23,952 0 0 0 23,952 88,886 514,041 56,839
2008 23,952 0 0 0 23,952 82,681 596,722 47,860
2009 23,952 0 0 0 23,952 76,815 673,537 40,250
2010 23,952 0 0 0 23,952 71,273 744,810 33,806
2011 23,952 0 0 0 23,952 66,036 810,846 28,354
2012 23,952 0 0 0 23,952 61,087 871,933 23,744
2013 23,952 0 0 0 23,952 56,409 928,342 19,847
2014 23,952 0 0 0 23,952 51,990 980,332 16,558
2015 23,952 0 0 0 23,952 47,813 1,028,145 13,785
2016 23,952 0 0 0 23,952 43,866 1,072,011 11,449
2017 23,952 0 0 0 23,952 40,135 1,112,146 9,482
SUBTOT 359,280 0 0 0 359,280 1,112,146 655,877
REMAIN 405,188 0 0 0 405,188 273,062 1,385,208 39,199
TOTAL 764,468 0 0 0 764,468 1,385,208 695,076
LIFE OF EVALUATION IS 31.92 YEARS.
FINAL PRODUCTION RATE: 84 BBLS/MO
TENGASCO, INC. TABLE 63
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 17-T9S-R18W PROVED
HILGERS -B- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 101,064
FINAL - 1.000000 0.875000 27.29 10.00% - 82,222
REMARKS - 15.00% - 68,805
20.00% - 58,920
25.00% - 51,413
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 1,393 0 0 1,219 0 0.000 27.29 0.00
2004 3 1,308 0 0 1,144 0 0.000 27.29 0.00
2005 3 1,232 0 0 1,078 0 0.000 27.29 0.00
2006 3 1,164 0 0 1,019 0 0.000 27.29 0.00
2007 3 1,104 0 0 966 0 0.000 27.29 0.00
2008 3 1,049 0 0 918 0 0.000 27.29 0.00
2009 3 1,000 0 0 874 0 0.000 27.29 0.00
2010 3 954 0 0 836 0 0.000 27.29 0.00
2011 3 914 0 0 799 0 0.000 27.29 0.00
2012 3 876 0 0 767 0 0.000 27.29 0.00
2013 3 841 0 0 735 0 0.000 27.29 0.00
2014 3 807 0 0 707 0 0.000 27.29 0.00
2015 3 775 0 0 678 0 0.000 27.29 0.00
2016 3 744 0 0 650 0 0.000 27.29 0.00
2017 3 714 0 0 625 0 0.000 27.29 0.00
SUB-TOTAL 14,875 0 0 13,015 0 0.000 27.29 0.00
REMAINDER 1,557 0 0 1,363 0 0.000 27.29 0.00
TOTAL 16,432 0 0 14,378 0 0.000 27.29 0.00
CUMULATIVE 218,060 0 0
ULTIMATE 234,492 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 33,271 0 0 0 33,271 203 0 33,068
2004 31,224 0 0 0 31,224 190 0 31,034
2005 29,413 0 0 0 29,413 180 0 29,233
2006 27,801 0 0 0 27,801 169 0 27,632
2007 26,355 0 0 0 26,355 161 0 26,194
2008 25,054 0 0 0 25,054 153 0 24,901
2009 23,872 0 0 0 23,872 146 0 23,726
2010 22,799 0 0 0 22,799 139 0 22,660
2011 21,817 0 0 0 21,817 133 0 21,684
2012 20,916 0 0 0 20,916 127 0 20,789
2013 20,076 0 0 0 20,076 123 0 19,953
2014 19,274 0 0 0 19,274 117 0 19,157
2015 18,502 0 0 0 18,502 113 0 18,389
2016 17,762 0 0 0 17,762 109 0 17,653
2017 17,052 0 0 0 17,052 104 0 16,948
SUB-TOT 355,188 0 0 0 355,188 2,167 0 353,021
REMAIN 37,182 0 0 0 37,182 226 0 36,956
TOTAL 392,370 0 0 0 392,370 2,393 0 389,977
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 15,084 0 0 0 15,084 17,984 17,984 17,134
2004 15,084 0 0 0 15,084 15,950 33,934 13,756
2005 15,084 0 0 0 15,084 14,149 48,083 11,047
2006 15,084 0 0 0 15,084 12,548 60,631 8,867
2007 15,084 0 0 0 15,084 11,110 71,741 7,108
2008 15,084 0 0 0 15,084 9,817 81,558 5,685
2009 15,084 0 0 0 15,084 8,642 90,200 4,530
2010 15,084 0 0 0 15,084 7,576 97,776 3,595
2011 15,084 0 0 0 15,084 6,600 104,376 2,836
2012 15,084 0 0 0 15,084 5,705 110,081 2,218
2013 15,084 0 0 0 15,084 4,869 114,950 1,715
2014 15,084 0 0 0 15,084 4,073 119,023 1,298
2015 15,084 0 0 0 15,084 3,305 122,328 954
2016 15,084 0 0 0 15,084 2,569 124,897 672
2017 15,084 0 0 0 15,084 1,864 126,761 441
SUBTOT 226,260 0 0 0 226,260 126,761 81,856
REMAIN 35,196 0 0 0 35,196 1,760 128,521 366
TOTAL 261,456 0 0 0 261,456 128,521 82,222
LIFE OF EVALUATION IS 17.33 YEARS.
FINAL PRODUCTION RATE: 53 BBLS/MO
TENGASCO, INC. TABLE 64
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
MCHALE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T9S-R18W PROVED
KABA #2 (ARBUCKLE-LANSING-T) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 23,365 0 0
ULTIMATE 23,365 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 65
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
OMLOR FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T22S-R14W PROVED
MILLER #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.875000 0.708801 27.29 5.00% - 41,408
FINAL - 0.875000 0.708801 27.29 10.00% - 35,039
REMARKS - 15.00% - 30,179
20.00% - 26,395
25.00% - 23,392
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 691 0 0 490 0 0.000 27.29 0.00
2004 1 635 0 0 450 0 0.000 27.29 0.00
2005 1 585 0 0 415 0 0.000 27.29 0.00
2006 1 538 0 0 381 0 0.000 27.29 0.00
2007 1 495 0 0 351 0 0.000 27.29 0.00
2008 1 455 0 0 322 0 0.000 27.29 0.00
2009 1 419 0 0 297 0 0.000 27.29 0.00
2010 1 385 0 0 273 0 0.000 27.29 0.00
2011 1 355 0 0 252 0 0.000 27.29 0.00
2012 1 326 0 0 231 0 0.000 27.29 0.00
2013 1 300 0 0 213 0 0.000 27.29 0.00
2014 1 276 0 0 195 0 0.000 27.29 0.00
2015 1 254 0 0 180 0 0.000 27.29 0.00
2016 1 24 0 0 17 0 0.000 27.29 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 5,738 0 0 4,067 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 5,738 0 0 4,067 0 0.000 27.29 0.00
CUMULATIVE 34,002 0 0
ULTIMATE 39,740 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 13,362 0 0 0 13,362 82 0 13,280
2004 12,294 0 0 0 12,294 74 0 12,220
2005 11,309 0 0 0 11,309 69 0 11,240
2006 10,405 0 0 0 10,405 64 0 10,341
2007 9,573 0 0 0 9,573 58 0 9,515
2008 8,807 0 0 0 8,807 54 0 8,753
2009 8,102 0 0 0 8,102 49 0 8,053
2010 7,454 0 0 0 7,454 46 0 7,408
2011 6,858 0 0 0 6,858 42 0 6,816
2012 6,309 0 0 0 6,309 38 0 6,271
2013 5,805 0 0 0 5,805 36 0 5,769
2014 5,340 0 0 0 5,340 32 0 5,308
2015 4,912 0 0 0 4,912 30 0 4,882
2016 461 0 0 0 461 3 0 458
2017 0 0 0 0 0 0 0 0
SUB-TOT 110,991 0 0 0 110,991 677 0 110,314
REMAIN 0 0 0 0 0 0 0 0
TOTAL 110,991 0 0 0 110,991 677 0 110,314
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,610 0 0 0 4,610 8,670 8,670 8,261
2004 4,609 0 0 0 4,609 7,611 16,281 6,565
2005 4,610 0 0 0 4,610 6,630 22,911 5,177
2006 4,609 0 0 0 4,609 5,732 28,643 4,052
2007 4,610 0 0 0 4,610 4,905 33,548 3,138
2008 4,609 0 0 0 4,609 4,144 37,692 2,401
2009 4,610 0 0 0 4,610 3,443 41,135 1,806
2010 4,609 0 0 0 4,609 2,799 43,934 1,329
2011 4,610 0 0 0 4,610 2,206 46,140 949
2012 4,609 0 0 0 4,609 1,662 47,802 647
2013 4,610 0 0 0 4,610 1,159 48,961 409
2014 4,609 0 0 0 4,609 699 49,660 224
2015 4,610 0 0 0 4,610 272 49,932 79
2016 452 0 0 0 452 6 49,938 2
2017 0 0 0 0 0 0 49,938 0
SUBTOT 60,376 0 0 0 60,376 49,938 35,039
REMAIN 0 0 0 0 0 0 49,938 0
TOTAL 60,376 0 0 0 60,376 49,938 35,039
LIFE OF EVALUATION IS 13.10 YEARS.
FINAL PRODUCTION RATE: 20 BBLS/MO
TENGASCO, INC. TABLE 66
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
OMLOR FIELD, STAFFORD COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 11-T22S-R14W PROVED
WILLIAMS #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.875000 0.715210 27.29 5.00% - 89,039
FINAL - 0.875000 0.715210 27.29 10.00% - 72,808
REMARKS - 15.00% - 61,144
20.00% - 52,487
25.00% - 45,873
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,094 0 0 782 0 0.000 27.29 0.00
2004 1 1,006 0 0 720 0 0.000 27.29 0.00
2005 1 926 0 0 662 0 0.000 27.29 0.00
2006 1 851 0 0 609 0 0.000 27.29 0.00
2007 1 784 0 0 561 0 0.000 27.29 0.00
2008 1 721 0 0 515 0 0.000 27.29 0.00
2009 1 663 0 0 475 0 0.000 27.29 0.00
2010 1 610 0 0 436 0 0.000 27.29 0.00
2011 1 562 0 0 401 0 0.000 27.29 0.00
2012 1 516 0 0 370 0 0.000 27.29 0.00
2013 1 475 0 0 340 0 0.000 27.29 0.00
2014 1 437 0 0 312 0 0.000 27.29 0.00
2015 1 402 0 0 288 0 0.000 27.29 0.00
2016 1 370 0 0 264 0 0.000 27.29 0.00
2017 1 341 0 0 244 0 0.000 27.29 0.00
SUB-TOTAL 9,758 0 0 6,979 0 0.000 27.29 0.00
REMAINDER 692 0 0 495 0 0.000 27.29 0.00
TOTAL 10,450 0 0 7,474 0 0.000 27.29 0.00
CUMULATIVE 114,978 0 0
ULTIMATE 125,428 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 21,348 0 0 0 21,348 130 0 21,218
2004 19,641 0 0 0 19,641 120 0 19,521
2005 18,069 0 0 0 18,069 110 0 17,959
2006 16,623 0 0 0 16,623 102 0 16,521
2007 15,294 0 0 0 15,294 93 0 15,201
2008 14,070 0 0 0 14,070 86 0 13,984
2009 12,945 0 0 0 12,945 79 0 12,866
2010 11,909 0 0 0 11,909 72 0 11,837
2011 10,956 0 0 0 10,956 67 0 10,889
2012 10,080 0 0 0 10,080 62 0 10,018
2013 9,273 0 0 0 9,273 56 0 9,217
2014 8,532 0 0 0 8,532 52 0 8,480
2015 7,849 0 0 0 7,849 48 0 7,801
2016 7,221 0 0 0 7,221 44 0 7,177
2017 6,644 0 0 0 6,644 41 0 6,603
SUB-TOT 190,454 0 0 0 190,454 1,162 0 189,292
REMAIN 13,507 0 0 0 13,507 82 0 13,425
TOTAL 203,961 0 0 0 203,961 1,244 0 202,717
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 5,208 0 0 0 5,208 16,010 16,010 15,252
2004 5,208 0 0 0 5,208 14,313 30,323 12,344
2005 5,208 0 0 0 5,208 12,751 43,074 9,955
2006 5,208 0 0 0 5,208 11,313 54,387 7,995
2007 5,208 0 0 0 5,208 9,993 64,380 6,393
2008 5,208 0 0 0 5,208 8,776 73,156 5,082
2009 5,208 0 0 0 5,208 7,658 80,814 4,015
2010 5,208 0 0 0 5,208 6,629 87,443 3,146
2011 5,208 0 0 0 5,208 5,681 93,124 2,441
2012 5,208 0 0 0 5,208 4,810 97,934 1,871
2013 5,208 0 0 0 5,208 4,009 101,943 1,412
2014 5,208 0 0 0 5,208 3,272 105,215 1,043
2015 5,208 0 0 0 5,208 2,593 107,808 749
2016 5,208 0 0 0 5,208 1,969 109,777 515
2017 5,208 0 0 0 5,208 1,395 111,172 330
SUBTOT 78,120 0 0 0 78,120 111,172 72,543
REMAIN 12,152 0 0 0 12,152 1,273 112,445 265
TOTAL 90,272 0 0 0 90,272 112,445 72,808
LIFE OF EVALUATION IS 17.33 YEARS.
FINAL PRODUCTION RATE: 22 BBLS/MO
TENGASCO, INC. TABLE 67
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
OTIS-ALBERT FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 2-T18S-R16W PROVED
HARTMAN -C- #1 (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 73
ULTIMATE 0 0 73
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 68
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T9S-R18W PROVED
STAHL LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.843750 27.29 5.00% - 640,574
FINAL - 1.000000 0.843750 27.29 10.00% - 476,630
REMARKS - 15.00% - 375,402
20.00% - 308,227
25.00% - 260,963
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 5,285 0 0 4,459 0 0.000 27.29 0.00
2004 4 5,084 0 0 4,290 0 0.000 27.29 0.00
2005 4 4,891 0 0 4,127 0 0.000 27.29 0.00
2006 4 4,705 0 0 3,970 0 0.000 27.29 0.00
2007 4 4,526 0 0 3,819 0 0.000 27.29 0.00
2008 4 4,355 0 0 3,674 0 0.000 27.29 0.00
2009 4 4,189 0 0 3,534 0 0.000 27.29 0.00
2010 4 4,029 0 0 3,400 0 0.000 27.29 0.00
2011 4 3,877 0 0 3,271 0 0.000 27.29 0.00
2012 4 3,729 0 0 3,146 0 0.000 27.29 0.00
2013 4 3,587 0 0 3,027 0 0.000 27.29 0.00
2014 4 3,452 0 0 2,912 0 0.000 27.29 0.00
2015 4 3,320 0 0 2,801 0 0.000 27.29 0.00
2016 4 3,194 0 0 2,695 0 0.000 27.29 0.00
2017 4 3,072 0 0 2,593 0 0.000 27.29 0.00
SUB-TOTAL 61,295 0 0 51,718 0 0.000 27.29 0.00
REMAINDER 30,319 0 0 25,581 0 0.000 27.29 0.00
TOTAL 91,614 0 0 77,299 0 0.000 27.29 0.00
CUMULATIVE 138,112 0 0
ULTIMATE 229,726 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 121,691 0 0 0 121,691 742 0 120,949
2004 117,067 0 0 0 117,067 714 0 116,353
2005 112,619 0 0 0 112,619 687 0 111,932
2006 108,339 0 0 0 108,339 661 0 107,678
2007 104,222 0 0 0 104,222 636 0 103,586
2008 100,262 0 0 0 100,262 612 0 99,650
2009 96,451 0 0 0 96,451 588 0 95,863
2010 92,787 0 0 0 92,787 566 0 92,221
2011 89,261 0 0 0 89,261 544 0 88,717
2012 85,868 0 0 0 85,868 524 0 85,344
2013 82,606 0 0 0 82,606 504 0 82,102
2014 79,467 0 0 0 79,467 485 0 78,982
2015 76,447 0 0 0 76,447 466 0 75,981
2016 73,542 0 0 0 73,542 449 0 73,093
2017 70,747 0 0 0 70,747 431 0 70,316
SUB-TOT 1,411,376 0 0 0 1,411,376 8,609 0 1,402,767
REMAIN 698,118 0 0 0 698,118 4,259 0 693,859
TOTAL 2,109,494 0 0 0 2,109,494 12,868 0 2,096,626
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 42,048 0 0 0 42,048 78,901 78,901 75,136
2004 42,048 0 0 0 42,048 74,305 153,206 64,053
2005 42,048 0 0 0 42,048 69,884 223,090 54,532
2006 42,048 0 0 0 42,048 65,630 288,720 46,359
2007 42,048 0 0 0 42,048 61,538 350,258 39,349
2008 42,048 0 0 0 42,048 57,602 407,860 33,342
2009 42,048 0 0 0 42,048 53,815 461,675 28,197
2010 42,048 0 0 0 42,048 50,173 511,848 23,797
2011 42,048 0 0 0 42,048 46,669 558,517 20,038
2012 42,048 0 0 0 42,048 43,296 601,813 16,828
2013 42,048 0 0 0 42,048 40,054 641,867 14,093
2014 42,048 0 0 0 42,048 36,934 678,801 11,763
2015 42,048 0 0 0 42,048 33,933 712,734 9,783
2016 42,048 0 0 0 42,048 31,045 743,779 8,103
2017 42,048 0 0 0 42,048 28,268 772,047 6,679
SUBTOT 630,720 0 0 0 630,720 772,047 452,052
REMAIN 536,112 0 0 0 536,112 157,747 929,794 24,578
TOTAL 1,166,832 0 0 0 1,166,832 929,794 476,630
LIFE OF EVALUATION IS 27.75 YEARS.
FINAL PRODUCTION RATE: 153 BBLS/MO
TENGASCO, INC. TABLE 69
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PARADISE CREEK FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 21-T9S-R18W PROVED
STAHL #7 PUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.843750 27.29 5.00% - 394,468
FINAL - 1.000000 0.843750 27.29 10.00% - 253,480
REMARKS - 15.00% - 173,973
20.00% - 124,875
25.00% - 92,408
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 3,426 0 0 2,891 0 0.000 27.29 0.00
2005 1 3,228 0 0 2,723 0 0.000 27.29 0.00
2006 1 2,608 0 0 2,201 0 0.000 27.29 0.00
2007 1 2,484 0 0 2,096 0 0.000 27.29 0.00
2008 1 2,367 0 0 1,997 0 0.000 27.29 0.00
2009 1 2,256 0 0 1,903 0 0.000 27.29 0.00
2010 1 2,149 0 0 1,813 0 0.000 27.29 0.00
2011 1 2,047 0 0 1,728 0 0.000 27.29 0.00
2012 1 1,951 0 0 1,646 0 0.000 27.29 0.00
2013 1 1,859 0 0 1,568 0 0.000 27.29 0.00
2014 1 1,771 0 0 1,494 0 0.000 27.29 0.00
2015 1 1,687 0 0 1,424 0 0.000 27.29 0.00
2016 1 1,608 0 0 1,357 0 0.000 27.29 0.00
2017 1 1,532 0 0 1,292 0 0.000 27.29 0.00
SUB-TOTAL 30,973 0 0 26,133 0 0.000 27.29 0.00
REMAINDER 16,013 0 0 13,511 0 0.000 27.29 0.00
TOTAL 46,986 0 0 39,644 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 46,986 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 78,886 0 0 0 78,886 481 0 78,405
2005 74,333 0 0 0 74,333 454 0 73,879
2006 60,040 0 0 0 60,040 366 0 59,674
2007 57,205 0 0 0 57,205 349 0 56,856
2008 54,505 0 0 0 54,505 332 0 54,173
2009 51,933 0 0 0 51,933 317 0 51,616
2010 49,482 0 0 0 49,482 302 0 49,180
2011 47,146 0 0 0 47,146 288 0 46,858
2012 44,920 0 0 0 44,920 274 0 44,646
2013 42,801 0 0 0 42,801 261 0 42,540
2014 40,780 0 0 0 40,780 248 0 40,532
2015 38,855 0 0 0 38,855 237 0 38,618
2016 37,022 0 0 0 37,022 226 0 36,796
2017 35,274 0 0 0 35,274 215 0 35,059
SUB-TOT 713,182 0 0 0 713,182 4,350 0 708,832
REMAIN 368,715 0 0 0 368,715 2,250 0 366,465
TOTAL 1,081,897 0 0 0 1,081,897 6,600 0 1,075,297
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 5,256 0 100,000 0 105,256 -26,851 -26,851 -24,152
2005 10,512 0 0 0 10,512 63,367 36,516 49,740
2006 10,512 0 0 0 10,512 49,162 85,678 34,725
2007 10,512 0 0 0 10,512 46,344 132,022 29,632
2008 10,512 0 0 0 10,512 43,661 175,683 25,270
2009 10,512 0 0 0 10,512 41,104 216,787 21,536
2010 10,512 0 0 0 10,512 38,668 255,455 18,339
2011 10,512 0 0 0 10,512 36,346 291,801 15,604
2012 10,512 0 0 0 10,512 34,134 325,935 13,266
2013 10,512 0 0 0 10,512 32,028 357,963 11,267
2014 10,512 0 0 0 10,512 30,020 387,983 9,560
2015 10,512 0 0 0 10,512 28,106 416,089 8,102
2016 10,512 0 0 0 10,512 26,284 442,373 6,858
2017 10,512 0 0 0 10,512 24,547 466,920 5,799
SUBTOT 141,912 0 100,000 0 241,912 466,920 225,546
REMAIN 158,588 0 0 0 158,588 207,877 674,797 27,934
TOTAL 300,500 0 100,000 0 400,500 674,797 253,480
LIFE OF EVALUATION IS 30.09 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 70
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T20S-R16W PROVED
O'SCHULTZ #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937500 5.00% - 0
FINAL - 0.937500 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 46,727 0 0
ULTIMATE 46,727 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 71
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T20S-R16W PROVED
OETKIN LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937500 0.794678 27.29 5.00% - 2,175
FINAL - 0.937500 0.794678 27.29 10.00% - 2,124
REMARKS - 15.00% - 2,076
20.00% - 2,030
25.00% - 1,985
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,641 0 0 1,304 0 0.000 27.29 0.00
2004 2 654 0 0 520 0 0.000 27.29 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 2,295 0 0 1,824 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 2,295 0 0 1,824 0 0.000 27.29 0.00
CUMULATIVE 120,974 0 0
ULTIMATE 123,269 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 35,582 0 0 0 35,582 217 0 35,365
2004 14,188 0 0 0 14,188 87 0 14,101
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 49,770 0 0 0 49,770 304 0 49,466
REMAIN 0 0 0 0 0 0 0 0
TOTAL 49,770 0 0 0 49,770 304 0 49,466
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 33,345 0 0 0 33,345 2,020 2,020 1,940
2004 13,894 0 0 0 13,894 207 2,227 184
2005 0 0 0 0 0 0 2,227 0
2006 0 0 0 0 0 0 2,227 0
2007 0 0 0 0 0 0 2,227 0
2008 0 0 0 0 0 0 2,227 0
2009 0 0 0 0 0 0 2,227 0
2010 0 0 0 0 0 0 2,227 0
2011 0 0 0 0 0 0 2,227 0
2012 0 0 0 0 0 0 2,227 0
2013 0 0 0 0 0 0 2,227 0
2014 0 0 0 0 0 0 2,227 0
2015 0 0 0 0 0 0 2,227 0
2016 0 0 0 0 0 0 2,227 0
2017 0 0 0 0 0 0 2,227 0
SUBTOT 47,239 0 0 0 47,239 2,227 2,124
REMAIN 0 0 0 0 0 0 2,227 0
TOTAL 47,239 0 0 0 47,239 2,227 2,124
LIFE OF EVALUATION IS 1.42 YEARS.
FINAL PRODUCTION RATE: 130 BBLS/MO
TENGASCO, INC. TABLE 72
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PAWNEE ROCK FIELD, PAWNEE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 24-T20S-R16W PROBABLE
OETKIN #8 PBUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937500 0.794678 27.29 5.00% - 39,600
FINAL - 0.937500 0.794678 27.29 10.00% - 20,893
REMARKS - 15.00% - 8,495
20.00% - 193
25.00% - -5,389
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 2,029 0 0 1,612 0 0.000 27.29 0.00
2005 1 1,910 0 0 1,518 0 0.000 27.29 0.00
2006 1 1,536 0 0 1,221 0 0.000 27.29 0.00
2007 1 1,457 0 0 1,158 0 0.000 27.29 0.00
2008 1 1,381 0 0 1,097 0 0.000 27.29 0.00
2009 1 1,309 0 0 1,040 0 0.000 27.29 0.00
2010 1 1,241 0 0 987 0 0.000 27.29 0.00
2011 1 1,176 0 0 934 0 0.000 27.29 0.00
2012 1 1,116 0 0 887 0 0.000 27.29 0.00
2013 1 1,057 0 0 840 0 0.000 27.29 0.00
2014 1 1,003 0 0 797 0 0.000 27.29 0.00
2015 1 950 0 0 755 0 0.000 27.29 0.00
2016 1 901 0 0 716 0 0.000 27.29 0.00
2017 1 854 0 0 678 0 0.000 27.29 0.00
SUB-TOTAL 17,920 0 0 14,240 0 0.000 27.29 0.00
REMAINDER 1,070 0 0 851 0 0.000 27.29 0.00
TOTAL 18,990 0 0 15,091 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 18,990 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 43,992 0 0 0 43,992 268 0 43,724
2005 41,434 0 0 0 41,434 253 0 41,181
2006 33,320 0 0 0 33,320 203 0 33,117
2007 31,587 0 0 0 31,587 193 0 31,394
2008 29,946 0 0 0 29,946 183 0 29,763
2009 28,389 0 0 0 28,389 173 0 28,216
2010 26,913 0 0 0 26,913 164 0 26,749
2011 25,515 0 0 0 25,515 156 0 25,359
2012 24,188 0 0 0 24,188 147 0 24,041
2013 22,931 0 0 0 22,931 140 0 22,791
2014 21,739 0 0 0 21,739 133 0 21,606
2015 20,609 0 0 0 20,609 125 0 20,484
2016 19,538 0 0 0 19,538 120 0 19,418
2017 18,522 0 0 0 18,522 113 0 18,409
SUB-TOT 388,623 0 0 0 388,623 2,371 0 386,252
REMAIN 23,207 0 0 0 23,207 141 0 23,066
TOTAL 411,830 0 0 0 411,830 2,512 0 409,318
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 8,336 0 93,750 0 102,086 -58,362 -58,362 -50,587
2005 16,673 0 0 0 16,673 24,508 -33,854 19,292
2006 16,672 0 0 0 16,672 16,445 -17,409 11,621
2007 16,673 0 0 0 16,673 14,721 -2,688 9,416
2008 16,672 0 0 0 16,672 13,091 10,403 7,581
2009 16,673 0 0 0 16,673 11,543 21,946 6,051
2010 16,672 0 0 0 16,672 10,077 32,023 4,783
2011 16,673 0 0 0 16,673 8,686 40,709 3,732
2012 16,672 0 0 0 16,672 7,369 48,078 2,866
2013 16,673 0 0 0 16,673 6,118 54,196 2,155
2014 16,672 0 0 0 16,672 4,934 59,130 1,573
2015 16,673 0 0 0 16,673 3,811 62,941 1,101
2016 16,672 0 0 0 16,672 2,746 65,687 718
2017 16,673 0 0 0 16,673 1,736 67,423 412
SUBTOT 225,079 0 93,750 0 318,829 67,423 20,714
REMAIN 22,230 0 0 0 22,230 836 68,259 179
TOTAL 247,309 0 93,750 0 341,059 68,259 20,893
LIFE OF EVALUATION IS 16.33 YEARS.
FINAL PRODUCTION RATE: 65 BBLS/MO
TENGASCO, INC. TABLE 73
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
ANDERSON -A- #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 30,999
FINAL - 1.000000 0.875000 27.29 10.00% - 23,889
REMARKS - 15.00% - 19,104
20.00% - 15,762
25.00% - 13,345
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 308 0 0 270 0 0.000 27.29 0.00
2004 1 301 0 0 263 0 0.000 27.29 0.00
2005 1 293 0 0 256 0 0.000 27.29 0.00
2006 1 286 0 0 250 0 0.000 27.29 0.00
2007 1 279 0 0 244 0 0.000 27.29 0.00
2008 1 272 0 0 238 0 0.000 27.29 0.00
2009 1 265 0 0 232 0 0.000 27.29 0.00
2010 1 259 0 0 227 0 0.000 27.29 0.00
2011 1 252 0 0 221 0 0.000 27.29 0.00
2012 1 246 0 0 215 0 0.000 27.29 0.00
2013 1 240 0 0 210 0 0.000 27.29 0.00
2014 1 235 0 0 205 0 0.000 27.29 0.00
2015 1 228 0 0 200 0 0.000 27.29 0.00
2016 1 223 0 0 195 0 0.000 27.29 0.00
2017 1 217 0 0 190 0 0.000 27.29 0.00
SUB-TOTAL 3,904 0 0 3,416 0 0.000 27.29 0.00
REMAINDER 32 0 0 28 0 0.000 27.29 0.00
TOTAL 3,936 0 0 3,444 0 0.000 27.29 0.00
CUMULATIVE 12,670 0 0
ULTIMATE 16,606 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 7,358 0 0 0 7,358 45 0 7,313
2004 7,177 0 0 0 7,177 44 0 7,133
2005 7,000 0 0 0 7,000 42 0 6,958
2006 6,827 0 0 0 6,827 42 0 6,785
2007 6,659 0 0 0 6,659 41 0 6,618
2008 6,496 0 0 0 6,496 39 0 6,457
2009 6,335 0 0 0 6,335 39 0 6,296
2010 6,179 0 0 0 6,179 38 0 6,141
2011 6,027 0 0 0 6,027 36 0 5,991
2012 5,878 0 0 0 5,878 36 0 5,842
2013 5,734 0 0 0 5,734 35 0 5,699
2014 5,592 0 0 0 5,592 34 0 5,558
2015 5,454 0 0 0 5,454 34 0 5,420
2016 5,320 0 0 0 5,320 32 0 5,288
2017 5,190 0 0 0 5,190 32 0 5,158
SUB-TOT 93,226 0 0 0 93,226 569 0 92,657
REMAIN 761 0 0 0 761 4 0 757
TOTAL 93,987 0 0 0 93,987 573 0 93,414
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,396 0 0 0 3,396 3,917 3,917 3,730
2004 3,396 0 0 0 3,396 3,737 7,654 3,221
2005 3,396 0 0 0 3,396 3,562 11,216 2,779
2006 3,396 0 0 0 3,396 3,389 14,605 2,394
2007 3,396 0 0 0 3,396 3,222 17,827 2,060
2008 3,396 0 0 0 3,396 3,061 20,888 1,771
2009 3,396 0 0 0 3,396 2,900 23,788 1,519
2010 3,396 0 0 0 3,396 2,745 26,533 1,302
2011 3,396 0 0 0 3,396 2,595 29,128 1,114
2012 3,396 0 0 0 3,396 2,446 31,574 951
2013 3,396 0 0 0 3,396 2,303 33,877 810
2014 3,396 0 0 0 3,396 2,162 36,039 688
2015 3,396 0 0 0 3,396 2,024 38,063 584
2016 3,396 0 0 0 3,396 1,892 39,955 494
2017 3,396 0 0 0 3,396 1,762 41,717 416
SUBTOT 50,940 0 0 0 50,940 41,717 23,833
REMAIN 505 0 0 0 505 252 41,969 56
TOTAL 51,445 0 0 0 51,445 41,969 23,889
LIFE OF EVALUATION IS 15.15 YEARS.
FINAL PRODUCTION RATE: 18 BBLS/MO
TENGASCO, INC. TABLE 74
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
BARDOT #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 25,414 0 0
ULTIMATE 25,414 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 75
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T10S-R17W PROVED
GARVERT -A- #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 293,020
FINAL - 1.000000 0.875000 27.29 10.00% - 191,111
REMARKS - 15.00% - 140,322
20.00% - 110,697
25.00% - 91,423
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,098 0 0 961 0 0.000 27.29 0.00
2004 1 1,062 0 0 929 0 0.000 27.29 0.00
2005 1 1,027 0 0 899 0 0.000 27.29 0.00
2006 1 995 0 0 870 0 0.000 27.29 0.00
2007 1 961 0 0 842 0 0.000 27.29 0.00
2008 1 931 0 0 814 0 0.000 27.29 0.00
2009 1 900 0 0 788 0 0.000 27.29 0.00
2010 1 872 0 0 762 0 0.000 27.29 0.00
2011 1 842 0 0 737 0 0.000 27.29 0.00
2012 1 816 0 0 714 0 0.000 27.29 0.00
2013 1 789 0 0 690 0 0.000 27.29 0.00
2014 1 763 0 0 668 0 0.000 27.29 0.00
2015 1 738 0 0 646 0 0.000 27.29 0.00
2016 1 715 0 0 625 0 0.000 27.29 0.00
2017 1 691 0 0 605 0 0.000 27.29 0.00
SUB-TOTAL 13,200 0 0 11,550 0 0.000 27.29 0.00
REMAINDER 10,953 0 0 9,584 0 0.000 27.29 0.00
TOTAL 24,153 0 0 21,134 0 0.000 27.29 0.00
CUMULATIVE 31,198 0 0
ULTIMATE 55,351 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 26,213 0 0 0 26,213 160 0 26,053
2004 25,362 0 0 0 25,362 155 0 25,207
2005 24,537 0 0 0 24,537 149 0 24,388
2006 23,739 0 0 0 23,739 145 0 23,594
2007 22,968 0 0 0 22,968 140 0 22,828
2008 22,222 0 0 0 22,222 136 0 22,086
2009 21,499 0 0 0 21,499 131 0 21,368
2010 20,801 0 0 0 20,801 127 0 20,674
2011 20,125 0 0 0 20,125 123 0 20,002
2012 19,470 0 0 0 19,470 118 0 19,352
2013 18,838 0 0 0 18,838 115 0 18,723
2014 18,226 0 0 0 18,226 111 0 18,115
2015 17,633 0 0 0 17,633 108 0 17,525
2016 17,060 0 0 0 17,060 104 0 16,956
2017 16,506 0 0 0 16,506 101 0 16,405
SUB-TOT 315,199 0 0 0 315,199 1,923 0 313,276
REMAIN 261,550 0 0 0 261,550 1,595 0 259,955
TOTAL 576,749 0 0 0 576,749 3,518 0 573,231
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 744 0 0 0 744 25,309 25,309 24,096
2004 744 0 0 0 744 24,463 49,772 21,083
2005 744 0 0 0 744 23,644 73,416 18,446
2006 744 0 0 0 744 22,850 96,266 16,137
2007 744 0 0 0 744 22,084 118,350 14,117
2008 744 0 0 0 744 21,342 139,692 12,350
2009 744 0 0 0 744 20,624 160,316 10,803
2010 744 0 0 0 744 19,930 180,246 9,451
2011 744 0 0 0 744 19,258 199,504 8,266
2012 744 0 0 0 744 18,608 218,112 7,229
2013 744 0 0 0 744 17,979 236,091 6,324
2014 744 0 0 0 744 17,371 253,462 5,530
2015 744 0 0 0 744 16,781 270,243 4,836
2016 744 0 0 0 744 16,212 286,455 4,230
2017 744 0 0 0 744 15,661 302,116 3,698
SUBTOT 11,160 0 0 0 11,160 302,116 166,596
REMAIN 17,112 0 0 0 17,112 242,843 544,959 24,515
TOTAL 28,272 0 0 0 28,272 544,959 191,111
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 27 BBLS/MO
TENGASCO, INC. TABLE 76
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T10S-R18W PROVED
GARVERT -B- #1 (CNGL-LNSG-PLSN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 147,544
FINAL - 1.000000 0.875000 27.29 10.00% - 95,748
REMARKS - 15.00% - 70,051
20.00% - 55,123
25.00% - 45,444
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 592 0 0 518 0 0.000 27.29 0.00
2004 1 576 0 0 504 0 0.000 27.29 0.00
2005 1 560 0 0 490 0 0.000 27.29 0.00
2006 1 545 0 0 477 0 0.000 27.29 0.00
2007 1 530 0 0 464 0 0.000 27.29 0.00
2008 1 516 0 0 451 0 0.000 27.29 0.00
2009 1 502 0 0 439 0 0.000 27.29 0.00
2010 1 488 0 0 427 0 0.000 27.29 0.00
2011 1 475 0 0 416 0 0.000 27.29 0.00
2012 1 462 0 0 405 0 0.000 27.29 0.00
2013 1 450 0 0 393 0 0.000 27.29 0.00
2014 1 437 0 0 383 0 0.000 27.29 0.00
2015 1 426 0 0 372 0 0.000 27.29 0.00
2016 1 414 0 0 363 0 0.000 27.29 0.00
2017 1 403 0 0 352 0 0.000 27.29 0.00
SUB-TOTAL 7,376 0 0 6,454 0 0.000 27.29 0.00
REMAINDER 6,775 0 0 5,928 0 0.000 27.29 0.00
TOTAL 14,151 0 0 12,382 0 0.000 27.29 0.00
CUMULATIVE 46,815 0 0
ULTIMATE 60,966 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 14,132 0 0 0 14,132 86 0 14,046
2004 13,749 0 0 0 13,749 84 0 13,665
2005 13,377 0 0 0 13,377 82 0 13,295
2006 13,014 0 0 0 13,014 79 0 12,935
2007 12,662 0 0 0 12,662 77 0 12,585
2008 12,318 0 0 0 12,318 75 0 12,243
2009 11,985 0 0 0 11,985 74 0 11,911
2010 11,659 0 0 0 11,659 71 0 11,588
2011 11,344 0 0 0 11,344 69 0 11,275
2012 11,036 0 0 0 11,036 67 0 10,969
2013 10,738 0 0 0 10,738 66 0 10,672
2014 10,446 0 0 0 10,446 63 0 10,383
2015 10,163 0 0 0 10,163 62 0 10,101
2016 9,888 0 0 0 9,888 61 0 9,827
2017 9,619 0 0 0 9,619 58 0 9,561
SUB-TOT 176,130 0 0 0 176,130 1,074 0 175,056
REMAIN 161,771 0 0 0 161,771 987 0 160,784
TOTAL 337,901 0 0 0 337,901 2,061 0 335,840
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,572 0 0 0 1,572 12,474 12,474 11,876
2004 1,572 0 0 0 1,572 12,093 24,567 10,422
2005 1,572 0 0 0 1,572 11,723 36,290 9,145
2006 1,572 0 0 0 1,572 11,363 47,653 8,025
2007 1,572 0 0 0 1,572 11,013 58,666 7,040
2008 1,572 0 0 0 1,572 10,671 69,337 6,175
2009 1,572 0 0 0 1,572 10,339 79,676 5,415
2010 1,572 0 0 0 1,572 10,016 89,692 4,749
2011 1,572 0 0 0 1,572 9,703 99,395 4,165
2012 1,572 0 0 0 1,572 9,397 108,792 3,651
2013 1,572 0 0 0 1,572 9,100 117,892 3,200
2014 1,572 0 0 0 1,572 8,811 126,703 2,806
2015 1,572 0 0 0 1,572 8,529 135,232 2,458
2016 1,572 0 0 0 1,572 8,255 143,487 2,153
2017 1,572 0 0 0 1,572 7,989 151,476 1,887
SUBTOT 23,580 0 0 0 23,580 151,476 83,167
REMAIN 36,156 0 0 0 36,156 124,628 276,104 12,581
TOTAL 59,736 0 0 0 59,736 276,104 95,748
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 18 BBLS/MO
TENGASCO, INC. TABLE 77
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
HARRISON -C- LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 64,691
FINAL - 1.000000 0.875000 27.29 10.00% - 52,111
REMARKS - 15.00% - 43,235
20.00% - 36,752
25.00% - 31,867
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 760 0 0 665 0 0.000 27.29 0.00
2004 2 723 0 0 632 0 0.000 27.29 0.00
2005 2 686 0 0 601 0 0.000 27.29 0.00
2006 2 652 0 0 570 0 0.000 27.29 0.00
2007 2 619 0 0 542 0 0.000 27.29 0.00
2008 2 588 0 0 515 0 0.000 27.29 0.00
2009 2 559 0 0 489 0 0.000 27.29 0.00
2010 2 531 0 0 464 0 0.000 27.29 0.00
2011 2 505 0 0 442 0 0.000 27.29 0.00
2012 2 479 0 0 419 0 0.000 27.29 0.00
2013 2 455 0 0 398 0 0.000 27.29 0.00
2014 2 433 0 0 379 0 0.000 27.29 0.00
2015 2 410 0 0 359 0 0.000 27.29 0.00
2016 2 391 0 0 342 0 0.000 27.29 0.00
2017 2 371 0 0 324 0 0.000 27.29 0.00
SUB-TOTAL 8,162 0 0 7,141 0 0.000 27.29 0.00
REMAINDER 900 0 0 788 0 0.000 27.29 0.00
TOTAL 9,062 0 0 7,929 0 0.000 27.29 0.00
CUMULATIVE 26,952 0 0
ULTIMATE 36,014 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 18,156 0 0 0 18,156 111 0 18,045
2004 17,248 0 0 0 17,248 105 0 17,143
2005 16,385 0 0 0 16,385 100 0 16,285
2006 15,567 0 0 0 15,567 95 0 15,472
2007 14,788 0 0 0 14,788 90 0 14,698
2008 14,048 0 0 0 14,048 86 0 13,962
2009 13,347 0 0 0 13,347 81 0 13,266
2010 12,678 0 0 0 12,678 78 0 12,600
2011 12,045 0 0 0 12,045 73 0 11,972
2012 11,443 0 0 0 11,443 70 0 11,373
2013 10,871 0 0 0 10,871 66 0 10,805
2014 10,327 0 0 0 10,327 63 0 10,264
2015 9,810 0 0 0 9,810 60 0 9,750
2016 9,321 0 0 0 9,321 57 0 9,264
2017 8,854 0 0 0 8,854 54 0 8,800
SUB-TOT 194,888 0 0 0 194,888 1,189 0 193,699
REMAIN 21,506 0 0 0 21,506 131 0 21,375
TOTAL 216,394 0 0 0 216,394 1,320 0 215,074
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,464 0 0 0 7,464 10,581 10,581 10,078
2004 7,464 0 0 0 7,464 9,679 20,260 8,346
2005 7,464 0 0 0 7,464 8,821 29,081 6,885
2006 7,464 0 0 0 7,464 8,008 37,089 5,658
2007 7,464 0 0 0 7,464 7,234 44,323 4,628
2008 7,464 0 0 0 7,464 6,498 50,821 3,762
2009 7,464 0 0 0 7,464 5,802 56,623 3,041
2010 7,464 0 0 0 7,464 5,136 61,759 2,437
2011 7,464 0 0 0 7,464 4,508 66,267 1,937
2012 7,464 0 0 0 7,464 3,909 70,176 1,520
2013 7,464 0 0 0 7,464 3,341 73,517 1,177
2014 7,464 0 0 0 7,464 2,800 76,317 892
2015 7,464 0 0 0 7,464 2,286 78,603 660
2016 7,464 0 0 0 7,464 1,800 80,403 470
2017 7,464 0 0 0 7,464 1,336 81,739 317
SUBTOT 111,960 0 0 0 111,960 81,739 51,808
REMAIN 19,904 0 0 0 19,904 1,471 83,210 303
TOTAL 131,864 0 0 0 131,864 83,210 52,111
LIFE OF EVALUATION IS 17.67 YEARS.
FINAL PRODUCTION RATE: 26 BBLS/MO
TENGASCO, INC. TABLE 78
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 13-T10S-R18W PROVED
JACO LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 462,327
FINAL - 1.000000 0.875000 27.29 10.00% - 337,020
REMARKS - 15.00% - 262,887
20.00% - 214,853
25.00% - 181,494
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 2,869 0 0 2,510 0 0.000 27.29 0.00
2004 4 2,731 0 0 2,390 0 0.000 27.29 0.00
2005 4 2,600 0 0 2,275 0 0.000 27.29 0.00
2006 4 2,475 0 0 2,166 0 0.000 27.29 0.00
2007 4 2,357 0 0 2,062 0 0.000 27.29 0.00
2008 4 2,243 0 0 1,963 0 0.000 27.29 0.00
2009 4 2,136 0 0 1,868 0 0.000 27.29 0.00
2010 4 2,033 0 0 1,779 0 0.000 27.29 0.00
2011 4 1,935 0 0 1,694 0 0.000 27.29 0.00
2012 4 1,843 0 0 1,612 0 0.000 27.29 0.00
2013 4 1,754 0 0 1,535 0 0.000 27.29 0.00
2014 4 1,670 0 0 1,462 0 0.000 27.29 0.00
2015 4 1,590 0 0 1,391 0 0.000 27.29 0.00
2016 4 1,514 0 0 1,324 0 0.000 27.29 0.00
2017 4 1,441 0 0 1,261 0 0.000 27.29 0.00
SUB-TOTAL 31,191 0 0 27,292 0 0.000 27.29 0.00
REMAINDER 17,168 0 0 15,022 0 0.000 27.29 0.00
TOTAL 48,359 0 0 42,314 0 0.000 27.29 0.00
CUMULATIVE 119,712 0 0
ULTIMATE 168,071 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 68,505 0 0 0 68,505 418 0 68,087
2004 65,216 0 0 0 65,216 398 0 64,818
2005 62,087 0 0 0 62,087 378 0 61,709
2006 59,106 0 0 0 59,106 361 0 58,745
2007 56,269 0 0 0 56,269 343 0 55,926
2008 53,568 0 0 0 53,568 327 0 53,241
2009 50,997 0 0 0 50,997 311 0 50,686
2010 48,548 0 0 0 48,548 296 0 48,252
2011 46,219 0 0 0 46,219 282 0 45,937
2012 44,000 0 0 0 44,000 269 0 43,731
2013 41,888 0 0 0 41,888 255 0 41,633
2014 39,878 0 0 0 39,878 243 0 39,635
2015 37,963 0 0 0 37,963 232 0 37,731
2016 36,141 0 0 0 36,141 220 0 35,921
2017 34,407 0 0 0 34,407 210 0 34,197
SUB-TOT 744,792 0 0 0 744,792 4,543 0 740,249
REMAIN 409,960 0 0 0 409,960 2,501 0 407,459
TOTAL 1,154,752 0 0 0 1,154,752 7,044 0 1,147,708
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 13,296 0 0 0 13,296 54,791 54,791 52,177
2004 13,296 0 0 0 13,296 51,522 106,313 44,414
2005 13,296 0 0 0 13,296 48,413 154,726 37,778
2006 13,296 0 0 0 13,296 45,449 200,175 32,104
2007 13,296 0 0 0 13,296 42,630 242,805 27,259
2008 13,296 0 0 0 13,296 39,945 282,750 23,120
2009 13,296 0 0 0 13,296 37,390 320,140 19,591
2010 13,296 0 0 0 13,296 34,956 355,096 16,580
2011 13,296 0 0 0 13,296 32,641 387,737 14,014
2012 13,296 0 0 0 13,296 30,435 418,172 11,828
2013 13,296 0 0 0 13,296 28,337 446,509 9,970
2014 13,296 0 0 0 13,296 26,339 472,848 8,388
2015 13,296 0 0 0 13,296 24,435 497,283 7,044
2016 13,296 0 0 0 13,296 22,625 519,908 5,905
2017 13,296 0 0 0 13,296 20,901 540,809 4,938
SUBTOT 199,440 0 0 0 199,440 540,809 315,110
REMAIN 248,192 0 0 0 248,192 159,267 700,076 21,910
TOTAL 447,632 0 0 0 447,632 700,076 337,020
LIFE OF EVALUATION IS 33.67 YEARS.
FINAL PRODUCTION RATE: 47 BBLS/MO
TENGASCO, INC. TABLE 79
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLAINVILLE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 12-T10S-R18W PROVED
ROSS LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 199,232
FINAL - 1.000000 0.875000 27.29 10.00% - 154,644
REMARKS - 15.00% - 125,330
20.00% - 104,961
25.00% - 90,136
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 1,544 0 0 1,351 0 0.000 27.29 0.00
2004 2 1,443 0 0 1,262 0 0.000 27.29 0.00
2005 2 1,349 0 0 1,181 0 0.000 27.29 0.00
2006 2 1,262 0 0 1,104 0 0.000 27.29 0.00
2007 2 1,180 0 0 1,032 0 0.000 27.29 0.00
2008 2 1,103 0 0 965 0 0.000 27.29 0.00
2009 2 1,031 0 0 903 0 0.000 27.29 0.00
2010 2 964 0 0 844 0 0.000 27.29 0.00
2011 2 902 0 0 789 0 0.000 27.29 0.00
2012 2 843 0 0 737 0 0.000 27.29 0.00
2013 2 788 0 0 690 0 0.000 27.29 0.00
2014 2 737 0 0 645 0 0.000 27.29 0.00
2015 2 689 0 0 603 0 0.000 27.29 0.00
2016 2 644 0 0 563 0 0.000 27.29 0.00
2017 2 603 0 0 527 0 0.000 27.29 0.00
SUB-TOTAL 15,082 0 0 13,196 0 0.000 27.29 0.00
REMAINDER 3,959 0 0 3,465 0 0.000 27.29 0.00
TOTAL 19,041 0 0 16,661 0 0.000 27.29 0.00
CUMULATIVE 72,552 0 0
ULTIMATE 91,593 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 36,858 0 0 0 36,858 225 0 36,633
2004 34,462 0 0 0 34,462 210 0 34,252
2005 32,222 0 0 0 32,222 197 0 32,025
2006 30,128 0 0 0 30,128 183 0 29,945
2007 28,170 0 0 0 28,170 172 0 27,998
2008 26,338 0 0 0 26,338 161 0 26,177
2009 24,627 0 0 0 24,627 150 0 24,477
2010 23,025 0 0 0 23,025 141 0 22,884
2011 21,529 0 0 0 21,529 131 0 21,398
2012 20,130 0 0 0 20,130 123 0 20,007
2013 18,821 0 0 0 18,821 114 0 18,707
2014 17,598 0 0 0 17,598 108 0 17,490
2015 16,454 0 0 0 16,454 100 0 16,354
2016 15,385 0 0 0 15,385 94 0 15,291
2017 14,384 0 0 0 14,384 88 0 14,296
SUB-TOT 360,131 0 0 0 360,131 2,197 0 357,934
REMAIN 94,542 0 0 0 94,542 577 0 93,965
TOTAL 454,673 0 0 0 454,673 2,774 0 451,899
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,488 0 0 0 7,488 29,145 29,145 27,760
2004 7,488 0 0 0 7,488 26,764 55,909 23,076
2005 7,488 0 0 0 7,488 24,537 80,446 19,151
2006 7,488 0 0 0 7,488 22,457 102,903 15,866
2007 7,488 0 0 0 7,488 20,510 123,413 13,118
2008 7,488 0 0 0 7,488 18,689 142,102 10,820
2009 7,488 0 0 0 7,488 16,989 159,091 8,904
2010 7,488 0 0 0 7,488 15,396 174,487 7,304
2011 7,488 0 0 0 7,488 13,910 188,397 5,974
2012 7,488 0 0 0 7,488 12,519 200,916 4,867
2013 7,488 0 0 0 7,488 11,219 212,135 3,948
2014 7,488 0 0 0 7,488 10,002 222,137 3,187
2015 7,488 0 0 0 7,488 8,866 231,003 2,557
2016 7,488 0 0 0 7,488 7,803 238,806 2,037
2017 7,488 0 0 0 7,488 6,808 245,614 1,609
SUBTOT 112,320 0 0 0 112,320 245,614 150,178
REMAIN 68,016 0 0 0 68,016 25,949 271,563 4,466
TOTAL 180,336 0 0 0 180,336 271,563 154,644
LIFE OF EVALUATION IS 24.08 YEARS.
FINAL PRODUCTION RATE: 26 BBLS/MO
TENGASCO, INC. TABLE 80
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
BASGALL -C- #4 (DOVER) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 13
ULTIMATE 0 0 13
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 81
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 22-T13S-R20W PROVED
HONAS #3 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820310 27.29 5.00% - 1,651
FINAL - 1.000000 0.820310 27.29 10.00% - 1,583
REMARKS - 15.00% - 1,520
20.00% - 1,461
25.00% - 1,405
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 384 0 0 315 0 0.000 27.29 0.00
2004 1 361 0 0 296 0 0.000 27.29 0.00
2005 1 228 0 0 188 0 0.000 27.29 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 973 0 0 799 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 973 0 0 799 0 0.000 27.29 0.00
CUMULATIVE 66,108 0 0
ULTIMATE 67,081 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 8,596 0 0 0 8,596 52 0 8,544
2004 8,081 0 0 0 8,081 50 0 8,031
2005 5,116 0 0 0 5,116 31 0 5,085
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 21,793 0 0 0 21,793 133 0 21,660
REMAIN 0 0 0 0 0 0 0 0
TOTAL 21,793 0 0 0 21,793 133 0 21,660
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,476 0 0 0 7,476 1,068 1,068 1,021
2004 7,476 0 0 0 7,476 555 1,623 481
2005 4,984 0 0 0 4,984 101 1,724 81
2006 0 0 0 0 0 0 1,724 0
2007 0 0 0 0 0 0 1,724 0
2008 0 0 0 0 0 0 1,724 0
2009 0 0 0 0 0 0 1,724 0
2010 0 0 0 0 0 0 1,724 0
2011 0 0 0 0 0 0 1,724 0
2012 0 0 0 0 0 0 1,724 0
2013 0 0 0 0 0 0 1,724 0
2014 0 0 0 0 0 0 1,724 0
2015 0 0 0 0 0 0 1,724 0
2016 0 0 0 0 0 0 1,724 0
2017 0 0 0 0 0 0 1,724 0
SUBTOT 19,936 0 0 0 19,936 1,724 1,583
REMAIN 0 0 0 0 0 0 1,724 0
TOTAL 19,936 0 0 0 19,936 1,724 1,583
LIFE OF EVALUATION IS 2.67 YEARS.
FINAL PRODUCTION RATE: 28 BBLS/MO
TENGASCO, INC. TABLE 82
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN -K- #5 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 81,744
FINAL - 1.000000 0.875000 27.29 10.00% - 58,649
REMARKS - 15.00% - 45,076
20.00% - 36,414
25.00% - 30,495
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 447 0 0 391 0 0.000 27.29 0.00
2004 1 429 0 0 375 0 0.000 27.29 0.00
2005 1 412 0 0 361 0 0.000 27.29 0.00
2006 1 395 0 0 346 0 0.000 27.29 0.00
2007 1 379 0 0 332 0 0.000 27.29 0.00
2008 1 365 0 0 318 0 0.000 27.29 0.00
2009 1 349 0 0 306 0 0.000 27.29 0.00
2010 1 336 0 0 294 0 0.000 27.29 0.00
2011 1 323 0 0 282 0 0.000 27.29 0.00
2012 1 309 0 0 271 0 0.000 27.29 0.00
2013 1 297 0 0 260 0 0.000 27.29 0.00
2014 1 285 0 0 249 0 0.000 27.29 0.00
2015 1 274 0 0 240 0 0.000 27.29 0.00
2016 1 263 0 0 230 0 0.000 27.29 0.00
2017 1 252 0 0 221 0 0.000 27.29 0.00
SUB-TOTAL 5,115 0 0 4,476 0 0.000 27.29 0.00
REMAINDER 1,940 0 0 1,697 0 0.000 27.29 0.00
TOTAL 7,055 0 0 6,173 0 0.000 27.29 0.00
CUMULATIVE 24,417 0 0
ULTIMATE 31,472 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 10,669 0 0 0 10,669 65 0 10,604
2004 10,243 0 0 0 10,243 63 0 10,180
2005 9,833 0 0 0 9,833 60 0 9,773
2006 9,440 0 0 0 9,440 57 0 9,383
2007 9,062 0 0 0 9,062 55 0 9,007
2008 8,699 0 0 0 8,699 53 0 8,646
2009 8,352 0 0 0 8,352 51 0 8,301
2010 8,018 0 0 0 8,018 49 0 7,969
2011 7,696 0 0 0 7,696 47 0 7,649
2012 7,389 0 0 0 7,389 45 0 7,344
2013 7,094 0 0 0 7,094 44 0 7,050
2014 6,809 0 0 0 6,809 41 0 6,768
2015 6,538 0 0 0 6,538 40 0 6,498
2016 6,275 0 0 0 6,275 38 0 6,237
2017 6,025 0 0 0 6,025 37 0 5,988
SUB-TOT 122,142 0 0 0 122,142 745 0 121,397
REMAIN 46,323 0 0 0 46,323 283 0 46,040
TOTAL 168,465 0 0 0 168,465 1,028 0 167,437
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,740 0 0 0 1,740 8,864 8,864 8,440
2004 1,740 0 0 0 1,740 8,440 17,304 7,275
2005 1,740 0 0 0 1,740 8,033 25,337 6,268
2006 1,740 0 0 0 1,740 7,643 32,980 5,398
2007 1,740 0 0 0 1,740 7,267 40,247 4,646
2008 1,740 0 0 0 1,740 6,906 47,153 3,997
2009 1,740 0 0 0 1,740 6,561 53,714 3,437
2010 1,740 0 0 0 1,740 6,229 59,943 2,954
2011 1,740 0 0 0 1,740 5,909 65,852 2,537
2012 1,740 0 0 0 1,740 5,604 71,456 2,178
2013 1,740 0 0 0 1,740 5,310 76,766 1,868
2014 1,740 0 0 0 1,740 5,028 81,794 1,601
2015 1,740 0 0 0 1,740 4,758 86,552 1,371
2016 1,740 0 0 0 1,740 4,497 91,049 1,173
2017 1,740 0 0 0 1,740 4,248 95,297 1,004
SUBTOT 26,100 0 0 0 26,100 95,297 54,147
REMAIN 16,461 0 0 0 16,461 29,579 124,876 4,502
TOTAL 42,561 0 0 0 42,561 124,876 58,649
LIFE OF EVALUATION IS 24.46 YEARS.
FINAL PRODUCTION RATE: 14 BBLS/MO
TENGASCO, INC. TABLE 83
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN -K- #5 BP (DOVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 119,225
FINAL - 1.000000 0.875000 4.13 10.00% - 99,520
REMARKS - 15.00% - 83,451
20.00% - 70,281
25.00% - 59,434
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 21 0 0 17.074 0.00 4.13
2006 1 0 0 10 0 0 8.099 0.00 4.13
2007 1 0 0 9 0 0 6.821 0.00 4.13
2008 1 0 0 7 0 0 5.745 0.00 4.13
2009 1 0 0 3 0 0 2.530 0.00 4.13
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 50 0 0 40.269 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 50 0 0 40.269 0.00 4.13
CUMULATIVE 0 0 0 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 50 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 70,515 0 70,515 0 1,255 69,260
2006 0 0 33,448 0 33,448 0 596 32,852
2007 0 0 28,170 0 28,170 0 501 27,669
2008 0 0 23,725 0 23,725 0 422 23,303
2009 0 0 10,447 0 10,447 0 186 10,261
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 166,305 0 166,305 0 2,960 163,345
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 166,305 0 166,305 0 2,960 163,345
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,740 0 12,000 0 13,740 55,520 55,520 43,393
2006 1,740 0 0 0 1,740 31,112 86,632 21,998
2007 1,740 0 0 0 1,740 25,929 112,561 16,595
2008 1,740 0 0 0 1,740 21,563 134,124 12,494
2009 872 0 0 0 872 9,389 143,513 5,040
2010 0 0 0 0 0 0 143,513 0
2011 0 0 0 0 0 0 143,513 0
2012 0 0 0 0 0 0 143,513 0
2013 0 0 0 0 0 0 143,513 0
2014 0 0 0 0 0 0 143,513 0
2015 0 0 0 0 0 0 143,513 0
2016 0 0 0 0 0 0 143,513 0
2017 0 0 0 0 0 0 143,513 0
SUBTOT 7,832 0 12,000 0 19,832 143,513 99,520
REMAIN 0 0 0 0 0 0 143,513 0
TOTAL 7,832 0 12,000 0 19,832 143,513 99,520
LIFE OF EVALUATION IS 6.50 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 84
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #1, 2 & 5 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 310,809
FINAL - 1.000000 0.875000 27.29 10.00% - 234,981
REMARKS - 15.00% - 187,311
20.00% - 155,187
25.00% - 132,293
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 2,167 0 0 1,896 0 0.000 27.29 0.00
2004 3 2,041 0 0 1,786 0 0.000 27.29 0.00
2005 3 1,922 0 0 1,682 0 0.000 27.29 0.00
2006 3 1,811 0 0 1,585 0 0.000 27.29 0.00
2007 3 1,706 0 0 1,492 0 0.000 27.29 0.00
2008 3 1,607 0 0 1,407 0 0.000 27.29 0.00
2009 3 1,514 0 0 1,324 0 0.000 27.29 0.00
2010 3 1,426 0 0 1,248 0 0.000 27.29 0.00
2011 3 1,344 0 0 1,175 0 0.000 27.29 0.00
2012 3 1,265 0 0 1,108 0 0.000 27.29 0.00
2013 3 1,192 0 0 1,043 0 0.000 27.29 0.00
2014 3 1,123 0 0 982 0 0.000 27.29 0.00
2015 3 1,058 0 0 926 0 0.000 27.29 0.00
2016 3 996 0 0 872 0 0.000 27.29 0.00
2017 3 939 0 0 821 0 0.000 27.29 0.00
SUB-TOTAL 22,111 0 0 19,347 0 0.000 27.29 0.00
REMAINDER 8,234 0 0 7,205 0 0.000 27.29 0.00
TOTAL 30,345 0 0 26,552 0 0.000 27.29 0.00
CUMULATIVE 79,145 0 0
ULTIMATE 109,490 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 51,736 0 0 0 51,736 316 0 51,420
2004 48,736 0 0 0 48,736 297 0 48,439
2005 45,909 0 0 0 45,909 280 0 45,629
2006 43,246 0 0 0 43,246 264 0 42,982
2007 40,738 0 0 0 40,738 248 0 40,490
2008 38,375 0 0 0 38,375 234 0 38,141
2009 36,150 0 0 0 36,150 221 0 35,929
2010 34,053 0 0 0 34,053 208 0 33,845
2011 32,077 0 0 0 32,077 195 0 31,882
2012 30,217 0 0 0 30,217 185 0 30,032
2013 28,465 0 0 0 28,465 173 0 28,292
2014 26,814 0 0 0 26,814 164 0 26,650
2015 25,258 0 0 0 25,258 154 0 25,104
2016 23,794 0 0 0 23,794 145 0 23,649
2017 22,413 0 0 0 22,413 137 0 22,276
SUB-TOT 527,981 0 0 0 527,981 3,221 0 524,760
REMAIN 196,611 0 0 0 196,611 1,199 0 195,412
TOTAL 724,592 0 0 0 724,592 4,420 0 720,172
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,936 0 0 0 9,936 41,484 41,484 39,509
2004 9,936 0 0 0 9,936 38,503 79,987 33,195
2005 9,936 0 0 0 9,936 35,693 115,680 27,855
2006 9,936 0 0 0 9,936 33,046 148,726 23,346
2007 9,936 0 0 0 9,936 30,554 179,280 19,539
2008 9,936 0 0 0 9,936 28,205 207,485 16,328
2009 9,936 0 0 0 9,936 25,993 233,478 13,621
2010 9,936 0 0 0 9,936 23,909 257,387 11,341
2011 9,936 0 0 0 9,936 21,946 279,333 9,424
2012 9,936 0 0 0 9,936 20,096 299,429 7,811
2013 9,936 0 0 0 9,936 18,356 317,785 6,460
2014 9,936 0 0 0 9,936 16,714 334,499 5,323
2015 9,936 0 0 0 9,936 15,168 349,667 4,374
2016 9,936 0 0 0 9,936 13,713 363,380 3,579
2017 9,936 0 0 0 9,936 12,340 375,720 2,916
SUBTOT 149,040 0 0 0 149,040 375,720 224,621
REMAIN 129,168 0 0 0 129,168 66,244 441,964 10,360
TOTAL 278,208 0 0 0 278,208 441,964 234,981
LIFE OF EVALUATION IS 28.00 YEARS.
FINAL PRODUCTION RATE: 35 BBLS/MO
TENGASCO, INC. TABLE 85
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #6 PUD (KSSC-LNSG) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 283,290
FINAL - 1.000000 0.875000 27.29 10.00% - 174,722
REMARKS - 15.00% - 113,229
20.00% - 75,836
25.00% - 51,724
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 2,028 0 0 1,775 0 0.000 27.29 0.00
2005 1 2,449 0 0 2,142 0 0.000 27.29 0.00
2006 1 1,657 0 0 1,451 0 0.000 27.29 0.00
2007 1 1,591 0 0 1,391 0 0.000 27.29 0.00
2008 1 1,526 0 0 1,336 0 0.000 27.29 0.00
2009 1 1,465 0 0 1,281 0 0.000 27.29 0.00
2010 1 1,405 0 0 1,230 0 0.000 27.29 0.00
2011 1 1,348 0 0 1,179 0 0.000 27.29 0.00
2012 1 1,294 0 0 1,132 0 0.000 27.29 0.00
2013 1 1,241 0 0 1,086 0 0.000 27.29 0.00
2014 1 1,191 0 0 1,042 0 0.000 27.29 0.00
2015 1 1,143 0 0 1,000 0 0.000 27.29 0.00
2016 1 1,096 0 0 960 0 0.000 27.29 0.00
2017 1 1,052 0 0 920 0 0.000 27.29 0.00
SUB-TOTAL 20,486 0 0 17,925 0 0.000 27.29 0.00
REMAINDER 7,509 0 0 6,570 0 0.000 27.29 0.00
TOTAL 27,995 0 0 24,495 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 27,995 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 48,432 0 0 0 48,432 295 0 48,137
2005 58,464 0 0 0 58,464 357 0 58,107
2006 39,586 0 0 0 39,586 242 0 39,344
2007 37,983 0 0 0 37,983 231 0 37,752
2008 36,444 0 0 0 36,444 223 0 36,221
2009 34,969 0 0 0 34,969 213 0 34,756
2010 33,552 0 0 0 33,552 205 0 33,347
2011 32,194 0 0 0 32,194 196 0 31,998
2012 30,889 0 0 0 30,889 188 0 30,701
2013 29,639 0 0 0 29,639 181 0 29,458
2014 28,438 0 0 0 28,438 174 0 28,264
2015 27,287 0 0 0 27,287 166 0 27,121
2016 26,181 0 0 0 26,181 160 0 26,021
2017 25,121 0 0 0 25,121 153 0 24,968
SUB-TOT 489,179 0 0 0 489,179 2,984 0 486,195
REMAIN 179,296 0 0 0 179,296 1,094 0 178,202
TOTAL 668,475 0 0 0 668,475 4,078 0 664,397
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 1,656 0 100,000 0 101,656 -53,519 -53,519 -46,660
2005 3,312 0 0 0 3,312 54,795 1,276 42,993
2006 3,312 0 0 0 3,312 36,032 37,308 25,448
2007 3,312 0 0 0 3,312 34,440 71,748 22,018
2008 3,312 0 0 0 3,312 32,909 104,657 19,045
2009 3,312 0 0 0 3,312 31,444 136,101 16,473
2010 3,312 0 0 0 3,312 30,035 166,136 14,243
2011 3,312 0 0 0 3,312 28,686 194,822 12,314
2012 3,312 0 0 0 3,312 27,389 222,211 10,642
2013 3,312 0 0 0 3,312 26,146 248,357 9,197
2014 3,312 0 0 0 3,312 24,952 273,309 7,945
2015 3,312 0 0 0 3,312 23,809 297,118 6,862
2016 3,312 0 0 0 3,312 22,709 319,827 5,925
2017 3,312 0 0 0 3,312 21,656 341,483 5,114
SUBTOT 44,712 0 100,000 0 144,712 341,483 151,559
REMAIN 28,718 0 0 0 28,718 149,484 490,967 23,163
TOTAL 73,430 0 100,000 0 173,430 490,967 174,722
LIFE OF EVALUATION IS 23.67 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 86
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
PLEASANT VIEW NW FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 10-T16S-R17W PROVED
URBAN #7 PUD (KSSC-LNSG) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 279,778
FINAL - 1.000000 0.875000 27.29 10.00% - 170,426
REMARKS - 15.00% - 109,087
20.00% - 72,167
25.00% - 48,621
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 1,102 0 0 964 0 0.000 27.29 0.00
2005 1 2,911 0 0 2,548 0 0.000 27.29 0.00
2006 1 1,713 0 0 1,499 0 0.000 27.29 0.00
2007 1 1,608 0 0 1,406 0 0.000 27.29 0.00
2008 1 1,542 0 0 1,349 0 0.000 27.29 0.00
2009 1 1,479 0 0 1,295 0 0.000 27.29 0.00
2010 1 1,420 0 0 1,242 0 0.000 27.29 0.00
2011 1 1,362 0 0 1,192 0 0.000 27.29 0.00
2012 1 1,307 0 0 1,144 0 0.000 27.29 0.00
2013 1 1,254 0 0 1,097 0 0.000 27.29 0.00
2014 1 1,204 0 0 1,053 0 0.000 27.29 0.00
2015 1 1,154 0 0 1,010 0 0.000 27.29 0.00
2016 1 1,108 0 0 970 0 0.000 27.29 0.00
2017 1 1,063 0 0 930 0 0.000 27.29 0.00
SUB-TOTAL 20,227 0 0 17,699 0 0.000 27.29 0.00
REMAINDER 7,768 0 0 6,796 0 0.000 27.29 0.00
TOTAL 27,995 0 0 24,495 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 27,995 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 26,309 0 0 0 26,309 160 0 26,149
2005 69,525 0 0 0 69,525 425 0 69,100
2006 40,904 0 0 0 40,904 249 0 40,655
2007 38,378 0 0 0 38,378 234 0 38,144
2008 36,823 0 0 0 36,823 225 0 36,598
2009 35,332 0 0 0 35,332 215 0 35,117
2010 33,901 0 0 0 33,901 207 0 33,694
2011 32,528 0 0 0 32,528 199 0 32,329
2012 31,210 0 0 0 31,210 190 0 31,020
2013 29,947 0 0 0 29,947 183 0 29,764
2014 28,733 0 0 0 28,733 175 0 28,558
2015 27,570 0 0 0 27,570 168 0 27,402
2016 26,454 0 0 0 26,454 161 0 26,293
2017 25,382 0 0 0 25,382 155 0 25,227
SUB-TOT 482,996 0 0 0 482,996 2,946 0 480,050
REMAIN 185,479 0 0 0 185,479 1,132 0 184,347
TOTAL 668,475 0 0 0 668,475 4,078 0 664,397
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 828 0 100,000 0 100,828 -74,679 -74,679 -62,643
2005 3,312 0 0 0 3,312 65,788 -8,891 51,615
2006 3,312 0 0 0 3,312 37,343 28,452 26,401
2007 3,312 0 0 0 3,312 34,832 63,284 22,268
2008 3,312 0 0 0 3,312 33,286 96,570 19,264
2009 3,312 0 0 0 3,312 31,805 128,375 16,661
2010 3,312 0 0 0 3,312 30,382 158,757 14,408
2011 3,312 0 0 0 3,312 29,017 187,774 12,455
2012 3,312 0 0 0 3,312 27,708 215,482 10,767
2013 3,312 0 0 0 3,312 26,452 241,934 9,304
2014 3,312 0 0 0 3,312 25,246 267,180 8,039
2015 3,312 0 0 0 3,312 24,090 291,270 6,943
2016 3,312 0 0 0 3,312 22,981 314,251 5,996
2017 3,312 0 0 0 3,312 21,915 336,166 5,176
SUBTOT 43,884 0 100,000 0 143,884 336,166 146,654
REMAIN 29,546 0 0 0 29,546 154,801 490,967 23,772
TOTAL 73,430 0 100,000 0 173,430 490,967 170,426
LIFE OF EVALUATION IS 23.92 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 87
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 33-T16S-R16W PROVED
ALLEN #1 A&D (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 460,190
FINAL - 1.000000 0.875000 4.13 10.00% - 315,496
REMARKS - 15.00% - 239,678
20.00% - 193,797
25.00% - 163,123
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 17 0 0 13.500 0.00 4.13
2004 1 0 0 15 0 0 12.285 0.00 4.13
2005 1 0 0 14 0 0 11.179 0.00 4.13
2006 1 0 0 13 0 0 10.173 0.00 4.13
2007 1 0 0 11 0 0 9.504 0.00 4.13
2008 1 0 0 12 0 0 9.124 0.00 4.13
2009 1 0 0 11 0 0 8.759 0.00 4.13
2010 1 0 0 10 0 0 8.409 0.00 4.13
2011 1 0 0 10 0 0 8.072 0.00 4.13
2012 1 0 0 10 0 0 7.749 0.00 4.13
2013 1 0 0 9 0 0 7.439 0.00 4.13
2014 1 0 0 9 0 0 7.142 0.00 4.13
2015 1 0 0 8 0 0 6.856 0.00 4.13
2016 1 0 0 8 0 0 6.582 0.00 4.13
2017 1 0 0 8 0 0 6.319 0.00 4.13
SUB-TOTAL 0 0 165 0 0 133.092 0.00 4.13
REMAINDER 0 0 115 0 0 92.345 0.00 4.13
TOTAL 0 0 280 0 0 225.437 0.00 4.13
CUMULATIVE 0 0 181 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 461 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 55,754 0 55,754 0 992 54,762
2004 0 0 50,736 0 50,736 0 904 49,832
2005 0 0 46,171 0 46,171 0 821 45,350
2006 0 0 42,014 0 42,014 0 748 41,266
2007 0 0 39,252 0 39,252 0 699 38,553
2008 0 0 37,682 0 37,682 0 671 37,011
2009 0 0 36,175 0 36,175 0 644 35,531
2010 0 0 34,728 0 34,728 0 618 34,110
2011 0 0 33,338 0 33,338 0 593 32,745
2012 0 0 32,005 0 32,005 0 570 31,435
2013 0 0 30,725 0 30,725 0 547 30,178
2014 0 0 29,496 0 29,496 0 525 28,971
2015 0 0 28,316 0 28,316 0 504 27,812
2016 0 0 27,183 0 27,183 0 484 26,699
2017 0 0 26,096 0 26,096 0 464 25,632
SUB-TOT 0 0 549,671 0 549,671 0 9,784 539,887
REMAIN 0 0 381,385 0 381,385 0 6,789 374,596
TOTAL 0 0 931,056 0 931,056 0 16,573 914,483
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,168 0 0 0 3,168 51,594 51,594 49,148
2004 3,159 0 0 0 3,159 46,673 98,267 40,247
2005 3,151 0 0 0 3,151 42,199 140,466 32,940
2006 3,144 0 0 0 3,144 38,122 178,588 26,937
2007 3,139 0 0 0 3,139 35,414 214,002 22,640
2008 3,137 0 0 0 3,137 33,874 247,876 19,604
2009 3,134 0 0 0 3,134 32,397 280,273 16,971
2010 3,131 0 0 0 3,131 30,979 311,252 14,691
2011 3,129 0 0 0 3,129 29,616 340,868 12,713
2012 3,127 0 0 0 3,127 28,308 369,176 10,999
2013 3,125 0 0 0 3,125 27,053 396,229 9,516
2014 3,123 0 0 0 3,123 25,848 422,077 8,230
2015 3,120 0 0 0 3,120 24,692 446,769 7,117
2016 3,119 0 0 0 3,119 23,580 470,349 6,152
2017 3,116 0 0 0 3,116 22,516 492,865 5,317
SUBTOT 47,022 0 0 0 47,022 492,865 283,222
REMAIN 71,310 0 0 0 71,310 303,286 796,151 32,274
TOTAL 118,332 0 0 0 118,332 796,151 315,496
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 88
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
ANDRE #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 139 0 0
ULTIMATE 139 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 89
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
APPL #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 77,776
FINAL - 1.000000 0.875000 4.13 10.00% - 51,531
REMARKS - 15.00% - 38,143
20.00% - 30,221
25.00% - 25,023
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.036 0.00 4.13
2004 1 0 0 2 0 0 1.975 0.00 4.13
2005 1 0 0 2 0 0 1.915 0.00 4.13
2006 1 0 0 3 0 0 1.858 0.00 4.13
2007 1 0 0 2 0 0 1.802 0.00 4.13
2008 1 0 0 2 0 0 1.748 0.00 4.13
2009 1 0 0 2 0 0 1.696 0.00 4.13
2010 1 0 0 2 0 0 1.645 0.00 4.13
2011 1 0 0 2 0 0 1.595 0.00 4.13
2012 1 0 0 2 0 0 1.548 0.00 4.13
2013 1 0 0 2 0 0 1.501 0.00 4.13
2014 1 0 0 2 0 0 1.456 0.00 4.13
2015 1 0 0 2 0 0 1.412 0.00 4.13
2016 1 0 0 1 0 0 1.370 0.00 4.13
2017 1 0 0 2 0 0 1.329 0.00 4.13
SUB-TOTAL 0 0 31 0 0 24.886 0.00 4.13
REMAINDER 0 0 27 0 0 21.643 0.00 4.13
TOTAL 0 0 58 0 0 46.529 0.00 4.13
CUMULATIVE 0 0 575 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 633 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 8,407 0 8,407 0 150 8,257
2004 0 0 8,155 0 8,155 0 145 8,010
2005 0 0 7,910 0 7,910 0 141 7,769
2006 0 0 7,673 0 7,673 0 136 7,537
2007 0 0 7,443 0 7,443 0 133 7,310
2008 0 0 7,219 0 7,219 0 128 7,091
2009 0 0 7,003 0 7,003 0 125 6,878
2010 0 0 6,792 0 6,792 0 121 6,671
2011 0 0 6,589 0 6,589 0 117 6,472
2012 0 0 6,392 0 6,392 0 114 6,278
2013 0 0 6,199 0 6,199 0 110 6,089
2014 0 0 6,014 0 6,014 0 107 5,907
2015 0 0 5,833 0 5,833 0 104 5,729
2016 0 0 5,658 0 5,658 0 101 5,557
2017 0 0 5,488 0 5,488 0 97 5,391
SUB-TOT 0 0 102,775 0 102,775 0 1,829 100,946
REMAIN 0 0 89,385 0 89,385 0 1,591 87,794
TOTAL 0 0 192,160 0 192,160 0 3,420 188,740
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,274 0 0 0 1,274 6,983 6,983 6,649
2004 1,274 0 0 0 1,274 6,736 13,719 5,805
2005 1,274 0 0 0 1,274 6,495 20,214 5,067
2006 1,273 0 0 0 1,273 6,264 26,478 4,424
2007 1,273 0 0 0 1,273 6,037 32,515 3,859
2008 1,272 0 0 0 1,272 5,819 38,334 3,367
2009 1,272 0 0 0 1,272 5,606 43,940 2,937
2010 1,272 0 0 0 1,272 5,399 49,339 2,560
2011 1,271 0 0 0 1,271 5,201 54,540 2,233
2012 1,271 0 0 0 1,271 5,007 59,547 1,945
2013 1,271 0 0 0 1,271 4,818 64,365 1,695
2014 1,270 0 0 0 1,270 4,637 69,002 1,476
2015 1,270 0 0 0 1,270 4,459 73,461 1,285
2016 1,270 0 0 0 1,270 4,287 77,748 1,118
2017 1,269 0 0 0 1,269 4,122 81,870 974
SUBTOT 19,076 0 0 0 19,076 81,870 45,394
REMAIN 29,133 0 0 0 29,133 58,661 140,531 6,137
TOTAL 48,209 0 0 0 48,209 140,531 51,531
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 90
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
APPL #2 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 107,768
FINAL - 1.000000 0.820313 4.13 10.00% - 82,678
REMARKS - 15.00% - 66,559
20.00% - 55,538
25.00% - 47,602
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 5 0 0 4.083 0.00 4.13
2004 1 0 0 5 0 0 3.756 0.00 4.13
2005 1 0 0 5 0 0 3.456 0.00 4.13
2006 1 0 0 4 0 0 3.179 0.00 4.13
2007 1 0 0 4 0 0 2.925 0.00 4.13
2008 1 0 0 4 0 0 2.691 0.00 4.13
2009 1 0 0 3 0 0 2.476 0.00 4.13
2010 1 0 0 3 0 0 2.277 0.00 4.13
2011 1 0 0 3 0 0 2.095 0.00 4.13
2012 1 0 0 2 0 0 1.928 0.00 4.13
2013 1 0 0 3 0 0 1.773 0.00 4.13
2014 1 0 0 2 0 0 1.632 0.00 4.13
2015 1 0 0 2 0 0 1.501 0.00 4.13
2016 1 0 0 2 0 0 1.381 0.00 4.13
2017 1 0 0 1 0 0 1.270 0.00 4.13
SUB-TOTAL 0 0 48 0 0 36.423 0.00 4.13
REMAINDER 0 0 9 0 0 6.622 0.00 4.13
TOTAL 0 0 57 0 0 43.045 0.00 4.13
CUMULATIVE 0 0 455 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 512 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 16,861 0 16,861 0 300 16,561
2004 0 0 15,512 0 15,512 0 276 15,236
2005 0 0 14,272 0 14,272 0 254 14,018
2006 0 0 13,129 0 13,129 0 234 12,895
2007 0 0 12,079 0 12,079 0 215 11,864
2008 0 0 11,113 0 11,113 0 198 10,915
2009 0 0 10,224 0 10,224 0 182 10,042
2010 0 0 9,406 0 9,406 0 167 9,239
2011 0 0 8,654 0 8,654 0 154 8,500
2012 0 0 7,961 0 7,961 0 142 7,819
2013 0 0 7,324 0 7,324 0 130 7,194
2014 0 0 6,738 0 6,738 0 120 6,618
2015 0 0 6,200 0 6,200 0 111 6,089
2016 0 0 5,703 0 5,703 0 101 5,602
2017 0 0 5,247 0 5,247 0 94 5,153
SUB-TOT 0 0 150,423 0 150,423 0 2,678 147,745
REMAIN 0 0 27,348 0 27,348 0 486 26,862
TOTAL 0 0 177,771 0 177,771 0 3,164 174,607
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,135 0 0 0 1,135 15,426 15,426 14,694
2004 1,132 0 0 0 1,132 14,104 29,530 12,161
2005 1,130 0 0 0 1,130 12,888 42,418 10,059
2006 1,128 0 0 0 1,128 11,767 54,185 8,313
2007 1,126 0 0 0 1,126 10,738 64,923 6,868
2008 1,125 0 0 0 1,125 9,790 74,713 5,668
2009 1,122 0 0 0 1,122 8,920 83,633 4,675
2010 1,122 0 0 0 1,122 8,117 91,750 3,850
2011 1,119 0 0 0 1,119 7,381 99,131 3,170
2012 1,119 0 0 0 1,119 6,700 105,831 2,605
2013 1,117 0 0 0 1,117 6,077 111,908 2,138
2014 1,117 0 0 0 1,117 5,501 117,409 1,752
2015 1,115 0 0 0 1,115 4,974 122,383 1,435
2016 1,114 0 0 0 1,114 4,488 126,871 1,171
2017 1,114 0 0 0 1,114 4,039 130,910 954
SUBTOT 16,835 0 0 0 16,835 130,910 79,513
REMAIN 8,043 0 0 0 8,043 18,819 149,729 3,165
TOTAL 24,878 0 0 0 24,878 149,729 82,678
LIFE OF EVALUATION IS 22.24 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 91
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 36-T17S-R17W PROVED
BEAHM #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 282 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 282 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 92
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 15-T17S-R17W PROVED
BIEBER #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 53,694
FINAL - 1.000000 0.820313 4.13 10.00% - 42,490
REMARKS - 15.00% - 34,823
20.00% - 29,352
25.00% - 25,299
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.216 0.00 4.13
2004 1 0 0 4 0 0 3.056 0.00 4.13
2005 1 0 0 4 0 0 2.903 0.00 4.13
2006 1 0 0 4 0 0 2.758 0.00 4.13
2007 1 0 0 3 0 0 2.620 0.00 4.13
2008 1 0 0 4 0 0 2.489 0.00 4.13
2009 1 0 0 3 0 0 2.364 0.00 4.13
2010 1 0 0 3 0 0 2.246 0.00 4.13
2011 1 0 0 3 0 0 2.134 0.00 4.13
2012 1 0 0 2 0 0 2.027 0.00 4.13
2013 1 0 0 3 0 0 1.926 0.00 4.13
2014 1 0 0 2 0 0 1.830 0.00 4.13
2015 1 0 0 2 0 0 1.738 0.00 4.13
2016 1 0 0 3 0 0 1.651 0.00 4.13
2017 1 0 0 2 0 0 1.569 0.00 4.13
SUB-TOTAL 0 0 46 0 0 34.527 0.00 4.13
REMAINDER 0 0 9 0 0 6.643 0.00 4.13
TOTAL 0 0 55 0 0 41.170 0.00 4.13
CUMULATIVE 0 0 81 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 136 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 13,284 0 13,284 0 236 13,048
2004 0 0 12,620 0 12,620 0 225 12,395
2005 0 0 11,988 0 11,988 0 213 11,775
2006 0 0 11,390 0 11,390 0 203 11,187
2007 0 0 10,820 0 10,820 0 193 10,627
2008 0 0 10,278 0 10,278 0 183 10,095
2009 0 0 9,765 0 9,765 0 174 9,591
2010 0 0 9,277 0 9,277 0 165 9,112
2011 0 0 8,813 0 8,813 0 157 8,656
2012 0 0 8,372 0 8,372 0 149 8,223
2013 0 0 7,954 0 7,954 0 141 7,813
2014 0 0 7,556 0 7,556 0 135 7,421
2015 0 0 7,178 0 7,178 0 127 7,051
2016 0 0 6,819 0 6,819 0 122 6,697
2017 0 0 6,478 0 6,478 0 115 6,363
SUB-TOT 0 0 142,592 0 142,592 0 2,538 140,054
REMAIN 0 0 27,437 0 27,437 0 489 26,948
TOTAL 0 0 170,029 0 170,029 0 3,027 167,002
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,836 0 0 0 4,836 8,212 8,212 7,822
2004 4,835 0 0 0 4,835 7,560 15,772 6,518
2005 4,834 0 0 0 4,834 6,941 22,713 5,417
2006 4,833 0 0 0 4,833 6,354 29,067 4,489
2007 4,832 0 0 0 4,832 5,795 34,862 3,707
2008 4,831 0 0 0 4,831 5,264 40,126 3,047
2009 4,830 0 0 0 4,830 4,761 44,887 2,496
2010 4,829 0 0 0 4,829 4,283 49,170 2,032
2011 4,828 0 0 0 4,828 3,828 52,998 1,644
2012 4,827 0 0 0 4,827 3,396 56,394 1,320
2013 4,827 0 0 0 4,827 2,986 59,380 1,052
2014 4,825 0 0 0 4,825 2,596 61,976 827
2015 4,825 0 0 0 4,825 2,226 64,202 642
2016 4,825 0 0 0 4,825 1,872 66,074 489
2017 4,824 0 0 0 4,824 1,539 67,613 364
SUBTOT 72,441 0 0 0 72,441 67,613 41,866
REMAIN 23,709 0 0 0 23,709 3,239 70,852 624
TOTAL 96,150 0 0 0 96,150 70,852 42,490
LIFE OF EVALUATION IS 19.92 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 93
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 15-T17S-R17W PROVED
BIEBER -A- #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 126,598
FINAL - 1.000000 0.820313 4.13 10.00% - 86,720
REMARKS - 15.00% - 65,444
20.00% - 52,471
25.00% - 43,788
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 5 0 0 3.552 0.00 4.13
2004 1 0 0 4 0 0 3.410 0.00 4.13
2005 1 0 0 5 0 0 3.274 0.00 4.13
2006 1 0 0 4 0 0 3.143 0.00 4.13
2007 1 0 0 4 0 0 3.017 0.00 4.13
2008 1 0 0 4 0 0 2.896 0.00 4.13
2009 1 0 0 3 0 0 2.780 0.00 4.13
2010 1 0 0 4 0 0 2.669 0.00 4.13
2011 1 0 0 3 0 0 2.562 0.00 4.13
2012 1 0 0 3 0 0 2.460 0.00 4.13
2013 1 0 0 4 0 0 2.362 0.00 4.13
2014 1 0 0 3 0 0 2.267 0.00 4.13
2015 1 0 0 2 0 0 2.176 0.00 4.13
2016 1 0 0 3 0 0 2.089 0.00 4.13
2017 1 0 0 3 0 0 2.006 0.00 4.13
SUB-TOTAL 0 0 54 0 0 40.663 0.00 4.13
REMAINDER 0 0 39 0 0 29.313 0.00 4.13
TOTAL 0 0 93 0 0 69.976 0.00 4.13
CUMULATIVE 0 0 80 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 173 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 14,670 0 14,670 0 261 14,409
2004 0 0 14,083 0 14,083 0 251 13,832
2005 0 0 13,520 0 13,520 0 240 13,280
2006 0 0 12,979 0 12,979 0 231 12,748
2007 0 0 12,460 0 12,460 0 222 12,238
2008 0 0 11,961 0 11,961 0 213 11,748
2009 0 0 11,483 0 11,483 0 205 11,278
2010 0 0 11,024 0 11,024 0 196 10,828
2011 0 0 10,583 0 10,583 0 188 10,395
2012 0 0 10,159 0 10,159 0 181 9,978
2013 0 0 9,753 0 9,753 0 174 9,579
2014 0 0 9,363 0 9,363 0 166 9,197
2015 0 0 8,989 0 8,989 0 160 8,829
2016 0 0 8,628 0 8,628 0 154 8,474
2017 0 0 8,284 0 8,284 0 147 8,137
SUB-TOT 0 0 167,939 0 167,939 0 2,989 164,950
REMAIN 0 0 121,064 0 121,064 0 2,155 118,909
TOTAL 0 0 289,003 0 289,003 0 5,144 283,859
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,791 0 0 0 1,791 12,618 12,618 12,015
2004 1,790 0 0 0 1,790 12,042 24,660 10,379
2005 1,788 0 0 0 1,788 11,492 36,152 8,966
2006 1,788 0 0 0 1,788 10,960 47,112 7,741
2007 1,787 0 0 0 1,787 10,451 57,563 6,682
2008 1,786 0 0 0 1,786 9,962 67,525 5,765
2009 1,785 0 0 0 1,785 9,493 77,018 4,973
2010 1,784 0 0 0 1,784 9,044 86,062 4,289
2011 1,783 0 0 0 1,783 8,612 94,674 3,697
2012 1,783 0 0 0 1,783 8,195 102,869 3,185
2013 1,782 0 0 0 1,782 7,797 110,666 2,742
2014 1,781 0 0 0 1,781 7,416 118,082 2,362
2015 1,780 0 0 0 1,780 7,049 125,131 2,031
2016 1,780 0 0 0 1,780 6,694 131,825 1,747
2017 1,779 0 0 0 1,779 6,358 138,183 1,501
SUBTOT 26,767 0 0 0 26,767 138,183 78,075
REMAIN 40,794 0 0 0 40,794 78,115 216,298 8,645
TOTAL 67,561 0 0 0 67,561 216,298 86,720
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 94
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 34-T17S-R16W PROVED
BRACK -A- #3 (GRANITE WASH) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 813
FINAL - 1.000000 0.875000 4.13 10.00% - 775
REMARKS - 15.00% - 739
20.00% - 706
25.00% - 675
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 1 0 0 0.478 0.00 4.13
2004 1 0 0 0 0 0 0.430 0.00 4.13
2005 1 0 0 1 0 0 0.387 0.00 4.13
2006 1 0 0 0 0 0 0.052 0.00 4.13
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 2 0 0 1.347 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 2 0 0 1.347 0.00 4.13
CUMULATIVE 0 0 30 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 32 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 1,974 0 1,974 0 35 1,939
2004 0 0 1,777 0 1,777 0 32 1,745
2005 0 0 1,599 0 1,599 0 28 1,571
2006 0 0 216 0 216 0 4 212
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 5,566 0 5,566 0 99 5,467
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 5,566 0 5,566 0 99 5,467
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,467 0 0 0 1,467 472 472 451
2004 1,467 0 0 0 1,467 278 750 241
2005 1,467 0 0 0 1,467 104 854 82
2006 210 0 0 0 210 2 856 1
2007 0 0 0 0 0 0 856 0
2008 0 0 0 0 0 0 856 0
2009 0 0 0 0 0 0 856 0
2010 0 0 0 0 0 0 856 0
2011 0 0 0 0 0 0 856 0
2012 0 0 0 0 0 0 856 0
2013 0 0 0 0 0 0 856 0
2014 0 0 0 0 0 0 856 0
2015 0 0 0 0 0 0 856 0
2016 0 0 0 0 0 0 856 0
2017 0 0 0 0 0 0 856 0
SUBTOT 4,611 0 0 0 4,611 856 775
REMAIN 0 0 0 0 0 0 856 0
TOTAL 4,611 0 0 0 4,611 856 775
LIFE OF EVALUATION IS 3.14 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 95
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T16S-R17W PROVED
BREIT #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 49,822
FINAL - 1.000000 0.875000 4.13 10.00% - 32,846
REMARKS - 15.00% - 24,236
20.00% - 19,164
25.00% - 15,846
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 1.334 0.00 4.13
2004 1 0 0 1 0 0 1.298 0.00 4.13
2005 1 0 0 2 0 0 1.263 0.00 4.13
2006 1 0 0 1 0 0 1.228 0.00 4.13
2007 1 0 0 2 0 0 1.195 0.00 4.13
2008 1 0 0 1 0 0 1.163 0.00 4.13
2009 1 0 0 2 0 0 1.131 0.00 4.13
2010 1 0 0 1 0 0 1.100 0.00 4.13
2011 1 0 0 1 0 0 1.070 0.00 4.13
2012 1 0 0 2 0 0 1.041 0.00 4.13
2013 1 0 0 1 0 0 1.013 0.00 4.13
2014 1 0 0 1 0 0 0.985 0.00 4.13
2015 1 0 0 1 0 0 0.958 0.00 4.13
2016 1 0 0 2 0 0 0.932 0.00 4.13
2017 1 0 0 1 0 0 0.907 0.00 4.13
SUB-TOTAL 0 0 21 0 0 16.618 0.00 4.13
REMAINDER 0 0 19 0 0 15.233 0.00 4.13
TOTAL 0 0 40 0 0 31.851 0.00 4.13
CUMULATIVE 23 0 33 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 23 0 73 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 5,511 0 5,511 0 98 5,413
2004 0 0 5,361 0 5,361 0 96 5,265
2005 0 0 5,215 0 5,215 0 92 5,123
2006 0 0 5,073 0 5,073 0 91 4,982
2007 0 0 4,935 0 4,935 0 87 4,848
2008 0 0 4,801 0 4,801 0 86 4,715
2009 0 0 4,671 0 4,671 0 83 4,588
2010 0 0 4,544 0 4,544 0 81 4,463
2011 0 0 4,420 0 4,420 0 79 4,341
2012 0 0 4,300 0 4,300 0 76 4,224
2013 0 0 4,183 0 4,183 0 75 4,108
2014 0 0 4,069 0 4,069 0 72 3,997
2015 0 0 3,959 0 3,959 0 71 3,888
2016 0 0 3,850 0 3,850 0 68 3,782
2017 0 0 3,747 0 3,747 0 67 3,680
SUB-TOT 0 0 68,639 0 68,639 0 1,222 67,417
REMAIN 0 0 62,913 0 62,913 0 1,120 61,793
TOTAL 0 0 131,552 0 131,552 0 2,342 129,210
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,017 0 0 0 1,017 4,396 4,396 4,185
2004 1,018 0 0 0 1,018 4,247 8,643 3,661
2005 1,017 0 0 0 1,017 4,106 12,749 3,203
2006 1,016 0 0 0 1,016 3,966 16,715 2,801
2007 1,017 0 0 0 1,017 3,831 20,546 2,449
2008 1,016 0 0 0 1,016 3,699 24,245 2,140
2009 1,016 0 0 0 1,016 3,572 27,817 1,871
2010 1,016 0 0 0 1,016 3,447 31,264 1,635
2011 1,015 0 0 0 1,015 3,326 34,590 1,427
2012 1,016 0 0 0 1,016 3,208 37,798 1,247
2013 1,015 0 0 0 1,015 3,093 40,891 1,088
2014 1,015 0 0 0 1,015 2,982 43,873 949
2015 1,015 0 0 0 1,015 2,873 46,746 828
2016 1,014 0 0 0 1,014 2,768 49,514 722
2017 1,015 0 0 0 1,015 2,665 52,179 629
SUBTOT 15,238 0 0 0 15,238 52,179 28,835
REMAIN 23,280 0 0 0 23,280 38,513 90,692 4,011
TOTAL 38,518 0 0 0 38,518 90,692 32,846
LIFE OF EVALUATION IS 37.99 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 96
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 7-T16S-R17W PROVED
BREIT-HOLZMEISTER -B- (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.861328 27.29 5.00% - 32,684
FINAL - 1.000000 0.861328 27.29 10.00% - 27,481
REMARKS - 15.00% - 23,435
20.00% - 20,251
25.00% - 17,713
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 282 0 0 243 0 0.000 27.29 0.00
2004 1 271 0 0 233 0 0.000 27.29 0.00
2005 1 260 0 0 224 0 0.000 27.29 0.00
2006 1 250 0 0 215 0 0.000 27.29 0.00
2007 1 240 0 0 207 0 0.000 27.29 0.00
2008 1 230 0 0 198 0 0.000 27.29 0.00
2009 1 221 0 0 190 0 0.000 27.29 0.00
2010 1 212 0 0 183 0 0.000 27.29 0.00
2011 1 86 0 0 74 0 0.000 27.29 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 2,052 0 0 1,767 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 2,052 0 0 1,767 0 0.000 27.29 0.00
CUMULATIVE 14,236 0 0
ULTIMATE 16,288 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 6,633 0 0 0 6,633 40 0 6,593
2004 6,368 0 0 0 6,368 39 0 6,329
2005 6,114 0 0 0 6,114 38 0 6,076
2006 5,868 0 0 0 5,868 35 0 5,833
2007 5,634 0 0 0 5,634 35 0 5,599
2008 5,409 0 0 0 5,409 33 0 5,376
2009 5,192 0 0 0 5,192 31 0 5,161
2010 4,985 0 0 0 4,985 31 0 4,954
2011 2,031 0 0 0 2,031 12 0 2,019
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 48,234 0 0 0 48,234 294 0 47,940
REMAIN 0 0 0 0 0 0 0 0
TOTAL 48,234 0 0 0 48,234 294 0 47,940
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,008 0 0 0 1,008 5,585 5,585 5,318
2004 1,008 0 0 0 1,008 5,321 10,906 4,586
2005 1,008 0 0 0 1,008 5,068 15,974 3,955
2006 1,008 0 0 0 1,008 4,825 20,799 3,407
2007 1,008 0 0 0 1,008 4,591 25,390 2,936
2008 1,008 0 0 0 1,008 4,368 29,758 2,528
2009 1,008 0 0 0 1,008 4,153 33,911 2,175
2010 1,008 0 0 0 1,008 3,946 37,857 1,872
2011 423 0 0 0 423 1,596 39,453 704
2012 0 0 0 0 0 0 39,453 0
2013 0 0 0 0 0 0 39,453 0
2014 0 0 0 0 0 0 39,453 0
2015 0 0 0 0 0 0 39,453 0
2016 0 0 0 0 0 0 39,453 0
2017 0 0 0 0 0 0 39,453 0
SUBTOT 8,487 0 0 0 8,487 39,453 27,481
REMAIN 0 0 0 0 0 0 39,453 0
TOTAL 8,487 0 0 0 8,487 39,453 27,481
LIFE OF EVALUATION IS 8.42 YEARS.
FINAL PRODUCTION RATE: 17 BBLS/MO
TENGASCO, INC. TABLE 97
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T17S-R16W PROVED
DECKER -A- #1 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.868164 4.13 5.00% - 354,306
FINAL - 1.000000 0.868164 4.13 10.00% - 248,657
REMARKS - 15.00% - 187,575
20.00% - 149,344
25.00% - 123,709
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 12 0 0 9.234 0.00 4.13
2004 1 0 0 11 0 0 8.957 0.00 4.13
2005 1 0 0 11 0 0 8.688 0.00 4.13
2006 1 0 0 10 0 0 8.427 0.00 4.13
2007 1 0 0 10 0 0 8.175 0.00 4.13
2008 1 0 0 10 0 0 7.929 0.00 4.13
2009 1 0 0 10 0 0 7.691 0.00 4.13
2010 1 0 0 9 0 0 7.461 0.00 4.13
2011 1 0 0 9 0 0 7.237 0.00 4.13
2012 1 0 0 9 0 0 7.020 0.00 4.13
2013 1 0 0 9 0 0 6.809 0.00 4.13
2014 1 0 0 8 0 0 6.605 0.00 4.13
2015 1 0 0 8 0 0 6.407 0.00 4.13
2016 1 0 0 8 0 0 6.215 0.00 4.13
2017 1 0 0 7 0 0 6.028 0.00 4.13
SUB-TOTAL 0 0 141 0 0 112.883 0.00 4.13
REMAINDER 0 0 52 0 0 41.498 0.00 4.13
TOTAL 0 0 193 0 0 154.381 0.00 4.13
CUMULATIVE 0 0 553 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 746 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 38,135 0 38,135 0 679 37,456
2004 0 0 36,992 0 36,992 0 658 36,334
2005 0 0 35,882 0 35,882 0 639 35,243
2006 0 0 34,805 0 34,805 0 619 34,186
2007 0 0 33,761 0 33,761 0 601 33,160
2008 0 0 32,748 0 32,748 0 583 32,165
2009 0 0 31,766 0 31,766 0 566 31,200
2010 0 0 30,813 0 30,813 0 548 30,265
2011 0 0 29,888 0 29,888 0 532 29,356
2012 0 0 28,992 0 28,992 0 516 28,476
2013 0 0 28,122 0 28,122 0 501 27,621
2014 0 0 27,278 0 27,278 0 485 26,793
2015 0 0 26,460 0 26,460 0 471 25,989
2016 0 0 25,666 0 25,666 0 457 25,209
2017 0 0 24,897 0 24,897 0 443 24,454
SUB-TOT 0 0 466,205 0 466,205 0 8,298 457,907
REMAIN 0 0 171,388 0 171,388 0 3,051 168,337
TOTAL 0 0 637,593 0 637,593 0 11,349 626,244
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,210 0 0 0 3,210 34,246 34,246 32,605
2004 3,208 0 0 0 3,208 33,126 67,372 28,549
2005 3,206 0 0 0 3,206 32,037 99,409 24,993
2006 3,204 0 0 0 3,204 30,982 130,391 21,880
2007 3,202 0 0 0 3,202 29,958 160,349 19,151
2008 3,201 0 0 0 3,201 28,964 189,313 16,760
2009 3,199 0 0 0 3,199 28,001 217,314 14,667
2010 3,197 0 0 0 3,197 27,068 244,382 12,835
2011 3,196 0 0 0 3,196 26,160 270,542 11,228
2012 3,194 0 0 0 3,194 25,282 295,824 9,823
2013 3,192 0 0 0 3,192 24,429 320,253 8,592
2014 3,191 0 0 0 3,191 23,602 343,855 7,514
2015 3,190 0 0 0 3,190 22,799 366,654 6,571
2016 3,189 0 0 0 3,189 22,020 388,674 5,744
2017 3,187 0 0 0 3,187 21,267 409,941 5,022
SUBTOT 47,966 0 0 0 47,966 409,941 225,934
REMAIN 25,008 0 0 0 25,008 143,329 553,270 22,723
TOTAL 72,974 0 0 0 72,974 553,270 248,657
LIFE OF EVALUATION IS 22.86 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 98
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 35-T16S-R17W PROVED
EDWARDS #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 54,867
FINAL - 1.000000 0.875000 4.13 10.00% - 44,602
REMARKS - 15.00% - 37,352
20.00% - 32,031
25.00% - 27,994
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 2.819 0.00 4.13
2004 1 0 0 3 0 0 2.537 0.00 4.13
2005 1 0 0 2 0 0 2.283 0.00 4.13
2006 1 0 0 3 0 0 2.055 0.00 4.13
2007 1 0 0 2 0 0 1.850 0.00 4.13
2008 1 0 0 2 0 0 1.665 0.00 4.13
2009 1 0 0 2 0 0 1.498 0.00 4.13
2010 1 0 0 2 0 0 1.348 0.00 4.13
2011 1 0 0 1 0 0 1.214 0.00 4.13
2012 1 0 0 2 0 0 1.092 0.00 4.13
2013 1 0 0 1 0 0 0.983 0.00 4.13
2014 1 0 0 1 0 0 0.885 0.00 4.13
2015 1 0 0 1 0 0 0.796 0.00 4.13
2016 1 0 0 1 0 0 0.717 0.00 4.13
2017 1 0 0 1 0 0 0.645 0.00 4.13
SUB-TOTAL 0 0 28 0 0 22.387 0.00 4.13
REMAINDER 0 0 3 0 0 2.254 0.00 4.13
TOTAL 0 0 31 0 0 24.641 0.00 4.13
CUMULATIVE 0 0 94 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 125 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 11,643 0 11,643 0 207 11,436
2004 0 0 10,478 0 10,478 0 187 10,291
2005 0 0 9,431 0 9,431 0 168 9,263
2006 0 0 8,487 0 8,487 0 151 8,336
2007 0 0 7,639 0 7,639 0 136 7,503
2008 0 0 6,875 0 6,875 0 122 6,753
2009 0 0 6,187 0 6,187 0 110 6,077
2010 0 0 5,569 0 5,569 0 99 5,470
2011 0 0 5,012 0 5,012 0 90 4,922
2012 0 0 4,510 0 4,510 0 80 4,430
2013 0 0 4,060 0 4,060 0 72 3,988
2014 0 0 3,653 0 3,653 0 65 3,588
2015 0 0 3,288 0 3,288 0 59 3,229
2016 0 0 2,960 0 2,960 0 52 2,908
2017 0 0 2,663 0 2,663 0 48 2,615
SUB-TOT 0 0 92,455 0 92,455 0 1,646 90,809
REMAIN 0 0 9,311 0 9,311 0 165 9,146
TOTAL 0 0 101,766 0 101,766 0 1,811 99,955
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,532 0 0 0 1,532 9,904 9,904 9,436
2004 1,530 0 0 0 1,530 8,761 18,665 7,556
2005 1,528 0 0 0 1,528 7,735 26,400 6,039
2006 1,527 0 0 0 1,527 6,809 33,209 4,813
2007 1,525 0 0 0 1,525 5,978 39,187 3,824
2008 1,524 0 0 0 1,524 5,229 44,416 3,029
2009 1,522 0 0 0 1,522 4,555 48,971 2,388
2010 1,522 0 0 0 1,522 3,948 52,919 1,873
2011 1,520 0 0 0 1,520 3,402 56,321 1,462
2012 1,520 0 0 0 1,520 2,910 59,231 1,132
2013 1,519 0 0 0 1,519 2,469 61,700 869
2014 1,518 0 0 0 1,518 2,070 63,770 660
2015 1,518 0 0 0 1,518 1,711 65,481 494
2016 1,517 0 0 0 1,517 1,391 66,872 363
2017 1,517 0 0 0 1,517 1,098 67,970 260
SUBTOT 22,839 0 0 0 22,839 67,970 44,198
REMAIN 7,071 0 0 0 7,071 2,075 70,045 404
TOTAL 29,910 0 0 0 29,910 70,045 44,602
LIFE OF EVALUATION IS 19.67 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 99
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R16W PROVED
ELDER #19 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 56 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 56 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 100
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T17S-R17W PROVED
FOOS #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 175,318
FINAL - 1.000000 0.820313 4.13 10.00% - 127,321
REMARKS - 15.00% - 99,164
20.00% - 80,996
25.00% - 68,404
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 8 0 0 6.137 0.00 4.13
2004 1 0 0 8 0 0 5.830 0.00 4.13
2005 1 0 0 7 0 0 5.539 0.00 4.13
2006 1 0 0 7 0 0 5.262 0.00 4.13
2007 1 0 0 7 0 0 4.999 0.00 4.13
2008 1 0 0 6 0 0 4.749 0.00 4.13
2009 1 0 0 6 0 0 4.511 0.00 4.13
2010 1 0 0 6 0 0 4.286 0.00 4.13
2011 1 0 0 5 0 0 4.071 0.00 4.13
2012 1 0 0 5 0 0 3.868 0.00 4.13
2013 1 0 0 5 0 0 3.674 0.00 4.13
2014 1 0 0 5 0 0 3.491 0.00 4.13
2015 1 0 0 4 0 0 3.316 0.00 4.13
2016 1 0 0 4 0 0 3.150 0.00 4.13
2017 1 0 0 4 0 0 2.993 0.00 4.13
SUB-TOTAL 0 0 87 0 0 65.876 0.00 4.13
REMAINDER 0 0 49 0 0 36.738 0.00 4.13
TOTAL 0 0 136 0 0 102.614 0.00 4.13
CUMULATIVE 0 0 108 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 244 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 25,345 0 25,345 0 451 24,894
2004 0 0 24,079 0 24,079 0 429 23,650
2005 0 0 22,874 0 22,874 0 407 22,467
2006 0 0 21,730 0 21,730 0 387 21,343
2007 0 0 20,644 0 20,644 0 367 20,277
2008 0 0 19,612 0 19,612 0 349 19,263
2009 0 0 18,631 0 18,631 0 332 18,299
2010 0 0 17,700 0 17,700 0 315 17,385
2011 0 0 16,815 0 16,815 0 299 16,516
2012 0 0 15,973 0 15,973 0 285 15,688
2013 0 0 15,176 0 15,176 0 270 14,906
2014 0 0 14,416 0 14,416 0 256 14,160
2015 0 0 13,696 0 13,696 0 244 13,452
2016 0 0 13,011 0 13,011 0 232 12,779
2017 0 0 12,360 0 12,360 0 220 12,140
SUB-TOT 0 0 272,062 0 272,062 0 4,843 267,219
REMAIN 0 0 151,730 0 151,730 0 2,700 149,030
TOTAL 0 0 423,792 0 423,792 0 7,543 416,249
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,234 0 0 0 4,234 20,660 20,660 19,675
2004 4,232 0 0 0 4,232 19,418 40,078 16,739
2005 4,230 0 0 0 4,230 18,237 58,315 14,230
2006 4,228 0 0 0 4,228 17,115 75,430 12,090
2007 4,226 0 0 0 4,226 16,051 91,481 10,263
2008 4,224 0 0 0 4,224 15,039 106,520 8,705
2009 4,222 0 0 0 4,222 14,077 120,597 7,376
2010 4,220 0 0 0 4,220 13,165 133,762 6,244
2011 4,219 0 0 0 4,219 12,297 146,059 5,280
2012 4,217 0 0 0 4,217 11,471 157,530 4,458
2013 4,216 0 0 0 4,216 10,690 168,220 3,761
2014 4,214 0 0 0 4,214 9,946 178,166 3,167
2015 4,213 0 0 0 4,213 9,239 187,405 2,664
2016 4,212 0 0 0 4,212 8,567 195,972 2,236
2017 4,211 0 0 0 4,211 7,929 203,901 1,873
SUBTOT 63,318 0 0 0 63,318 203,901 118,761
REMAIN 85,084 0 0 0 85,084 63,946 267,847 8,560
TOTAL 148,402 0 0 0 148,402 267,847 127,321
LIFE OF EVALUATION IS 35.25 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 101
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 22-T17S-R17W PROVED
FOOS -A- #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 21,431
FINAL - 1.000000 0.820313 4.13 10.00% - 18,096
REMARKS - 15.00% - 15,549
20.00% - 13,567
25.00% - 11,995
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.299 0.00 4.13
2004 1 0 0 3 0 0 2.184 0.00 4.13
2005 1 0 0 3 0 0 2.075 0.00 4.13
2006 1 0 0 2 0 0 1.971 0.00 4.13
2007 1 0 0 3 0 0 1.873 0.00 4.13
2008 1 0 0 2 0 0 1.779 0.00 4.13
2009 1 0 0 2 0 0 1.690 0.00 4.13
2010 1 0 0 3 0 0 1.606 0.00 4.13
2011 1 0 0 2 0 0 1.525 0.00 4.13
2012 1 0 0 1 0 0 1.449 0.00 4.13
2013 1 0 0 2 0 0 1.377 0.00 4.13
2014 1 0 0 2 0 0 1.308 0.00 4.13
2015 1 0 0 1 0 0 0.835 0.00 4.13
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 29 0 0 21.971 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 29 0 0 21.971 0.00 4.13
CUMULATIVE 0 0 446 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 475 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 9,497 0 9,497 0 169 9,328
2004 0 0 9,021 0 9,021 0 161 8,860
2005 0 0 8,571 0 8,571 0 152 8,419
2006 0 0 8,142 0 8,142 0 145 7,997
2007 0 0 7,735 0 7,735 0 138 7,597
2008 0 0 7,348 0 7,348 0 131 7,217
2009 0 0 6,981 0 6,981 0 124 6,857
2010 0 0 6,632 0 6,632 0 118 6,514
2011 0 0 6,300 0 6,300 0 112 6,188
2012 0 0 5,985 0 5,985 0 107 5,878
2013 0 0 5,686 0 5,686 0 101 5,585
2014 0 0 5,402 0 5,402 0 96 5,306
2015 0 0 3,450 0 3,450 0 61 3,389
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 90,750 0 90,750 0 1,615 89,135
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 90,750 0 90,750 0 1,615 89,135
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,997 0 0 0 4,997 4,331 4,331 4,126
2004 4,997 0 0 0 4,997 3,863 8,194 3,332
2005 4,996 0 0 0 4,996 3,423 11,617 2,672
2006 4,994 0 0 0 4,994 3,003 14,620 2,123
2007 4,995 0 0 0 4,995 2,602 17,222 1,664
2008 4,993 0 0 0 4,993 2,224 19,446 1,289
2009 4,993 0 0 0 4,993 1,864 21,310 978
2010 4,992 0 0 0 4,992 1,522 22,832 722
2011 4,991 0 0 0 4,991 1,197 24,029 515
2012 4,991 0 0 0 4,991 887 24,916 346
2013 4,991 0 0 0 4,991 594 25,510 209
2014 4,990 0 0 0 4,990 316 25,826 102
2015 3,326 0 0 0 3,326 63 25,889 18
2016 0 0 0 0 0 0 25,889 0
2017 0 0 0 0 0 0 25,889 0
SUBTOT 63,246 0 0 0 63,246 25,889 18,096
REMAIN 0 0 0 0 0 0 25,889 0
TOTAL 63,246 0 0 0 63,246 25,889 18,096
LIFE OF EVALUATION IS 12.67 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 102
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 4-T17S-R17W PROVED
FRYE #2 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 1,392
FINAL - 1.000000 0.875000 4.13 10.00% - 1,252
REMARKS - 15.00% - 1,133
20.00% - 1,032
25.00% - 946
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 0 0 0 0.238 0.00 4.13
2004 1 0 0 1 0 0 0.219 0.00 4.13
2005 1 0 0 0 0 0 0.202 0.00 4.13
2006 1 0 0 0 0 0 0.186 0.00 4.13
2007 1 0 0 0 0 0 0.171 0.00 4.13
2008 1 0 0 0 0 0 0.157 0.00 4.13
2009 1 0 0 1 0 0 0.145 0.00 4.13
2010 1 0 0 0 0 0 0.068 0.00 4.13
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 2 0 0 1.386 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 2 0 0 1.386 0.00 4.13
CUMULATIVE 0 0 13 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 15 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 985 0 985 0 18 967
2004 0 0 905 0 905 0 16 889
2005 0 0 834 0 834 0 14 820
2006 0 0 766 0 766 0 14 752
2007 0 0 705 0 705 0 13 692
2008 0 0 649 0 649 0 11 638
2009 0 0 597 0 597 0 11 586
2010 0 0 281 0 281 0 5 276
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 5,722 0 5,722 0 102 5,620
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 5,722 0 5,722 0 102 5,620
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 542 0 0 0 542 425 425 405
2004 541 0 0 0 541 348 773 301
2005 542 0 0 0 542 278 1,051 217
2006 541 0 0 0 541 211 1,262 149
2007 541 0 0 0 541 151 1,413 97
2008 541 0 0 0 541 97 1,510 56
2009 541 0 0 0 541 45 1,555 24
2010 271 0 0 0 271 5 1,560 3
2011 0 0 0 0 0 0 1,560 0
2012 0 0 0 0 0 0 1,560 0
2013 0 0 0 0 0 0 1,560 0
2014 0 0 0 0 0 0 1,560 0
2015 0 0 0 0 0 0 1,560 0
2016 0 0 0 0 0 0 1,560 0
2017 0 0 0 0 0 0 1,560 0
SUBTOT 4,060 0 0 0 4,060 1,560 1,252
REMAIN 0 0 0 0 0 0 1,560 0
TOTAL 4,060 0 0 0 4,060 1,560 1,252
LIFE OF EVALUATION IS 7.50 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 103
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T17S-R16W PROVED
GIESICK #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 219,977
FINAL - 1.000000 0.875000 4.13 10.00% - 187,422
REMARKS - 15.00% - 162,460
20.00% - 142,917
25.00% - 127,321
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 19 0 0 15.021 0.00 4.13
2004 1 0 0 16 0 0 13.218 0.00 4.13
2005 1 0 0 15 0 0 11.632 0.00 4.13
2006 1 0 0 12 0 0 10.236 0.00 4.13
2007 1 0 0 11 0 0 9.008 0.00 4.13
2008 1 0 0 10 0 0 7.927 0.00 4.13
2009 1 0 0 9 0 0 6.976 0.00 4.13
2010 1 0 0 8 0 0 6.139 0.00 4.13
2011 1 0 0 6 0 0 5.402 0.00 4.13
2012 1 0 0 6 0 0 4.754 0.00 4.13
2013 1 0 0 5 0 0 4.183 0.00 4.13
2014 1 0 0 5 0 0 3.681 0.00 4.13
2015 1 0 0 4 0 0 3.240 0.00 4.13
2016 1 0 0 2 0 0 1.941 0.00 4.13
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 103.358 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 103.358 0.00 4.13
CUMULATIVE 0 0 880 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 1,008 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 62,037 0 62,037 0 1,104 60,933
2004 0 0 54,592 0 54,592 0 972 53,620
2005 0 0 48,041 0 48,041 0 855 47,186
2006 0 0 42,276 0 42,276 0 753 41,523
2007 0 0 37,203 0 37,203 0 662 36,541
2008 0 0 32,739 0 32,739 0 583 32,156
2009 0 0 28,810 0 28,810 0 512 28,298
2010 0 0 25,353 0 25,353 0 452 24,901
2011 0 0 22,310 0 22,310 0 397 21,913
2012 0 0 19,633 0 19,633 0 349 19,284
2013 0 0 17,278 0 17,278 0 308 16,970
2014 0 0 15,204 0 15,204 0 270 14,934
2015 0 0 13,379 0 13,379 0 239 13,140
2016 0 0 8,015 0 8,015 0 142 7,873
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 426,870 0 426,870 0 7,598 419,272
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 426,870 0 426,870 0 7,598 419,272
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,458 0 0 0 11,458 49,475 49,475 47,152
2004 11,446 0 0 0 11,446 42,174 91,649 36,386
2005 11,434 0 0 0 11,434 35,752 127,401 27,922
2006 11,425 0 0 0 11,425 30,098 157,499 21,280
2007 11,416 0 0 0 11,416 25,125 182,624 16,082
2008 11,408 0 0 0 11,408 20,748 203,372 12,022
2009 11,401 0 0 0 11,401 16,897 220,269 8,864
2010 11,396 0 0 0 11,396 13,505 233,774 6,414
2011 11,390 0 0 0 11,390 10,523 244,297 4,526
2012 11,385 0 0 0 11,385 7,899 252,196 3,076
2013 11,382 0 0 0 11,382 5,588 257,784 1,971
2014 11,378 0 0 0 11,378 3,556 261,340 1,136
2015 11,375 0 0 0 11,375 1,765 263,105 513
2016 7,582 0 0 0 7,582 291 263,396 78
2017 0 0 0 0 0 0 263,396 0
SUBTOT 155,876 0 0 0 155,876 263,396 187,422
REMAIN 0 0 0 0 0 0 263,396 0
TOTAL 155,876 0 0 0 155,876 263,396 187,422
LIFE OF EVALUATION IS 13.67 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 104
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
GILLIG #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 111,660
FINAL - 1.000000 0.875000 4.13 10.00% - 76,090
REMARKS - 15.00% - 57,347
20.00% - 45,982
25.00% - 38,390
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.808 0.00 4.13
2004 1 0 0 4 0 0 2.676 0.00 4.13
2005 1 0 0 3 0 0 2.551 0.00 4.13
2006 1 0 0 3 0 0 2.431 0.00 4.13
2007 1 0 0 3 0 0 2.317 0.00 4.13
2008 1 0 0 3 0 0 2.208 0.00 4.13
2009 1 0 0 2 0 0 2.104 0.00 4.13
2010 1 0 0 3 0 0 2.005 0.00 4.13
2011 1 0 0 2 0 0 1.911 0.00 4.13
2012 1 0 0 2 0 0 1.821 0.00 4.13
2013 1 0 0 3 0 0 1.735 0.00 4.13
2014 1 0 0 2 0 0 1.654 0.00 4.13
2015 1 0 0 2 0 0 1.576 0.00 4.13
2016 1 0 0 1 0 0 1.502 0.00 4.13
2017 1 0 0 2 0 0 1.431 0.00 4.13
SUB-TOTAL 0 0 38 0 0 30.730 0.00 4.13
REMAINDER 0 0 24 0 0 19.432 0.00 4.13
TOTAL 0 0 62 0 0 50.162 0.00 4.13
CUMULATIVE 0 0 321 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 383 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 11,599 0 11,599 0 206 11,393
2004 0 0 11,053 0 11,053 0 197 10,856
2005 0 0 10,534 0 10,534 0 188 10,346
2006 0 0 10,039 0 10,039 0 178 9,861
2007 0 0 9,568 0 9,568 0 171 9,397
2008 0 0 9,117 0 9,117 0 162 8,955
2009 0 0 8,689 0 8,689 0 155 8,534
2010 0 0 8,281 0 8,281 0 147 8,134
2011 0 0 7,891 0 7,891 0 141 7,750
2012 0 0 7,521 0 7,521 0 133 7,388
2013 0 0 7,167 0 7,167 0 128 7,039
2014 0 0 6,830 0 6,830 0 122 6,708
2015 0 0 6,509 0 6,509 0 115 6,394
2016 0 0 6,203 0 6,203 0 111 6,092
2017 0 0 5,912 0 5,912 0 105 5,807
SUB-TOT 0 0 126,913 0 126,913 0 2,259 124,654
REMAIN 0 0 80,255 0 80,255 0 1,429 78,826
TOTAL 0 0 207,168 0 207,168 0 3,688 203,480
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 272 0 0 0 272 11,121 11,121 10,589
2004 271 0 0 0 271 10,585 21,706 9,124
2005 270 0 0 0 270 10,076 31,782 7,862
2006 269 0 0 0 269 9,592 41,374 6,775
2007 269 0 0 0 269 9,128 50,502 5,836
2008 267 0 0 0 267 8,688 59,190 5,028
2009 267 0 0 0 267 8,267 67,457 4,331
2010 266 0 0 0 266 7,868 75,325 3,731
2011 266 0 0 0 266 7,484 82,809 3,213
2012 265 0 0 0 265 7,123 89,932 2,767
2013 264 0 0 0 264 6,775 96,707 2,384
2014 264 0 0 0 264 6,444 103,151 2,051
2015 263 0 0 0 263 6,131 109,282 1,768
2016 262 0 0 0 262 5,830 115,112 1,521
2017 263 0 0 0 263 5,544 120,656 1,309
SUBTOT 3,998 0 0 0 3,998 120,656 68,289
REMAIN 5,933 0 0 0 5,933 72,893 193,549 7,801
TOTAL 9,931 0 0 0 9,931 193,549 76,090
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 105
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 9-T17S-R17W PROVED
GRUMBEIN -A- #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 94,615
FINAL - 1.000000 0.875000 4.13 10.00% - 65,675
REMARKS - 15.00% - 49,985
20.00% - 40,303
25.00% - 33,767
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.642 0.00 4.13
2004 1 0 0 3 0 0 2.516 0.00 4.13
2005 1 0 0 3 0 0 2.395 0.00 4.13
2006 1 0 0 3 0 0 2.280 0.00 4.13
2007 1 0 0 3 0 0 2.170 0.00 4.13
2008 1 0 0 2 0 0 2.066 0.00 4.13
2009 1 0 0 3 0 0 1.967 0.00 4.13
2010 1 0 0 2 0 0 1.873 0.00 4.13
2011 1 0 0 2 0 0 1.783 0.00 4.13
2012 1 0 0 3 0 0 1.697 0.00 4.13
2013 1 0 0 2 0 0 1.616 0.00 4.13
2014 1 0 0 1 0 0 1.538 0.00 4.13
2015 1 0 0 2 0 0 1.464 0.00 4.13
2016 1 0 0 2 0 0 1.394 0.00 4.13
2017 1 0 0 2 0 0 1.327 0.00 4.13
SUB-TOTAL 0 0 36 0 0 28.728 0.00 4.13
REMAINDER 0 0 22 0 0 17.831 0.00 4.13
TOTAL 0 0 58 0 0 46.559 0.00 4.13
CUMULATIVE 0 0 124 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 182 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 10,913 0 10,913 0 194 10,719
2004 0 0 10,390 0 10,390 0 185 10,205
2005 0 0 9,891 0 9,891 0 176 9,715
2006 0 0 9,416 0 9,416 0 168 9,248
2007 0 0 8,964 0 8,964 0 159 8,805
2008 0 0 8,534 0 8,534 0 152 8,382
2009 0 0 8,124 0 8,124 0 145 7,979
2010 0 0 7,734 0 7,734 0 138 7,596
2011 0 0 7,363 0 7,363 0 131 7,232
2012 0 0 7,010 0 7,010 0 124 6,886
2013 0 0 6,673 0 6,673 0 119 6,554
2014 0 0 6,353 0 6,353 0 113 6,240
2015 0 0 6,048 0 6,048 0 108 5,940
2016 0 0 5,757 0 5,757 0 102 5,655
2017 0 0 5,481 0 5,481 0 98 5,383
SUB-TOT 0 0 118,651 0 118,651 0 2,112 116,539
REMAIN 0 0 73,642 0 73,642 0 1,311 72,331
TOTAL 0 0 192,293 0 192,293 0 3,423 188,870
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 811 0 0 0 811 9,908 9,908 9,435
2004 810 0 0 0 810 9,395 19,303 8,098
2005 808 0 0 0 808 8,907 28,210 6,950
2006 809 0 0 0 809 8,439 36,649 5,960
2007 807 0 0 0 807 7,998 44,647 5,114
2008 807 0 0 0 807 7,575 52,222 4,384
2009 806 0 0 0 806 7,173 59,395 3,758
2010 805 0 0 0 805 6,791 66,186 3,221
2011 804 0 0 0 804 6,428 72,614 2,759
2012 804 0 0 0 804 6,082 78,696 2,364
2013 804 0 0 0 804 5,750 84,446 2,022
2014 803 0 0 0 803 5,437 89,883 1,732
2015 802 0 0 0 802 5,138 95,021 1,481
2016 802 0 0 0 802 4,853 99,874 1,266
2017 801 0 0 0 801 4,582 104,456 1,082
SUBTOT 12,083 0 0 0 12,083 104,456 59,626
REMAIN 18,343 0 0 0 18,343 53,988 158,444 6,049
TOTAL 30,426 0 0 0 30,426 158,444 65,675
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 106
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 73,608
FINAL - 1.000000 0.820313 4.13 10.00% - 50,341
REMARKS - 15.00% - 37,959
20.00% - 30,421
25.00% - 25,380
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.045 0.00 4.13
2004 1 0 0 2 0 0 1.963 0.00 4.13
2005 1 0 0 3 0 0 1.884 0.00 4.13
2006 1 0 0 2 0 0 1.809 0.00 4.13
2007 1 0 0 3 0 0 1.737 0.00 4.13
2008 1 0 0 2 0 0 1.667 0.00 4.13
2009 1 0 0 2 0 0 1.600 0.00 4.13
2010 1 0 0 2 0 0 1.536 0.00 4.13
2011 1 0 0 2 0 0 1.475 0.00 4.13
2012 1 0 0 2 0 0 1.416 0.00 4.13
2013 1 0 0 2 0 0 1.359 0.00 4.13
2014 1 0 0 1 0 0 1.305 0.00 4.13
2015 1 0 0 2 0 0 1.253 0.00 4.13
2016 1 0 0 1 0 0 1.203 0.00 4.13
2017 1 0 0 2 0 0 1.155 0.00 4.13
SUB-TOTAL 0 0 31 0 0 23.407 0.00 4.13
REMAINDER 0 0 22 0 0 16.873 0.00 4.13
TOTAL 0 0 53 0 0 40.280 0.00 4.13
CUMULATIVE 0 0 626 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 679 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 8,444 0 8,444 0 150 8,294
2004 0 0 8,106 0 8,106 0 145 7,961
2005 0 0 7,782 0 7,782 0 138 7,644
2006 0 0 7,471 0 7,471 0 133 7,338
2007 0 0 7,172 0 7,172 0 128 7,044
2008 0 0 6,885 0 6,885 0 122 6,763
2009 0 0 6,609 0 6,609 0 118 6,491
2010 0 0 6,345 0 6,345 0 113 6,232
2011 0 0 6,092 0 6,092 0 108 5,984
2012 0 0 5,848 0 5,848 0 104 5,744
2013 0 0 5,613 0 5,613 0 100 5,513
2014 0 0 5,390 0 5,390 0 96 5,294
2015 0 0 5,173 0 5,173 0 92 5,081
2016 0 0 4,967 0 4,967 0 89 4,878
2017 0 0 4,768 0 4,768 0 85 4,683
SUB-TOT 0 0 96,665 0 96,665 0 1,721 94,944
REMAIN 0 0 69,684 0 69,684 0 1,240 68,444
TOTAL 0 0 166,349 0 166,349 0 2,961 163,388
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 987 0 0 0 987 7,307 7,307 6,958
2004 987 0 0 0 987 6,974 14,281 6,011
2005 986 0 0 0 986 6,658 20,939 5,194
2006 986 0 0 0 986 6,352 27,291 4,487
2007 985 0 0 0 985 6,059 33,350 3,873
2008 985 0 0 0 985 5,778 39,128 3,344
2009 984 0 0 0 984 5,507 44,635 2,885
2010 984 0 0 0 984 5,248 49,883 2,489
2011 983 0 0 0 983 5,001 54,884 2,147
2012 982 0 0 0 982 4,762 59,646 1,850
2013 983 0 0 0 983 4,530 64,176 1,593
2014 982 0 0 0 982 4,312 68,488 1,373
2015 981 0 0 0 981 4,100 72,588 1,182
2016 981 0 0 0 981 3,897 76,485 1,017
2017 981 0 0 0 981 3,702 80,187 874
SUBTOT 14,757 0 0 0 14,757 80,187 45,277
REMAIN 22,483 0 0 0 22,483 45,961 126,148 5,064
TOTAL 37,240 0 0 0 37,240 126,148 50,341
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 107
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT -A- #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 181,305
FINAL - 1.000000 0.820313 4.13 10.00% - 130,764
REMARKS - 15.00% - 101,618
20.00% - 82,952
25.00% - 70,056
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 8 0 0 5.904 0.00 4.13
2004 1 0 0 7 0 0 5.579 0.00 4.13
2005 1 0 0 7 0 0 5.272 0.00 4.13
2006 1 0 0 7 0 0 4.982 0.00 4.13
2007 1 0 0 6 0 0 4.708 0.00 4.13
2008 1 0 0 6 0 0 4.449 0.00 4.13
2009 1 0 0 6 0 0 4.204 0.00 4.13
2010 1 0 0 5 0 0 3.973 0.00 4.13
2011 1 0 0 5 0 0 3.755 0.00 4.13
2012 1 0 0 4 0 0 3.548 0.00 4.13
2013 1 0 0 5 0 0 3.353 0.00 4.13
2014 1 0 0 4 0 0 3.169 0.00 4.13
2015 1 0 0 4 0 0 2.994 0.00 4.13
2016 1 0 0 4 0 0 2.830 0.00 4.13
2017 1 0 0 3 0 0 2.674 0.00 4.13
SUB-TOTAL 0 0 81 0 0 61.394 0.00 4.13
REMAINDER 0 0 45 0 0 33.437 0.00 4.13
TOTAL 0 0 126 0 0 94.831 0.00 4.13
CUMULATIVE 0 0 501 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 627 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 24,382 0 24,382 0 434 23,948
2004 0 0 23,040 0 23,040 0 410 22,630
2005 0 0 21,774 0 21,774 0 388 21,386
2006 0 0 20,576 0 20,576 0 366 20,210
2007 0 0 19,444 0 19,444 0 346 19,098
2008 0 0 18,375 0 18,375 0 327 18,048
2009 0 0 17,364 0 17,364 0 309 17,055
2010 0 0 16,410 0 16,410 0 292 16,118
2011 0 0 15,506 0 15,506 0 276 15,230
2012 0 0 14,654 0 14,654 0 261 14,393
2013 0 0 13,848 0 13,848 0 247 13,601
2014 0 0 13,086 0 13,086 0 233 12,853
2015 0 0 12,367 0 12,367 0 220 12,147
2016 0 0 11,686 0 11,686 0 208 11,478
2017 0 0 11,044 0 11,044 0 196 10,848
SUB-TOT 0 0 253,556 0 253,556 0 4,513 249,043
REMAIN 0 0 138,094 0 138,094 0 2,458 135,636
TOTAL 0 0 391,650 0 391,650 0 6,971 384,679
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,721 0 0 0 2,721 21,227 21,227 20,215
2004 2,718 0 0 0 2,718 19,912 41,139 17,165
2005 2,716 0 0 0 2,716 18,670 59,809 14,569
2006 2,713 0 0 0 2,713 17,497 77,306 12,360
2007 2,712 0 0 0 2,712 16,386 93,692 10,477
2008 2,709 0 0 0 2,709 15,339 109,031 8,879
2009 2,708 0 0 0 2,708 14,347 123,378 7,517
2010 2,706 0 0 0 2,706 13,412 136,790 6,361
2011 2,704 0 0 0 2,704 12,526 149,316 5,378
2012 2,703 0 0 0 2,703 11,690 161,006 4,544
2013 2,702 0 0 0 2,702 10,899 171,905 3,834
2014 2,700 0 0 0 2,700 10,153 182,058 3,233
2015 2,698 0 0 0 2,698 9,449 191,507 2,724
2016 2,697 0 0 0 2,697 8,781 200,288 2,292
2017 2,697 0 0 0 2,697 8,151 208,439 1,925
SUBTOT 40,604 0 0 0 40,604 208,439 121,473
REMAIN 61,800 0 0 0 61,800 73,836 282,275 9,291
TOTAL 102,404 0 0 0 102,404 282,275 130,764
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 108
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 24-T17S-R17W PROVED
HANHARDT -A- #1BP (TOPEKA) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 121,094
FINAL - 1.000000 0.820313 4.13 10.00% - 104,378
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING. 15.00% - 90,262
20.00% - 78,297
25.00% - 68,119
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 12 0 0 9.191 0.00 4.13
2005 1 0 0 17 0 0 12.971 0.00 4.13
2006 1 0 0 11 0 0 8.073 0.00 4.13
2007 1 0 0 7 0 0 5.024 0.00 4.13
2008 1 0 0 3 0 0 2.448 0.00 4.13
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 50 0 0 37.707 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 50 0 0 37.707 0.00 4.13
CUMULATIVE 0 0 0 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 50 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 37,960 0 37,960 0 676 37,284
2005 0 0 53,572 0 53,572 0 953 52,619
2006 0 0 33,341 0 33,341 0 594 32,747
2007 0 0 20,751 0 20,751 0 369 20,382
2008 0 0 10,111 0 10,111 0 180 9,931
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 155,735 0 155,735 0 2,772 152,963
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 155,735 0 155,735 0 2,772 152,963
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 12,000 0 12,000 25,284 25,284 21,062
2005 0 0 0 0 0 52,619 77,903 41,199
2006 0 0 0 0 0 32,747 110,650 23,209
2007 0 0 0 0 0 20,382 131,032 13,077
2008 0 0 0 0 0 9,931 140,963 5,831
2009 0 0 0 0 0 0 140,963 0
2010 0 0 0 0 0 0 140,963 0
2011 0 0 0 0 0 0 140,963 0
2012 0 0 0 0 0 0 140,963 0
2013 0 0 0 0 0 0 140,963 0
2014 0 0 0 0 0 0 140,963 0
2015 0 0 0 0 0 0 140,963 0
2016 0 0 0 0 0 0 140,963 0
2017 0 0 0 0 0 0 140,963 0
SUBTOT 0 0 12,000 0 12,000 140,963 104,378
REMAIN 0 0 0 0 0 0 140,963 0
TOTAL 0 0 12,000 0 12,000 140,963 104,378
LIFE OF EVALUATION IS 5.74 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 109
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
HOFFMAN #3 (CHASE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 195,301
FINAL - 1.000000 0.820313 4.13 10.00% - 126,456
REMARKS - 15.00% - 92,444
20.00% - 72,729
25.00% - 59,958
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 6 0 0 4.220 0.00 4.13
2004 1 0 0 5 0 0 4.094 0.00 4.13
2005 1 0 0 5 0 0 3.971 0.00 4.13
2006 1 0 0 5 0 0 3.852 0.00 4.13
2007 1 0 0 5 0 0 3.736 0.00 4.13
2008 1 0 0 5 0 0 3.624 0.00 4.13
2009 1 0 0 5 0 0 3.516 0.00 4.13
2010 1 0 0 4 0 0 3.410 0.00 4.13
2011 1 0 0 5 0 0 3.308 0.00 4.13
2012 1 0 0 4 0 0 3.209 0.00 4.13
2013 1 0 0 4 0 0 3.112 0.00 4.13
2014 1 0 0 4 0 0 3.019 0.00 4.13
2015 1 0 0 4 0 0 2.928 0.00 4.13
2016 1 0 0 4 0 0 2.840 0.00 4.13
2017 1 0 0 3 0 0 2.755 0.00 4.13
SUB-TOTAL 0 0 68 0 0 51.594 0.00 4.13
REMAINDER 0 0 60 0 0 44.873 0.00 4.13
TOTAL 0 0 128 0 0 96.467 0.00 4.13
CUMULATIVE 0 0 177 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 305 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 17,430 0 17,430 0 310 17,120
2004 0 0 16,908 0 16,908 0 301 16,607
2005 0 0 16,400 0 16,400 0 292 16,108
2006 0 0 15,909 0 15,909 0 283 15,626
2007 0 0 15,431 0 15,431 0 275 15,156
2008 0 0 14,968 0 14,968 0 266 14,702
2009 0 0 14,519 0 14,519 0 259 14,260
2010 0 0 14,084 0 14,084 0 251 13,833
2011 0 0 13,661 0 13,661 0 243 13,418
2012 0 0 13,251 0 13,251 0 236 13,015
2013 0 0 12,853 0 12,853 0 228 12,625
2014 0 0 12,469 0 12,469 0 222 12,247
2015 0 0 12,094 0 12,094 0 216 11,878
2016 0 0 11,731 0 11,731 0 208 11,523
2017 0 0 11,379 0 11,379 0 203 11,176
SUB-TOT 0 0 213,087 0 213,087 0 3,793 209,294
REMAIN 0 0 185,323 0 185,323 0 3,299 182,024
TOTAL 0 0 398,410 0 398,410 0 7,092 391,318
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 644 0 0 0 644 16,476 16,476 15,686
2004 643 0 0 0 643 15,964 32,440 13,758
2005 642 0 0 0 642 15,466 47,906 12,066
2006 641 0 0 0 641 14,985 62,891 10,582
2007 640 0 0 0 640 14,516 77,407 9,279
2008 639 0 0 0 639 14,063 91,470 8,138
2009 639 0 0 0 639 13,621 105,091 7,135
2010 638 0 0 0 638 13,195 118,286 6,256
2011 637 0 0 0 637 12,781 131,067 5,486
2012 636 0 0 0 636 12,379 143,446 4,810
2013 636 0 0 0 636 11,989 155,435 4,216
2014 634 0 0 0 634 11,613 167,048 3,697
2015 634 0 0 0 634 11,244 178,292 3,241
2016 634 0 0 0 634 10,889 189,181 2,840
2017 633 0 0 0 633 10,543 199,724 2,490
SUBTOT 9,570 0 0 0 9,570 199,724 109,680
REMAIN 14,415 0 0 0 14,415 167,609 367,333 16,776
TOTAL 23,985 0 0 0 23,985 367,333 126,456
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 110
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R17W PROVED
HOLZMEISTER #1 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 87 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 87 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 111
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 27-T16S-R17W PROVED
HOLZMEISTER -A- #1 (KC-LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 21
ULTIMATE 0 0 21
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 112
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T16S-R17W PROVED
HOLZMEISTER -B- #1 (KC-LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 24 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 24 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 113
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
HONDERICK -C- #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 59,878
FINAL - 1.000000 0.875000 4.13 10.00% - 39,523
REMARKS - 15.00% - 29,195
20.00% - 23,106
25.00% - 19,118
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 1.522 0.00 4.13
2004 1 0 0 2 0 0 1.476 0.00 4.13
2005 1 0 0 2 0 0 1.432 0.00 4.13
2006 1 0 0 1 0 0 1.389 0.00 4.13
2007 1 0 0 2 0 0 1.347 0.00 4.13
2008 1 0 0 2 0 0 1.307 0.00 4.13
2009 1 0 0 1 0 0 1.268 0.00 4.13
2010 1 0 0 2 0 0 1.230 0.00 4.13
2011 1 0 0 1 0 0 1.193 0.00 4.13
2012 1 0 0 2 0 0 1.157 0.00 4.13
2013 1 0 0 1 0 0 1.122 0.00 4.13
2014 1 0 0 1 0 0 1.088 0.00 4.13
2015 1 0 0 2 0 0 1.056 0.00 4.13
2016 1 0 0 1 0 0 1.024 0.00 4.13
2017 1 0 0 1 0 0 0.993 0.00 4.13
SUB-TOTAL 0 0 23 0 0 18.604 0.00 4.13
REMAINDER 0 0 20 0 0 16.179 0.00 4.13
TOTAL 0 0 43 0 0 34.783 0.00 4.13
CUMULATIVE 0 0 95 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 138 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 6,285 0 6,285 0 112 6,173
2004 0 0 6,096 0 6,096 0 108 5,988
2005 0 0 5,913 0 5,913 0 106 5,807
2006 0 0 5,736 0 5,736 0 102 5,634
2007 0 0 5,564 0 5,564 0 99 5,465
2008 0 0 5,397 0 5,397 0 96 5,301
2009 0 0 5,235 0 5,235 0 93 5,142
2010 0 0 5,078 0 5,078 0 90 4,988
2011 0 0 4,925 0 4,925 0 88 4,837
2012 0 0 4,778 0 4,778 0 85 4,693
2013 0 0 4,635 0 4,635 0 83 4,552
2014 0 0 4,495 0 4,495 0 80 4,415
2015 0 0 4,361 0 4,361 0 77 4,284
2016 0 0 4,230 0 4,230 0 76 4,154
2017 0 0 4,103 0 4,103 0 73 4,030
SUB-TOT 0 0 76,831 0 76,831 0 1,368 75,463
REMAIN 0 0 66,820 0 66,820 0 1,189 65,631
TOTAL 0 0 143,651 0 143,651 0 2,557 141,094
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 851 0 0 0 851 5,322 5,322 5,067
2004 850 0 0 0 850 5,138 10,460 4,428
2005 850 0 0 0 850 4,957 15,417 3,867
2006 850 0 0 0 850 4,784 20,201 3,379
2007 850 0 0 0 850 4,615 24,816 2,950
2008 849 0 0 0 849 4,452 29,268 2,576
2009 849 0 0 0 849 4,293 33,561 2,249
2010 849 0 0 0 849 4,139 37,700 1,963
2011 848 0 0 0 848 3,989 41,689 1,712
2012 848 0 0 0 848 3,845 45,534 1,494
2013 848 0 0 0 848 3,704 49,238 1,303
2014 848 0 0 0 848 3,567 52,805 1,135
2015 847 0 0 0 847 3,437 56,242 991
2016 848 0 0 0 848 3,306 59,548 862
2017 847 0 0 0 847 3,183 62,731 752
SUBTOT 12,732 0 0 0 12,732 62,731 34,728
REMAIN 19,434 0 0 0 19,434 46,197 108,928 4,795
TOTAL 32,166 0 0 0 32,166 108,928 39,523
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 114
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
HOOFER #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 357
ULTIMATE 0 0 357
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 115
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 7-T17S-R16W PROVED
JANSON -A- #2 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 29
ULTIMATE 0 0 29
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC TABLE 116
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 2-T17S-R17W PROVED
KAISER #2 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 74,921
FINAL - 1.000000 0.875000 4.13 10.00% - 54,807
REMARKS - 15.00% - 42,911
20.00% - 35,181
25.00% - 29,795
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.583 0.00 4.13
2004 1 0 0 3 0 0 2.436 0.00 4.13
2005 1 0 0 3 0 0 2.297 0.00 4.13
2006 1 0 0 3 0 0 2.166 0.00 4.13
2007 1 0 0 2 0 0 2.042 0.00 4.13
2008 1 0 0 3 0 0 1.926 0.00 4.13
2009 1 0 0 2 0 0 1.816 0.00 4.13
2010 1 0 0 2 0 0 1.713 0.00 4.13
2011 1 0 0 2 0 0 1.615 0.00 4.13
2012 1 0 0 2 0 0 1.523 0.00 4.13
2013 1 0 0 2 0 0 1.436 0.00 4.13
2014 1 0 0 1 0 0 1.354 0.00 4.13
2015 1 0 0 2 0 0 1.277 0.00 4.13
2016 1 0 0 2 0 0 1.204 0.00 4.13
2017 1 0 0 1 0 0 1.136 0.00 4.13
SUB-TOTAL 0 0 33 0 0 26.524 0.00 4.13
REMAINDER 0 0 16 0 0 13.175 0.00 4.13
TOTAL 0 0 49 0 0 39.699 0.00 4.13
CUMULATIVE 0 0 89 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 138 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 10,667 0 10,667 0 190 10,477
2004 0 0 10,059 0 10,059 0 179 9,880
2005 0 0 9,486 0 9,486 0 169 9,317
2006 0 0 8,945 0 8,945 0 159 8,786
2007 0 0 8,436 0 8,436 0 150 8,286
2008 0 0 7,954 0 7,954 0 142 7,812
2009 0 0 7,501 0 7,501 0 133 7,368
2010 0 0 7,074 0 7,074 0 126 6,948
2011 0 0 6,670 0 6,670 0 119 6,551
2012 0 0 6,290 0 6,290 0 112 6,178
2013 0 0 5,932 0 5,932 0 105 5,827
2014 0 0 5,593 0 5,593 0 100 5,493
2015 0 0 5,275 0 5,275 0 94 5,181
2016 0 0 4,974 0 4,974 0 88 4,886
2017 0 0 4,690 0 4,690 0 84 4,606
SUB-TOT 0 0 109,546 0 109,546 0 1,950 107,596
REMAIN 0 0 54,413 0 54,413 0 968 53,445
TOTAL 0 0 163,959 0 163,959 0 2,918 161,041
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,350 0 0 0 1,350 9,127 9,127 8,692
2004 1,350 0 0 0 1,350 8,530 17,657 7,354
2005 1,348 0 0 0 1,348 7,969 25,626 6,218
2006 1,347 0 0 0 1,347 7,439 33,065 5,255
2007 1,347 0 0 0 1,347 6,939 40,004 4,438
2008 1,345 0 0 0 1,345 6,467 46,471 3,743
2009 1,345 0 0 0 1,345 6,023 52,494 3,156
2010 1,344 0 0 0 1,344 5,604 58,098 2,658
2011 1,344 0 0 0 1,344 5,207 63,305 2,236
2012 1,342 0 0 0 1,342 4,836 68,141 1,879
2013 1,343 0 0 0 1,343 4,484 72,625 1,578
2014 1,341 0 0 0 1,341 4,152 76,777 1,322
2015 1,341 0 0 0 1,341 3,840 80,617 1,107
2016 1,341 0 0 0 1,341 3,545 84,162 925
2017 1,340 0 0 0 1,340 3,266 87,428 772
SUBTOT 20,168 0 0 0 20,168 87,428 51,333
REMAIN 27,510 0 0 0 27,510 25,935 113,363 3,474
TOTAL 47,678 0 0 0 47,678 113,363 54,807
LIFE OF EVALUATION IS 35.58 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 117
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
KAISER -A- #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 6,316
FINAL - 1.000000 0.875000 27.29 10.00% - 5,952
REMARKS - 15.00% - 5,619
20.00% - 5,312
25.00% - 5,029
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 248 0 0 217 0 0.000 27.29 0.00
2004 1 238 0 0 209 0 0.000 27.29 0.00
2005 1 128 0 0 111 0 0.000 27.29 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 614 0 0 537 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 614 0 0 537 0 0.000 27.29 0.00
CUMULATIVE 14,212 0 0
ULTIMATE 14,826 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 5,912 0 0 0 5,912 36 0 5,876
2004 5,704 0 0 0 5,704 35 0 5,669
2005 3,046 0 0 0 3,046 18 0 3,028
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 14,662 0 0 0 14,662 89 0 14,573
REMAIN 0 0 0 0 0 0 0 0
TOTAL 14,662 0 0 0 14,662 89 0 14,573
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,084 0 0 0 3,084 2,792 2,792 2,659
2004 3,084 0 0 0 3,084 2,585 5,377 2,229
2005 1,693 0 0 0 1,693 1,335 6,712 1,064
2006 0 0 0 0 0 0 6,712 0
2007 0 0 0 0 0 0 6,712 0
2008 0 0 0 0 0 0 6,712 0
2009 0 0 0 0 0 0 6,712 0
2010 0 0 0 0 0 0 6,712 0
2011 0 0 0 0 0 0 6,712 0
2012 0 0 0 0 0 0 6,712 0
2013 0 0 0 0 0 0 6,712 0
2014 0 0 0 0 0 0 6,712 0
2015 0 0 0 0 0 0 6,712 0
2016 0 0 0 0 0 0 6,712 0
2017 0 0 0 0 0 0 6,712 0
SUBTOT 7,861 0 0 0 7,861 6,712 5,952
REMAIN 0 0 0 0 0 0 6,712 0
TOTAL 7,861 0 0 0 7,861 6,712 5,952
LIFE OF EVALUATION IS 2.55 YEARS.
FINAL PRODUCTION RATE: 19 BBLS/MO
TENGASCO, INC. TABLE 118
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T17S-R17W PROVED
KLEWENO #1-21 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 68,282
FINAL - 1.000000 0.820313 4.13 10.00% - 52,654
REMARKS - 15.00% - 42,378
20.00% - 35,279
25.00% - 30,155
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.370 0.00 4.13
2004 1 0 0 3 0 0 2.180 0.00 4.13
2005 1 0 0 3 0 0 2.006 0.00 4.13
2006 1 0 0 2 0 0 1.845 0.00 4.13
2007 1 0 0 2 0 0 1.698 0.00 4.13
2008 1 0 0 2 0 0 1.562 0.00 4.13
2009 1 0 0 2 0 0 1.437 0.00 4.13
2010 1 0 0 2 0 0 1.322 0.00 4.13
2011 1 0 0 2 0 0 1.216 0.00 4.13
2012 1 0 0 1 0 0 1.119 0.00 4.13
2013 1 0 0 2 0 0 1.029 0.00 4.13
2014 1 0 0 1 0 0 0.947 0.00 4.13
2015 1 0 0 1 0 0 0.871 0.00 4.13
2016 1 0 0 1 0 0 0.802 0.00 4.13
2017 1 0 0 1 0 0 0.738 0.00 4.13
SUB-TOTAL 0 0 28 0 0 21.142 0.00 4.13
REMAINDER 0 0 3 0 0 1.911 0.00 4.13
TOTAL 0 0 31 0 0 23.053 0.00 4.13
CUMULATIVE 0 0 313 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 344 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 9,788 0 9,788 0 174 9,614
2004 0 0 9,004 0 9,004 0 161 8,843
2005 0 0 8,285 0 8,285 0 147 8,138
2006 0 0 7,621 0 7,621 0 136 7,485
2007 0 0 7,012 0 7,012 0 124 6,888
2008 0 0 6,451 0 6,451 0 115 6,336
2009 0 0 5,935 0 5,935 0 106 5,829
2010 0 0 5,460 0 5,460 0 97 5,363
2011 0 0 5,023 0 5,023 0 90 4,933
2012 0 0 4,622 0 4,622 0 82 4,540
2013 0 0 4,252 0 4,252 0 75 4,177
2014 0 0 3,911 0 3,911 0 70 3,841
2015 0 0 3,599 0 3,599 0 64 3,535
2016 0 0 3,310 0 3,310 0 59 3,251
2017 0 0 3,046 0 3,046 0 54 2,992
SUB-TOT 0 0 87,319 0 87,319 0 1,554 85,765
REMAIN 0 0 7,893 0 7,893 0 141 7,752
TOTAL 0 0 95,212 0 95,212 0 1,695 93,517
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 18 0 0 0 18 9,596 9,596 9,140
2004 16 0 0 0 16 8,827 18,423 7,610
2005 16 0 0 0 16 8,122 26,545 6,339
2006 13 0 0 0 13 7,472 34,017 5,279
2007 13 0 0 0 13 6,875 40,892 4,397
2008 12 0 0 0 12 6,324 47,216 3,661
2009 11 0 0 0 11 5,818 53,034 3,049
2010 10 0 0 0 10 5,353 58,387 2,539
2011 9 0 0 0 9 4,924 63,311 2,114
2012 9 0 0 0 9 4,531 67,842 1,762
2013 7 0 0 0 7 4,170 72,012 1,467
2014 7 0 0 0 7 3,834 75,846 1,221
2015 7 0 0 0 7 3,528 79,374 1,017
2016 6 0 0 0 6 3,245 82,619 847
2017 6 0 0 0 6 2,986 85,605 705
SUBTOT 160 0 0 0 160 85,605 51,147
REMAIN 14 0 0 0 14 7,738 93,343 1,507
TOTAL 174 0 0 0 174 93,343 52,654
LIFE OF EVALUATION IS 18.06 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 119
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R17W PROVED
KLEWENO -A- #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 36,840
FINAL - 1.000000 0.875000 4.13 10.00% - 28,261
REMARKS - 15.00% - 22,714
20.00% - 18,909
25.00% - 16,167
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 1.686 0.00 4.13
2004 1 0 0 2 0 0 1.593 0.00 4.13
2005 1 0 0 2 0 0 1.506 0.00 4.13
2006 1 0 0 2 0 0 1.423 0.00 4.13
2007 1 0 0 1 0 0 1.345 0.00 4.13
2008 1 0 0 2 0 0 1.271 0.00 4.13
2009 1 0 0 1 0 0 1.201 0.00 4.13
2010 1 0 0 2 0 0 1.135 0.00 4.13
2011 1 0 0 1 0 0 1.072 0.00 4.13
2012 1 0 0 1 0 0 1.013 0.00 4.13
2013 1 0 0 2 0 0 0.958 0.00 4.13
2014 1 0 0 1 0 0 0.905 0.00 4.13
2015 1 0 0 1 0 0 0.855 0.00 4.13
2016 1 0 0 1 0 0 0.808 0.00 4.13
2017 1 0 0 1 0 0 0.764 0.00 4.13
SUB-TOTAL 0 0 22 0 0 17.535 0.00 4.13
REMAINDER 0 0 7 0 0 5.634 0.00 4.13
TOTAL 0 0 29 0 0 23.169 0.00 4.13
CUMULATIVE 0 0 37 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 66 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 6,963 0 6,963 0 124 6,839
2004 0 0 6,581 0 6,581 0 117 6,464
2005 0 0 6,218 0 6,218 0 111 6,107
2006 0 0 5,876 0 5,876 0 104 5,772
2007 0 0 5,554 0 5,554 0 99 5,455
2008 0 0 5,247 0 5,247 0 94 5,153
2009 0 0 4,959 0 4,959 0 88 4,871
2010 0 0 4,687 0 4,687 0 83 4,604
2011 0 0 4,428 0 4,428 0 79 4,349
2012 0 0 4,185 0 4,185 0 75 4,110
2013 0 0 3,955 0 3,955 0 70 3,885
2014 0 0 3,738 0 3,738 0 67 3,671
2015 0 0 3,531 0 3,531 0 62 3,469
2016 0 0 3,338 0 3,338 0 60 3,278
2017 0 0 3,154 0 3,154 0 56 3,098
SUB-TOT 0 0 72,414 0 72,414 0 1,289 71,125
REMAIN 0 0 23,267 0 23,267 0 414 22,853
TOTAL 0 0 95,681 0 95,681 0 1,703 93,978
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,728 0 0 0 1,728 5,111 5,111 4,868
2004 1,727 0 0 0 1,727 4,737 9,848 4,084
2005 1,727 0 0 0 1,727 4,380 14,228 3,418
2006 1,726 0 0 0 1,726 4,046 18,274 2,858
2007 1,725 0 0 0 1,725 3,730 22,004 2,386
2008 1,725 0 0 0 1,725 3,428 25,432 1,984
2009 1,725 0 0 0 1,725 3,146 28,578 1,649
2010 1,724 0 0 0 1,724 2,880 31,458 1,366
2011 1,724 0 0 0 1,724 2,625 34,083 1,127
2012 1,723 0 0 0 1,723 2,387 36,470 928
2013 1,723 0 0 0 1,723 2,162 38,632 761
2014 1,722 0 0 0 1,722 1,949 40,581 621
2015 1,722 0 0 0 1,722 1,747 42,328 504
2016 1,722 0 0 0 1,722 1,556 43,884 406
2017 1,721 0 0 0 1,721 1,377 45,261 325
SUBTOT 25,864 0 0 0 25,864 45,261 27,285
REMAIN 17,057 0 0 0 17,057 5,796 51,057 976
TOTAL 42,921 0 0 0 42,921 51,057 28,261
LIFE OF EVALUATION IS 24.92 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 120
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 6-T18S-R16W PROVED
KOBER #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 88,526
FINAL - 1.000000 0.875000 4.13 10.00% - 66,974
REMARKS - 15.00% - 53,424
20.00% - 44,288
25.00% - 37,774
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.577 0.00 4.13
2004 1 0 0 5 0 0 3.363 0.00 4.13
2005 1 0 0 4 0 0 3.161 0.00 4.13
2006 1 0 0 3 0 0 2.971 0.00 4.13
2007 1 0 0 4 0 0 2.793 0.00 4.13
2008 1 0 0 3 0 0 2.625 0.00 4.13
2009 1 0 0 3 0 0 2.468 0.00 4.13
2010 1 0 0 3 0 0 2.320 0.00 4.13
2011 1 0 0 3 0 0 2.181 0.00 4.13
2012 1 0 0 2 0 0 2.050 0.00 4.13
2013 1 0 0 3 0 0 1.927 0.00 4.13
2014 1 0 0 2 0 0 1.811 0.00 4.13
2015 1 0 0 2 0 0 1.702 0.00 4.13
2016 1 0 0 2 0 0 1.600 0.00 4.13
2017 1 0 0 2 0 0 1.504 0.00 4.13
SUB-TOTAL 0 0 45 0 0 36.053 0.00 4.13
REMAINDER 0 0 16 0 0 13.186 0.00 4.13
TOTAL 0 0 61 0 0 49.239 0.00 4.13
CUMULATIVE 0 0 115 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 176 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 14,774 0 14,774 0 263 14,511
2004 0 0 13,888 0 13,888 0 247 13,641
2005 0 0 13,054 0 13,054 0 233 12,821
2006 0 0 12,271 0 12,271 0 218 12,053
2007 0 0 11,535 0 11,535 0 205 11,330
2008 0 0 10,842 0 10,842 0 193 10,649
2009 0 0 10,193 0 10,193 0 182 10,011
2010 0 0 9,580 0 9,580 0 170 9,410
2011 0 0 9,006 0 9,006 0 161 8,845
2012 0 0 8,465 0 8,465 0 150 8,315
2013 0 0 7,958 0 7,958 0 142 7,816
2014 0 0 7,480 0 7,480 0 133 7,347
2015 0 0 7,031 0 7,031 0 125 6,906
2016 0 0 6,610 0 6,610 0 118 6,492
2017 0 0 6,213 0 6,213 0 110 6,103
SUB-TOT 0 0 148,900 0 148,900 0 2,650 146,250
REMAIN 0 0 54,458 0 54,458 0 970 53,488
TOTAL 0 0 203,358 0 203,358 0 3,620 199,738
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,629 0 0 0 2,629 11,882 11,882 11,317
2004 2,628 0 0 0 2,628 11,013 22,895 9,494
2005 2,627 0 0 0 2,627 10,194 33,089 7,956
2006 2,625 0 0 0 2,625 9,428 42,517 6,660
2007 2,623 0 0 0 2,623 8,707 51,224 5,569
2008 2,623 0 0 0 2,623 8,026 59,250 4,646
2009 2,621 0 0 0 2,621 7,390 66,640 3,872
2010 2,621 0 0 0 2,621 6,789 73,429 3,221
2011 2,619 0 0 0 2,619 6,226 79,655 2,673
2012 2,619 0 0 0 2,619 5,696 85,351 2,215
2013 2,617 0 0 0 2,617 5,199 90,550 1,829
2014 2,617 0 0 0 2,617 4,730 95,280 1,507
2015 2,616 0 0 0 2,616 4,290 99,570 1,237
2016 2,616 0 0 0 2,616 3,876 103,446 1,011
2017 2,614 0 0 0 2,614 3,489 106,935 825
SUBTOT 39,315 0 0 0 39,315 106,935 64,032
REMAIN 34,596 0 0 0 34,596 18,892 125,827 2,942
TOTAL 73,911 0 0 0 73,911 125,827 66,974
LIFE OF EVALUATION IS 28.25 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 121
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 21-T17S-R17W PROVED
LEBSACK -A- #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 126 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 126 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 122
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #2 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 2,213
ULTIMATE 0 0 2,213
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 123
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #3 (COTTONWOOD) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 140,292
FINAL - 1.000000 0.875000 4.13 10.00% - 101,428
REMARKS - 15.00% - 78,638
20.00% - 63,984
25.00% - 53,871
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 7 0 0 5.422 0.00 4.13
2004 1 0 0 6 0 0 5.211 0.00 4.13
2005 1 0 0 6 0 0 5.007 0.00 4.13
2006 1 0 0 6 0 0 4.812 0.00 4.13
2007 1 0 0 6 0 0 4.624 0.00 4.13
2008 1 0 0 6 0 0 4.444 0.00 4.13
2009 1 0 0 5 0 0 4.271 0.00 4.13
2010 1 0 0 5 0 0 4.104 0.00 4.13
2011 1 0 0 5 0 0 3.944 0.00 4.13
2012 1 0 0 5 0 0 3.790 0.00 4.13
2013 1 0 0 4 0 0 3.642 0.00 4.13
2014 1 0 0 5 0 0 3.500 0.00 4.13
2015 1 0 0 4 0 0 3.364 0.00 4.13
2016 1 0 0 4 0 0 3.233 0.00 4.13
2017 1 0 0 4 0 0 3.107 0.00 4.13
SUB-TOTAL 0 0 78 0 0 62.475 0.00 4.13
REMAINDER 0 0 49 0 0 39.512 0.00 4.13
TOTAL 0 0 127 0 0 101.987 0.00 4.13
CUMULATIVE 0 0 182 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 309 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 22,393 0 22,393 0 399 21,994
2004 0 0 21,519 0 21,519 0 383 21,136
2005 0 0 20,680 0 20,680 0 368 20,312
2006 0 0 19,874 0 19,874 0 353 19,521
2007 0 0 19,099 0 19,099 0 340 18,759
2008 0 0 18,354 0 18,354 0 327 18,027
2009 0 0 17,637 0 17,637 0 314 17,323
2010 0 0 16,951 0 16,951 0 302 16,649
2011 0 0 16,289 0 16,289 0 290 15,999
2012 0 0 15,653 0 15,653 0 278 15,375
2013 0 0 15,044 0 15,044 0 268 14,776
2014 0 0 14,456 0 14,456 0 257 14,199
2015 0 0 13,893 0 13,893 0 248 13,645
2016 0 0 13,351 0 13,351 0 237 13,114
2017 0 0 12,830 0 12,830 0 229 12,601
SUB-TOT 0 0 258,023 0 258,023 0 4,593 253,430
REMAIN 0 0 163,185 0 163,185 0 2,904 160,281
TOTAL 0 0 421,208 0 421,208 0 7,497 413,711
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,002 0 0 0 6,002 15,992 15,992 15,228
2004 6,001 0 0 0 6,001 15,135 31,127 13,047
2005 6,000 0 0 0 6,000 14,312 45,439 11,167
2006 5,998 0 0 0 5,998 13,523 58,962 9,552
2007 5,997 0 0 0 5,997 12,762 71,724 8,160
2008 5,995 0 0 0 5,995 12,032 83,756 6,964
2009 5,994 0 0 0 5,994 11,329 95,085 5,935
2010 5,993 0 0 0 5,993 10,656 105,741 5,054
2011 5,992 0 0 0 5,992 10,007 115,748 4,296
2012 5,991 0 0 0 5,991 9,384 125,132 3,647
2013 5,990 0 0 0 5,990 8,786 133,918 3,091
2014 5,989 0 0 0 5,989 8,210 142,128 2,615
2015 5,987 0 0 0 5,987 7,658 149,786 2,207
2016 5,987 0 0 0 5,987 7,127 156,913 1,860
2017 5,986 0 0 0 5,986 6,615 163,528 1,563
SUBTOT 89,902 0 0 0 89,902 163,528 94,386
REMAIN 109,123 0 0 0 109,123 51,158 214,686 7,042
TOTAL 199,025 0 0 0 199,025 214,686 101,428
LIFE OF EVALUATION IS 33.25 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 124
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
LIPPERT #3 BP (WINFIELD) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 175,853
FINAL - 1.000000 0.875000 4.13 10.00% - 150,324
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING. 15.00% - 129,416
20.00% - 112,162
25.00% - 97,816
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 20 0 0 16.097 0.00 4.13
2005 1 0 0 12 0 0 10.051 0.00 4.13
2006 1 0 0 11 0 0 8.218 0.00 4.13
2007 1 0 0 8 0 0 7.046 0.00 4.13
2008 1 0 0 8 0 0 6.041 0.00 4.13
2009 1 0 0 6 0 0 4.876 0.00 4.13
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 65 0 0 52.329 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 65 0 0 52.329 0.00 4.13
CUMULATIVE 0 0 0 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 65 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 66,479 0 66,479 0 1,183 65,296
2005 0 0 41,510 0 41,510 0 739 40,771
2006 0 0 33,940 0 33,940 0 604 33,336
2007 0 0 29,099 0 29,099 0 518 28,581
2008 0 0 24,949 0 24,949 0 444 24,505
2009 0 0 20,140 0 20,140 0 359 19,781
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 216,117 0 216,117 0 3,847 212,270
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 216,117 0 216,117 0 3,847 212,270
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 5,000 0 5,000 60,296 60,296 51,987
2005 0 0 0 0 0 40,771 101,067 31,887
2006 0 0 0 0 0 33,336 134,403 23,565
2007 0 0 0 0 0 28,581 162,984 18,289
2008 0 0 0 0 0 24,505 187,489 14,194
2009 0 0 0 0 0 19,781 207,270 10,402
2010 0 0 0 0 0 0 207,270 0
2011 0 0 0 0 0 0 207,270 0
2012 0 0 0 0 0 0 207,270 0
2013 0 0 0 0 0 0 207,270 0
2014 0 0 0 0 0 0 207,270 0
2015 0 0 0 0 0 0 207,270 0
2016 0 0 0 0 0 0 207,270 0
2017 0 0 0 0 0 0 207,270 0
SUBTOT 0 0 5,000 0 5,000 207,270 150,324
REMAIN 0 0 0 0 0 0 207,270 0
TOTAL 0 0 5,000 0 5,000 207,270 150,324
LIFE OF EVALUATION IS 6.94 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 125
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
LIPPERT -B- #1 (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 1,224
ULTIMATE 0 0 1,224
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 126
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 29-T16S-R17W PROVED
LIPPERT -B- #2 (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.755625 4.13 5.00% - 24,052
FINAL - 1.000000 0.755625 4.13 10.00% - 17,695
REMARKS - 15.00% - 13,763
20.00% - 11,177
25.00% - 9,382
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 1 0 0 0.677 0.00 4.13
2004 1 0 0 1 0 0 0.643 0.00 4.13
2005 1 0 0 1 0 0 0.611 0.00 4.13
2006 1 0 0 1 0 0 0.580 0.00 4.13
2007 1 0 0 0 0 0 0.551 0.00 4.13
2008 1 0 0 1 0 0 0.524 0.00 4.13
2009 1 0 0 1 0 0 0.497 0.00 4.13
2010 1 0 0 1 0 0 0.473 0.00 4.13
2011 1 0 0 0 0 0 0.449 0.00 4.13
2012 1 0 0 1 0 0 0.426 0.00 4.13
2013 1 0 0 0 0 0 0.405 0.00 4.13
2014 1 0 0 1 0 0 0.385 0.00 4.13
2015 1 0 0 0 0 0 0.366 0.00 4.13
2016 1 0 0 1 0 0 0.347 0.00 4.13
2017 1 0 0 0 0 0 0.330 0.00 4.13
SUB-TOTAL 0 0 10 0 0 7.264 0.00 4.13
REMAINDER 0 0 2 0 0 1.386 0.00 4.13
TOTAL 0 0 12 0 0 8.650 0.00 4.13
CUMULATIVE 0 0 14 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 26 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 2,795 0 2,795 0 50 2,745
2004 0 0 2,654 0 2,654 0 47 2,607
2005 0 0 2,522 0 2,522 0 45 2,477
2006 0 0 2,396 0 2,396 0 43 2,353
2007 0 0 2,277 0 2,277 0 40 2,237
2008 0 0 2,162 0 2,162 0 39 2,123
2009 0 0 2,054 0 2,054 0 36 2,018
2010 0 0 1,952 0 1,952 0 35 1,917
2011 0 0 1,854 0 1,854 0 33 1,821
2012 0 0 1,761 0 1,761 0 31 1,730
2013 0 0 1,673 0 1,673 0 30 1,643
2014 0 0 1,590 0 1,590 0 28 1,562
2015 0 0 1,510 0 1,510 0 27 1,483
2016 0 0 1,434 0 1,434 0 26 1,408
2017 0 0 1,363 0 1,363 0 24 1,339
SUB-TOT 0 0 29,997 0 29,997 0 534 29,463
REMAIN 0 0 5,723 0 5,723 0 102 5,621
TOTAL 0 0 35,720 0 35,720 0 636 35,084
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6 0 0 0 6 2,739 2,739 2,608
2004 5 0 0 0 5 2,602 5,341 2,243
2005 5 0 0 0 5 2,472 7,813 1,929
2006 5 0 0 0 5 2,348 10,161 1,658
2007 4 0 0 0 4 2,233 12,394 1,428
2008 4 0 0 0 4 2,119 14,513 1,226
2009 4 0 0 0 4 2,014 16,527 1,055
2010 4 0 0 0 4 1,913 18,440 908
2011 4 0 0 0 4 1,817 20,257 780
2012 4 0 0 0 4 1,726 21,983 670
2013 3 0 0 0 3 1,640 23,623 577
2014 3 0 0 0 3 1,559 25,182 497
2015 3 0 0 0 3 1,480 26,662 426
2016 3 0 0 0 3 1,405 28,067 367
2017 3 0 0 0 3 1,336 29,403 315
SUBTOT 60 0 0 0 60 29,403 16,687
REMAIN 11 0 0 0 11 5,610 35,013 1,008
TOTAL 71 0 0 0 71 35,013 17,695
LIFE OF EVALUATION IS 19.87 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 127
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 32-T16S-R17W PROVED
LIPPERT -C- #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.765625 4.13 5.00% - 68,793
FINAL - 1.000000 0.765625 4.13 10.00% - 47,386
REMARKS - 15.00% - 35,937
20.00% - 28,926
25.00% - 24,212
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 1.804 0.00 4.13
2004 1 0 0 2 0 0 1.714 0.00 4.13
2005 1 0 0 2 0 0 1.628 0.00 4.13
2006 1 0 0 3 0 0 1.547 0.00 4.13
2007 1 0 0 2 0 0 1.470 0.00 4.13
2008 1 0 0 2 0 0 1.396 0.00 4.13
2009 1 0 0 1 0 0 1.326 0.00 4.13
2010 1 0 0 2 0 0 1.260 0.00 4.13
2011 1 0 0 2 0 0 1.197 0.00 4.13
2012 1 0 0 2 0 0 1.137 0.00 4.13
2013 1 0 0 1 0 0 1.080 0.00 4.13
2014 1 0 0 2 0 0 1.026 0.00 4.13
2015 1 0 0 1 0 0 0.975 0.00 4.13
2016 1 0 0 1 0 0 0.926 0.00 4.13
2017 1 0 0 1 0 0 0.880 0.00 4.13
SUB-TOTAL 0 0 27 0 0 19.366 0.00 4.13
REMAINDER 0 0 17 0 0 11.580 0.00 4.13
TOTAL 0 0 44 0 0 30.946 0.00 4.13
CUMULATIVE 0 0 200 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 244 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 7,452 0 7,452 0 133 7,319
2004 0 0 7,079 0 7,079 0 126 6,953
2005 0 0 6,726 0 6,726 0 119 6,607
2006 0 0 6,389 0 6,389 0 114 6,275
2007 0 0 6,069 0 6,069 0 108 5,961
2008 0 0 5,767 0 5,767 0 103 5,664
2009 0 0 5,477 0 5,477 0 97 5,380
2010 0 0 5,204 0 5,204 0 93 5,111
2011 0 0 4,944 0 4,944 0 88 4,856
2012 0 0 4,697 0 4,697 0 84 4,613
2013 0 0 4,461 0 4,461 0 79 4,382
2014 0 0 4,239 0 4,239 0 75 4,164
2015 0 0 4,027 0 4,027 0 72 3,955
2016 0 0 3,825 0 3,825 0 68 3,757
2017 0 0 3,634 0 3,634 0 65 3,569
SUB-TOT 0 0 79,990 0 79,990 0 1,424 78,566
REMAIN 0 0 47,826 0 47,826 0 851 46,975
TOTAL 0 0 127,816 0 127,816 0 2,275 125,541
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 231 0 0 0 231 7,088 7,088 6,749
2004 229 0 0 0 229 6,724 13,812 5,796
2005 230 0 0 0 230 6,377 20,189 4,976
2006 228 0 0 0 228 6,047 26,236 4,271
2007 228 0 0 0 228 5,733 31,969 3,666
2008 227 0 0 0 227 5,437 37,406 3,146
2009 227 0 0 0 227 5,153 42,559 2,700
2010 226 0 0 0 226 4,885 47,444 2,317
2011 226 0 0 0 226 4,630 52,074 1,987
2012 225 0 0 0 225 4,388 56,462 1,705
2013 225 0 0 0 225 4,157 60,619 1,463
2014 224 0 0 0 224 3,940 64,559 1,254
2015 224 0 0 0 224 3,731 68,290 1,076
2016 224 0 0 0 224 3,533 71,823 922
2017 223 0 0 0 223 3,346 75,169 790
SUBTOT 3,397 0 0 0 3,397 75,169 42,818
REMAIN 5,061 0 0 0 5,061 41,914 117,083 4,568
TOTAL 8,458 0 0 0 8,458 117,083 47,386
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 128
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 3-T17S-R17W PROVED
MCGILL #2 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 436
ULTIMATE 0 0 436
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 129
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 34-T16S-R17W PROVED
O'DELL #1 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 116 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 116 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 130
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 28-T16S-R16W PROVED
OCHS -A- #1 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 165,347
FINAL - 1.000000 0.875000 4.13 10.00% - 107,681
REMARKS - 15.00% - 78,968
20.00% - 62,240
25.00% - 51,369
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 5 0 0 3.761 0.00 4.13
2004 1 0 0 4 0 0 3.648 0.00 4.13
2005 1 0 0 5 0 0 3.538 0.00 4.13
2006 1 0 0 4 0 0 3.432 0.00 4.13
2007 1 0 0 4 0 0 3.329 0.00 4.13
2008 1 0 0 4 0 0 3.229 0.00 4.13
2009 1 0 0 4 0 0 3.133 0.00 4.13
2010 1 0 0 4 0 0 3.039 0.00 4.13
2011 1 0 0 3 0 0 2.947 0.00 4.13
2012 1 0 0 4 0 0 2.859 0.00 4.13
2013 1 0 0 3 0 0 2.773 0.00 4.13
2014 1 0 0 4 0 0 2.690 0.00 4.13
2015 1 0 0 3 0 0 2.609 0.00 4.13
2016 1 0 0 3 0 0 2.531 0.00 4.13
2017 1 0 0 3 0 0 2.455 0.00 4.13
SUB-TOTAL 0 0 57 0 0 45.973 0.00 4.13
REMAINDER 0 0 50 0 0 39.984 0.00 4.13
TOTAL 0 0 107 0 0 85.957 0.00 4.13
CUMULATIVE 0 0 227 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 334 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 15,531 0 15,531 0 276 15,255
2004 0 0 15,066 0 15,066 0 269 14,797
2005 0 0 14,614 0 14,614 0 260 14,354
2006 0 0 14,175 0 14,175 0 252 13,923
2007 0 0 13,750 0 13,750 0 245 13,505
2008 0 0 13,337 0 13,337 0 237 13,100
2009 0 0 12,937 0 12,937 0 231 12,706
2010 0 0 12,549 0 12,549 0 223 12,326
2011 0 0 12,173 0 12,173 0 217 11,956
2012 0 0 11,808 0 11,808 0 210 11,598
2013 0 0 11,453 0 11,453 0 204 11,249
2014 0 0 11,110 0 11,110 0 197 10,913
2015 0 0 10,776 0 10,776 0 192 10,584
2016 0 0 10,453 0 10,453 0 186 10,267
2017 0 0 10,140 0 10,140 0 181 9,959
SUB-TOT 0 0 189,872 0 189,872 0 3,380 186,492
REMAIN 0 0 165,133 0 165,133 0 2,939 162,194
TOTAL 0 0 355,005 0 355,005 0 6,319 348,686
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,083 0 0 0 1,083 14,172 14,172 13,493
2004 1,081 0 0 0 1,081 13,716 27,888 11,821
2005 1,082 0 0 0 1,082 13,272 41,160 10,354
2006 1,080 0 0 0 1,080 12,843 54,003 9,069
2007 1,079 0 0 0 1,079 12,426 66,429 7,944
2008 1,079 0 0 0 1,079 12,021 78,450 6,956
2009 1,078 0 0 0 1,078 11,628 90,078 6,091
2010 1,078 0 0 0 1,078 11,248 101,326 5,333
2011 1,077 0 0 0 1,077 10,879 112,205 4,670
2012 1,076 0 0 0 1,076 10,522 122,727 4,088
2013 1,076 0 0 0 1,076 10,173 132,900 3,578
2014 1,075 0 0 0 1,075 9,838 142,738 3,132
2015 1,074 0 0 0 1,074 9,510 152,248 2,740
2016 1,074 0 0 0 1,074 9,193 161,441 2,399
2017 1,074 0 0 0 1,074 8,885 170,326 2,098
SUBTOT 16,166 0 0 0 16,166 170,326 93,766
REMAIN 24,571 0 0 0 24,571 137,623 307,949 13,915
TOTAL 40,737 0 0 0 40,737 307,949 107,681
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 131
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R17W PROVED
PFEIFER -B- #1 (WABAUNSEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 16
ULTIMATE 0 0 16
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 132
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 10-T17S-R17W PROVED
RAU #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 210,986
FINAL - 1.000000 0.820313 4.13 10.00% - 157,104
REMARKS - 15.00% - 124,473
20.00% - 102,898
25.00% - 87,665
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 10 0 0 7.434 0.00 4.13
2004 1 0 0 9 0 0 6.913 0.00 4.13
2005 1 0 0 9 0 0 6.429 0.00 4.13
2006 1 0 0 7 0 0 5.979 0.00 4.13
2007 1 0 0 8 0 0 5.561 0.00 4.13
2008 1 0 0 7 0 0 5.172 0.00 4.13
2009 1 0 0 6 0 0 4.810 0.00 4.13
2010 1 0 0 6 0 0 4.473 0.00 4.13
2011 1 0 0 5 0 0 4.160 0.00 4.13
2012 1 0 0 6 0 0 3.869 0.00 4.13
2013 1 0 0 4 0 0 3.598 0.00 4.13
2014 1 0 0 5 0 0 3.346 0.00 4.13
2015 1 0 0 4 0 0 3.112 0.00 4.13
2016 1 0 0 4 0 0 2.894 0.00 4.13
2017 1 0 0 3 0 0 2.691 0.00 4.13
SUB-TOTAL 0 0 93 0 0 70.441 0.00 4.13
REMAINDER 0 0 37 0 0 27.482 0.00 4.13
TOTAL 0 0 130 0 0 97.923 0.00 4.13
CUMULATIVE 0 0 2,019 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 2,149 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 30,702 0 30,702 0 546 30,156
2004 0 0 28,552 0 28,552 0 509 28,043
2005 0 0 26,554 0 26,554 0 472 26,082
2006 0 0 24,695 0 24,695 0 440 24,255
2007 0 0 22,966 0 22,966 0 409 22,557
2008 0 0 21,359 0 21,359 0 380 20,979
2009 0 0 19,863 0 19,863 0 354 19,509
2010 0 0 18,473 0 18,473 0 328 18,145
2011 0 0 17,180 0 17,180 0 306 16,874
2012 0 0 15,978 0 15,978 0 285 15,693
2013 0 0 14,859 0 14,859 0 264 14,595
2014 0 0 13,819 0 13,819 0 246 13,573
2015 0 0 12,851 0 12,851 0 229 12,622
2016 0 0 11,952 0 11,952 0 212 11,740
2017 0 0 11,115 0 11,115 0 198 10,917
SUB-TOT 0 0 290,918 0 290,918 0 5,178 285,740
REMAIN 0 0 113,500 0 113,500 0 2,021 111,479
TOTAL 0 0 404,418 0 404,418 0 7,199 397,219
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,492 0 0 0 2,492 27,664 27,664 26,348
2004 2,488 0 0 0 2,488 25,555 53,219 22,033
2005 2,485 0 0 0 2,485 23,597 76,816 18,416
2006 2,481 0 0 0 2,481 21,774 98,590 15,382
2007 2,478 0 0 0 2,478 20,079 118,669 12,841
2008 2,475 0 0 0 2,475 18,504 137,173 10,712
2009 2,472 0 0 0 2,472 17,037 154,210 8,928
2010 2,470 0 0 0 2,470 15,675 169,885 7,435
2011 2,468 0 0 0 2,468 14,406 184,291 6,186
2012 2,465 0 0 0 2,465 13,228 197,519 5,142
2013 2,463 0 0 0 2,463 12,132 209,651 4,269
2014 2,461 0 0 0 2,461 11,112 220,763 3,539
2015 2,460 0 0 0 2,460 10,162 230,925 2,930
2016 2,458 0 0 0 2,458 9,282 240,207 2,423
2017 2,456 0 0 0 2,456 8,461 248,668 1,999
SUBTOT 37,072 0 0 0 37,072 248,668 148,583
REMAIN 49,333 0 0 0 49,333 62,146 310,814 8,521
TOTAL 86,405 0 0 0 86,405 310,814 157,104
LIFE OF EVALUATION IS 35.17 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 133
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 23-T17S-R17W PROVED
REICHEL #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 321,415
FINAL - 1.000000 0.875000 4.13 10.00% - 247,121
REMARKS - 15.00% - 199,545
20.00% - 166,956
25.00% - 143,408
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 16 0 0 12.799 0.00 4.13
2004 1 0 0 15 0 0 11.775 0.00 4.13
2005 1 0 0 13 0 0 10.833 0.00 4.13
2006 1 0 0 12 0 0 9.966 0.00 4.13
2007 1 0 0 12 0 0 9.169 0.00 4.13
2008 1 0 0 10 0 0 8.436 0.00 4.13
2009 1 0 0 10 0 0 7.761 0.00 4.13
2010 1 0 0 9 0 0 7.140 0.00 4.13
2011 1 0 0 8 0 0 6.569 0.00 4.13
2012 1 0 0 7 0 0 6.043 0.00 4.13
2013 1 0 0 7 0 0 5.560 0.00 4.13
2014 1 0 0 7 0 0 5.115 0.00 4.13
2015 1 0 0 6 0 0 4.706 0.00 4.13
2016 1 0 0 5 0 0 4.329 0.00 4.13
2017 1 0 0 5 0 0 3.983 0.00 4.13
SUB-TOTAL 0 0 142 0 0 114.184 0.00 4.13
REMAINDER 0 0 39 0 0 31.250 0.00 4.13
TOTAL 0 0 181 0 0 145.434 0.00 4.13
CUMULATIVE 0 0 292 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 473 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 52,860 0 52,860 0 941 51,919
2004 0 0 48,631 0 48,631 0 866 47,765
2005 0 0 44,741 0 44,741 0 796 43,945
2006 0 0 41,162 0 41,162 0 733 40,429
2007 0 0 37,868 0 37,868 0 674 37,194
2008 0 0 34,839 0 34,839 0 620 34,219
2009 0 0 32,052 0 32,052 0 570 31,482
2010 0 0 29,488 0 29,488 0 525 28,963
2011 0 0 27,129 0 27,129 0 483 26,646
2012 0 0 24,959 0 24,959 0 444 24,515
2013 0 0 22,961 0 22,961 0 409 22,552
2014 0 0 21,125 0 21,125 0 376 20,749
2015 0 0 19,435 0 19,435 0 346 19,089
2016 0 0 17,880 0 17,880 0 318 17,562
2017 0 0 16,450 0 16,450 0 293 16,157
SUB-TOT 0 0 471,580 0 471,580 0 8,394 463,186
REMAIN 0 0 129,062 0 129,062 0 2,297 126,765
TOTAL 0 0 600,642 0 600,642 0 10,691 589,951
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 5,011 0 0 0 5,011 46,908 46,908 44,682
2004 5,003 0 0 0 5,003 42,762 89,670 36,872
2005 4,997 0 0 0 4,997 38,948 128,618 30,400
2006 4,990 0 0 0 4,990 35,439 164,057 25,039
2007 4,985 0 0 0 4,985 32,209 196,266 20,601
2008 4,980 0 0 0 4,980 29,239 225,505 16,928
2009 4,975 0 0 0 4,975 26,507 252,012 13,892
2010 4,970 0 0 0 4,970 23,993 276,005 11,383
2011 4,967 0 0 0 4,967 21,679 297,684 9,311
2012 4,963 0 0 0 4,963 19,552 317,236 7,601
2013 4,959 0 0 0 4,959 17,593 334,829 6,191
2014 4,956 0 0 0 4,956 15,793 350,622 5,031
2015 4,954 0 0 0 4,954 14,135 364,757 4,076
2016 4,950 0 0 0 4,950 12,612 377,369 3,293
2017 4,949 0 0 0 4,949 11,208 388,577 2,648
SUBTOT 74,609 0 0 0 74,609 388,577 237,948
REMAIN 67,871 0 0 0 67,871 58,894 447,471 9,173
TOTAL 142,480 0 0 0 142,480 447,471 247,121
LIFE OF EVALUATION IS 28.75 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 134
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 31-T17S-R16W PROVED
ROTHE #1-31 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 71,369
FINAL - 1.000000 0.875000 4.13 10.00% - 65,061
REMARKS - 15.00% - 59,615
20.00% - 54,890
25.00% - 50,768
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 12 0 0 9.833 0.00 4.13
2004 1 0 0 11 0 0 8.486 0.00 4.13
2005 1 0 0 9 0 0 7.324 0.00 4.13
2006 1 0 0 8 0 0 6.320 0.00 4.13
2007 1 0 0 6 0 0 5.454 0.00 4.13
2008 1 0 0 4 0 0 3.122 0.00 4.13
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 50 0 0 40.539 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 50 0 0 40.539 0.00 4.13
CUMULATIVE 0 0 470 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 520 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 40,611 0 40,611 0 723 39,888
2004 0 0 35,048 0 35,048 0 624 34,424
2005 0 0 30,246 0 30,246 0 538 29,708
2006 0 0 26,103 0 26,103 0 465 25,638
2007 0 0 22,526 0 22,526 0 401 22,125
2008 0 0 12,895 0 12,895 0 229 12,666
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 167,429 0 167,429 0 2,980 164,449
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 167,429 0 167,429 0 2,980 164,449
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 15,202 0 0 0 15,202 24,686 24,686 23,543
2004 15,192 0 0 0 15,192 19,232 43,918 16,606
2005 15,184 0 0 0 15,184 14,524 58,442 11,356
2006 15,176 0 0 0 15,176 10,462 68,904 7,408
2007 15,171 0 0 0 15,171 6,954 75,858 4,461
2008 9,807 0 0 0 9,807 2,859 78,717 1,687
2009 0 0 0 0 0 0 78,717 0
2010 0 0 0 0 0 0 78,717 0
2011 0 0 0 0 0 0 78,717 0
2012 0 0 0 0 0 0 78,717 0
2013 0 0 0 0 0 0 78,717 0
2014 0 0 0 0 0 0 78,717 0
2015 0 0 0 0 0 0 78,717 0
2016 0 0 0 0 0 0 78,717 0
2017 0 0 0 0 0 0 78,717 0
SUBTOT 85,732 0 0 0 85,732 78,717 65,061
REMAIN 0 0 0 0 0 0 78,717 0
TOTAL 85,732 0 0 0 85,732 78,717 65,061
LIFE OF EVALUATION IS 5.65 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 135
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 20-T17S-R16W PROVED
ROTHE, R. #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 76,046
FINAL - 1.000000 0.820313 4.13 10.00% - 63,378
REMARKS - 15.00% - 54,058
20.00% - 46,995
25.00% - 41,500
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 6 0 0 4.366 0.00 4.13
2004 1 0 0 5 0 0 3.842 0.00 4.13
2005 1 0 0 4 0 0 3.381 0.00 4.13
2006 1 0 0 4 0 0 2.976 0.00 4.13
2007 1 0 0 4 0 0 2.618 0.00 4.13
2008 1 0 0 3 0 0 2.304 0.00 4.13
2009 1 0 0 3 0 0 2.028 0.00 4.13
2010 1 0 0 2 0 0 1.784 0.00 4.13
2011 1 0 0 2 0 0 1.570 0.00 4.13
2012 1 0 0 2 0 0 1.382 0.00 4.13
2013 1 0 0 1 0 0 1.216 0.00 4.13
2014 1 0 0 2 0 0 1.070 0.00 4.13
2015 1 0 0 1 0 0 0.942 0.00 4.13
2016 1 0 0 1 0 0 0.829 0.00 4.13
2017 1 0 0 1 0 0 0.729 0.00 4.13
SUB-TOTAL 0 0 41 0 0 31.037 0.00 4.13
REMAINDER 0 0 2 0 0 1.162 0.00 4.13
TOTAL 0 0 43 0 0 32.199 0.00 4.13
CUMULATIVE 0 0 474 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 517 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 18,033 0 18,033 0 321 17,712
2004 0 0 15,869 0 15,869 0 282 15,587
2005 0 0 13,965 0 13,965 0 249 13,716
2006 0 0 12,289 0 12,289 0 219 12,070
2007 0 0 10,814 0 10,814 0 192 10,622
2008 0 0 9,517 0 9,517 0 170 9,347
2009 0 0 8,375 0 8,375 0 149 8,226
2010 0 0 7,369 0 7,369 0 131 7,238
2011 0 0 6,485 0 6,485 0 115 6,370
2012 0 0 5,708 0 5,708 0 102 5,606
2013 0 0 5,022 0 5,022 0 89 4,933
2014 0 0 4,419 0 4,419 0 79 4,340
2015 0 0 3,890 0 3,890 0 69 3,821
2016 0 0 3,422 0 3,422 0 61 3,361
2017 0 0 3,012 0 3,012 0 54 2,958
SUB-TOT 0 0 128,189 0 128,189 0 2,282 125,907
REMAIN 0 0 4,799 0 4,799 0 85 4,714
TOTAL 0 0 132,988 0 132,988 0 2,367 130,621
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,193 0 0 0 2,193 15,519 15,519 14,789
2004 2,189 0 0 0 2,189 13,398 28,917 11,558
2005 2,186 0 0 0 2,186 11,530 40,447 9,004
2006 2,182 0 0 0 2,182 9,888 50,335 6,989
2007 2,180 0 0 0 2,180 8,442 58,777 5,403
2008 2,177 0 0 0 2,177 7,170 65,947 4,153
2009 2,176 0 0 0 2,176 6,050 71,997 3,173
2010 2,173 0 0 0 2,173 5,065 77,062 2,405
2011 2,172 0 0 0 2,172 4,198 81,260 1,804
2012 2,170 0 0 0 2,170 3,436 84,696 1,337
2013 2,169 0 0 0 2,169 2,764 87,460 973
2014 2,169 0 0 0 2,169 2,171 89,631 693
2015 2,167 0 0 0 2,167 1,654 91,285 478
2016 2,166 0 0 0 2,166 1,195 92,480 312
2017 2,165 0 0 0 2,165 793 93,273 188
SUBTOT 32,634 0 0 0 32,634 93,273 63,259
REMAIN 4,149 0 0 0 4,149 565 93,838 119
TOTAL 36,783 0 0 0 36,783 93,838 63,378
LIFE OF EVALUATION IS 16.92 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 136
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 4-T17S-R17W PROVED
SCHEUERMAN #56 (GRWS-SHWN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 147,033
FINAL - 1.000000 0.875000 4.13 10.00% - 93,499
REMARKS - 15.00% - 67,621
20.00% - 52,852
25.00% - 43,385
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 2.992 0.00 4.13
2004 1 0 0 3 0 0 2.917 0.00 4.13
2005 1 0 0 4 0 0 2.844 0.00 4.13
2006 1 0 0 3 0 0 2.773 0.00 4.13
2007 1 0 0 4 0 0 2.704 0.00 4.13
2008 1 0 0 3 0 0 2.636 0.00 4.13
2009 1 0 0 3 0 0 2.570 0.00 4.13
2010 1 0 0 3 0 0 2.506 0.00 4.13
2011 1 0 0 3 0 0 2.444 0.00 4.13
2012 1 0 0 3 0 0 2.382 0.00 4.13
2013 1 0 0 3 0 0 2.323 0.00 4.13
2014 1 0 0 3 0 0 2.265 0.00 4.13
2015 1 0 0 3 0 0 2.208 0.00 4.13
2016 1 0 0 2 0 0 2.153 0.00 4.13
2017 1 0 0 3 0 0 2.099 0.00 4.13
SUB-TOTAL 0 0 47 0 0 37.816 0.00 4.13
REMAINDER 0 0 45 0 0 36.135 0.00 4.13
TOTAL 0 0 92 0 0 73.951 0.00 4.13
CUMULATIVE 0 0 436 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 528 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 12,357 0 12,357 0 220 12,137
2004 0 0 12,049 0 12,049 0 214 11,835
2005 0 0 11,747 0 11,747 0 210 11,537
2006 0 0 11,454 0 11,454 0 203 11,251
2007 0 0 11,167 0 11,167 0 199 10,968
2008 0 0 10,888 0 10,888 0 194 10,694
2009 0 0 10,616 0 10,616 0 189 10,427
2010 0 0 10,350 0 10,350 0 184 10,166
2011 0 0 10,092 0 10,092 0 180 9,912
2012 0 0 9,840 0 9,840 0 175 9,665
2013 0 0 9,593 0 9,593 0 171 9,422
2014 0 0 9,354 0 9,354 0 166 9,188
2015 0 0 9,119 0 9,119 0 163 8,956
2016 0 0 8,892 0 8,892 0 158 8,734
2017 0 0 8,670 0 8,670 0 154 8,516
SUB-TOT 0 0 156,188 0 156,188 0 2,780 153,408
REMAIN 0 0 149,239 0 149,239 0 2,657 146,582
TOTAL 0 0 305,427 0 305,427 0 5,437 299,990
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 417 0 0 0 417 11,720 11,720 11,158
2004 417 0 0 0 417 11,418 23,138 9,840
2005 416 0 0 0 416 11,121 34,259 8,675
2006 416 0 0 0 416 10,835 45,094 7,651
2007 415 0 0 0 415 10,553 55,647 6,746
2008 414 0 0 0 414 10,280 65,927 5,948
2009 415 0 0 0 415 10,012 75,939 5,244
2010 413 0 0 0 413 9,753 85,692 4,625
2011 414 0 0 0 414 9,498 95,190 4,076
2012 413 0 0 0 413 9,252 104,442 3,594
2013 412 0 0 0 412 9,010 113,452 3,169
2014 412 0 0 0 412 8,776 122,228 2,794
2015 412 0 0 0 412 8,544 130,772 2,462
2016 411 0 0 0 411 8,323 139,095 2,171
2017 411 0 0 0 411 8,105 147,200 1,914
SUBTOT 6,208 0 0 0 6,208 147,200 80,067
REMAIN 9,364 0 0 0 9,364 137,218 284,418 13,432
TOTAL 15,572 0 0 0 15,572 284,418 93,499
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 137
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 18-T16S-R17W PROVED
SCHLITTER #2 (PENNSYLVANIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.861328 4.13 5.00% - 11,963
FINAL - 1.000000 0.861328 4.13 10.00% - 10,082
REMARKS - 15.00% - 8,650
20.00% - 7,539
25.00% - 6,659
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 1.246 0.00 4.13
2004 1 0 0 1 0 0 1.183 0.00 4.13
2005 1 0 0 1 0 0 1.123 0.00 4.13
2006 1 0 0 2 0 0 1.067 0.00 4.13
2007 1 0 0 1 0 0 1.013 0.00 4.13
2008 1 0 0 1 0 0 0.961 0.00 4.13
2009 1 0 0 1 0 0 0.913 0.00 4.13
2010 1 0 0 2 0 0 0.867 0.00 4.13
2011 1 0 0 1 0 0 0.823 0.00 4.13
2012 1 0 0 1 0 0 0.781 0.00 4.13
2013 1 0 0 1 0 0 0.742 0.00 4.13
2014 1 0 0 0 0 0 0.704 0.00 4.13
2015 1 0 0 1 0 0 0.614 0.00 4.13
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 15 0 0 12.037 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 15 0 0 12.037 0.00 4.13
CUMULATIVE 0 0 179 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 194 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 5,147 0 5,147 0 92 5,055
2004 0 0 4,887 0 4,887 0 87 4,800
2005 0 0 4,640 0 4,640 0 82 4,558
2006 0 0 4,405 0 4,405 0 79 4,326
2007 0 0 4,183 0 4,183 0 74 4,109
2008 0 0 3,971 0 3,971 0 71 3,900
2009 0 0 3,769 0 3,769 0 67 3,702
2010 0 0 3,580 0 3,580 0 64 3,516
2011 0 0 3,398 0 3,398 0 60 3,338
2012 0 0 3,226 0 3,226 0 57 3,169
2013 0 0 3,063 0 3,063 0 55 3,008
2014 0 0 2,909 0 2,909 0 52 2,857
2015 0 0 2,536 0 2,536 0 45 2,491
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 49,714 0 49,714 0 885 48,829
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 49,714 0 49,714 0 885 48,829
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,661 0 0 0 2,661 2,394 2,394 2,281
2004 2,660 0 0 0 2,660 2,140 4,534 1,845
2005 2,661 0 0 0 2,661 1,897 6,431 1,481
2006 2,659 0 0 0 2,659 1,667 8,098 1,179
2007 2,660 0 0 0 2,660 1,449 9,547 927
2008 2,658 0 0 0 2,658 1,242 10,789 719
2009 2,659 0 0 0 2,659 1,043 11,832 547
2010 2,658 0 0 0 2,658 858 12,690 408
2011 2,658 0 0 0 2,658 680 13,370 292
2012 2,658 0 0 0 2,658 511 13,881 199
2013 2,657 0 0 0 2,657 351 14,232 124
2014 2,657 0 0 0 2,657 200 14,432 64
2015 2,436 0 0 0 2,436 55 14,487 16
2016 0 0 0 0 0 0 14,487 0
2017 0 0 0 0 0 0 14,487 0
SUBTOT 34,342 0 0 0 34,342 14,487 10,082
REMAIN 0 0 0 0 0 0 14,487 0
TOTAL 34,342 0 0 0 34,342 14,487 10,082
LIFE OF EVALUATION IS 12.92 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 138
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 13-T17S-R17W PROVED
SCHNEIDER #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 246,092
FINAL - 1.000000 0.820313 4.13 10.00% - 200,253
REMARKS - 15.00% - 168,265
20.00% - 144,897
25.00% - 127,169
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 16 0 0 12.025 0.00 4.13
2004 1 0 0 14 0 0 10.462 0.00 4.13
2005 1 0 0 12 0 0 9.102 0.00 4.13
2006 1 0 0 10 0 0 7.918 0.00 4.13
2007 1 0 0 9 0 0 6.889 0.00 4.13
2008 1 0 0 8 0 0 5.993 0.00 4.13
2009 1 0 0 7 0 0 5.214 0.00 4.13
2010 1 0 0 6 0 0 4.536 0.00 4.13
2011 1 0 0 6 0 0 3.947 0.00 4.13
2012 1 0 0 4 0 0 3.434 0.00 4.13
2013 1 0 0 4 0 0 2.987 0.00 4.13
2014 1 0 0 4 0 0 2.599 0.00 4.13
2015 1 0 0 3 0 0 2.261 0.00 4.13
2016 1 0 0 2 0 0 1.967 0.00 4.13
2017 1 0 0 2 0 0 1.711 0.00 4.13
SUB-TOTAL 0 0 107 0 0 81.045 0.00 4.13
REMAINDER 0 0 11 0 0 8.067 0.00 4.13
TOTAL 0 0 118 0 0 89.112 0.00 4.13
CUMULATIVE 0 0 430 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 548 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 49,662 0 49,662 0 884 48,778
2004 0 0 43,206 0 43,206 0 769 42,437
2005 0 0 37,589 0 37,589 0 669 36,920
2006 0 0 32,703 0 32,703 0 582 32,121
2007 0 0 28,451 0 28,451 0 507 27,944
2008 0 0 24,753 0 24,753 0 440 24,313
2009 0 0 21,535 0 21,535 0 384 21,151
2010 0 0 18,735 0 18,735 0 333 18,402
2011 0 0 16,300 0 16,300 0 290 16,010
2012 0 0 14,180 0 14,180 0 253 13,927
2013 0 0 12,337 0 12,337 0 219 12,118
2014 0 0 10,734 0 10,734 0 191 10,543
2015 0 0 9,338 0 9,338 0 167 9,171
2016 0 0 8,124 0 8,124 0 144 7,980
2017 0 0 7,068 0 7,068 0 126 6,942
SUB-TOT 0 0 334,715 0 334,715 0 5,958 328,757
REMAIN 0 0 33,316 0 33,316 0 593 32,723
TOTAL 0 0 368,031 0 368,031 0 6,551 361,480
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,999 0 0 0 1,999 46,779 46,779 44,578
2004 1,987 0 0 0 1,987 40,450 87,229 34,894
2005 1,977 0 0 0 1,977 34,943 122,172 27,286
2006 1,967 0 0 0 1,967 30,154 152,326 21,314
2007 1,960 0 0 0 1,960 25,984 178,310 16,627
2008 1,954 0 0 0 1,954 22,359 200,669 12,951
2009 1,947 0 0 0 1,947 19,204 219,873 10,069
2010 1,942 0 0 0 1,942 16,460 236,333 7,812
2011 1,938 0 0 0 1,938 14,072 250,405 6,046
2012 1,934 0 0 0 1,934 11,993 262,398 4,665
2013 1,931 0 0 0 1,931 10,187 272,585 3,587
2014 1,927 0 0 0 1,927 8,616 281,201 2,746
2015 1,925 0 0 0 1,925 7,246 288,447 2,091
2016 1,923 0 0 0 1,923 6,057 294,504 1,582
2017 1,921 0 0 0 1,921 5,021 299,525 1,187
SUBTOT 29,232 0 0 0 29,232 299,525 197,435
REMAIN 16,756 0 0 0 16,756 15,967 315,492 2,818
TOTAL 45,988 0 0 0 45,988 315,492 200,253
LIFE OF EVALUATION IS 23.75 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 139
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 25-T16S-R17W PROVED
SHERWOOD #1 (SHAWNEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.792969 4.13 5.00% - 98,765
FINAL - 1.000000 0.792969 4.13 10.00% - 64,273
REMARKS - 15.00% - 47,094
20.00% - 37,090
25.00% - 30,593
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.386 0.00 4.13
2004 1 0 0 3 0 0 2.322 0.00 4.13
2005 1 0 0 4 0 0 2.259 0.00 4.13
2006 1 0 0 3 0 0 2.198 0.00 4.13
2007 1 0 0 2 0 0 2.139 0.00 4.13
2008 1 0 0 3 0 0 2.081 0.00 4.13
2009 1 0 0 3 0 0 2.025 0.00 4.13
2010 1 0 0 3 0 0 1.970 0.00 4.13
2011 1 0 0 2 0 0 1.917 0.00 4.13
2012 1 0 0 3 0 0 1.865 0.00 4.13
2013 1 0 0 2 0 0 1.815 0.00 4.13
2014 1 0 0 3 0 0 1.766 0.00 4.13
2015 1 0 0 2 0 0 1.718 0.00 4.13
2016 1 0 0 3 0 0 1.672 0.00 4.13
2017 1 0 0 2 0 0 1.627 0.00 4.13
SUB-TOTAL 0 0 41 0 0 29.760 0.00 4.13
REMAINDER 0 0 37 0 0 27.383 0.00 4.13
TOTAL 0 0 78 0 0 57.143 0.00 4.13
CUMULATIVE 0 0 224 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 302 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 9,855 0 9,855 0 175 9,680
2004 0 0 9,588 0 9,588 0 171 9,417
2005 0 0 9,330 0 9,330 0 166 9,164
2006 0 0 9,078 0 9,078 0 162 8,916
2007 0 0 8,832 0 8,832 0 157 8,675
2008 0 0 8,595 0 8,595 0 153 8,442
2009 0 0 8,362 0 8,362 0 149 8,213
2010 0 0 8,136 0 8,136 0 145 7,991
2011 0 0 7,917 0 7,917 0 141 7,776
2012 0 0 7,703 0 7,703 0 137 7,566
2013 0 0 7,495 0 7,495 0 133 7,362
2014 0 0 7,292 0 7,292 0 130 7,162
2015 0 0 7,096 0 7,096 0 126 6,970
2016 0 0 6,904 0 6,904 0 123 6,781
2017 0 0 6,718 0 6,718 0 120 6,598
SUB-TOT 0 0 122,901 0 122,901 0 2,188 120,713
REMAIN 0 0 113,094 0 113,094 0 2,013 111,081
TOTAL 0 0 235,995 0 235,995 0 4,201 231,794
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,267 0 0 0 1,267 8,413 8,413 8,010
2004 1,266 0 0 0 1,266 8,151 16,564 7,024
2005 1,265 0 0 0 1,265 7,899 24,463 6,163
2006 1,266 0 0 0 1,266 7,650 32,113 5,402
2007 1,264 0 0 0 1,264 7,411 39,524 4,737
2008 1,265 0 0 0 1,265 7,177 46,701 4,153
2009 1,263 0 0 0 1,263 6,950 53,651 3,641
2010 1,264 0 0 0 1,264 6,727 60,378 3,190
2011 1,263 0 0 0 1,263 6,513 66,891 2,795
2012 1,262 0 0 0 1,262 6,304 73,195 2,449
2013 1,263 0 0 0 1,263 6,099 79,294 2,145
2014 1,261 0 0 0 1,261 5,901 85,195 1,879
2015 1,262 0 0 0 1,262 5,708 90,903 1,645
2016 1,261 0 0 0 1,261 5,520 96,423 1,440
2017 1,261 0 0 0 1,261 5,337 101,760 1,260
SUBTOT 18,953 0 0 0 18,953 101,760 55,933
REMAIN 28,917 0 0 0 28,917 82,164 183,924 8,340
TOTAL 47,870 0 0 0 47,870 183,924 64,273
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 140
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R17W PROVED
STEITZ -A- #1 (KANSAS CITY) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 20,460
FINAL - 1.000000 0.875000 4.13 10.00% - 18,781
REMARKS - 15.00% - 17,320
20.00% - 16,041
25.00% - 14,917
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.178 0.00 4.13
2004 1 0 0 3 0 0 2.705 0.00 4.13
2005 1 0 0 3 0 0 2.302 0.00 4.13
2006 1 0 0 3 0 0 1.959 0.00 4.13
2007 1 0 0 2 0 0 1.667 0.00 4.13
2008 1 0 0 1 0 0 1.418 0.00 4.13
2009 1 0 0 1 0 0 0.108 0.00 4.13
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 17 0 0 13.337 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 17 0 0 13.337 0.00 4.13
CUMULATIVE 0 0 297 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 314 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 13,126 0 13,126 0 234 12,892
2004 0 0 11,170 0 11,170 0 198 10,972
2005 0 0 9,506 0 9,506 0 170 9,336
2006 0 0 8,089 0 8,089 0 144 7,945
2007 0 0 6,884 0 6,884 0 122 6,762
2008 0 0 5,859 0 5,859 0 104 5,755
2009 0 0 447 0 447 0 8 439
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 55,081 0 55,081 0 980 54,101
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 55,081 0 55,081 0 980 54,101
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 5,219 0 0 0 5,219 7,673 7,673 7,320
2004 5,215 0 0 0 5,215 5,757 13,430 4,972
2005 5,212 0 0 0 5,212 4,124 17,554 3,226
2006 5,210 0 0 0 5,210 2,735 20,289 1,939
2007 5,208 0 0 0 5,208 1,554 21,843 999
2008 5,206 0 0 0 5,206 549 22,392 322
2009 433 0 0 0 433 6 22,398 3
2010 0 0 0 0 0 0 22,398 0
2011 0 0 0 0 0 0 22,398 0
2012 0 0 0 0 0 0 22,398 0
2013 0 0 0 0 0 0 22,398 0
2014 0 0 0 0 0 0 22,398 0
2015 0 0 0 0 0 0 22,398 0
2016 0 0 0 0 0 0 22,398 0
2017 0 0 0 0 0 0 22,398 0
SUBTOT 31,703 0 0 0 31,703 22,398 18,781
REMAIN 0 0 0 0 0 0 22,398 0
TOTAL 31,703 0 0 0 31,703 22,398 18,781
LIFE OF EVALUATION IS 6.08 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 141
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
STEITZ -B- #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 4.13 5.00% - 2,816
FINAL - 1.000000 0.820313 4.13 10.00% - 2,692
REMARKS - 15.00% - 2,576
20.00% - 2,468
25.00% - 2,368
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 2.978 0.00 4.13
2004 1 0 0 4 0 0 2.790 0.00 4.13
2005 1 0 0 3 0 0 2.190 0.00 4.13
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 11 0 0 7.958 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 11 0 0 7.958 0.00 4.13
CUMULATIVE 0 0 353 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 364 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 12,298 0 12,298 0 219 12,079
2004 0 0 11,524 0 11,524 0 205 11,319
2005 0 0 9,047 0 9,047 0 161 8,886
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 32,869 0 32,869 0 585 32,284
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 32,869 0 32,869 0 585 32,284
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 10,354 0 0 0 10,354 1,725 1,725 1,648
2004 10,354 0 0 0 10,354 965 2,690 837
2005 8,626 0 0 0 8,626 260 2,950 207
2006 0 0 0 0 0 0 2,950 0
2007 0 0 0 0 0 0 2,950 0
2008 0 0 0 0 0 0 2,950 0
2009 0 0 0 0 0 0 2,950 0
2010 0 0 0 0 0 0 2,950 0
2011 0 0 0 0 0 0 2,950 0
2012 0 0 0 0 0 0 2,950 0
2013 0 0 0 0 0 0 2,950 0
2014 0 0 0 0 0 0 2,950 0
2015 0 0 0 0 0 0 2,950 0
2016 0 0 0 0 0 0 2,950 0
2017 0 0 0 0 0 0 2,950 0
SUBTOT 29,334 0 0 0 29,334 2,950 2,692
REMAIN 0 0 0 0 0 0 2,950 0
TOTAL 29,334 0 0 0 29,334 2,950 2,692
LIFE OF EVALUATION IS 2.83 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 142
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
THIELENHAUS #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 75,371
FINAL - 1.000000 0.875000 4.13 10.00% - 60,475
REMARKS - 15.00% - 49,955
20.00% - 42,291
25.00% - 36,543
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.134 0.00 4.13
2004 1 0 0 3 0 0 2.871 0.00 4.13
2005 1 0 0 4 0 0 2.629 0.00 4.13
2006 1 0 0 3 0 0 2.409 0.00 4.13
2007 1 0 0 2 0 0 2.206 0.00 4.13
2008 1 0 0 3 0 0 2.021 0.00 4.13
2009 1 0 0 2 0 0 1.851 0.00 4.13
2010 1 0 0 2 0 0 1.696 0.00 4.13
2011 1 0 0 2 0 0 1.553 0.00 4.13
2012 1 0 0 2 0 0 1.423 0.00 4.13
2013 1 0 0 2 0 0 1.303 0.00 4.13
2014 1 0 0 1 0 0 1.194 0.00 4.13
2015 1 0 0 2 0 0 1.093 0.00 4.13
2016 1 0 0 1 0 0 0.917 0.00 4.13
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 33 0 0 26.300 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 33 0 0 26.300 0.00 4.13
CUMULATIVE 0 0 1,138 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 1,171 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 12,943 0 12,943 0 230 12,713
2004 0 0 11,855 0 11,855 0 211 11,644
2005 0 0 10,860 0 10,860 0 194 10,666
2006 0 0 9,947 0 9,947 0 177 9,770
2007 0 0 9,112 0 9,112 0 162 8,950
2008 0 0 8,346 0 8,346 0 149 8,197
2009 0 0 7,645 0 7,645 0 136 7,509
2010 0 0 7,004 0 7,004 0 124 6,880
2011 0 0 6,414 0 6,414 0 114 6,300
2012 0 0 5,876 0 5,876 0 105 5,771
2013 0 0 5,383 0 5,383 0 96 5,287
2014 0 0 4,930 0 4,930 0 88 4,842
2015 0 0 4,516 0 4,516 0 80 4,436
2016 0 0 3,788 0 3,788 0 67 3,721
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 108,619 0 108,619 0 1,933 106,686
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 108,619 0 108,619 0 1,933 106,686
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 694 0 0 0 694 12,019 12,019 11,449
2004 693 0 0 0 693 10,951 22,970 9,442
2005 690 0 0 0 690 9,976 32,946 7,787
2006 689 0 0 0 689 9,081 42,027 6,416
2007 688 0 0 0 688 8,262 50,289 5,284
2008 686 0 0 0 686 7,511 57,800 4,349
2009 685 0 0 0 685 6,824 64,624 3,576
2010 684 0 0 0 684 6,196 70,820 2,939
2011 683 0 0 0 683 5,617 76,437 2,413
2012 682 0 0 0 682 5,089 81,526 1,978
2013 682 0 0 0 682 4,605 86,131 1,620
2014 680 0 0 0 680 4,162 90,293 1,326
2015 680 0 0 0 680 3,756 94,049 1,083
2016 619 0 0 0 619 3,102 97,151 813
2017 0 0 0 0 0 0 97,151 0
SUBTOT 9,535 0 0 0 9,535 97,151 60,475
REMAIN 0 0 0 0 0 0 97,151 0
TOTAL 9,535 0 0 0 9,535 97,151 60,475
LIFE OF EVALUATION IS 13.91 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 143
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 14-T17S-R17W PROVED
THIELENHAUS #1 BP (TOPEKA) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 360,372
FINAL - 1.000000 0.875000 4.13 10.00% - 288,894
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING. 15.00% - 235,726
20.00% - 195,376
25.00% - 164,164
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 29 0 0 22.995 0.00 4.13
2005 1 0 0 20 0 0 16.477 0.00 4.13
2006 1 0 0 18 0 0 14.375 0.00 4.13
2007 1 0 0 15 0 0 12.542 0.00 4.13
2008 1 0 0 14 0 0 10.942 0.00 4.13
2009 1 0 0 12 0 0 9.546 0.00 4.13
2010 1 0 0 10 0 0 8.329 0.00 4.13
2011 1 0 0 9 0 0 7.266 0.00 4.13
2012 1 0 0 8 0 0 6.340 0.00 4.13
2013 1 0 0 7 0 0 5.531 0.00 4.13
2014 1 0 0 3 0 0 2.382 0.00 4.13
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 145 0 0 116.725 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 145 0 0 116.725 0.00 4.13
CUMULATIVE 0 0 0 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 145 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 94,970 0 94,970 0 1,690 93,280
2005 0 0 68,049 0 68,049 0 1,212 66,837
2006 0 0 59,369 0 59,369 0 1,057 58,312
2007 0 0 51,797 0 51,797 0 921 50,876
2008 0 0 45,190 0 45,190 0 805 44,385
2009 0 0 39,426 0 39,426 0 702 38,724
2010 0 0 34,398 0 34,398 0 612 33,786
2011 0 0 30,010 0 30,010 0 534 29,476
2012 0 0 26,182 0 26,182 0 466 25,716
2013 0 0 22,842 0 22,842 0 407 22,435
2014 0 0 9,840 0 9,840 0 175 9,665
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 482,073 0 482,073 0 8,581 473,492
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 482,073 0 482,073 0 8,581 473,492
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 15,000 0 15,000 78,280 78,280 67,185
2005 0 0 0 0 0 66,837 145,117 52,186
2006 0 0 0 0 0 58,312 203,429 41,215
2007 0 0 0 0 0 50,876 254,305 32,551
2008 0 0 0 0 0 44,385 298,690 25,705
2009 0 0 0 0 0 38,724 337,414 20,302
2010 0 0 0 0 0 33,786 371,200 16,033
2011 0 0 0 0 0 29,476 400,676 12,663
2012 0 0 0 0 0 25,716 426,392 10,000
2013 0 0 0 0 0 22,435 448,827 7,897
2014 0 0 0 0 0 9,665 458,492 3,157
2015 0 0 0 0 0 0 458,492 0
2016 0 0 0 0 0 0 458,492 0
2017 0 0 0 0 0 0 458,492 0
SUBTOT 0 0 15,000 0 15,000 458,492 288,894
REMAIN 0 0 0 0 0 0 458,492 0
TOTAL 0 0 15,000 0 15,000 458,492 288,894
LIFE OF EVALUATION IS 11.48 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 144
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 19-T16S-R17W PROVED
TORREY #2 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.861328 4.13 5.00% - 436,792
FINAL - 1.000000 0.861328 4.13 10.00% - 302,438
REMARKS - 15.00% - 229,987
20.00% - 185,396
25.00% - 155,324
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 15 0 0 11.819 0.00 4.13
2004 1 0 0 14 0 0 11.228 0.00 4.13
2005 1 0 0 14 0 0 10.666 0.00 4.13
2006 1 0 0 12 0 0 10.133 0.00 4.13
2007 1 0 0 12 0 0 9.626 0.00 4.13
2008 1 0 0 12 0 0 9.145 0.00 4.13
2009 1 0 0 11 0 0 8.688 0.00 4.13
2010 1 0 0 10 0 0 8.253 0.00 4.13
2011 1 0 0 10 0 0 7.841 0.00 4.13
2012 1 0 0 10 0 0 7.449 0.00 4.13
2013 1 0 0 9 0 0 7.076 0.00 4.13
2014 1 0 0 8 0 0 6.722 0.00 4.13
2015 1 0 0 8 0 0 6.386 0.00 4.13
2016 1 0 0 8 0 0 6.067 0.00 4.13
2017 1 0 0 7 0 0 5.764 0.00 4.13
SUB-TOTAL 0 0 160 0 0 126.863 0.00 4.13
REMAINDER 0 0 96 0 0 75.852 0.00 4.13
TOTAL 0 0 256 0 0 202.715 0.00 4.13
CUMULATIVE 0 0 2,894 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 3,150 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 48,811 0 48,811 0 869 47,942
2004 0 0 46,371 0 46,371 0 825 45,546
2005 0 0 44,052 0 44,052 0 784 43,268
2006 0 0 41,850 0 41,850 0 745 41,105
2007 0 0 39,757 0 39,757 0 708 39,049
2008 0 0 37,770 0 37,770 0 672 37,098
2009 0 0 35,880 0 35,880 0 639 35,241
2010 0 0 34,087 0 34,087 0 607 33,480
2011 0 0 32,383 0 32,383 0 576 31,807
2012 0 0 30,763 0 30,763 0 548 30,215
2013 0 0 29,225 0 29,225 0 520 28,705
2014 0 0 27,764 0 27,764 0 494 27,270
2015 0 0 26,376 0 26,376 0 470 25,906
2016 0 0 25,057 0 25,057 0 446 24,611
2017 0 0 23,804 0 23,804 0 423 23,381
SUB-TOT 0 0 523,950 0 523,950 0 9,326 514,624
REMAIN 0 0 313,267 0 313,267 0 5,576 307,691
TOTAL 0 0 837,217 0 837,217 0 14,902 822,315
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,317 0 0 0 2,317 45,625 45,625 43,446
2004 2,313 0 0 0 2,313 43,233 88,858 37,266
2005 2,309 0 0 0 2,309 40,959 129,817 31,959
2006 2,304 0 0 0 2,304 38,801 168,618 27,406
2007 2,302 0 0 0 2,302 36,747 205,365 23,495
2008 2,297 0 0 0 2,297 34,801 240,166 20,141
2009 2,295 0 0 0 2,295 32,946 273,112 17,261
2010 2,291 0 0 0 2,291 31,189 304,301 14,791
2011 2,289 0 0 0 2,289 29,518 333,819 12,672
2012 2,285 0 0 0 2,285 27,930 361,749 10,854
2013 2,283 0 0 0 2,283 26,422 388,171 9,294
2014 2,281 0 0 0 2,281 24,989 413,160 7,957
2015 2,277 0 0 0 2,277 23,629 436,789 6,811
2016 2,276 0 0 0 2,276 22,335 459,124 5,828
2017 2,274 0 0 0 2,274 21,107 480,231 4,985
SUBTOT 34,393 0 0 0 34,393 480,231 274,166
REMAIN 51,881 0 0 0 51,881 255,810 736,041 28,272
TOTAL 86,274 0 0 0 86,274 736,041 302,438
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 145
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 20-T16S-R17W PROVED
URBAN R & A #1 (WABAUNSEE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 40,948
FINAL - 1.000000 0.875000 4.13 10.00% - 31,748
REMARKS - 15.00% - 25,760
20.00% - 21,615
25.00% - 18,601
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 1.705 0.00 4.13
2004 1 0 0 2 0 0 1.569 0.00 4.13
2005 1 0 0 2 0 0 1.443 0.00 4.13
2006 1 0 0 2 0 0 1.328 0.00 4.13
2007 1 0 0 1 0 0 1.221 0.00 4.13
2008 1 0 0 1 0 0 1.124 0.00 4.13
2009 1 0 0 2 0 0 1.034 0.00 4.13
2010 1 0 0 1 0 0 0.951 0.00 4.13
2011 1 0 0 1 0 0 0.875 0.00 4.13
2012 1 0 0 1 0 0 0.805 0.00 4.13
2013 1 0 0 1 0 0 0.741 0.00 4.13
2014 1 0 0 1 0 0 0.681 0.00 4.13
2015 1 0 0 1 0 0 0.627 0.00 4.13
2016 1 0 0 0 0 0 0.577 0.00 4.13
2017 1 0 0 1 0 0 0.531 0.00 4.13
SUB-TOTAL 0 0 19 0 0 15.212 0.00 4.13
REMAINDER 0 0 5 0 0 3.795 0.00 4.13
TOTAL 0 0 24 0 0 19.007 0.00 4.13
CUMULATIVE 0 0 72 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 96 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 7,042 0 7,042 0 125 6,917
2004 0 0 6,478 0 6,478 0 116 6,362
2005 0 0 5,960 0 5,960 0 106 5,854
2006 0 0 5,483 0 5,483 0 97 5,386
2007 0 0 5,045 0 5,045 0 90 4,955
2008 0 0 4,641 0 4,641 0 83 4,558
2009 0 0 4,269 0 4,269 0 76 4,193
2010 0 0 3,928 0 3,928 0 70 3,858
2011 0 0 3,614 0 3,614 0 64 3,550
2012 0 0 3,325 0 3,325 0 59 3,266
2013 0 0 3,059 0 3,059 0 55 3,004
2014 0 0 2,814 0 2,814 0 50 2,764
2015 0 0 2,589 0 2,589 0 46 2,543
2016 0 0 2,382 0 2,382 0 42 2,340
2017 0 0 2,191 0 2,191 0 39 2,152
SUB-TOT 0 0 62,820 0 62,820 0 1,118 61,702
REMAIN 0 0 15,674 0 15,674 0 279 15,395
TOTAL 0 0 78,494 0 78,494 0 1,397 77,097
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 792 0 0 0 792 6,125 6,125 5,834
2004 791 0 0 0 791 5,571 11,696 4,804
2005 790 0 0 0 790 5,064 16,760 3,953
2006 790 0 0 0 790 4,596 21,356 3,247
2007 788 0 0 0 788 4,167 25,523 2,665
2008 788 0 0 0 788 3,770 29,293 2,183
2009 788 0 0 0 788 3,405 32,698 1,785
2010 786 0 0 0 786 3,072 35,770 1,457
2011 787 0 0 0 787 2,763 38,533 1,187
2012 785 0 0 0 785 2,481 41,014 964
2013 786 0 0 0 786 2,218 43,232 781
2014 784 0 0 0 784 1,980 45,212 631
2015 785 0 0 0 785 1,758 46,970 507
2016 784 0 0 0 784 1,556 48,526 406
2017 784 0 0 0 784 1,368 49,894 323
SUBTOT 11,808 0 0 0 11,808 49,894 30,727
REMAIN 9,127 0 0 0 9,127 6,268 56,162 1,021
TOTAL 20,935 0 0 0 20,935 56,162 31,748
LIFE OF EVALUATION IS 26.67 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 146
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL EAST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 35-T17S-R18W PROVED
BAHR #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.13 5.00% - 146,354
FINAL - 1.000000 0.875000 4.13 10.00% - 96,951
REMARKS - 15.00% - 71,818
20.00% - 56,955
25.00% - 47,198
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.494 0.00 4.13
2004 1 0 0 5 0 0 3.372 0.00 4.13
2005 1 0 0 4 0 0 3.254 0.00 4.13
2006 1 0 0 3 0 0 3.140 0.00 4.13
2007 1 0 0 4 0 0 3.030 0.00 4.13
2008 1 0 0 4 0 0 2.924 0.00 4.13
2009 1 0 0 3 0 0 2.822 0.00 4.13
2010 1 0 0 4 0 0 2.723 0.00 4.13
2011 1 0 0 3 0 0 2.628 0.00 4.13
2012 1 0 0 3 0 0 2.536 0.00 4.13
2013 1 0 0 3 0 0 2.447 0.00 4.13
2014 1 0 0 3 0 0 2.361 0.00 4.13
2015 1 0 0 3 0 0 2.279 0.00 4.13
2016 1 0 0 3 0 0 2.199 0.00 4.13
2017 1 0 0 2 0 0 2.122 0.00 4.13
SUB-TOTAL 0 0 51 0 0 41.331 0.00 4.13
REMAINDER 0 0 41 0 0 32.724 0.00 4.13
TOTAL 0 0 92 0 0 74.055 0.00 4.13
CUMULATIVE 0 0 141 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 233 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 14,432 0 14,432 0 257 14,175
2004 0 0 13,927 0 13,927 0 248 13,679
2005 0 0 13,439 0 13,439 0 239 13,200
2006 0 0 12,969 0 12,969 0 231 12,738
2007 0 0 12,515 0 12,515 0 223 12,292
2008 0 0 12,077 0 12,077 0 215 11,862
2009 0 0 11,654 0 11,654 0 207 11,447
2010 0 0 11,246 0 11,246 0 200 11,046
2011 0 0 10,853 0 10,853 0 193 10,660
2012 0 0 10,473 0 10,473 0 187 10,286
2013 0 0 10,106 0 10,106 0 180 9,926
2014 0 0 9,753 0 9,753 0 173 9,580
2015 0 0 9,411 0 9,411 0 168 9,243
2016 0 0 9,082 0 9,082 0 161 8,921
2017 0 0 8,764 0 8,764 0 156 8,608
SUB-TOT 0 0 170,701 0 170,701 0 3,038 167,663
REMAIN 0 0 135,151 0 135,151 0 2,406 132,745
TOTAL 0 0 305,852 0 305,852 0 5,444 300,408
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 937 0 0 0 937 13,238 13,238 12,604
2004 936 0 0 0 936 12,743 25,981 10,983
2005 935 0 0 0 935 12,265 38,246 9,569
2006 934 0 0 0 934 11,804 50,050 8,336
2007 933 0 0 0 933 11,359 61,409 7,262
2008 933 0 0 0 933 10,929 72,338 6,324
2009 932 0 0 0 932 10,515 82,853 5,508
2010 931 0 0 0 931 10,115 92,968 4,797
2011 931 0 0 0 931 9,729 102,697 4,176
2012 930 0 0 0 930 9,356 112,053 3,635
2013 929 0 0 0 929 8,997 121,050 3,164
2014 929 0 0 0 929 8,651 129,701 2,755
2015 928 0 0 0 928 8,315 138,016 2,396
2016 928 0 0 0 928 7,993 146,009 2,085
2017 927 0 0 0 927 7,681 153,690 1,814
SUBTOT 13,973 0 0 0 13,973 153,690 85,408
REMAIN 21,207 0 0 0 21,207 111,538 265,228 11,543
TOTAL 35,180 0 0 0 35,180 265,228 96,951
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 0.1 MMCF/MO
TENGASCO, INC. TABLE 147
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R18W PROVED
LEGLEITER -A- #1-1 (CHASE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.738281 4.13 5.00% - 254,562
FINAL - 1.000000 0.738281 4.13 10.00% - 185,525
REMARKS - 15.00% - 144,480
20.00% - 117,867
25.00% - 99,405
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 15 0 0 10.161 0.00 4.13
2004 1 0 0 14 0 0 9.754 0.00 4.13
2005 1 0 0 14 0 0 9.364 0.00 4.13
2006 1 0 0 13 0 0 8.990 0.00 4.13
2007 1 0 0 13 0 0 8.630 0.00 4.13
2008 1 0 0 12 0 0 8.285 0.00 4.13
2009 1 0 0 12 0 0 7.953 0.00 4.13
2010 1 0 0 11 0 0 7.635 0.00 4.13
2011 1 0 0 11 0 0 7.330 0.00 4.13
2012 1 0 0 10 0 0 7.037 0.00 4.13
2013 1 0 0 10 0 0 6.755 0.00 4.13
2014 1 0 0 10 0 0 6.485 0.00 4.13
2015 1 0 0 9 0 0 6.226 0.00 4.13
2016 1 0 0 9 0 0 5.977 0.00 4.13
2017 1 0 0 8 0 0 5.737 0.00 4.13
SUB-TOTAL 0 0 171 0 0 116.319 0.00 4.13
REMAINDER 0 0 101 0 0 68.437 0.00 4.13
TOTAL 0 0 272 0 0 184.756 0.00 4.13
CUMULATIVE 0 0 267 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 539 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 41,964 0 41,964 0 747 41,217
2004 0 0 40,285 0 40,285 0 717 39,568
2005 0 0 38,673 0 38,673 0 688 37,985
2006 0 0 37,127 0 37,127 0 661 36,466
2007 0 0 35,641 0 35,641 0 635 35,006
2008 0 0 34,216 0 34,216 0 609 33,607
2009 0 0 32,848 0 32,848 0 584 32,264
2010 0 0 31,533 0 31,533 0 562 30,971
2011 0 0 30,272 0 30,272 0 539 29,733
2012 0 0 29,061 0 29,061 0 517 28,544
2013 0 0 27,899 0 27,899 0 496 27,403
2014 0 0 26,783 0 26,783 0 477 26,306
2015 0 0 25,711 0 25,711 0 458 25,253
2016 0 0 24,683 0 24,683 0 439 24,244
2017 0 0 23,696 0 23,696 0 422 23,274
SUB-TOT 0 0 480,392 0 480,392 0 8,551 471,841
REMAIN 0 0 282,644 0 282,644 0 5,031 277,613
TOTAL 0 0 763,036 0 763,036 0 13,582 749,454
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,521 0 0 0 11,521 29,696 29,696 28,278
2004 11,518 0 0 0 11,518 28,050 57,746 24,180
2005 11,515 0 0 0 11,515 26,470 84,216 20,654
2006 11,511 0 0 0 11,511 24,955 109,171 17,627
2007 11,509 0 0 0 11,509 23,497 132,668 15,024
2008 11,505 0 0 0 11,505 22,102 154,770 12,793
2009 11,503 0 0 0 11,503 20,761 175,531 10,877
2010 11,500 0 0 0 11,500 19,471 195,002 9,235
2011 11,497 0 0 0 11,497 18,236 213,238 7,829
2012 11,495 0 0 0 11,495 17,049 230,287 6,626
2013 11,493 0 0 0 11,493 15,910 246,197 5,598
2014 11,491 0 0 0 11,491 14,815 261,012 4,718
2015 11,488 0 0 0 11,488 13,765 274,777 3,968
2016 11,486 0 0 0 11,486 12,758 287,535 3,329
2017 11,484 0 0 0 11,484 11,790 299,325 2,786
SUBTOT 172,516 0 0 0 172,516 299,325 173,522
REMAIN 193,080 0 0 0 193,080 84,533 383,858 12,003
TOTAL 365,596 0 0 0 365,596 383,858 185,525
LIFE OF EVALUATION IS 31.83 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 148
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 11-T17S-R18W PROVED
LEGLEITER -A- #1-2 (CHASE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 2
ULTIMATE 0 0 2
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 149
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
REICHEL WEST FIELD, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR 1-T17S-R18W PROVED
MUTH #1 & 2 (CHSE-SHWN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.722656 4.13 5.00% - 174,392
FINAL - 1.000000 0.722656 4.13 10.00% - 149,457
REMARKS - 15.00% - 130,099
20.00% - 114,795
25.00% - 102,492
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 0 0 19 0 0 12.362 0.00 4.13
2004 2 0 0 16 0 0 10.879 0.00 4.13
2005 2 0 0 14 0 0 9.573 0.00 4.13
2006 2 0 0 13 0 0 8.424 0.00 4.13
2007 2 0 0 11 0 0 7.413 0.00 4.13
2008 2 0 0 10 0 0 6.524 0.00 4.13
2009 2 0 0 9 0 0 5.741 0.00 4.13
2010 2 0 0 7 0 0 5.052 0.00 4.13
2011 2 0 0 7 0 0 4.446 0.00 4.13
2012 2 0 0 6 0 0 3.912 0.00 4.13
2013 2 0 0 5 0 0 3.443 0.00 4.13
2014 2 0 0 2 0 0 1.203 0.00 4.13
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 119 0 0 78.972 0.00 4.13
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 119 0 0 78.972 0.00 4.13
CUMULATIVE 0 0 619 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 0 0 738 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 51,055 0 51,055 0 909 50,146
2004 0 0 44,929 0 44,929 0 800 44,129
2005 0 0 39,537 0 39,537 0 703 38,834
2006 0 0 34,793 0 34,793 0 620 34,173
2007 0 0 30,617 0 30,617 0 545 30,072
2008 0 0 26,944 0 26,944 0 479 26,465
2009 0 0 23,710 0 23,710 0 422 23,288
2010 0 0 20,865 0 20,865 0 372 20,493
2011 0 0 18,361 0 18,361 0 326 18,035
2012 0 0 16,158 0 16,158 0 288 15,870
2013 0 0 14,219 0 14,219 0 253 13,966
2014 0 0 4,966 0 4,966 0 89 4,877
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 326,154 0 326,154 0 5,806 320,348
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 326,154 0 326,154 0 5,806 320,348
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,994 0 0 0 9,994 40,152 40,152 38,268
2004 9,981 0 0 0 9,981 34,148 74,300 29,461
2005 9,970 0 0 0 9,970 28,864 103,164 22,544
2006 9,961 0 0 0 9,961 24,212 127,376 17,119
2007 9,951 0 0 0 9,951 20,121 147,497 12,879
2008 9,944 0 0 0 9,944 16,521 164,018 9,574
2009 9,937 0 0 0 9,937 13,351 177,369 7,004
2010 9,932 0 0 0 9,932 10,561 187,930 5,016
2011 9,926 0 0 0 9,926 8,109 196,039 3,488
2012 9,921 0 0 0 9,921 5,949 201,988 2,317
2013 9,918 0 0 0 9,918 4,048 206,036 1,429
2014 3,785 0 0 0 3,785 1,092 207,128 358
2015 0 0 0 0 0 0 207,128 0
2016 0 0 0 0 0 0 207,128 0
2017 0 0 0 0 0 0 207,128 0
SUBTOT 113,220 0 0 0 113,220 207,128 149,457
REMAIN 0 0 0 0 0 0 207,128 0
TOTAL 113,220 0 0 0 113,220 207,128 149,457
LIFE OF EVALUATION IS 11.38 YEARS.
FINAL PRODUCTION RATE: 0.4 MMCF/MO
TENGASCO, INC. TABLE 150
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIDGEWAY SOUTH FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 34-T12S-R21W PROVED
SCHOENTHALER #3 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 110,924
FINAL - 1.000000 0.820313 27.29 10.00% - 95,923
REMARKS - 15.00% - 84,138
20.00% - 74,727
25.00% - 67,095
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,768 0 0 1,450 0 0.000 27.29 0.00
2004 1 1,481 0 0 1,216 0 0.000 27.29 0.00
2005 1 1,334 0 0 1,093 0 0.000 27.29 0.00
2006 1 1,200 0 0 985 0 0.000 27.29 0.00
2007 1 1,079 0 0 885 0 0.000 27.29 0.00
2008 1 972 0 0 798 0 0.000 27.29 0.00
2009 1 875 0 0 717 0 0.000 27.29 0.00
2010 1 787 0 0 646 0 0.000 27.29 0.00
2011 1 709 0 0 581 0 0.000 27.29 0.00
2012 1 638 0 0 523 0 0.000 27.29 0.00
2013 1 573 0 0 471 0 0.000 27.29 0.00
2014 1 351 0 0 287 0 0.000 27.29 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 11,767 0 0 9,652 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 11,767 0 0 9,652 0 0.000 27.29 0.00
CUMULATIVE 50,223 0 0
ULTIMATE 61,990 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 39,582 0 0 0 39,582 241 0 39,341
2004 33,162 0 0 0 33,162 203 0 32,959
2005 29,846 0 0 0 29,846 182 0 29,664
2006 26,861 0 0 0 26,861 164 0 26,697
2007 24,175 0 0 0 24,175 147 0 24,028
2008 21,757 0 0 0 21,757 133 0 21,624
2009 19,582 0 0 0 19,582 119 0 19,463
2010 17,624 0 0 0 17,624 108 0 17,516
2011 15,861 0 0 0 15,861 97 0 15,764
2012 14,275 0 0 0 14,275 87 0 14,188
2013 12,847 0 0 0 12,847 78 0 12,769
2014 7,843 0 0 0 7,843 48 0 7,795
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 263,415 0 0 0 263,415 1,607 0 261,808
REMAIN 0 0 0 0 0 0 0 0
TOTAL 263,415 0 0 0 263,415 1,607 0 261,808
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,268 0 0 0 11,268 28,073 28,073 26,795
2004 11,268 0 0 0 11,268 21,691 49,764 18,714
2005 11,268 0 0 0 11,268 18,396 68,160 14,368
2006 11,268 0 0 0 11,268 15,429 83,589 10,909
2007 11,268 0 0 0 11,268 12,760 96,349 8,168
2008 11,268 0 0 0 11,268 10,356 106,705 6,002
2009 11,268 0 0 0 11,268 8,195 114,900 4,300
2010 11,268 0 0 0 11,268 6,248 121,148 2,969
2011 11,268 0 0 0 11,268 4,496 125,644 1,935
2012 11,268 0 0 0 11,268 2,920 128,564 1,139
2013 11,268 0 0 0 11,268 1,501 130,065 532
2014 7,512 0 0 0 7,512 283 130,348 92
2015 0 0 0 0 0 0 130,348 0
2016 0 0 0 0 0 0 130,348 0
2017 0 0 0 0 0 0 130,348 0
SUBTOT 131,460 0 0 0 131,460 130,348 95,923
REMAIN 0 0 0 0 0 0 130,348 0
TOTAL 131,460 0 0 0 131,460 130,348 95,923
LIFE OF EVALUATION IS 11.67 YEARS.
FINAL PRODUCTION RATE: 42 BBLS/MO
TENGASCO, INC. TABLE 151
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T13S-R21W PROVED
KELLER LEASE (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 58,589
FINAL - 1.000000 0.875000 27.29 10.00% - 45,903
REMARKS - 15.00% - 37,348
20.00% - 31,316
25.00% - 26,889
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 562 0 0 492 0 0.000 27.29 0.00
2004 2 535 0 0 468 0 0.000 27.29 0.00
2005 2 510 0 0 446 0 0.000 27.29 0.00
2006 2 484 0 0 424 0 0.000 27.29 0.00
2007 2 462 0 0 404 0 0.000 27.29 0.00
2008 2 440 0 0 385 0 0.000 27.29 0.00
2009 2 418 0 0 366 0 0.000 27.29 0.00
2010 2 398 0 0 348 0 0.000 27.29 0.00
2011 2 380 0 0 332 0 0.000 27.29 0.00
2012 2 361 0 0 316 0 0.000 27.29 0.00
2013 2 343 0 0 301 0 0.000 27.29 0.00
2014 2 328 0 0 286 0 0.000 27.29 0.00
2015 2 311 0 0 272 0 0.000 27.29 0.00
2016 2 297 0 0 260 0 0.000 27.29 0.00
2017 2 282 0 0 247 0 0.000 27.29 0.00
SUB-TOTAL 6,111 0 0 5,347 0 0.000 27.29 0.00
REMAINDER 959 0 0 839 0 0.000 27.29 0.00
TOTAL 7,070 0 0 6,186 0 0.000 27.29 0.00
CUMULATIVE 49,858 0 0
ULTIMATE 56,928 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 13,421 0 0 0 13,421 82 0 13,339
2004 12,777 0 0 0 12,777 78 0 12,699
2005 12,164 0 0 0 12,164 74 0 12,090
2006 11,580 0 0 0 11,580 71 0 11,509
2007 11,024 0 0 0 11,024 67 0 10,957
2008 10,495 0 0 0 10,495 64 0 10,431
2009 9,992 0 0 0 9,992 61 0 9,931
2010 9,511 0 0 0 9,511 58 0 9,453
2011 9,055 0 0 0 9,055 55 0 9,000
2012 8,621 0 0 0 8,621 53 0 8,568
2013 8,206 0 0 0 8,206 50 0 8,156
2014 7,813 0 0 0 7,813 47 0 7,766
2015 7,438 0 0 0 7,438 46 0 7,392
2016 7,081 0 0 0 7,081 43 0 7,038
2017 6,740 0 0 0 6,740 41 0 6,699
SUB-TOT 145,918 0 0 0 145,918 890 0 145,028
REMAIN 22,905 0 0 0 22,905 140 0 22,765
TOTAL 168,823 0 0 0 168,823 1,030 0 167,793
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,752 0 0 0 4,752 8,587 8,587 8,178
2004 4,752 0 0 0 4,752 7,947 16,534 6,852
2005 4,752 0 0 0 4,752 7,338 23,872 5,727
2006 4,752 0 0 0 4,752 6,757 30,629 4,774
2007 4,752 0 0 0 4,752 6,205 36,834 3,968
2008 4,752 0 0 0 4,752 5,679 42,513 3,288
2009 4,752 0 0 0 4,752 5,179 47,692 2,714
2010 4,752 0 0 0 4,752 4,701 52,393 2,230
2011 4,752 0 0 0 4,752 4,248 56,641 1,825
2012 4,752 0 0 0 4,752 3,816 60,457 1,483
2013 4,752 0 0 0 4,752 3,404 63,861 1,198
2014 4,752 0 0 0 4,752 3,014 66,875 961
2015 4,752 0 0 0 4,752 2,640 69,515 761
2016 4,752 0 0 0 4,752 2,286 71,801 597
2017 4,752 0 0 0 4,752 1,947 73,748 460
SUBTOT 71,280 0 0 0 71,280 73,748 45,016
REMAIN 18,154 0 0 0 18,154 4,611 78,359 887
TOTAL 89,434 0 0 0 89,434 78,359 45,903
LIFE OF EVALUATION IS 18.82 YEARS.
FINAL PRODUCTION RATE: 19 BBLS/MO
TENGASCO, INC. TABLE 152
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RIGA NORTHEAST FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 9-T13S-R21W PROVED
KELLER -A- LEASE (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 35,146
FINAL - 1.000000 0.875000 27.29 10.00% - 32,069
REMARKS - 15.00% - 29,411
20.00% - 27,102
25.00% - 25,086
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 1,632 0 0 1,428 0 0.000 27.29 0.00
2004 3 1,522 0 0 1,331 0 0.000 27.29 0.00
2005 3 1,421 0 0 1,244 0 0.000 27.29 0.00
2006 3 1,330 0 0 1,164 0 0.000 27.29 0.00
2007 3 1,248 0 0 1,092 0 0.000 27.29 0.00
2008 3 1,174 0 0 1,027 0 0.000 27.29 0.00
2009 3 375 0 0 329 0 0.000 27.29 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 8,702 0 0 7,615 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 8,702 0 0 7,615 0 0.000 27.29 0.00
CUMULATIVE 102,577 0 0
ULTIMATE 111,279 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 38,979 0 0 0 38,979 238 0 38,741
2004 36,324 0 0 0 36,324 221 0 36,103
2005 33,933 0 0 0 33,933 207 0 33,726
2006 31,769 0 0 0 31,769 194 0 31,575
2007 29,807 0 0 0 29,807 182 0 29,625
2008 28,020 0 0 0 28,020 171 0 27,849
2009 8,971 0 0 0 8,971 55 0 8,916
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 207,803 0 0 0 207,803 1,268 0 206,535
REMAIN 0 0 0 0 0 0 0 0
TOTAL 207,803 0 0 0 207,803 1,268 0 206,535
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 26,496 0 0 0 26,496 12,245 12,245 11,677
2004 26,496 0 0 0 26,496 9,607 21,852 8,295
2005 26,496 0 0 0 26,496 7,230 29,082 5,653
2006 26,496 0 0 0 26,496 5,079 34,161 3,598
2007 26,496 0 0 0 26,496 3,129 37,290 2,009
2008 26,496 0 0 0 26,496 1,353 38,643 791
2009 8,832 0 0 0 8,832 84 38,727 46
2010 0 0 0 0 0 0 38,727 0
2011 0 0 0 0 0 0 38,727 0
2012 0 0 0 0 0 0 38,727 0
2013 0 0 0 0 0 0 38,727 0
2014 0 0 0 0 0 0 38,727 0
2015 0 0 0 0 0 0 38,727 0
2016 0 0 0 0 0 0 38,727 0
2017 0 0 0 0 0 0 38,727 0
SUBTOT 167,808 0 0 0 167,808 38,727 32,069
REMAIN 0 0 0 0 0 0 38,727 0
TOTAL 167,808 0 0 0 167,808 38,727 32,069
LIFE OF EVALUATION IS 6.33 YEARS.
FINAL PRODUCTION RATE: 93 BBLS/MO
TENGASCO, INC. TABLE 153
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T10S-R15W PROVED
MAIER #1 (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.812500 5.00% - 0
FINAL - 0.812500 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 11,113 0 0
ULTIMATE 11,113 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 154
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
RUGGELS WEST FIELD, OSBORNE COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T10S-R15W PROVED
MAIER #1 BP (KSSC-LNSG) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.812500 0.676025 27.29 5.00% - 240,690
FINAL - 0.812500 0.676025 27.29 10.00% - 197,208
REMARKS - 15.00% - 165,414
20.00% - 141,491
25.00% - 123,017
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 3,446 0 0 2,330 0 0.000 27.29 0.00
2004 1 3,157 0 0 2,134 0 0.000 27.29 0.00
2005 1 2,892 0 0 1,955 0 0.000 27.29 0.00
2006 1 2,648 0 0 1,790 0 0.000 27.29 0.00
2007 1 2,426 0 0 1,640 0 0.000 27.29 0.00
2008 1 2,222 0 0 1,502 0 0.000 27.29 0.00
2009 1 2,035 0 0 1,376 0 0.000 27.29 0.00
2010 1 1,864 0 0 1,260 0 0.000 27.29 0.00
2011 1 1,707 0 0 1,154 0 0.000 27.29 0.00
2012 1 1,564 0 0 1,057 0 0.000 27.29 0.00
2013 1 1,432 0 0 968 0 0.000 27.29 0.00
2014 1 1,312 0 0 887 0 0.000 27.29 0.00
2015 1 1,202 0 0 813 0 0.000 27.29 0.00
2016 1 1,100 0 0 744 0 0.000 27.29 0.00
2017 1 1,008 0 0 681 0 0.000 27.29 0.00
SUB-TOTAL 30,015 0 0 20,291 0 0.000 27.29 0.00
REMAINDER 1,070 0 0 723 0 0.000 27.29 0.00
TOTAL 31,085 0 0 21,014 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 31,085 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 63,583 0 0 0 63,583 388 0 63,195
2004 58,238 0 0 0 58,238 355 0 57,883
2005 53,343 0 0 0 53,343 326 0 53,017
2006 48,859 0 0 0 48,859 298 0 48,561
2007 44,752 0 0 0 44,752 273 0 44,479
2008 40,990 0 0 0 40,990 250 0 40,740
2009 37,544 0 0 0 37,544 229 0 37,315
2010 34,388 0 0 0 34,388 209 0 34,179
2011 31,498 0 0 0 31,498 192 0 31,306
2012 28,850 0 0 0 28,850 176 0 28,674
2013 26,425 0 0 0 26,425 162 0 26,263
2014 24,203 0 0 0 24,203 147 0 24,056
2015 22,169 0 0 0 22,169 136 0 22,033
2016 20,306 0 0 0 20,306 123 0 20,183
2017 18,598 0 0 0 18,598 114 0 18,484
SUB-TOT 553,746 0 0 0 553,746 3,378 0 550,368
REMAIN 19,732 0 0 0 19,732 120 0 19,612
TOTAL 573,478 0 0 0 573,478 3,498 0 569,980
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 15,971 0 9,750 0 25,721 37,474 37,474 35,283
2004 15,970 0 0 0 15,970 41,913 79,387 36,148
2005 15,971 0 0 0 15,971 37,046 116,433 28,923
2006 15,970 0 0 0 15,970 32,591 149,024 23,034
2007 15,971 0 0 0 15,971 28,508 177,532 18,240
2008 15,970 0 0 0 15,970 24,770 202,302 14,346
2009 15,971 0 0 0 15,971 21,344 223,646 11,192
2010 15,970 0 0 0 15,970 18,209 241,855 8,643
2011 15,971 0 0 0 15,971 15,335 257,190 6,590
2012 15,970 0 0 0 15,970 12,704 269,894 4,942
2013 15,971 0 0 0 15,971 10,292 280,186 3,626
2014 15,970 0 0 0 15,970 8,086 288,272 2,579
2015 15,971 0 0 0 15,971 6,062 294,334 1,751
2016 15,970 0 0 0 15,970 4,213 298,547 1,103
2017 15,971 0 0 0 15,971 2,513 301,060 596
SUBTOT 239,558 0 9,750 0 249,308 301,060 196,996
REMAIN 18,632 0 0 0 18,632 980 302,040 212
TOTAL 258,190 0 9,750 0 267,940 302,040 197,208
LIFE OF EVALUATION IS 16.17 YEARS.
FINAL PRODUCTION RATE: 73 BBLS/MO
TENGASCO, INC. TABLE 155
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SANDFORD FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T17S-R14W PROVED
BEN TEMPERO #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820312 27.29 5.00% - 253,046
FINAL - 1.000000 0.820312 27.29 10.00% - 199,702
REMARKS - 15.00% - 164,455
20.00% - 139,731
25.00% - 121,527
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 2,588 0 0 2,123 0 0.000 27.29 0.00
2004 1 2,313 0 0 1,897 0 0.000 27.29 0.00
2005 1 2,091 0 0 1,716 0 0.000 27.29 0.00
2006 1 1,907 0 0 1,564 0 0.000 27.29 0.00
2007 1 1,754 0 0 1,439 0 0.000 27.29 0.00
2008 1 1,623 0 0 1,331 0 0.000 27.29 0.00
2009 1 1,510 0 0 1,239 0 0.000 27.29 0.00
2010 1 1,411 0 0 1,158 0 0.000 27.29 0.00
2011 1 1,326 0 0 1,087 0 0.000 27.29 0.00
2012 1 1,250 0 0 1,025 0 0.000 27.29 0.00
2013 1 1,181 0 0 969 0 0.000 27.29 0.00
2014 1 1,120 0 0 919 0 0.000 27.29 0.00
2015 1 1,066 0 0 874 0 0.000 27.29 0.00
2016 1 1,015 0 0 833 0 0.000 27.29 0.00
2017 1 970 0 0 796 0 0.000 27.29 0.00
SUB-TOTAL 23,125 0 0 18,970 0 0.000 27.29 0.00
REMAINDER 7,877 0 0 6,461 0 0.000 27.29 0.00
TOTAL 31,002 0 0 25,431 0 0.000 27.29 0.00
CUMULATIVE 112,154 0 0
ULTIMATE 143,156 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 57,938 0 0 0 57,938 353 0 57,585
2004 51,780 0 0 0 51,780 316 0 51,464
2005 46,806 0 0 0 46,806 286 0 46,520
2006 42,700 0 0 0 42,700 260 0 42,440
2007 39,257 0 0 0 39,257 240 0 39,017
2008 36,327 0 0 0 36,327 221 0 36,106
2009 33,802 0 0 0 33,802 207 0 33,595
2010 31,606 0 0 0 31,606 192 0 31,414
2011 29,676 0 0 0 29,676 181 0 29,495
2012 27,969 0 0 0 27,969 171 0 27,798
2013 26,447 0 0 0 26,447 161 0 26,286
2014 25,081 0 0 0 25,081 153 0 24,928
2015 23,850 0 0 0 23,850 146 0 23,704
2016 22,733 0 0 0 22,733 138 0 22,595
2017 21,716 0 0 0 21,716 133 0 21,583
SUB-TOT 517,688 0 0 0 517,688 3,158 0 514,530
REMAIN 176,330 0 0 0 176,330 1,076 0 175,254
TOTAL 694,018 0 0 0 694,018 4,234 0 689,784
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 13,908 0 0 0 13,908 43,677 43,677 41,626
2004 13,908 0 0 0 13,908 37,556 81,233 32,397
2005 13,908 0 0 0 13,908 32,612 113,845 25,464
2006 13,908 0 0 0 13,908 28,532 142,377 20,165
2007 13,908 0 0 0 13,908 25,109 167,486 16,063
2008 13,908 0 0 0 13,908 22,198 189,684 12,855
2009 13,908 0 0 0 13,908 19,687 209,371 10,319
2010 13,908 0 0 0 13,908 17,506 226,877 8,307
2011 13,908 0 0 0 13,908 15,587 242,464 6,694
2012 13,908 0 0 0 13,908 13,890 256,354 5,401
2013 13,908 0 0 0 13,908 12,378 268,732 4,356
2014 13,908 0 0 0 13,908 11,020 279,752 3,511
2015 13,908 0 0 0 13,908 9,796 289,548 2,825
2016 13,908 0 0 0 13,908 8,687 298,235 2,268
2017 13,908 0 0 0 13,908 7,675 305,910 1,814
SUBTOT 208,620 0 0 0 208,620 305,910 194,065
REMAIN 141,398 0 0 0 141,398 33,856 339,766 5,637
TOTAL 350,018 0 0 0 350,018 339,766 199,702
LIFE OF EVALUATION IS 25.17 YEARS.
FINAL PRODUCTION RATE: 52 BBLS/MO
TENGASCO, INC. TABLE 156
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SANDFORD FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T17S-R14W PROVED
BEN TEMPERO #5 PUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820312 27.29 5.00% - 353,990
FINAL - 1.000000 0.820312 27.29 10.00% - 238,543
REMARKS - 15.00% - 168,969
20.00% - 124,043
25.00% - 93,420
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 3,782 0 0 3,102 0 0.000 27.29 0.00
2005 1 3,562 0 0 2,923 0 0.000 27.29 0.00
2006 1 2,857 0 0 2,343 0 0.000 27.29 0.00
2007 1 2,697 0 0 2,212 0 0.000 27.29 0.00
2008 1 2,547 0 0 2,090 0 0.000 27.29 0.00
2009 1 2,405 0 0 1,973 0 0.000 27.29 0.00
2010 1 2,272 0 0 1,863 0 0.000 27.29 0.00
2011 1 2,144 0 0 1,759 0 0.000 27.29 0.00
2012 1 2,026 0 0 1,662 0 0.000 27.29 0.00
2013 1 1,912 0 0 1,569 0 0.000 27.29 0.00
2014 1 1,806 0 0 1,481 0 0.000 27.29 0.00
2015 1 1,706 0 0 1,399 0 0.000 27.29 0.00
2016 1 1,610 0 0 1,321 0 0.000 27.29 0.00
2017 1 1,521 0 0 1,248 0 0.000 27.29 0.00
SUB-TOTAL 32,847 0 0 26,945 0 0.000 27.29 0.00
REMAINDER 13,138 0 0 10,777 0 0.000 27.29 0.00
TOTAL 45,985 0 0 37,722 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 45,985 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 84,667 0 0 0 84,667 516 0 84,151
2005 79,746 0 0 0 79,746 487 0 79,259
2006 63,943 0 0 0 63,943 390 0 63,553
2007 60,383 0 0 0 60,383 368 0 60,015
2008 57,019 0 0 0 57,019 348 0 56,671
2009 53,845 0 0 0 53,845 329 0 53,516
2010 50,845 0 0 0 50,845 310 0 50,535
2011 48,015 0 0 0 48,015 293 0 47,722
2012 45,340 0 0 0 45,340 276 0 45,064
2013 42,815 0 0 0 42,815 261 0 42,554
2014 40,431 0 0 0 40,431 247 0 40,184
2015 38,179 0 0 0 38,179 233 0 37,946
2016 36,053 0 0 0 36,053 220 0 35,833
2017 34,045 0 0 0 34,045 207 0 33,838
SUB-TOT 735,326 0 0 0 735,326 4,485 0 730,841
REMAIN 294,100 0 0 0 294,100 1,794 0 292,306
TOTAL 1,029,426 0 0 0 1,029,426 6,279 0 1,023,147
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,954 0 100,000 0 106,954 -22,803 -22,803 -20,740
2005 13,908 0 0 0 13,908 65,351 42,548 51,312
2006 13,908 0 0 0 13,908 49,645 92,193 35,070
2007 13,908 0 0 0 13,908 46,107 138,300 29,485
2008 13,908 0 0 0 13,908 42,763 181,063 24,754
2009 13,908 0 0 0 13,908 39,608 220,671 20,754
2010 13,908 0 0 0 13,908 36,627 257,298 17,374
2011 13,908 0 0 0 13,908 33,814 291,112 14,519
2012 13,908 0 0 0 13,908 31,156 322,268 12,110
2013 13,908 0 0 0 13,908 28,646 350,914 10,080
2014 13,908 0 0 0 13,908 26,276 377,190 8,369
2015 13,908 0 0 0 13,908 24,038 401,228 6,930
2016 13,908 0 0 0 13,908 21,925 423,153 5,723
2017 13,908 0 0 0 13,908 19,930 443,083 4,709
SUBTOT 187,758 0 100,000 0 287,758 443,083 220,449
REMAIN 172,871 0 0 0 172,871 119,435 562,518 18,094
TOTAL 360,629 0 100,000 0 460,629 562,518 238,543
LIFE OF EVALUATION IS 27.43 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 157
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SCHWINDT FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T17S-R18W PROVED
JACOBS -B- #3 (CNGL-LNSG-MSSP-VIOL) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 194,131
FINAL - 1.000000 0.875000 27.29 10.00% - 153,919
REMARKS - 15.00% - 126,446
20.00% - 106,834
25.00% - 92,289
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,729 0 0 1,513 0 0.000 27.29 0.00
2004 1 1,617 0 0 1,415 0 0.000 27.29 0.00
2005 1 1,512 0 0 1,323 0 0.000 27.29 0.00
2006 1 1,413 0 0 1,236 0 0.000 27.29 0.00
2007 1 1,322 0 0 1,157 0 0.000 27.29 0.00
2008 1 1,236 0 0 1,081 0 0.000 27.29 0.00
2009 1 1,155 0 0 1,011 0 0.000 27.29 0.00
2010 1 1,080 0 0 945 0 0.000 27.29 0.00
2011 1 1,010 0 0 884 0 0.000 27.29 0.00
2012 1 945 0 0 826 0 0.000 27.29 0.00
2013 1 883 0 0 773 0 0.000 27.29 0.00
2014 1 825 0 0 722 0 0.000 27.29 0.00
2015 1 772 0 0 676 0 0.000 27.29 0.00
2016 1 722 0 0 631 0 0.000 27.29 0.00
2017 1 675 0 0 591 0 0.000 27.29 0.00
SUB-TOTAL 16,896 0 0 14,784 0 0.000 27.29 0.00
REMAINDER 3,112 0 0 2,723 0 0.000 27.29 0.00
TOTAL 20,008 0 0 17,507 0 0.000 27.29 0.00
CUMULATIVE 75,445 0 0
ULTIMATE 95,453 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 41,292 0 0 0 41,292 252 0 41,040
2004 38,608 0 0 0 38,608 235 0 38,373
2005 36,099 0 0 0 36,099 221 0 35,878
2006 33,752 0 0 0 33,752 205 0 33,547
2007 31,558 0 0 0 31,558 193 0 31,365
2008 29,507 0 0 0 29,507 180 0 29,327
2009 27,589 0 0 0 27,589 168 0 27,421
2010 25,796 0 0 0 25,796 158 0 25,638
2011 24,119 0 0 0 24,119 147 0 23,972
2012 22,551 0 0 0 22,551 137 0 22,414
2013 21,086 0 0 0 21,086 129 0 20,957
2014 19,714 0 0 0 19,714 120 0 19,594
2015 18,434 0 0 0 18,434 113 0 18,321
2016 17,235 0 0 0 17,235 105 0 17,130
2017 16,115 0 0 0 16,115 98 0 16,017
SUB-TOT 403,455 0 0 0 403,455 2,461 0 400,994
REMAIN 74,303 0 0 0 74,303 453 0 73,850
TOTAL 477,758 0 0 0 477,758 2,914 0 474,844
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 10,548 0 0 0 10,548 30,492 30,492 29,044
2004 10,548 0 0 0 10,548 27,825 58,317 23,993
2005 10,548 0 0 0 10,548 25,330 83,647 19,771
2006 10,548 0 0 0 10,548 22,999 106,646 16,250
2007 10,548 0 0 0 10,548 20,817 127,463 13,315
2008 10,548 0 0 0 10,548 18,779 146,242 10,873
2009 10,548 0 0 0 10,548 16,873 163,115 8,844
2010 10,548 0 0 0 10,548 15,090 178,205 7,160
2011 10,548 0 0 0 10,548 13,424 191,629 5,766
2012 10,548 0 0 0 10,548 11,866 203,495 4,614
2013 10,548 0 0 0 10,548 10,409 213,904 3,664
2014 10,548 0 0 0 10,548 9,046 222,950 2,882
2015 10,548 0 0 0 10,548 7,773 230,723 2,243
2016 10,548 0 0 0 10,548 6,582 237,305 1,719
2017 10,548 0 0 0 10,548 5,469 242,774 1,293
SUBTOT 158,220 0 0 0 158,220 242,774 151,431
REMAIN 60,651 0 0 0 60,651 13,199 255,973 2,488
TOTAL 218,871 0 0 0 218,871 255,973 153,919
LIFE OF EVALUATION IS 20.75 YEARS.
FINAL PRODUCTION RATE: 37 BBLS/MO
TENGASCO, INC. TABLE 158
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SPRING CREEK FIELD, TREGO COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 32-T12S-R21W PROVED
RIDGWAY #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.779300 27.29 5.00% - 153,711
FINAL - 1.000000 0.779300 27.29 10.00% - 128,849
REMARKS - 15.00% - 110,152
20.00% - 95,770
25.00% - 84,474
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 2,315 0 0 1,804 0 0.000 27.29 0.00
2004 1 2,153 0 0 1,678 0 0.000 27.29 0.00
2005 1 2,002 0 0 1,560 0 0.000 27.29 0.00
2006 1 1,862 0 0 1,451 0 0.000 27.29 0.00
2007 1 1,732 0 0 1,350 0 0.000 27.29 0.00
2008 1 1,610 0 0 1,255 0 0.000 27.29 0.00
2009 1 1,498 0 0 1,167 0 0.000 27.29 0.00
2010 1 1,393 0 0 1,086 0 0.000 27.29 0.00
2011 1 1,296 0 0 1,009 0 0.000 27.29 0.00
2012 1 1,204 0 0 939 0 0.000 27.29 0.00
2013 1 1,121 0 0 873 0 0.000 27.29 0.00
2014 1 1,042 0 0 812 0 0.000 27.29 0.00
2015 1 969 0 0 755 0 0.000 27.29 0.00
2016 1 828 0 0 646 0 0.000 27.29 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 21,025 0 0 16,385 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 21,025 0 0 16,385 0 0.000 27.29 0.00
CUMULATIVE 111,917 0 0
ULTIMATE 132,942 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 49,233 0 0 0 49,233 300 0 48,933
2004 45,787 0 0 0 45,787 280 0 45,507
2005 42,581 0 0 0 42,581 259 0 42,322
2006 39,601 0 0 0 39,601 242 0 39,359
2007 36,829 0 0 0 36,829 225 0 36,604
2008 34,251 0 0 0 34,251 209 0 34,042
2009 31,853 0 0 0 31,853 194 0 31,659
2010 29,624 0 0 0 29,624 181 0 29,443
2011 27,550 0 0 0 27,550 168 0 27,382
2012 25,621 0 0 0 25,621 156 0 25,465
2013 23,828 0 0 0 23,828 145 0 23,683
2014 22,160 0 0 0 22,160 135 0 22,025
2015 20,609 0 0 0 20,609 126 0 20,483
2016 17,621 0 0 0 17,621 108 0 17,513
2017 0 0 0 0 0 0 0 0
SUB-TOT 447,148 0 0 0 447,148 2,728 0 444,420
REMAIN 0 0 0 0 0 0 0 0
TOTAL 447,148 0 0 0 447,148 2,728 0 444,420
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 18,456 0 0 0 18,456 30,477 30,477 29,036
2004 18,456 0 0 0 18,456 27,051 57,528 23,331
2005 18,456 0 0 0 18,456 23,866 81,394 18,633
2006 18,456 0 0 0 18,456 20,903 102,297 14,775
2007 18,456 0 0 0 18,456 18,148 120,445 11,612
2008 18,456 0 0 0 18,456 15,586 136,031 9,028
2009 18,456 0 0 0 18,456 13,203 149,234 6,924
2010 18,456 0 0 0 18,456 10,987 160,221 5,216
2011 18,456 0 0 0 18,456 8,926 169,147 3,838
2012 18,456 0 0 0 18,456 7,009 176,156 2,728
2013 18,456 0 0 0 18,456 5,227 181,383 1,843
2014 18,456 0 0 0 18,456 3,569 184,952 1,140
2015 18,456 0 0 0 18,456 2,027 186,979 587
2016 16,918 0 0 0 16,918 595 187,574 158
2017 0 0 0 0 0 0 187,574 0
SUBTOT 256,846 0 0 0 256,846 187,574 128,849
REMAIN 0 0 0 0 0 0 187,574 0
TOTAL 256,846 0 0 0 256,846 187,574 128,849
LIFE OF EVALUATION IS 13.92 YEARS.
FINAL PRODUCTION RATE: 73 BBLS/MO
TENGASCO, INC. TABLE 159
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STOCKTON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 35-T7S-R17W PROVED
HINDMAN #1 (TOPEKA) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.809370 27.29 5.00% - 57,725
FINAL - 1.000000 0.809370 27.29 10.00% - 44,269
REMARKS - 15.00% - 35,492
20.00% - 29,453
25.00% - 25,102
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 685 0 0 554 0 0.000 27.29 0.00
2004 1 663 0 0 537 0 0.000 27.29 0.00
2005 1 641 0 0 519 0 0.000 27.29 0.00
2006 1 622 0 0 503 0 0.000 27.29 0.00
2007 1 601 0 0 487 0 0.000 27.29 0.00
2008 1 582 0 0 471 0 0.000 27.29 0.00
2009 1 563 0 0 456 0 0.000 27.29 0.00
2010 1 546 0 0 441 0 0.000 27.29 0.00
2011 1 528 0 0 427 0 0.000 27.29 0.00
2012 1 511 0 0 414 0 0.000 27.29 0.00
2013 1 494 0 0 400 0 0.000 27.29 0.00
2014 1 479 0 0 388 0 0.000 27.29 0.00
2015 1 464 0 0 375 0 0.000 27.29 0.00
2016 1 448 0 0 363 0 0.000 27.29 0.00
2017 1 435 0 0 352 0 0.000 27.29 0.00
SUB-TOTAL 8,262 0 0 6,687 0 0.000 27.29 0.00
REMAINDER 2,927 0 0 2,369 0 0.000 27.29 0.00
TOTAL 11,189 0 0 9,056 0 0.000 27.29 0.00
CUMULATIVE 50,095 0 0
ULTIMATE 61,284 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 15,126 0 0 0 15,126 92 0 15,034
2004 14,641 0 0 0 14,641 90 0 14,551
2005 14,174 0 0 0 14,174 86 0 14,088
2006 13,719 0 0 0 13,719 84 0 13,635
2007 13,281 0 0 0 13,281 81 0 13,200
2008 12,856 0 0 0 12,856 78 0 12,778
2009 12,444 0 0 0 12,444 76 0 12,368
2010 12,046 0 0 0 12,046 74 0 11,972
2011 11,660 0 0 0 11,660 71 0 11,589
2012 11,288 0 0 0 11,288 69 0 11,219
2013 10,926 0 0 0 10,926 66 0 10,860
2014 10,577 0 0 0 10,577 65 0 10,512
2015 10,238 0 0 0 10,238 62 0 10,176
2016 9,910 0 0 0 9,910 61 0 9,849
2017 9,594 0 0 0 9,594 58 0 9,536
SUB-TOT 182,480 0 0 0 182,480 1,113 0 181,367
REMAIN 64,656 0 0 0 64,656 395 0 64,261
TOTAL 247,136 0 0 0 247,136 1,508 0 245,628
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,296 0 0 0 7,296 7,738 7,738 7,369
2004 7,296 0 0 0 7,296 7,255 14,993 6,254
2005 7,296 0 0 0 7,296 6,792 21,785 5,300
2006 7,296 0 0 0 7,296 6,339 28,124 4,478
2007 7,296 0 0 0 7,296 5,904 34,028 3,776
2008 7,296 0 0 0 7,296 5,482 39,510 3,173
2009 7,296 0 0 0 7,296 5,072 44,582 2,658
2010 7,296 0 0 0 7,296 4,676 49,258 2,218
2011 7,296 0 0 0 7,296 4,293 53,551 1,843
2012 7,296 0 0 0 7,296 3,923 57,474 1,525
2013 7,296 0 0 0 7,296 3,564 61,038 1,255
2014 7,296 0 0 0 7,296 3,216 64,254 1,024
2015 7,296 0 0 0 7,296 2,880 67,134 831
2016 7,296 0 0 0 7,296 2,553 69,687 666
2017 7,296 0 0 0 7,296 2,240 71,927 530
SUBTOT 109,440 0 0 0 109,440 71,927 42,900
REMAIN 56,544 0 0 0 56,544 7,717 79,644 1,369
TOTAL 165,984 0 0 0 165,984 79,644 44,269
LIFE OF EVALUATION IS 22.75 YEARS.
FINAL PRODUCTION RATE: 28 BBLS/MO
TENGASCO, INC. TABLE 160
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STOCKTON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T7S-R17W PROVED
STEBBINS #1 (HOWARD) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.925000 0.751570 27.29 5.00% - 103,340
FINAL - 0.925000 0.751570 27.29 10.00% - 75,611
REMARKS - 15.00% - 58,961
20.00% - 48,113
25.00% - 40,571
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 908 0 0 682 0 0.000 27.29 0.00
2004 1 876 0 0 659 0 0.000 27.29 0.00
2005 1 845 0 0 635 0 0.000 27.29 0.00
2006 1 816 0 0 613 0 0.000 27.29 0.00
2007 1 787 0 0 592 0 0.000 27.29 0.00
2008 1 760 0 0 570 0 0.000 27.29 0.00
2009 1 733 0 0 551 0 0.000 27.29 0.00
2010 1 707 0 0 532 0 0.000 27.29 0.00
2011 1 683 0 0 513 0 0.000 27.29 0.00
2012 1 658 0 0 495 0 0.000 27.29 0.00
2013 1 636 0 0 478 0 0.000 27.29 0.00
2014 1 613 0 0 461 0 0.000 27.29 0.00
2015 1 592 0 0 445 0 0.000 27.29 0.00
2016 1 572 0 0 429 0 0.000 27.29 0.00
2017 1 551 0 0 414 0 0.000 27.29 0.00
SUB-TOTAL 10,737 0 0 8,069 0 0.000 27.29 0.00
REMAINDER 6,344 0 0 4,769 0 0.000 27.29 0.00
TOTAL 17,081 0 0 12,838 0 0.000 27.29 0.00
CUMULATIVE 46,248 0 0
ULTIMATE 63,329 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 18,618 0 0 0 18,618 114 0 18,504
2004 17,966 0 0 0 17,966 109 0 17,857
2005 17,338 0 0 0 17,338 106 0 17,232
2006 16,730 0 0 0 16,730 102 0 16,628
2007 16,146 0 0 0 16,146 98 0 16,048
2008 15,580 0 0 0 15,580 96 0 15,484
2009 15,034 0 0 0 15,034 91 0 14,943
2010 14,509 0 0 0 14,509 89 0 14,420
2011 14,000 0 0 0 14,000 85 0 13,915
2012 13,511 0 0 0 13,511 83 0 13,428
2013 13,038 0 0 0 13,038 79 0 12,959
2014 12,581 0 0 0 12,581 77 0 12,504
2015 12,142 0 0 0 12,142 74 0 12,068
2016 11,716 0 0 0 11,716 71 0 11,645
2017 11,306 0 0 0 11,306 69 0 11,237
SUB-TOT 220,215 0 0 0 220,215 1,343 0 218,872
REMAIN 130,131 0 0 0 130,131 794 0 129,337
TOTAL 350,346 0 0 0 350,346 2,137 0 348,209
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,427 0 0 0 6,427 12,077 12,077 11,500
2004 6,427 0 0 0 6,427 11,430 23,507 9,853
2005 6,427 0 0 0 6,427 10,805 34,312 8,431
2006 6,427 0 0 0 6,427 10,201 44,513 7,205
2007 6,427 0 0 0 6,427 9,621 54,134 6,152
2008 6,426 0 0 0 6,426 9,058 63,192 5,243
2009 6,427 0 0 0 6,427 8,516 71,708 4,462
2010 6,427 0 0 0 6,427 7,993 79,701 3,790
2011 6,427 0 0 0 6,427 7,488 87,189 3,215
2012 6,427 0 0 0 6,427 7,001 94,190 2,721
2013 6,427 0 0 0 6,427 6,532 100,722 2,298
2014 6,427 0 0 0 6,427 6,077 106,799 1,936
2015 6,427 0 0 0 6,427 5,641 112,440 1,626
2016 6,427 0 0 0 6,427 5,218 117,658 1,362
2017 6,426 0 0 0 6,426 4,811 122,469 1,136
SUBTOT 96,403 0 0 0 96,403 122,469 70,930
REMAIN 97,475 0 0 0 97,475 31,862 154,331 4,681
TOTAL 193,878 0 0 0 193,878 154,331 75,611
LIFE OF EVALUATION IS 30.17 YEARS.
FINAL PRODUCTION RATE: 26 BBLS/MO
TENGASCO, INC. TABLE 161
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STOCKTON FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 26-T7S-R17W PROVED
WATTS #1 PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.925000 0.809380 27.29 5.00% - 31,893
FINAL - 0.925000 0.809380 27.29 10.00% - 27,227
REMARKS - 15.00% - 23,599
20.00% - 20,730
25.00% - 18,427
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 714 0 0 578 0 0.000 27.29 0.00
2004 1 677 0 0 548 0 0.000 27.29 0.00
2005 1 644 0 0 521 0 0.000 27.29 0.00
2006 1 612 0 0 496 0 0.000 27.29 0.00
2007 1 581 0 0 470 0 0.000 27.29 0.00
2008 1 552 0 0 447 0 0.000 27.29 0.00
2009 1 525 0 0 424 0 0.000 27.29 0.00
2010 1 498 0 0 404 0 0.000 27.29 0.00
2011 1 474 0 0 383 0 0.000 27.29 0.00
2012 1 449 0 0 364 0 0.000 27.29 0.00
2013 1 428 0 0 346 0 0.000 27.29 0.00
2014 1 272 0 0 220 0 0.000 27.29 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 6,426 0 0 5,201 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 6,426 0 0 5,201 0 0.000 27.29 0.00
CUMULATIVE 42,692 0 0
ULTIMATE 49,118 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 15,761 0 0 0 15,761 96 0 15,665
2004 14,972 0 0 0 14,972 91 0 14,881
2005 14,224 0 0 0 14,224 87 0 14,137
2006 13,513 0 0 0 13,513 83 0 13,430
2007 12,838 0 0 0 12,838 78 0 12,760
2008 12,195 0 0 0 12,195 74 0 12,121
2009 11,586 0 0 0 11,586 71 0 11,515
2010 11,006 0 0 0 11,006 67 0 10,939
2011 10,456 0 0 0 10,456 64 0 10,392
2012 9,933 0 0 0 9,933 61 0 9,872
2013 9,437 0 0 0 9,437 57 0 9,380
2014 6,027 0 0 0 6,027 37 0 5,990
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 141,948 0 0 0 141,948 866 0 141,082
REMAIN 0 0 0 0 0 0 0 0
TOTAL 141,948 0 0 0 141,948 866 0 141,082
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 8,836 0 0 0 8,836 6,829 6,829 6,506
2004 8,835 0 0 0 8,835 6,046 12,875 5,215
2005 8,836 0 0 0 8,836 5,301 18,176 4,139
2006 8,835 0 0 0 8,835 4,595 22,771 3,248
2007 8,836 0 0 0 8,836 3,924 26,695 2,511
2008 8,836 0 0 0 8,836 3,285 29,980 1,904
2009 8,835 0 0 0 8,835 2,680 32,660 1,406
2010 8,836 0 0 0 8,836 2,103 34,763 999
2011 8,835 0 0 0 8,835 1,557 36,320 670
2012 8,836 0 0 0 8,836 1,036 37,356 404
2013 8,836 0 0 0 8,836 544 37,900 192
2014 5,890 0 0 0 5,890 100 38,000 33
2015 0 0 0 0 0 0 38,000 0
2016 0 0 0 0 0 0 38,000 0
2017 0 0 0 0 0 0 38,000 0
SUBTOT 103,082 0 0 0 103,082 38,000 27,227
REMAIN 0 0 0 0 0 0 38,000 0
TOTAL 103,082 0 0 0 103,082 38,000 27,227
LIFE OF EVALUATION IS 11.67 YEARS.
FINAL PRODUCTION RATE: 34 BBLS/MO
TENGASCO, INC. TABLE 162
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STREMEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T16S-R16W PROVED
OCHS #1 & 3 (MISSISSIPPIAN) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF (A) $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 24,527 0 182 (A) NET GAS VOLUMES ACCOUNT FOR SURFACE LOSSES,
ULTIMATE 24,527 0 182 SHRINKAGE FACTOR = 8.00 %
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 163
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STREMEL FIELD, RUSH COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 30-T16S-R16W PROVED
URBAN -D- LEASE (KSSC-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 16,939
FINAL - 1.000000 0.875000 27.29 10.00% - 15,804
REMARKS - 15.00% - 14,785
20.00% - 13,870
25.00% - 13,045
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 552 0 0 483 0 0.000 27.29 0.00
2004 2 464 0 0 406 0 0.000 27.29 0.00
2005 2 392 0 0 343 0 0.000 27.29 0.00
2006 2 309 0 0 270 0 0.000 27.29 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 1,717 0 0 1,502 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 1,717 0 0 1,502 0 0.000 27.29 0.00
CUMULATIVE 58,413 0 0
ULTIMATE 60,130 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 13,170 0 0 0 13,170 80 0 13,090
2004 11,100 0 0 0 11,100 68 0 11,032
2005 9,356 0 0 0 9,356 57 0 9,299
2006 7,374 0 0 0 7,374 45 0 7,329
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 41,000 0 0 0 41,000 250 0 40,750
REMAIN 0 0 0 0 0 0 0 0
TOTAL 41,000 0 0 0 41,000 250 0 40,750
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 5,736 0 0 0 5,736 7,354 7,354 7,017
2004 5,736 0 0 0 5,736 5,296 12,650 4,577
2005 5,736 0 0 0 5,736 3,563 16,213 2,789
2006 5,332 0 0 0 5,332 1,997 18,210 1,421
2007 0 0 0 0 0 0 18,210 0
2008 0 0 0 0 0 0 18,210 0
2009 0 0 0 0 0 0 18,210 0
2010 0 0 0 0 0 0 18,210 0
2011 0 0 0 0 0 0 18,210 0
2012 0 0 0 0 0 0 18,210 0
2013 0 0 0 0 0 0 18,210 0
2014 0 0 0 0 0 0 18,210 0
2015 0 0 0 0 0 0 18,210 0
2016 0 0 0 0 0 0 18,210 0
2017 0 0 0 0 0 0 18,210 0
SUBTOT 22,540 0 0 0 22,540 18,210 15,804
REMAIN 0 0 0 0 0 0 18,210 0
TOTAL 22,540 0 0 0 22,540 18,210 15,804
LIFE OF EVALUATION IS 3.93 YEARS.
FINAL PRODUCTION RATE: 26 BBLS/MO
TENGASCO, INC. TABLE 164
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
THACKER FIELD, RUSSELL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 29-T13S-R13W PROVED
THACKER #2 (KC-LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.847656 27.29 5.00% - 78,309
FINAL - 1.000000 0.847656 27.29 10.00% - 70,566
REMARKS - 15.00% - 64,031
20.00% - 58,471
25.00% - 53,707
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,611 0 0 1,366 0 0.000 27.29 0.00
2004 1 1,380 0 0 1,169 0 0.000 27.29 0.00
2005 1 1,181 0 0 1,001 0 0.000 27.29 0.00
2006 1 1,010 0 0 857 0 0.000 27.29 0.00
2007 1 866 0 0 733 0 0.000 27.29 0.00
2008 1 740 0 0 628 0 0.000 27.29 0.00
2009 1 634 0 0 537 0 0.000 27.29 0.00
2010 1 415 0 0 352 0 0.000 27.29 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 7,837 0 0 6,643 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 7,837 0 0 6,643 0 0.000 27.29 0.00
CUMULATIVE 24,304 0 0
ULTIMATE 32,141 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 37,277 0 0 0 37,277 227 0 37,050
2004 31,910 0 0 0 31,910 195 0 31,715
2005 27,315 0 0 0 27,315 167 0 27,148
2006 23,381 0 0 0 23,381 142 0 23,239
2007 20,014 0 0 0 20,014 122 0 19,892
2008 17,133 0 0 0 17,133 105 0 17,028
2009 14,665 0 0 0 14,665 89 0 14,576
2010 9,595 0 0 0 9,595 59 0 9,536
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 181,290 0 0 0 181,290 1,106 0 180,184
REMAIN 0 0 0 0 0 0 0 0
TOTAL 181,290 0 0 0 181,290 1,106 0 180,184
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,952 0 0 0 11,952 25,098 25,098 23,934
2004 11,952 0 0 0 11,952 19,763 44,861 17,063
2005 11,952 0 0 0 11,952 15,196 60,057 11,879
2006 11,952 0 0 0 11,952 11,287 71,344 7,989
2007 11,952 0 0 0 11,952 7,940 79,284 5,091
2008 11,952 0 0 0 11,952 5,076 84,360 2,949
2009 11,952 0 0 0 11,952 2,624 86,984 1,384
2010 8,964 0 0 0 8,964 572 87,556 277
2011 0 0 0 0 0 0 87,556 0
2012 0 0 0 0 0 0 87,556 0
2013 0 0 0 0 0 0 87,556 0
2014 0 0 0 0 0 0 87,556 0
2015 0 0 0 0 0 0 87,556 0
2016 0 0 0 0 0 0 87,556 0
2017 0 0 0 0 0 0 87,556 0
SUBTOT 92,628 0 0 0 92,628 87,556 70,566
REMAIN 0 0 0 0 0 0 87,556 0
TOTAL 92,628 0 0 0 92,628 87,556 70,566
LIFE OF EVALUATION IS 7.75 YEARS.
FINAL PRODUCTION RATE: 44 BBLS/MO
TENGASCO, INC. TABLE 165
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
TRAPP FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 16-T16S-R13W PROVED
DEUTSCH (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 188
FINAL - 1.000000 0.820313 27.29 10.00% - 185
REMARKS - 15.00% - 183
20.00% - 181
25.00% - 178
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 316 0 0 259 0 0.000 27.29 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 316 0 0 259 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 316 0 0 259 0 0.000 27.29 0.00
CUMULATIVE 17,270 0 0
ULTIMATE 17,586 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 7,073 0 0 0 7,073 43 0 7,030
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 7,073 0 0 0 7,073 43 0 7,030
REMAIN 0 0 0 0 0 0 0 0
TOTAL 7,073 0 0 0 7,073 43 0 7,030
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,840 0 0 0 6,840 190 190 185
2004 0 0 0 0 0 0 190 0
2005 0 0 0 0 0 0 190 0
2006 0 0 0 0 0 0 190 0
2007 0 0 0 0 0 0 190 0
2008 0 0 0 0 0 0 190 0
2009 0 0 0 0 0 0 190 0
2010 0 0 0 0 0 0 190 0
2011 0 0 0 0 0 0 190 0
2012 0 0 0 0 0 0 190 0
2013 0 0 0 0 0 0 190 0
2014 0 0 0 0 0 0 190 0
2015 0 0 0 0 0 0 190 0
2016 0 0 0 0 0 0 190 0
2017 0 0 0 0 0 0 190 0
SUBTOT 6,840 0 0 0 6,840 190 185
REMAIN 0 0 0 0 0 0 190 0
TOTAL 6,840 0 0 0 6,840 190 185
LIFE OF EVALUATION IS 0.75 YEARS.
FINAL PRODUCTION RATE: 34 BBLS/MO
TENGASCO, INC. TABLE 166
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
TRAPP FIELD, BARTON COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 8-T16S-R13W PROVED
HOWLIER #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.937000 0.768633 27.29 5.00% - 82,536
FINAL - 0.937000 0.768633 27.29 10.00% - 67,609
REMARKS - 15.00% - 56,797
20.00% - 48,731
25.00% - 42,550
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,129 0 0 868 0 0.000 27.29 0.00
2004 1 1,061 0 0 815 0 0.000 27.29 0.00
2005 1 997 0 0 767 0 0.000 27.29 0.00
2006 1 938 0 0 720 0 0.000 27.29 0.00
2007 1 881 0 0 678 0 0.000 27.29 0.00
2008 1 828 0 0 636 0 0.000 27.29 0.00
2009 1 779 0 0 599 0 0.000 27.29 0.00
2010 1 732 0 0 562 0 0.000 27.29 0.00
2011 1 688 0 0 529 0 0.000 27.29 0.00
2012 1 647 0 0 497 0 0.000 27.29 0.00
2013 1 608 0 0 468 0 0.000 27.29 0.00
2014 1 571 0 0 439 0 0.000 27.29 0.00
2015 1 537 0 0 413 0 0.000 27.29 0.00
2016 1 505 0 0 388 0 0.000 27.29 0.00
2017 1 475 0 0 365 0 0.000 27.29 0.00
SUB-TOTAL 11,376 0 0 8,744 0 0.000 27.29 0.00
REMAINDER 518 0 0 398 0 0.000 27.29 0.00
TOTAL 11,894 0 0 9,142 0 0.000 27.29 0.00
CUMULATIVE 18,731 0 0
ULTIMATE 30,625 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 23,676 0 0 0 23,676 144 0 23,532
2004 22,255 0 0 0 22,255 136 0 22,119
2005 20,921 0 0 0 20,921 128 0 20,793
2006 19,665 0 0 0 19,665 120 0 19,545
2007 18,485 0 0 0 18,485 113 0 18,372
2008 17,376 0 0 0 17,376 106 0 17,270
2009 16,333 0 0 0 16,333 99 0 16,234
2010 15,353 0 0 0 15,353 94 0 15,259
2011 14,432 0 0 0 14,432 88 0 14,344
2012 13,567 0 0 0 13,567 83 0 13,484
2013 12,752 0 0 0 12,752 77 0 12,675
2014 11,987 0 0 0 11,987 73 0 11,914
2015 11,268 0 0 0 11,268 69 0 11,199
2016 10,592 0 0 0 10,592 65 0 10,527
2017 9,956 0 0 0 9,956 61 0 9,895
SUB-TOT 238,618 0 0 0 238,618 1,456 0 237,162
REMAIN 10,863 0 0 0 10,863 66 0 10,797
TOTAL 249,481 0 0 0 249,481 1,522 0 247,959
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 8,916 0 0 0 8,916 14,616 14,616 13,923
2004 8,917 0 0 0 8,917 13,202 27,818 11,385
2005 8,916 0 0 0 8,916 11,877 39,695 9,271
2006 8,917 0 0 0 8,917 10,628 50,323 7,510
2007 8,916 0 0 0 8,916 9,456 59,779 6,050
2008 8,917 0 0 0 8,917 8,353 68,132 4,837
2009 8,916 0 0 0 8,916 7,318 75,450 3,836
2010 8,917 0 0 0 8,917 6,342 81,792 3,010
2011 8,916 0 0 0 8,916 5,428 87,220 2,333
2012 8,917 0 0 0 8,917 4,567 91,787 1,776
2013 8,916 0 0 0 8,916 3,759 95,546 1,324
2014 8,917 0 0 0 8,917 2,997 98,543 956
2015 8,916 0 0 0 8,916 2,283 100,826 659
2016 8,917 0 0 0 8,917 1,610 102,436 422
2017 8,916 0 0 0 8,916 979 103,415 232
SUBTOT 133,747 0 0 0 133,747 103,415 67,524
REMAIN 10,403 0 0 0 10,403 394 103,809 85
TOTAL 144,150 0 0 0 144,150 103,809 67,609
LIFE OF EVALUATION IS 16.17 YEARS.
FINAL PRODUCTION RATE: 36 BBLS/MO
TENGASCO, INC. TABLE 167
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WEBSTER FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R19W PROVED
CERROW-CERROW -A- #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 101,804
FINAL - 1.000000 0.875000 27.29 10.00% - 83,510
REMARKS - 15.00% - 70,290
20.00% - 60,435
25.00% - 52,879
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,048 0 0 917 0 0.000 27.29 0.00
2004 1 964 0 0 843 0 0.000 27.29 0.00
2005 1 886 0 0 776 0 0.000 27.29 0.00
2006 1 816 0 0 714 0 0.000 27.29 0.00
2007 1 751 0 0 657 0 0.000 27.29 0.00
2008 1 690 0 0 604 0 0.000 27.29 0.00
2009 1 636 0 0 556 0 0.000 27.29 0.00
2010 1 584 0 0 511 0 0.000 27.29 0.00
2011 1 538 0 0 471 0 0.000 27.29 0.00
2012 1 494 0 0 433 0 0.000 27.29 0.00
2013 1 456 0 0 398 0 0.000 27.29 0.00
2014 1 418 0 0 366 0 0.000 27.29 0.00
2015 1 386 0 0 337 0 0.000 27.29 0.00
2016 1 354 0 0 310 0 0.000 27.29 0.00
2017 1 326 0 0 286 0 0.000 27.29 0.00
SUB-TOTAL 9,347 0 0 8,179 0 0.000 27.29 0.00
REMAINDER 554 0 0 484 0 0.000 27.29 0.00
TOTAL 9,901 0 0 8,663 0 0.000 27.29 0.00
CUMULATIVE 73,529 0 0
ULTIMATE 83,430 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 25,018 0 0 0 25,018 153 0 24,865
2004 23,017 0 0 0 23,017 140 0 22,877
2005 21,175 0 0 0 21,175 129 0 21,046
2006 19,481 0 0 0 19,481 119 0 19,362
2007 17,923 0 0 0 17,923 109 0 17,814
2008 16,489 0 0 0 16,489 101 0 16,388
2009 15,170 0 0 0 15,170 92 0 15,078
2010 13,956 0 0 0 13,956 86 0 13,870
2011 12,840 0 0 0 12,840 78 0 12,762
2012 11,812 0 0 0 11,812 72 0 11,740
2013 10,868 0 0 0 10,868 66 0 10,802
2014 9,998 0 0 0 9,998 61 0 9,937
2015 9,198 0 0 0 9,198 56 0 9,142
2016 8,463 0 0 0 8,463 52 0 8,411
2017 7,785 0 0 0 7,785 47 0 7,738
SUB-TOT 223,193 0 0 0 223,193 1,361 0 221,832
REMAIN 13,224 0 0 0 13,224 81 0 13,143
TOTAL 236,417 0 0 0 236,417 1,442 0 234,975
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,324 0 0 0 6,324 18,541 18,541 17,664
2004 6,324 0 0 0 6,324 16,553 35,094 14,275
2005 6,324 0 0 0 6,324 14,722 49,816 11,494
2006 6,324 0 0 0 6,324 13,038 62,854 9,214
2007 6,324 0 0 0 6,324 11,490 74,344 7,351
2008 6,324 0 0 0 6,324 10,064 84,408 5,828
2009 6,324 0 0 0 6,324 8,754 93,162 4,590
2010 6,324 0 0 0 6,324 7,546 100,708 3,582
2011 6,324 0 0 0 6,324 6,438 107,146 2,766
2012 6,324 0 0 0 6,324 5,416 112,562 2,107
2013 6,324 0 0 0 6,324 4,478 117,040 1,577
2014 6,324 0 0 0 6,324 3,613 120,653 1,152
2015 6,324 0 0 0 6,324 2,818 123,471 814
2016 6,324 0 0 0 6,324 2,087 125,558 546
2017 6,324 0 0 0 6,324 1,414 126,972 335
SUBTOT 94,860 0 0 0 94,860 126,972 83,295
REMAIN 12,121 0 0 0 12,121 1,022 127,994 215
TOTAL 106,981 0 0 0 106,981 127,994 83,510
LIFE OF EVALUATION IS 16.92 YEARS.
FINAL PRODUCTION RATE: 22 BBLS/MO
TENGASCO, INC. TABLE 168
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WEBSTER FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R19W PROVED
LOWRY #1 (ARBUCKLE) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.847656 27.29 5.00% - 9,348
FINAL - 1.000000 0.847656 27.29 10.00% - 8,653
REMARKS - 15.00% - 8,038
20.00% - 7,492
25.00% - 7,006
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 567 0 0 481 0 0.000 27.29 0.00
2004 1 528 0 0 447 0 0.000 27.29 0.00
2005 1 490 0 0 416 0 0.000 27.29 0.00
2006 1 456 0 0 386 0 0.000 27.29 0.00
2007 1 425 0 0 360 0 0.000 27.29 0.00
2008 1 67 0 0 57 0 0.000 27.29 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 2,533 0 0 2,147 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 2,533 0 0 2,147 0 0.000 27.29 0.00
CUMULATIVE 20,014 0 0
ULTIMATE 22,547 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 13,120 0 0 0 13,120 80 0 13,040
2004 12,202 0 0 0 12,202 74 0 12,128
2005 11,347 0 0 0 11,347 70 0 11,277
2006 10,554 0 0 0 10,554 64 0 10,490
2007 9,814 0 0 0 9,814 60 0 9,754
2008 1,568 0 0 0 1,568 9 0 1,559
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 58,605 0 0 0 58,605 357 0 58,248
REMAIN 0 0 0 0 0 0 0 0
TOTAL 58,605 0 0 0 58,605 357 0 58,248
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,312 0 0 0 9,312 3,728 3,728 3,556
2004 9,312 0 0 0 9,312 2,816 6,544 2,432
2005 9,312 0 0 0 9,312 1,965 8,509 1,538
2006 9,312 0 0 0 9,312 1,178 9,687 836
2007 9,312 0 0 0 9,312 442 10,129 286
2008 1,552 0 0 0 1,552 7 10,136 5
2009 0 0 0 0 0 0 10,136 0
2010 0 0 0 0 0 0 10,136 0
2011 0 0 0 0 0 0 10,136 0
2012 0 0 0 0 0 0 10,136 0
2013 0 0 0 0 0 0 10,136 0
2014 0 0 0 0 0 0 10,136 0
2015 0 0 0 0 0 0 10,136 0
2016 0 0 0 0 0 0 10,136 0
2017 0 0 0 0 0 0 10,136 0
SUBTOT 48,112 0 0 0 48,112 10,136 8,653
REMAIN 0 0 0 0 0 0 10,136 0
TOTAL 48,112 0 0 0 48,112 10,136 8,653
LIFE OF EVALUATION IS 5.17 YEARS.
FINAL PRODUCTION RATE: 34 BBLS/MO
TENGASCO, INC. TABLE 169
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WERTH NORTH FIELD, ELLIS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 34-T12S-R20W PROVED
SCHNELLER LEASE (ABCK-LNSG) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.820313 27.29 5.00% - 169,184
FINAL - 1.000000 0.820313 27.29 10.00% - 134,363
REMARKS - 15.00% - 110,388
20.00% - 93,197
25.00% - 80,422
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 1,895 0 0 1,554 0 0.000 27.29 0.00
2004 3 1,800 0 0 1,477 0 0.000 27.29 0.00
2005 3 1,710 0 0 1,403 0 0.000 27.29 0.00
2006 3 1,625 0 0 1,333 0 0.000 27.29 0.00
2007 3 1,543 0 0 1,266 0 0.000 27.29 0.00
2008 3 1,467 0 0 1,203 0 0.000 27.29 0.00
2009 3 1,393 0 0 1,142 0 0.000 27.29 0.00
2010 3 1,323 0 0 1,086 0 0.000 27.29 0.00
2011 3 1,257 0 0 1,031 0 0.000 27.29 0.00
2012 3 1,194 0 0 980 0 0.000 27.29 0.00
2013 3 1,134 0 0 930 0 0.000 27.29 0.00
2014 3 1,078 0 0 884 0 0.000 27.29 0.00
2015 3 1,024 0 0 840 0 0.000 27.29 0.00
2016 3 973 0 0 798 0 0.000 27.29 0.00
2017 3 924 0 0 758 0 0.000 27.29 0.00
SUB-TOTAL 20,340 0 0 16,685 0 0.000 27.29 0.00
REMAINDER 3,558 0 0 2,919 0 0.000 27.29 0.00
TOTAL 23,898 0 0 19,604 0 0.000 27.29 0.00
CUMULATIVE 172,203 0 0
ULTIMATE 196,101 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 42,422 0 0 0 42,422 259 0 42,163
2004 40,300 0 0 0 40,300 246 0 40,054
2005 38,284 0 0 0 38,284 233 0 38,051
2006 36,370 0 0 0 36,370 222 0 36,148
2007 34,551 0 0 0 34,551 211 0 34,340
2008 32,824 0 0 0 32,824 200 0 32,624
2009 31,181 0 0 0 31,181 190 0 30,991
2010 29,623 0 0 0 29,623 181 0 29,442
2011 28,141 0 0 0 28,141 172 0 27,969
2012 26,733 0 0 0 26,733 163 0 26,570
2013 25,397 0 0 0 25,397 155 0 25,242
2014 24,127 0 0 0 24,127 147 0 23,980
2015 22,920 0 0 0 22,920 140 0 22,780
2016 21,773 0 0 0 21,773 132 0 21,641
2017 20,685 0 0 0 20,685 127 0 20,558
SUB-TOT 455,331 0 0 0 455,331 2,778 0 452,553
REMAIN 79,668 0 0 0 79,668 485 0 79,183
TOTAL 534,999 0 0 0 534,999 3,263 0 531,736
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 15,948 0 0 0 15,948 26,215 26,215 24,969
2004 15,948 0 0 0 15,948 24,106 50,321 20,784
2005 15,948 0 0 0 15,948 22,103 72,424 17,251
2006 15,948 0 0 0 15,948 20,200 92,624 14,272
2007 15,948 0 0 0 15,948 18,392 111,016 11,764
2008 15,948 0 0 0 15,948 16,676 127,692 9,655
2009 15,948 0 0 0 15,948 15,043 142,735 7,884
2010 15,948 0 0 0 15,948 13,494 156,229 6,403
2011 15,948 0 0 0 15,948 12,021 168,250 5,163
2012 15,948 0 0 0 15,948 10,622 178,872 4,130
2013 15,948 0 0 0 15,948 9,294 188,166 3,272
2014 15,948 0 0 0 15,948 8,032 196,198 2,559
2015 15,948 0 0 0 15,948 6,832 203,030 1,972
2016 15,948 0 0 0 15,948 5,693 208,723 1,487
2017 15,948 0 0 0 15,948 4,610 213,333 1,090
SUBTOT 239,220 0 0 0 239,220 213,333 132,655
REMAIN 70,437 0 0 0 70,437 8,746 222,079 1,708
TOTAL 309,657 0 0 0 309,657 222,079 134,363
LIFE OF EVALUATION IS 19.42 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 170
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WESTHUSIN FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T9S-R16W PROVED
DOUGHERTY EAST #1 (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.934400 0.766500 27.29 5.00% - 97,751
FINAL - 0.934400 0.766500 27.29 10.00% - 68,060
REMARKS - 15.00% - 51,644
20.00% - 41,475
25.00% - 34,623
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 686 0 0 525 0 0.000 27.29 0.00
2004 1 664 0 0 510 0 0.000 27.29 0.00
2005 1 645 0 0 495 0 0.000 27.29 0.00
2006 1 626 0 0 479 0 0.000 27.29 0.00
2007 1 607 0 0 465 0 0.000 27.29 0.00
2008 1 589 0 0 451 0 0.000 27.29 0.00
2009 1 571 0 0 438 0 0.000 27.29 0.00
2010 1 554 0 0 425 0 0.000 27.29 0.00
2011 1 537 0 0 411 0 0.000 27.29 0.00
2012 1 521 0 0 400 0 0.000 27.29 0.00
2013 1 505 0 0 387 0 0.000 27.29 0.00
2014 1 491 0 0 376 0 0.000 27.29 0.00
2015 1 475 0 0 365 0 0.000 27.29 0.00
2016 1 462 0 0 353 0 0.000 27.29 0.00
2017 1 447 0 0 343 0 0.000 27.29 0.00
SUB-TOTAL 8,380 0 0 6,423 0 0.000 27.29 0.00
REMAINDER 6,450 0 0 4,944 0 0.000 27.29 0.00
TOTAL 14,830 0 0 11,367 0 0.000 27.29 0.00
CUMULATIVE 44,009 0 0
ULTIMATE 58,839 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 14,339 0 0 0 14,339 87 0 14,252
2004 13,909 0 0 0 13,909 85 0 13,824
2005 13,492 0 0 0 13,492 83 0 13,409
2006 13,087 0 0 0 13,087 79 0 13,008
2007 12,695 0 0 0 12,695 78 0 12,617
2008 12,313 0 0 0 12,313 75 0 12,238
2009 11,945 0 0 0 11,945 73 0 11,872
2010 11,586 0 0 0 11,586 71 0 11,515
2011 11,238 0 0 0 11,238 68 0 11,170
2012 10,901 0 0 0 10,901 67 0 10,834
2013 10,574 0 0 0 10,574 64 0 10,510
2014 10,257 0 0 0 10,257 63 0 10,194
2015 9,949 0 0 0 9,949 60 0 9,889
2016 9,651 0 0 0 9,651 59 0 9,592
2017 9,361 0 0 0 9,361 57 0 9,304
SUB-TOT 175,297 0 0 0 175,297 1,069 0 174,228
REMAIN 134,914 0 0 0 134,914 823 0 134,091
TOTAL 310,211 0 0 0 310,211 1,892 0 308,319
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,317 0 0 0 4,317 9,935 9,935 9,460
2004 4,317 0 0 0 4,317 9,507 19,442 8,194
2005 4,317 0 0 0 4,317 9,092 28,534 7,094
2006 4,317 0 0 0 4,317 8,691 37,225 6,138
2007 4,317 0 0 0 4,317 8,300 45,525 5,306
2008 4,317 0 0 0 4,317 7,921 53,446 4,584
2009 4,316 0 0 0 4,316 7,556 61,002 3,959
2010 4,317 0 0 0 4,317 7,198 68,200 3,413
2011 4,317 0 0 0 4,317 6,853 75,053 2,942
2012 4,317 0 0 0 4,317 6,517 81,570 2,532
2013 4,317 0 0 0 4,317 6,193 87,763 2,179
2014 4,317 0 0 0 4,317 5,877 93,640 1,871
2015 4,317 0 0 0 4,317 5,572 99,212 1,606
2016 4,317 0 0 0 4,317 5,275 104,487 1,377
2017 4,317 0 0 0 4,317 4,987 109,474 1,178
SUBTOT 64,754 0 0 0 64,754 109,474 61,833
REMAIN 83,635 0 0 0 83,635 50,456 159,930 6,227
TOTAL 148,389 0 0 0 148,389 159,930 68,060
LIFE OF EVALUATION IS 34.37 YEARS.
FINAL PRODUCTION RATE: 20 BBLS/MO
TENGASCO, INC. TABLE 171
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WESTHUSIN FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T9S-R16W PROVED
DOUGHERTY EAST #1 BP (ARBUCKLE) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.934400 0.766500 27.29 5.00% - 34,749
FINAL - 0.934400 0.766500 27.29 10.00% - 21,895
REMARKS - OPERATING COSTS CARRIED WITH PROVED PRODUCING. 15.00% - 13,837
20.00% - 8,769
25.00% - 5,573
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 1 640 0 0 491 0 0.000 27.29 0.00
2011 1 960 0 0 735 0 0.000 27.29 0.00
2012 1 960 0 0 736 0 0.000 27.29 0.00
2013 1 640 0 0 491 0 0.000 27.29 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 3,200 0 0 2,453 0 0.000 27.29 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 3,200 0 0 2,453 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 3,200 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 13,387 0 0 0 13,387 82 0 13,305
2011 20,081 0 0 0 20,081 122 0 19,959
2012 20,082 0 0 0 20,082 123 0 19,959
2013 13,387 0 0 0 13,387 81 0 13,306
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 66,937 0 0 0 66,937 408 0 66,529
REMAIN 0 0 0 0 0 0 0 0
TOTAL 66,937 0 0 0 66,937 408 0 66,529
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 11,213 0 11,213 2,092 2,092 822
2011 0 0 0 0 0 19,959 22,051 8,564
2012 0 0 0 0 0 19,959 42,010 7,753
2013 0 0 0 0 0 13,306 55,316 4,756
2014 0 0 0 0 0 0 55,316 0
2015 0 0 0 0 0 0 55,316 0
2016 0 0 0 0 0 0 55,316 0
2017 0 0 0 0 0 0 55,316 0
SUBTOT 0 0 11,213 0 11,213 55,316 21,895
REMAIN 0 0 0 0 0 0 55,316 0
TOTAL 0 0 11,213 0 11,213 55,316 21,895
LIFE OF EVALUATION IS 10.67 YEARS.
FINAL PRODUCTION RATE: 80 BBLS/MO
TENGASCO, INC. TABLE 172
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
WESTHUSIN FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 18-T9S-R16W PROVED
DOUGHERTY EAST #2 PUD (ARBUCKLE) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.934400 0.766500 27.29 5.00% - 292,849
FINAL - 0.934400 0.766500 27.29 10.00% - 163,429
REMARKS - 15.00% - 99,406
20.00% - 63,520
25.00% - 41,514
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 2,533 0 0 1,941 0 0.000 27.29 0.00
2005 1 1,774 0 0 1,361 0 0.000 27.29 0.00
2006 1 1,725 0 0 1,321 0 0.000 27.29 0.00
2007 1 1,675 0 0 1,284 0 0.000 27.29 0.00
2008 1 1,628 0 0 1,248 0 0.000 27.29 0.00
2009 1 1,581 0 0 1,212 0 0.000 27.29 0.00
2010 1 1,537 0 0 1,178 0 0.000 27.29 0.00
2011 1 1,493 0 0 1,145 0 0.000 27.29 0.00
2012 1 1,451 0 0 1,112 0 0.000 27.29 0.00
2013 1 1,409 0 0 1,080 0 0.000 27.29 0.00
2014 1 1,370 0 0 1,050 0 0.000 27.29 0.00
2015 1 1,330 0 0 1,020 0 0.000 27.29 0.00
2016 1 1,293 0 0 990 0 0.000 27.29 0.00
2017 1 1,256 0 0 963 0 0.000 27.29 0.00
SUB-TOTAL 22,055 0 0 16,905 0 0.000 27.29 0.00
REMAINDER 17,975 0 0 13,778 0 0.000 27.29 0.00
TOTAL 40,030 0 0 30,683 0 0.000 27.29 0.00
CUMULATIVE 0 0 0
ULTIMATE 40,030 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 52,983 0 0 0 52,983 323 0 52,660
2005 37,119 0 0 0 37,119 227 0 36,892
2006 36,069 0 0 0 36,069 220 0 35,849
2007 35,044 0 0 0 35,044 213 0 34,831
2008 34,050 0 0 0 34,050 208 0 33,842
2009 33,082 0 0 0 33,082 202 0 32,880
2010 32,144 0 0 0 32,144 196 0 31,948
2011 31,231 0 0 0 31,231 191 0 31,040
2012 30,344 0 0 0 30,344 185 0 30,159
2013 29,483 0 0 0 29,483 179 0 29,304
2014 28,646 0 0 0 28,646 175 0 28,471
2015 27,833 0 0 0 27,833 170 0 27,663
2016 27,042 0 0 0 27,042 165 0 26,877
2017 26,275 0 0 0 26,275 160 0 26,115
SUB-TOT 461,345 0 0 0 461,345 2,814 0 458,531
REMAIN 375,994 0 0 0 375,994 2,294 0 373,700
TOTAL 837,339 0 0 0 837,339 5,108 0 832,231
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 2,158 0 93,440 0 95,598 -42,938 -42,938 -37,406
2005 4,317 0 0 0 4,317 32,575 -10,363 25,413
2006 4,317 0 0 0 4,317 31,532 21,169 22,267
2007 4,317 0 0 0 4,317 30,514 51,683 19,506
2008 4,317 0 0 0 4,317 29,525 81,208 17,085
2009 4,317 0 0 0 4,317 28,563 109,771 14,962
2010 4,317 0 0 0 4,317 27,631 137,402 13,102
2011 4,317 0 0 0 4,317 26,723 164,125 11,470
2012 4,317 0 0 0 4,317 25,842 189,967 10,040
2013 4,317 0 0 0 4,317 24,987 214,954 8,788
2014 4,317 0 0 0 4,317 24,154 239,108 7,690
2015 4,317 0 0 0 4,317 23,346 262,454 6,728
2016 4,317 0 0 0 4,317 22,560 285,014 5,885
2017 4,317 0 0 0 4,317 21,798 306,812 5,148
SUBTOT 58,279 0 93,440 0 151,719 306,812 130,678
REMAIN 81,167 0 0 0 81,167 292,533 599,345 32,751
TOTAL 139,446 0 93,440 0 232,886 599,345 163,429
LIFE OF EVALUATION IS 33.80 YEARS.
FINAL PRODUCTION RATE: 60 BBLS/MO
TENGASCO, INC. TABLE 173
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
YOHE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R18W PROVED
FINNESY LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 200,564
FINAL - 1.000000 0.875000 27.29 10.00% - 160,268
REMARKS - 15.00% - 132,398
20.00% - 112,312
25.00% - 97,309
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 3 1,817 0 0 1,590 0 0.000 27.29 0.00
2004 3 1,690 0 0 1,479 0 0.000 27.29 0.00
2005 3 1,572 0 0 1,375 0 0.000 27.29 0.00
2006 3 1,462 0 0 1,279 0 0.000 27.29 0.00
2007 3 1,359 0 0 1,190 0 0.000 27.29 0.00
2008 3 1,264 0 0 1,106 0 0.000 27.29 0.00
2009 3 1,176 0 0 1,029 0 0.000 27.29 0.00
2010 3 1,094 0 0 956 0 0.000 27.29 0.00
2011 3 1,017 0 0 890 0 0.000 27.29 0.00
2012 3 945 0 0 828 0 0.000 27.29 0.00
2013 3 880 0 0 769 0 0.000 27.29 0.00
2014 3 818 0 0 716 0 0.000 27.29 0.00
2015 3 760 0 0 666 0 0.000 27.29 0.00
2016 3 708 0 0 619 0 0.000 27.29 0.00
2017 3 658 0 0 575 0 0.000 27.29 0.00
SUB-TOTAL 17,220 0 0 15,067 0 0.000 27.29 0.00
REMAINDER 2,623 0 0 2,296 0 0.000 27.29 0.00
TOTAL 19,843 0 0 17,363 0 0.000 27.29 0.00
CUMULATIVE 93,686 0 0
ULTIMATE 113,529 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 43,394 0 0 0 43,394 265 0 43,129
2004 40,356 0 0 0 40,356 246 0 40,110
2005 37,532 0 0 0 37,532 229 0 37,303
2006 34,904 0 0 0 34,904 213 0 34,691
2007 32,461 0 0 0 32,461 198 0 32,263
2008 30,189 0 0 0 30,189 184 0 30,005
2009 28,075 0 0 0 28,075 171 0 27,904
2010 26,110 0 0 0 26,110 159 0 25,951
2011 24,283 0 0 0 24,283 149 0 24,134
2012 22,582 0 0 0 22,582 137 0 22,445
2013 21,002 0 0 0 21,002 128 0 20,874
2014 19,532 0 0 0 19,532 120 0 19,412
2015 18,165 0 0 0 18,165 110 0 18,055
2016 16,893 0 0 0 16,893 103 0 16,790
2017 15,710 0 0 0 15,710 96 0 15,614
SUB-TOT 411,188 0 0 0 411,188 2,508 0 408,680
REMAIN 62,637 0 0 0 62,637 382 0 62,255
TOTAL 473,825 0 0 0 473,825 2,890 0 470,935
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 10,512 0 0 0 10,512 32,617 32,617 31,070
2004 10,512 0 0 0 10,512 29,598 62,215 25,522
2005 10,512 0 0 0 10,512 26,791 89,006 20,913
2006 10,512 0 0 0 10,512 24,179 113,185 17,085
2007 10,512 0 0 0 10,512 21,751 134,936 13,913
2008 10,512 0 0 0 10,512 19,493 154,429 11,287
2009 10,512 0 0 0 10,512 17,392 171,821 9,116
2010 10,512 0 0 0 10,512 15,439 187,260 7,326
2011 10,512 0 0 0 10,512 13,622 200,882 5,852
2012 10,512 0 0 0 10,512 11,933 212,815 4,640
2013 10,512 0 0 0 10,512 10,362 223,177 3,648
2014 10,512 0 0 0 10,512 8,900 232,077 2,836
2015 10,512 0 0 0 10,512 7,543 239,620 2,176
2016 10,512 0 0 0 10,512 6,278 245,898 1,640
2017 10,512 0 0 0 10,512 5,102 251,000 1,207
SUBTOT 157,680 0 0 0 157,680 251,000 158,231
REMAIN 51,684 0 0 0 51,684 10,571 261,571 2,037
TOTAL 209,364 0 0 0 209,364 261,571 160,268
LIFE OF EVALUATION IS 19.92 YEARS.
FINAL PRODUCTION RATE: 37 BBLS/MO
TENGASCO, INC. TABLE 174
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
YOHE FIELD, ROOKS COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR 33-T8S-R18W PROVED
MOSHER LEASE (LANSING) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 27.29 5.00% - 430,724
FINAL - 1.000000 0.875000 27.29 10.00% - 306,143
REMARKS - 15.00% - 235,799
20.00% - 191,379
25.00% - 160,984
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 2 2,342 0 0 2,049 0 0.000 27.29 0.00
2004 2 2,229 0 0 1,951 0 0.000 27.29 0.00
2005 2 2,123 0 0 1,857 0 0.000 27.29 0.00
2006 2 2,021 0 0 1,768 0 0.000 27.29 0.00
2007 2 1,923 0 0 1,683 0 0.000 27.29 0.00
2008 2 1,831 0 0 1,603 0 0.000 27.29 0.00
2009 2 1,744 0 0 1,525 0 0.000 27.29 0.00
2010 2 1,660 0 0 1,453 0 0.000 27.29 0.00
2011 2 1,580 0 0 1,382 0 0.000 27.29 0.00
2012 2 1,504 0 0 1,316 0 0.000 27.29 0.00
2013 2 1,432 0 0 1,253 0 0.000 27.29 0.00
2014 2 1,363 0 0 1,193 0 0.000 27.29 0.00
2015 2 1,298 0 0 1,136 0 0.000 27.29 0.00
2016 2 1,235 0 0 1,081 0 0.000 27.29 0.00
2017 2 1,177 0 0 1,029 0 0.000 27.29 0.00
SUB-TOTAL 25,462 0 0 22,279 0 0.000 27.29 0.00
REMAINDER 15,803 0 0 13,828 0 0.000 27.29 0.00
TOTAL 41,265 0 0 36,107 0 0.000 27.29 0.00
CUMULATIVE 70,457 0 0
ULTIMATE 111,722 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 55,922 0 0 0 55,922 341 0 55,581
2004 53,238 0 0 0 53,238 325 0 52,913
2005 50,683 0 0 0 50,683 309 0 50,374
2006 48,250 0 0 0 48,250 294 0 47,956
2007 45,934 0 0 0 45,934 281 0 45,653
2008 43,729 0 0 0 43,729 266 0 43,463
2009 41,630 0 0 0 41,630 254 0 41,376
2010 39,632 0 0 0 39,632 242 0 39,390
2011 37,729 0 0 0 37,729 230 0 37,499
2012 35,918 0 0 0 35,918 219 0 35,699
2013 34,195 0 0 0 34,195 209 0 33,986
2014 32,553 0 0 0 32,553 198 0 32,355
2015 30,990 0 0 0 30,990 189 0 30,801
2016 29,503 0 0 0 29,503 180 0 29,323
2017 28,087 0 0 0 28,087 172 0 27,915
SUB-TOT 607,993 0 0 0 607,993 3,709 0 604,284
REMAIN 377,355 0 0 0 377,355 2,302 0 375,053
TOTAL 985,348 0 0 0 985,348 6,011 0 979,337
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,680 0 0 0 7,680 47,901 47,901 45,614
2004 7,680 0 0 0 7,680 45,233 93,134 38,992
2005 7,680 0 0 0 7,680 42,694 135,828 33,314
2006 7,680 0 0 0 7,680 40,276 176,104 28,448
2007 7,680 0 0 0 7,680 37,973 214,077 24,280
2008 7,680 0 0 0 7,680 35,783 249,860 20,711
2009 7,680 0 0 0 7,680 33,696 283,556 17,654
2010 7,680 0 0 0 7,680 31,710 315,266 15,039
2011 7,680 0 0 0 7,680 29,819 345,085 12,802
2012 7,680 0 0 0 7,680 28,019 373,104 10,889
2013 7,680 0 0 0 7,680 26,306 399,410 9,254
2014 7,680 0 0 0 7,680 24,675 424,085 7,858
2015 7,680 0 0 0 7,680 23,121 447,206 6,665
2016 7,680 0 0 0 7,680 21,643 468,849 5,647
2017 7,680 0 0 0 7,680 20,235 489,084 4,780
SUBTOT 115,200 0 0 0 115,200 489,084 281,947
REMAIN 176,640 0 0 0 176,640 198,413 687,497 24,196
TOTAL 291,840 0 0 0 291,840 687,497 306,143
LIFE OF EVALUATION IS 38.00 YEARS.
FINAL PRODUCTION RATE: 31 BBLS/MO
TENGASCO, INC. TABLE 175
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
ALL FIELDS, RUSH COUNTY, KANSAS GAS LEASE
TENGASCO, INC. - OPERATOR PROVED
OTIS COMPRESSOR STATION (ALL) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - -888,028
FINAL - 1.000000 10.00% - -506,804
REMARKS - 15.00% - -334,021
20.00% - -243,820
25.00% - -190,760
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 43,728 0 0 0 43,728 -43,728 -43,728 -41,621
2004 43,728 0 0 0 43,728 -43,728 -87,456 -37,676
2005 44,381 0 0 0 44,381 -44,381 -131,837 -34,605
2006 45,712 0 0 0 45,712 -45,712 -177,549 -32,265
2007 47,083 0 0 0 47,083 -47,083 -224,632 -30,083
2008 48,496 0 0 0 48,496 -48,496 -273,128 -28,048
2009 49,951 0 0 0 49,951 -49,951 -323,079 -26,151
2010 51,449 0 0 0 51,449 -51,449 -374,528 -24,383
2011 52,993 0 0 0 52,993 -52,993 -427,521 -22,734
2012 54,583 0 0 0 54,583 -54,583 -482,104 -21,196
2013 56,220 0 0 0 56,220 -56,220 -538,324 -19,763
2014 57,907 0 0 0 57,907 -57,907 -596,231 -18,426
2015 59,644 0 0 0 59,644 -59,644 -655,875 -17,180
2016 61,433 0 0 0 61,433 -61,433 -717,308 -16,018
2017 63,276 0 0 0 63,276 -63,276 -780,584 -14,934
SUBTOT 780,584 0 0 0 780,584 -780,584 -385,083
REMAIN 1,086,176 0 0 0 1,086,176 -1,086,176 -1,866,760 -121,721
TOTAL 1,866,760 0 0 0 1,866,760 -1,866,760 -506,804
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 176
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
VARIOUS FIELD, ALL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR PROVED
KANSAS FIXED COSTS 1PDP (ALL) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - -4,061,130
FINAL - 1.000000 10.00% - -2,736,220
REMARKS - 15.00% - -2,007,625
20.00% - -1,565,876
25.00% - -1,277,130
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 355,560 0 0 0 355,560 -355,560 -355,560 -338,428
2004 308,172 0 0 0 308,172 -308,172 -663,732 -265,520
2005 299,364 0 0 0 299,364 -299,364 -963,096 -233,482
2006 309,636 0 0 0 309,636 -309,636 -1,272,732 -218,603
2007 309,636 0 0 0 309,636 -309,636 -1,582,368 -197,883
2008 309,636 0 0 0 309,636 -309,636 -1,892,004 -179,125
2009 313,272 0 0 0 313,272 -313,272 -2,205,276 -164,051
2010 313,272 0 0 0 313,272 -313,272 -2,518,548 -148,501
2011 313,272 0 0 0 313,272 -313,272 -2,831,820 -134,424
2012 313,272 0 0 0 313,272 -313,272 -3,145,092 -121,683
2013 313,272 0 0 0 313,272 -313,272 -3,458,364 -110,149
2014 315,564 0 0 0 315,564 -315,564 -3,773,928 -100,438
2015 315,564 0 0 0 315,564 -315,564 -4,089,492 -90,917
2016 315,564 0 0 0 315,564 -315,564 -4,405,056 -82,300
2017 315,564 0 0 0 315,564 -315,564 -4,720,620 -74,498
SUBTOT 4,720,620 0 0 0 4,720,620 -4,720,620 -2,460,002
REMAIN 2,088,464 0 0 0 2,088,464 -2,088,464 -6,809,084 -276,218
TOTAL 6,809,084 0 0 0 6,809,084 -6,809,084 -2,736,220
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 177
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
VARIOUS FIELD, ALL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR PROVED
KANSAS FIXED COSTS 2PBP (ALL) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - -130,869
FINAL - 1.000000 10.00% - -103,599
REMARKS - 15.00% - -83,830
20.00% - -69,148
25.00% - -57,995
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,440 0 0 0 4,440 -4,440 -4,440 -4,226
2004 21,000 0 0 0 21,000 -21,000 -25,440 -18,094
2005 24,468 0 0 0 24,468 -24,468 -49,908 -19,083
2006 19,776 0 0 0 19,776 -19,776 -69,684 -13,962
2007 17,040 0 0 0 17,040 -17,040 -86,724 -10,890
2008 17,040 0 0 0 17,040 -17,040 -103,764 -9,857
2009 13,116 0 0 0 13,116 -13,116 -116,880 -6,869
2010 10,948 0 0 0 10,948 -10,948 -127,828 -5,189
2011 10,948 0 0 0 10,948 -10,948 -138,776 -4,698
2012 10,948 0 0 0 10,948 -10,948 -149,724 -4,253
2013 9,768 0 0 0 9,768 -9,768 -159,492 -3,434
2014 5,892 0 0 0 5,892 -5,892 -165,384 -1,876
2015 4,056 0 0 0 4,056 -4,056 -169,440 -1,168
2016 0 0 0 0 0 0 -169,440 0
2017 0 0 0 0 0 0 -169,440 0
SUBTOT 169,440 0 0 0 169,440 -169,440 -103,599
REMAIN 0 0 0 0 0 0 -169,440 0
TOTAL 169,440 0 0 0 169,440 -169,440 -103,599
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 178
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
VARIOUS FIELD, ALL COUNTY, KANSAS OIL LEASE
TENGASCO, INC. - OPERATOR PROVED
KANSAS FIXED COSTS 3PUD (ALL) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - -474,704
FINAL - 1.000000 10.00% - -283,607
REMARKS - 15.00% - -190,844
20.00% - -138,566
25.00% - -105,915
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 30,828 0 0 0 30,828 -30,828 -30,828 -26,561
2005 36,168 0 0 0 36,168 -36,168 -66,996 -28,209
2006 32,412 0 0 0 32,412 -32,412 -99,408 -22,883
2007 32,412 0 0 0 32,412 -32,412 -131,820 -20,713
2008 32,412 0 0 0 32,412 -32,412 -164,232 -18,751
2009 35,582 0 0 0 35,582 -35,582 -199,814 -18,633
2010 35,583 0 0 0 35,583 -35,583 -235,397 -16,868
2011 35,582 0 0 0 35,582 -35,582 -270,979 -15,268
2012 35,583 0 0 0 35,583 -35,583 -306,562 -13,821
2013 35,582 0 0 0 35,582 -35,582 -342,144 -12,511
2014 39,984 0 0 0 39,984 -39,984 -382,128 -12,726
2015 39,984 0 0 0 39,984 -39,984 -422,112 -11,520
2016 39,984 0 0 0 39,984 -39,984 -462,096 -10,428
2017 39,984 0 0 0 39,984 -39,984 -502,080 -9,439
SUBTOT 502,080 0 0 0 502,080 -502,080 -238,331
REMAIN 456,202 0 0 0 456,202 -456,202 -958,282 -45,276
TOTAL 958,282 0 0 0 958,282 -958,282 -283,607
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 179
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROVED
TENNESSEE PROPERTIES ALL CATEGORIES
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 49,866,999
FINAL - 10.00% - 36,230,728
REMARKS - 15.00% - 28,179,286
20.00% - 22,750,068
25.00% - 18,830,703
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 43 46,014 0 1,234 33,932 0 958.371 26.90 4.22
2004 64 32,586 0 2,620 24,265 0 2,002.464 26.90 4.22
2005 75 26,594 0 2,642 19,888 0 2,105.680 26.90 4.22
2006 83 15,982 0 2,752 12,422 0 2,216.311 26.90 4.22
2007 85 10,643 0 2,483 8,335 0 2,007.372 26.90 4.22
2008 82 6,904 0 1,959 5,380 0 1,568.839 26.90 4.22
2009 74 4,545 0 1,605 3,539 0 1,273.016 26.90 4.22
2010 69 3,238 0 1,303 2,682 0 1,022.548 26.90 4.22
2011 57 2,363 0 1,218 2,068 0 953.057 26.90 4.22
2012 48 1,934 0 943 1,692 0 734.624 26.90 4.22
2013 45 1,584 0 859 1,385 0 652.929 26.90 4.22
2014 43 1,299 0 759 1,138 0 584.687 26.90 4.22
2015 42 1,067 0 657 933 0 500.666 26.90 4.22
2016 35 618 0 512 541 0 387.053 26.90 4.22
2017 31 107 0 475 93 0 356.961 26.90 4.22
SUB-TOTAL 155,478 0 22,021 118,293 0 17,324.578 26.90 4.22
REMAINDER 70,978 0 8,339 49,139 0 6,173.998 26.90 4.22
TOTAL 226,456 0 30,360 167,432 0 23,498.576 26.90 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 912,715 0 4,044,326 0 4,957,041 27,383 121,331 4,808,327
2004 652,789 0 8,450,400 0 9,103,189 19,583 253,514 8,830,092
2005 534,957 0 8,885,969 0 9,420,926 16,048 266,573 9,138,305
2006 334,175 0 9,352,832 0 9,687,007 10,026 280,590 9,396,391
2007 224,215 0 8,471,106 0 8,695,321 6,727 254,129 8,434,465
2008 144,702 0 6,620,503 0 6,765,205 4,341 198,617 6,562,247
2009 95,208 0 5,372,124 0 5,467,332 2,856 161,159 5,303,317
2010 72,133 0 4,315,149 0 4,387,282 2,164 129,454 4,255,664
2011 55,629 0 4,021,897 0 4,077,526 1,668 120,658 3,955,200
2012 45,514 0 3,100,116 0 3,145,630 1,367 93,002 3,051,261
2013 37,283 0 2,755,360 0 2,792,643 1,118 82,664 2,708,861
2014 30,581 0 2,467,378 0 2,497,959 917 74,016 2,423,026
2015 25,114 0 2,112,808 0 2,137,922 754 63,392 2,073,776
2016 14,549 0 1,633,367 0 1,647,916 436 48,997 1,598,483
2017 2,510 0 1,506,371 0 1,508,881 76 45,190 1,463,615
SUB-TOT 3,182,074 0 73,109,706 0 76,291,780 95,464 2,193,286 74,003,030
REMAIN 1,321,831 0 26,054,275 0 27,376,106 39,655 781,629 26,554,822
TOTAL 4,503,905 0 99,163,981 0 103,667,886 135,119 2,974,915 100,557,852
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 231,868 0 1,685,000 0 1,916,868 2,891,459 2,891,459 2,716,576
2004 374,896 0 3,670,000 0 4,044,896 4,785,196 7,676,655 4,083,227
2005 459,868 0 2,425,000 0 2,884,868 6,253,437 13,930,092 4,876,498
2006 535,571 0 1,815,000 0 2,350,571 7,045,820 20,975,912 4,970,425
2007 573,419 0 625,000 0 1,198,419 7,236,046 28,211,958 4,621,640
2008 530,400 0 20,000 0 550,400 6,011,847 34,223,805 3,484,673
2009 480,340 0 0 0 480,340 4,822,977 39,046,782 2,530,438
2010 427,826 0 0 0 427,826 3,827,838 42,874,620 1,818,406
2011 362,346 0 30,000 0 392,346 3,562,854 46,437,474 1,529,361
2012 311,250 0 0 0 311,250 2,740,011 49,177,485 1,066,046
2013 297,766 0 10,000 0 307,766 2,401,095 51,578,580 845,112
2014 293,386 0 25,000 0 318,386 2,104,640 53,683,220 670,968
2015 270,139 0 0 0 270,139 1,803,637 55,486,857 520,772
2016 217,843 0 0 0 217,843 1,380,640 56,867,497 360,533
2017 200,400 0 20,000 0 220,400 1,243,215 58,110,712 293,620
SUBTOT 5,567,318 0 10,325,000 0 15,892,318 58,110,712 34,388,295
REMAIN 3,601,692 0 265,000 0 3,866,692 22,688,130 80,798,842 1,842,433
TOTAL 9,169,010 0 10,590,000 0 19,759,010 80,798,842 36,230,728
LIFE OF SUMMARY IS 50.00 YEARS.
TENGASCO, INC. TABLE 180
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 8,341,433
FINAL - 10.00% - 6,286,395
REMARKS - 15.00% - 5,099,074
20.00% - 4,321,003
25.00% - 3,767,390
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 25 9,490 0 477 7,819 0 353.110 26.90 4.22
2004 24 7,603 0 380 6,230 0 279.279 26.90 4.22
2005 24 6,097 0 322 4,969 0 235.868 26.90 4.22
2006 22 4,895 0 280 3,963 0 206.479 26.90 4.22
2007 21 3,935 0 253 3,164 0 185.899 26.90 4.22
2008 21 3,165 0 233 2,528 0 170.151 26.90 4.22
2009 21 2,550 0 215 2,021 0 157.447 26.90 4.22
2010 21 1,799 0 200 1,504 0 146.905 26.90 4.22
2011 20 1,298 0 187 1,136 0 136.370 26.90 4.22
2012 18 1,028 0 172 900 0 126.837 26.90 4.22
2013 18 815 0 166 712 0 119.954 26.90 4.22
2014 18 645 0 155 565 0 113.569 26.90 4.22
2015 17 511 0 147 447 0 106.251 26.90 4.22
2016 17 145 0 135 127 0 99.500 26.90 4.22
2017 15 0 0 126 0 0 94.142 0.00 4.22
SUB-TOTAL 43,976 0 3,448 36,085 0 2,531.761 26.90 4.22
REMAINDER 0 0 1,656 0 0 1,207.819 0.00 4.22
TOTAL 43,976 0 5,104 36,085 0 3,739.580 26.90 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 210,322 0 1,490,123 0 1,700,445 6,310 44,704 1,649,431
2004 167,605 0 1,178,559 0 1,346,164 5,028 35,358 1,305,778
2005 133,638 0 995,361 0 1,128,999 4,009 29,858 1,095,132
2006 106,617 0 871,344 0 977,961 3,198 26,141 948,622
2007 85,117 0 784,493 0 869,610 2,554 23,537 843,519
2008 68,000 0 718,036 0 786,036 2,040 21,542 762,454
2009 54,368 0 664,428 0 718,796 1,631 19,928 697,237
2010 40,457 0 619,936 0 660,393 1,214 18,601 640,578
2011 30,557 0 575,486 0 606,043 916 17,264 587,863
2012 24,203 0 535,252 0 559,455 727 16,057 542,671
2013 19,169 0 506,205 0 525,374 575 15,188 509,611
2014 15,184 0 479,259 0 494,443 455 14,376 479,612
2015 12,026 0 448,378 0 460,404 361 13,454 446,589
2016 3,425 0 419,893 0 423,318 103 12,594 410,621
2017 0 0 397,279 0 397,279 0 11,917 385,362
SUB-TOT 970,688 0 10,684,032 0 11,654,720 29,121 320,519 11,305,080
REMAIN 0 0 5,096,997 0 5,096,997 0 152,910 4,944,087
TOTAL 970,688 0 15,781,029 0 16,751,717 29,121 473,429 16,249,167
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 159,168 0 0 0 159,168 1,490,263 1,490,263 1,422,215
2004 157,896 0 0 0 157,896 1,147,882 2,638,145 990,744
2005 148,068 0 0 0 148,068 947,064 3,585,209 739,695
2006 141,168 0 0 0 141,168 807,454 4,392,663 570,754
2007 139,968 0 0 0 139,968 703,551 5,096,214 450,104
2008 139,968 0 0 0 139,968 622,486 5,718,700 360,453
2009 139,968 0 0 0 139,968 557,269 6,275,969 292,083
2010 136,921 0 0 0 136,921 503,657 6,779,626 238,938
2011 128,676 0 0 0 128,676 459,187 7,238,813 197,179
2012 121,200 0 0 0 121,200 421,471 7,660,284 163,823
2013 121,200 0 0 0 121,200 388,411 8,048,695 136,657
2014 120,600 0 0 0 120,600 359,012 8,407,707 114,340
2015 114,000 0 0 0 114,000 332,589 8,740,296 95,884
2016 101,600 0 0 0 101,600 309,021 9,049,317 80,638
2017 96,600 0 0 0 96,600 288,762 9,338,079 68,209
SUBTOT 1,967,001 0 0 0 1,967,001 9,338,079 5,921,716
REMAIN 1,620,038 0 0 0 1,620,038 3,324,049 12,662,128 364,679
TOTAL 3,587,039 0 0 0 3,587,039 12,662,128 6,286,395
LIFE OF SUMMARY IS 50.00 YEARS.
TENGASCO, INC. TABLE 181
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 1,461,339
FINAL - 10.00% - 1,241,527
REMARKS - 15.00% - 1,075,952
20.00% - 946,156
25.00% - 841,315
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 5 13,365 0 27 5,848 0 11.845 26.90 4.22
2004 8 12,060 0 156 6,729 0 78.727 26.90 4.22
2005 7 6,190 0 111 3,944 0 58.492 26.90 4.22
2006 7 3,465 0 79 2,566 0 43.680 26.90 4.22
2007 5 2,855 0 43 2,142 0 18.944 26.90 4.22
2008 4 2,387 0 37 1,803 0 16.395 26.90 4.22
2009 4 1,995 0 33 1,518 0 14.587 26.90 4.22
2010 4 1,439 0 31 1,178 0 13.208 26.90 4.22
2011 3 1,065 0 27 932 0 12.115 26.90 4.22
2012 3 906 0 26 792 0 11.112 26.90 4.22
2013 2 769 0 11 673 0 4.720 26.90 4.22
2014 2 654 0 10 573 0 4.436 26.90 4.22
2015 2 556 0 9 486 0 4.192 26.90 4.22
2016 2 473 0 9 414 0 3.977 26.90 4.22
2017 2 107 0 9 93 0 3.778 26.90 4.22
SUB-TOTAL 48,286 0 618 29,691 0 300.208 26.90 4.22
REMAINDER 0 0 47 0 0 20.538 0.00 4.22
TOTAL 48,286 0 665 29,691 0 320.746 26.90 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 157,280 0 49,984 0 207,264 4,719 1,500 201,045
2004 181,031 0 332,228 0 513,259 5,431 9,966 497,862
2005 106,102 0 246,837 0 352,939 3,183 7,406 342,350
2006 69,023 0 184,328 0 253,351 2,071 5,530 245,750
2007 57,620 0 79,946 0 137,566 1,729 2,398 133,439
2008 48,498 0 69,184 0 117,682 1,454 2,075 114,153
2009 40,840 0 61,559 0 102,399 1,225 1,847 99,327
2010 31,676 0 55,738 0 87,414 950 1,672 84,792
2011 25,072 0 51,125 0 76,197 752 1,534 73,911
2012 21,311 0 46,894 0 68,205 640 1,406 66,159
2013 18,114 0 19,917 0 38,031 543 598 36,890
2014 15,397 0 18,721 0 34,118 462 561 33,095
2015 13,088 0 17,689 0 30,777 393 531 29,853
2016 11,124 0 16,783 0 27,907 333 504 27,070
2017 2,510 0 15,945 0 18,455 76 478 17,901
SUB-TOT 798,686 0 1,266,878 0 2,065,564 23,961 38,006 2,003,597
REMAIN 0 0 86,671 0 86,671 0 2,600 84,071
TOTAL 798,686 0 1,353,549 0 2,152,235 23,961 40,606 2,087,668
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 11,800 0 0 0 11,800 189,245 189,245 176,680
2004 40,000 0 0 0 40,000 457,862 647,107 396,301
2005 37,200 0 0 0 37,200 305,150 952,257 238,573
2006 29,903 0 0 0 29,903 215,847 1,168,104 152,796
2007 21,620 0 0 0 21,620 111,819 1,279,923 71,581
2008 21,600 0 0 0 21,600 92,553 1,372,476 53,622
2009 21,600 0 0 0 21,600 77,727 1,450,203 40,761
2010 18,800 0 0 0 18,800 65,992 1,516,195 31,322
2011 16,800 0 0 0 16,800 57,111 1,573,306 24,533
2012 16,733 0 0 0 16,733 49,426 1,622,732 19,227
2013 13,200 0 0 0 13,200 23,690 1,646,422 8,341
2014 13,200 0 0 0 13,200 19,895 1,666,317 6,341
2015 13,200 0 0 0 13,200 16,653 1,682,970 4,806
2016 13,200 0 0 0 13,200 13,870 1,696,840 3,622
2017 6,000 0 0 0 6,000 11,901 1,708,741 2,812
SUBTOT 294,856 0 0 0 294,856 1,708,741 1,231,318
REMAIN 23,653 0 0 0 23,653 60,418 1,769,159 10,209
TOTAL 318,509 0 0 0 318,509 1,769,159 1,241,527
LIFE OF SUMMARY IS 21.57 YEARS.
TENGASCO, INC. TABLE 182
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 8,920,728
FINAL - 10.00% - 5,423,080
REMARKS - 15.00% - 3,932,641
20.00% - 3,098,640
25.00% - 2,561,817
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 4 23,159 0 144 20,265 0 101.825 26.90 4.22
2004 5 12,923 0 136 11,306 0 100.088 26.90 4.22
2005 5 14,307 0 113 10,975 0 80.857 26.90 4.22
2006 6 7,622 0 160 5,893 0 95.828 26.90 4.22
2007 8 3,853 0 241 3,029 0 169.376 26.90 4.22
2008 8 1,352 0 214 1,049 0 150.094 26.90 4.22
2009 6 0 0 200 0 0 144.308 0.00 4.22
2010 6 0 0 165 0 0 117.515 0.00 4.22
2011 6 0 0 325 0 0 255.853 0.00 4.22
2012 7 0 0 228 0 0 174.312 0.00 4.22
2013 7 0 0 218 0 0 149.126 0.00 4.22
2014 5 0 0 168 0 0 117.760 0.00 4.22
2015 6 0 0 139 0 0 97.997 0.00 4.22
2016 5 0 0 118 0 0 84.319 0.00 4.22
2017 5 0 0 113 0 0 82.103 0.00 4.22
SUB-TOTAL 63,216 0 2,682 52,517 0 1,921.361 26.90 4.22
REMAINDER 70,978 0 4,539 49,139 0 3,359.804 26.90 4.22
TOTAL 134,194 0 7,221 101,656 0 5,281.165 26.90 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 545,113 0 429,701 0 974,814 16,354 12,891 945,569
2004 304,153 0 422,372 0 726,525 9,124 12,672 704,729
2005 295,217 0 341,219 0 636,436 8,856 10,235 617,345
2006 158,535 0 404,395 0 562,930 4,757 12,133 546,040
2007 81,478 0 714,765 0 796,243 2,444 21,442 772,357
2008 28,204 0 633,396 0 661,600 847 19,004 641,749
2009 0 0 608,980 0 608,980 0 18,269 590,711
2010 0 0 495,914 0 495,914 0 14,877 481,037
2011 0 0 1,079,701 0 1,079,701 0 32,391 1,047,310
2012 0 0 735,597 0 735,597 0 22,067 713,530
2013 0 0 629,313 0 629,313 0 18,880 610,433
2014 0 0 496,946 0 496,946 0 14,908 482,038
2015 0 0 413,548 0 413,548 0 12,408 401,140
2016 0 0 355,826 0 355,826 0 10,674 345,152
2017 0 0 346,471 0 346,471 0 10,395 336,076
SUB-TOT 1,412,700 0 8,108,144 0 9,520,844 42,382 243,246 9,235,216
REMAIN 1,321,831 0 14,178,375 0 15,500,206 39,655 425,350 15,035,201
TOTAL 2,734,531 0 22,286,519 0 25,021,050 82,037 668,596 24,270,417
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 30,000 0 85,000 0 115,000 830,569 830,569 790,591
2004 37,200 0 20,000 0 57,200 647,529 1,478,098 559,135
2005 46,000 0 25,000 0 71,000 546,345 2,024,443 426,623
2006 52,500 0 15,000 0 67,500 478,540 2,502,983 337,920
2007 60,082 0 25,000 0 85,082 687,275 3,190,258 438,752
2008 44,297 0 20,000 0 64,297 577,452 3,767,710 334,068
2009 36,000 0 0 0 36,000 554,711 4,322,421 291,053
2010 36,000 0 0 0 36,000 445,037 4,767,458 211,317
2011 40,781 0 30,000 0 70,781 976,529 5,743,987 416,943
2012 37,006 0 0 0 37,006 676,524 6,420,511 263,674
2013 33,766 0 10,000 0 43,766 566,667 6,987,178 199,710
2014 33,000 0 25,000 0 58,000 424,038 7,411,216 135,532
2015 34,193 0 0 0 34,193 366,947 7,778,163 105,949
2016 32,400 0 0 0 32,400 312,752 8,090,915 81,649
2017 33,000 0 20,000 0 53,000 283,076 8,373,991 66,840
SUBTOT 586,225 0 275,000 0 861,225 8,373,991 4,659,756
REMAIN 1,247,965 0 265,000 0 1,512,965 13,522,236 21,896,227 763,324
TOTAL 1,834,190 0 540,000 0 2,374,190 21,896,227 5,423,080
LIFE OF SUMMARY IS 50.00 YEARS.
TENGASCO, INC. TABLE 183
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
PROVED
TENNESSEE PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 31,143,499
FINAL - 10.00% - 23,279,726
REMARKS - 15.00% - 18,071,619
20.00% - 14,384,269
25.00% - 11,660,181
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 9 0 0 586 0 0 491.592 0.00 4.22
2004 27 0 0 1,948 0 0 1,544.370 0.00 4.22
2005 39 0 0 2,096 0 0 1,730.463 0.00 4.22
2006 48 0 0 2,233 0 0 1,870.323 0.00 4.22
2007 51 0 0 1,946 0 0 1,633.153 0.00 4.22
2008 49 0 0 1,475 0 0 1,232.200 0.00 4.22
2009 43 0 0 1,157 0 0 956.673 0.00 4.22
2010 38 0 0 907 0 0 744.920 0.00 4.22
2011 28 0 0 679 0 0 548.718 0.00 4.22
2012 20 0 0 517 0 0 422.363 0.00 4.22
2013 18 0 0 464 0 0 379.129 0.00 4.22
2014 18 0 0 426 0 0 348.922 0.00 4.22
2015 17 0 0 362 0 0 292.226 0.00 4.22
2016 11 0 0 250 0 0 199.257 0.00 4.22
2017 9 0 0 227 0 0 176.938 0.00 4.22
SUB-TOTAL 0 0 15,273 0 0 12,571.247 0.00 4.22
REMAINDER 0 0 2,097 0 0 1,585.837 0.00 4.22
TOTAL 0 0 17,370 0 0 14,157.084 0.00 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 2,074,518 0 2,074,518 0 62,236 2,012,282
2004 0 0 6,517,241 0 6,517,241 0 195,518 6,321,723
2005 0 0 7,302,552 0 7,302,552 0 219,074 7,083,478
2006 0 0 7,892,765 0 7,892,765 0 236,786 7,655,979
2007 0 0 6,891,902 0 6,891,902 0 206,752 6,685,150
2008 0 0 5,199,887 0 5,199,887 0 155,996 5,043,891
2009 0 0 4,037,157 0 4,037,157 0 121,115 3,916,042
2010 0 0 3,143,561 0 3,143,561 0 94,304 3,049,257
2011 0 0 2,315,585 0 2,315,585 0 69,469 2,246,116
2012 0 0 1,782,373 0 1,782,373 0 53,472 1,728,901
2013 0 0 1,599,925 0 1,599,925 0 47,998 1,551,927
2014 0 0 1,472,452 0 1,472,452 0 44,171 1,428,281
2015 0 0 1,233,193 0 1,233,193 0 36,999 1,196,194
2016 0 0 840,865 0 840,865 0 25,225 815,640
2017 0 0 746,676 0 746,676 0 22,400 724,276
SUB-TOT 0 0 53,050,652 0 53,050,652 0 1,591,515 51,459,137
REMAIN 0 0 6,692,232 0 6,692,232 0 200,769 6,491,463
TOTAL 0 0 59,742,884 0 59,742,884 0 1,792,284 57,950,600
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 30,900 0 1,600,000 0 1,630,900 381,382 381,382 327,090
2004 139,800 0 3,650,000 0 3,789,800 2,531,923 2,913,305 2,137,047
2005 228,600 0 2,400,000 0 2,628,600 4,454,878 7,368,183 3,471,607
2006 312,000 0 1,800,000 0 2,112,000 5,543,979 12,912,162 3,908,955
2007 351,749 0 600,000 0 951,749 5,733,401 18,645,563 3,661,203
2008 324,535 0 0 0 324,535 4,719,356 23,364,919 2,736,530
2009 282,772 0 0 0 282,772 3,633,270 26,998,189 1,906,541
2010 236,105 0 0 0 236,105 2,813,152 29,811,341 1,336,829
2011 176,089 0 0 0 176,089 2,070,027 31,881,368 890,706
2012 136,311 0 0 0 136,311 1,592,590 33,473,958 619,322
2013 129,600 0 0 0 129,600 1,422,327 34,896,285 500,404
2014 126,586 0 0 0 126,586 1,301,695 36,197,980 414,755
2015 108,746 0 0 0 108,746 1,087,448 37,285,428 314,133
2016 70,643 0 0 0 70,643 744,997 38,030,425 194,624
2017 64,800 0 0 0 64,800 659,476 38,689,901 155,759
SUBTOT 2,719,236 0 10,050,000 0 12,769,236 38,689,901 22,575,505
REMAIN 710,036 0 0 0 710,036 5,781,427 44,471,328 704,221
TOTAL 3,429,272 0 10,050,000 0 13,479,272 44,471,328 23,279,726
LIFE OF SUMMARY IS 46.65 YEARS.
TENGASCO, INC. TABLE 184
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL PROBABLE
TENNESSEE PROPERTIES BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 45,647
FINAL - 10.00% - 32,968
REMARKS - 15.00% - 24,838
20.00% - 19,413
25.00% - 15,646
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 27 0 0 1.661 0.00 4.22
2005 1 0 0 22 0 0 1.375 0.00 4.22
2006 1 0 0 19 0 0 1.200 0.00 4.22
2007 1 0 0 17 0 0 1.078 0.00 4.22
2008 1 0 0 16 0 0 0.987 0.00 4.22
2009 1 0 0 14 0 0 0.916 0.00 4.22
2010 1 0 0 14 0 0 0.859 0.00 4.22
2011 1 0 0 13 0 0 0.802 0.00 4.22
2012 1 0 0 12 0 0 0.750 0.00 4.22
2013 1 0 0 11 0 0 0.712 0.00 4.22
2014 1 0 0 34 0 0 2.061 0.00 4.22
2015 1 0 0 28 0 0 1.782 0.00 4.22
2016 1 0 0 19 0 0 1.153 0.00 4.22
2017 1 0 0 13 0 0 0.810 0.00 4.22
SUB-TOTAL 0 0 259 0 0 16.146 0.00 4.22
REMAINDER 0 0 0 0 0 0.022 0.00 4.22
TOTAL 0 0 259 0 0 16.168 0.00 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 7,011 0 7,011 0 210 6,801
2005 0 0 5,802 0 5,802 0 174 5,628
2006 0 0 5,063 0 5,063 0 152 4,911
2007 0 0 4,549 0 4,549 0 137 4,412
2008 0 0 4,166 0 4,166 0 125 4,041
2009 0 0 3,867 0 3,867 0 116 3,751
2010 0 0 3,623 0 3,623 0 108 3,515
2011 0 0 3,385 0 3,385 0 102 3,283
2012 0 0 3,165 0 3,165 0 95 3,070
2013 0 0 3,007 0 3,007 0 90 2,917
2014 0 0 8,697 0 8,697 0 261 8,436
2015 0 0 7,520 0 7,520 0 226 7,294
2016 0 0 4,867 0 4,867 0 146 4,721
2017 0 0 3,419 0 3,419 0 102 3,317
SUB-TOT 0 0 68,141 0 68,141 0 2,044 66,097
REMAIN 0 0 91 0 91 0 3 88
TOTAL 0 0 68,232 0 68,232 0 2,047 66,185
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 6,801 6,801 5,871
2005 0 0 0 0 0 5,628 12,429 4,395
2006 0 0 0 0 0 4,911 17,340 3,470
2007 0 0 0 0 0 4,412 21,752 2,822
2008 0 0 0 0 0 4,041 25,793 2,339
2009 0 0 0 0 0 3,751 29,544 1,966
2010 0 0 0 0 0 3,515 33,059 1,667
2011 0 0 0 0 0 3,283 36,342 1,410
2012 0 0 0 0 0 3,070 39,412 1,193
2013 0 0 0 0 0 2,917 42,329 1,026
2014 0 0 0 0 0 8,436 50,765 2,659
2015 0 0 0 0 0 7,294 58,059 2,110
2016 0 0 0 0 0 4,721 62,780 1,235
2017 0 0 0 0 0 3,317 66,097 785
SUBTOT 0 0 0 0 0 66,097 32,948
REMAIN 0 0 0 0 0 88 66,185 20
TOTAL 0 0 0 0 0 66,185 32,968
LIFE OF SUMMARY IS 15.03 YEARS.
TENGASCO, INC. TABLE 185
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
STATE SUMMARY
TOTAL POSSIBLE
TENNESSEE PROPERTIES UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 5.00% - 4,284,225
FINAL - 10.00% - 3,185,002
REMARKS - 15.00% - 2,378,901
20.00% - 1,783,727
25.00% - 1,341,618
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 4 0 0 106 0 0 93.393 0.00 4.22
2006 14 0 0 715 0 0 623.939 0.00 4.22
2007 14 0 0 576 0 0 503.808 0.00 4.22
2008 14 0 0 409 0 0 360.038 0.00 4.22
2009 14 0 0 310 0 0 272.546 0.00 4.22
2010 12 0 0 211 0 0 181.732 0.00 4.22
2011 8 0 0 109 0 0 94.770 0.00 4.22
2012 4 0 0 64 0 0 56.899 0.00 4.22
2013 3 0 0 30 0 0 26.400 0.00 4.22
2014 1 0 0 16 0 0 14.226 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 2,546 0 0 2,227.751 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 2,546 0 0 2,227.751 0.00 4.22
CUMULATIVE
ULTIMATE
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 394,118 0 394,118 0 11,824 382,294
2006 0 0 2,633,019 0 2,633,019 0 78,990 2,554,029
2007 0 0 2,126,073 0 2,126,073 0 63,783 2,062,290
2008 0 0 1,519,360 0 1,519,360 0 45,582 1,473,778
2009 0 0 1,150,142 0 1,150,142 0 34,503 1,115,639
2010 0 0 766,907 0 766,907 0 23,004 743,903
2011 0 0 399,927 0 399,927 0 11,998 387,929
2012 0 0 240,113 0 240,113 0 7,203 232,910
2013 0 0 111,408 0 111,408 0 3,343 108,065
2014 0 0 60,033 0 60,033 0 1,801 58,232
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 9,401,100 0 9,401,100 0 282,031 9,119,069
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 9,401,100 0 9,401,100 0 282,031 9,119,069
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 9,000 0 800,000 0 809,000 -426,706 -426,706 -327,786
2006 75,000 0 2,000,000 0 2,075,000 479,029 52,323 315,056
2007 100,800 0 0 0 100,800 1,961,490 2,013,813 1,258,271
2008 100,800 0 0 0 100,800 1,372,978 3,386,791 796,076
2009 92,682 0 0 0 92,682 1,022,957 4,409,748 537,271
2010 68,580 0 0 0 68,580 675,323 5,085,071 321,748
2011 36,976 0 0 0 36,976 350,953 5,436,024 151,535
2012 23,269 0 0 0 23,269 209,641 5,645,665 81,700
2013 11,184 0 0 0 11,184 96,881 5,742,546 34,489
2014 6,291 0 0 0 6,291 51,941 5,794,487 16,642
2015 0 0 0 0 0 0 5,794,487 0
2016 0 0 0 0 0 0 5,794,487 0
2017 0 0 0 0 0 0 5,794,487 0
SUBTOT 524,582 0 2,800,000 0 3,324,582 5,794,487 3,185,002
REMAIN 0 0 0 0 0 0 5,794,487 0
TOTAL 524,582 0 2,800,000 0 3,324,582 5,794,487 3,185,002
LIFE OF SUMMARY IS 11.87 YEARS.
TENGASCO, INC. TABLE 186
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #1 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 9
ULTIMATE 0 0 9
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 187
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #1 BP (TRENTON) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 0.875000 26.90 4.22 5.00% - 378,741
FINAL - 1.000000 0.875000 0.875000 26.90 4.22 10.00% - 357,571
REMARKS - 15.00% - 338,381
20.00% - 320,929
25.00% - 305,010
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 7,927 0 17 6,937 0 15.233 26.90 4.22
2004 1 4,002 0 9 3,501 0 7.689 26.90 4.22
2005 1 2,019 0 5 1,767 0 3.881 26.90 4.22
2006 1 1,020 0 2 892 0 1.959 26.90 4.22
2007 1 495 0 1 433 0 0.951 26.90 4.22
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 15,463 0 34 13,530 0 29.713 26.90 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 15,463 0 34 13,530 0 29.713 26.90 4.22
CUMULATIVE 0 0 0
ULTIMATE 15,463 0 34
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 186,594 0 64,282 0 250,876 5,598 1,928 243,350
2004 94,181 0 32,446 0 126,627 2,825 974 122,828
2005 47,537 0 16,376 0 63,913 1,426 491 61,996
2006 23,994 0 8,266 0 32,260 720 248 31,292
2007 11,646 0 4,012 0 15,658 350 120 15,188
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 363,952 0 125,382 0 489,334 10,919 3,761 474,654
REMAIN 0 0 0 0 0 0 0 0
TOTAL 363,952 0 125,382 0 489,334 10,919 3,761 474,654
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,600 0 25,000 0 34,600 208,750 208,750 198,887
2004 9,600 0 0 0 9,600 113,228 321,978 98,149
2005 9,600 0 0 0 9,600 52,396 374,374 41,136
2006 9,600 0 0 0 9,600 21,692 396,066 15,438
2007 9,082 0 0 0 9,082 6,106 402,172 3,961
2008 0 0 0 0 0 0 402,172 0
2009 0 0 0 0 0 0 402,172 0
2010 0 0 0 0 0 0 402,172 0
2011 0 0 0 0 0 0 402,172 0
2012 0 0 0 0 0 0 402,172 0
2013 0 0 0 0 0 0 402,172 0
2014 0 0 0 0 0 0 402,172 0
2015 0 0 0 0 0 0 402,172 0
2016 0 0 0 0 0 0 402,172 0
2017 0 0 0 0 0 0 402,172 0
SUBTOT 47,482 0 25,000 0 72,482 402,172 357,571
REMAIN 0 0 0 0 0 0 402,172 0
TOTAL 47,482 0 25,000 0 72,482 402,172 357,571
LIFE OF EVALUATION IS 4.95 YEARS.
FINAL PRODUCTION RATE: 31 BBLS/MO
TENGASCO, INC. TABLE 188
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
ANITA COLSON #2 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 404,702
FINAL - 1.000000 0.875000 4.22 10.00% - 323,487
REMARKS - 15.00% - 272,476
20.00% - 237,412
25.00% - 211,660
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 30 0 0 26.645 0.00 4.22
2004 1 0 0 20 0 0 17.214 0.00 4.22
2005 1 0 0 15 0 0 13.305 0.00 4.22
2006 1 0 0 13 0 0 11.063 0.00 4.22
2007 1 0 0 11 0 0 9.579 0.00 4.22
2008 1 0 0 10 0 0 8.510 0.00 4.22
2009 1 0 0 8 0 0 7.697 0.00 4.22
2010 1 0 0 9 0 0 7.054 0.00 4.22
2011 1 0 0 7 0 0 6.531 0.00 4.22
2012 1 0 0 7 0 0 6.095 0.00 4.22
2013 1 0 0 6 0 0 5.726 0.00 4.22
2014 1 0 0 7 0 0 5.407 0.00 4.22
2015 1 0 0 6 0 0 5.129 0.00 4.22
2016 1 0 0 5 0 0 4.872 0.00 4.22
2017 1 0 0 5 0 0 4.629 0.00 4.22
SUB-TOTAL 0 0 159 0 0 139.456 0.00 4.22
REMAINDER 0 0 62 0 0 53.603 0.00 4.22
TOTAL 0 0 221 0 0 193.059 0.00 4.22
CUMULATIVE 0 0 59
ULTIMATE 0 0 280
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 112,441 0 112,441 0 3,373 109,068
2004 0 0 72,645 0 72,645 0 2,180 70,465
2005 0 0 56,149 0 56,149 0 1,684 54,465
2006 0 0 46,688 0 46,688 0 1,401 45,287
2007 0 0 40,422 0 40,422 0 1,212 39,210
2008 0 0 35,912 0 35,912 0 1,078 34,834
2009 0 0 32,483 0 32,483 0 974 31,509
2010 0 0 29,769 0 29,769 0 893 28,876
2011 0 0 27,562 0 27,562 0 827 26,735
2012 0 0 25,722 0 25,722 0 772 24,950
2013 0 0 24,161 0 24,161 0 725 23,436
2014 0 0 22,819 0 22,819 0 684 22,135
2015 0 0 21,643 0 21,643 0 649 20,994
2016 0 0 20,561 0 20,561 0 617 19,944
2017 0 0 19,533 0 19,533 0 586 18,947
SUB-TOT 0 0 588,510 0 588,510 0 17,655 570,855
REMAIN 0 0 226,207 0 226,207 0 6,786 219,421
TOTAL 0 0 814,717 0 814,717 0 24,441 790,276
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 101,868 101,868 97,471
2004 7,200 0 0 0 7,200 63,265 165,133 54,665
2005 7,200 0 0 0 7,200 47,265 212,398 36,937
2006 7,200 0 0 0 7,200 38,087 250,485 26,932
2007 7,200 0 0 0 7,200 32,010 282,495 20,484
2008 7,200 0 0 0 7,200 27,634 310,129 16,004
2009 7,200 0 0 0 7,200 24,309 334,438 12,743
2010 7,200 0 0 0 7,200 21,676 356,114 10,284
2011 7,200 0 0 0 7,200 19,535 375,649 8,389
2012 7,200 0 0 0 7,200 17,750 393,399 6,900
2013 7,200 0 0 0 7,200 16,236 409,635 5,713
2014 7,200 0 0 0 7,200 14,935 424,570 4,756
2015 7,200 0 0 0 7,200 13,794 438,364 3,977
2016 7,200 0 0 0 7,200 12,744 451,108 3,326
2017 7,200 0 0 0 7,200 11,747 462,855 2,775
SUBTOT 108,000 0 0 0 108,000 462,855 311,356
REMAIN 132,000 0 0 0 132,000 87,421 550,276 12,131
TOTAL 240,000 0 0 0 240,000 550,276 323,487
LIFE OF EVALUATION IS 33.33 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 189
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
BOBBY YEARY #1 (REEDSVILLE-TRENTON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 6
ULTIMATE 0 0 6
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 190
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
BOBBY YEARY #1BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO RESERVES ASSIGNED. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 191
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
BOBBY YEARY #2 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 26.90 5.00% - 50,811
FINAL - 0.500000 0.437500 26.90 10.00% - 46,185
REMARKS - 15.00% - 42,237
20.00% - 38,844
25.00% - 35,907
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,990 0 0 871 0 0.000 26.90 0.00
2004 1 1,592 0 0 696 0 0.000 26.90 0.00
2005 1 1,273 0 0 557 0 0.000 26.90 0.00
2006 1 1,019 0 0 446 0 0.000 26.90 0.00
2007 1 815 0 0 356 0 0.000 26.90 0.00
2008 1 652 0 0 286 0 0.000 26.90 0.00
2009 1 521 0 0 228 0 0.000 26.90 0.00
2010 1 186 0 0 81 0 0.000 26.90 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 8,048 0 0 3,521 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 8,048 0 0 3,521 0 0.000 26.90 0.00
CUMULATIVE 2,217 0 0
ULTIMATE 10,265 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 23,417 0 0 0 23,417 703 0 22,714
2004 18,733 0 0 0 18,733 562 0 18,171
2005 14,987 0 0 0 14,987 449 0 14,538
2006 11,990 0 0 0 11,990 360 0 11,630
2007 9,591 0 0 0 9,591 288 0 9,303
2008 7,673 0 0 0 7,673 230 0 7,443
2009 6,139 0 0 0 6,139 184 0 5,955
2010 2,180 0 0 0 2,180 65 0 2,115
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 94,710 0 0 0 94,710 2,841 0 91,869
REMAIN 0 0 0 0 0 0 0 0
TOTAL 94,710 0 0 0 94,710 2,841 0 91,869
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,800 0 0 0 4,800 17,914 17,914 17,091
2004 4,800 0 0 0 4,800 13,371 31,285 11,549
2005 4,800 0 0 0 4,800 9,738 41,023 7,616
2006 4,800 0 0 0 4,800 6,830 47,853 4,837
2007 4,800 0 0 0 4,800 4,503 52,356 2,888
2008 4,800 0 0 0 4,800 2,643 54,999 1,537
2009 4,800 0 0 0 4,800 1,155 56,154 611
2010 2,000 0 0 0 2,000 115 56,269 56
2011 0 0 0 0 0 0 56,269 0
2012 0 0 0 0 0 0 56,269 0
2013 0 0 0 0 0 0 56,269 0
2014 0 0 0 0 0 0 56,269 0
2015 0 0 0 0 0 0 56,269 0
2016 0 0 0 0 0 0 56,269 0
2017 0 0 0 0 0 0 56,269 0
SUBTOT 35,600 0 0 0 35,600 56,269 46,185
REMAIN 0 0 0 0 0 0 56,269 0
TOTAL 35,600 0 0 0 35,600 56,269 46,185
LIFE OF EVALUATION IS 7.42 YEARS.
FINAL PRODUCTION RATE: 36 BBLS/MO
TENGASCO, INC. TABLE 192
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
BOBBY YEARY #3 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 535 0 0
ULTIMATE 535 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 193
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
CHERYL SMITH #1 (TRENTON) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 26.90 5.00% - 51,548
FINAL - 0.500000 0.437500 26.90 10.00% - 49,701
REMARKS - 15.00% - 47,931
20.00% - 46,236
25.00% - 44,612
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 4,333 0 0 1,896 0 0.000 26.90 0.00
2004 1 807 0 0 353 0 0.000 26.90 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 5,140 0 0 2,249 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 5,140 0 0 2,249 0 0.000 26.90 0.00
CUMULATIVE 0 0 0
ULTIMATE 5,140 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 50,992 0 0 0 50,992 1,530 0 49,462
2004 9,501 0 0 0 9,501 285 0 9,216
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 60,493 0 0 0 60,493 1,815 0 58,678
REMAIN 0 0 0 0 0 0 0 0
TOTAL 60,493 0 0 0 60,493 1,815 0 58,678
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,400 0 0 0 2,400 47,062 47,062 43,985
2004 2,800 0 0 0 2,800 6,416 53,478 5,716
2005 0 0 0 0 0 0 53,478 0
2006 0 0 0 0 0 0 53,478 0
2007 0 0 0 0 0 0 53,478 0
2008 0 0 0 0 0 0 53,478 0
2009 0 0 0 0 0 0 53,478 0
2010 0 0 0 0 0 0 53,478 0
2011 0 0 0 0 0 0 53,478 0
2012 0 0 0 0 0 0 53,478 0
2013 0 0 0 0 0 0 53,478 0
2014 0 0 0 0 0 0 53,478 0
2015 0 0 0 0 0 0 53,478 0
2016 0 0 0 0 0 0 53,478 0
2017 0 0 0 0 0 0 53,478 0
SUBTOT 5,200 0 0 0 5,200 53,478 49,701
REMAIN 0 0 0 0 0 0 53,478 0
TOTAL 5,200 0 0 0 5,200 53,478 49,701
LIFE OF EVALUATION IS 1.58 YEARS.
FINAL PRODUCTION RATE: 41 BBLS/MO
TENGASCO, INC. TABLE 194
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
CHERYL SMITH #2 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 665,144
FINAL - 1.000000 0.875000 4.22 10.00% - 532,049
REMARKS - 15.00% - 434,567
20.00% - 361,133
25.00% - 304,344
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 66 0 0 57.789 0.00 4.22
2004 1 0 0 46 0 0 40.643 0.00 4.22
2005 1 0 0 35 0 0 29.757 0.00 4.22
2006 1 0 0 27 0 0 24.118 0.00 4.22
2007 1 0 0 24 0 0 20.570 0.00 4.22
2008 1 0 0 20 0 0 18.096 0.00 4.22
2009 1 0 0 19 0 0 16.253 0.00 4.22
2010 1 0 0 17 0 0 14.818 0.00 4.22
2011 1 0 0 15 0 0 13.663 0.00 4.22
2012 1 0 0 15 0 0 12.710 0.00 4.22
2013 1 0 0 14 0 0 11.907 0.00 4.22
2014 1 0 0 12 0 0 11.221 0.00 4.22
2015 1 0 0 9 0 0 7.581 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 319 0 0 279.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 319 0 0 279.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 319
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 243,868 0 243,868 0 7,316 236,552
2004 0 0 171,514 0 171,514 0 5,145 166,369
2005 0 0 125,574 0 125,574 0 3,768 121,806
2006 0 0 101,778 0 101,778 0 3,053 98,725
2007 0 0 86,807 0 86,807 0 2,604 84,203
2008 0 0 76,363 0 76,363 0 2,291 74,072
2009 0 0 68,587 0 68,587 0 2,058 66,529
2010 0 0 62,532 0 62,532 0 1,876 60,656
2011 0 0 57,658 0 57,658 0 1,729 55,929
2012 0 0 53,636 0 53,636 0 1,610 52,026
2013 0 0 50,249 0 50,249 0 1,507 48,742
2014 0 0 47,352 0 47,352 0 1,421 45,931
2015 0 0 31,989 0 31,989 0 959 31,030
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,177,907 0 1,177,907 0 35,337 1,142,570
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,177,907 0 1,177,907 0 35,337 1,142,570
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,000 0 200,000 0 206,000 30,552 30,552 22,816
2004 7,200 0 0 0 7,200 159,169 189,721 137,602
2005 7,200 0 0 0 7,200 114,606 304,327 89,576
2006 7,200 0 0 0 7,200 91,525 395,852 64,720
2007 7,200 0 0 0 7,200 77,003 472,855 49,273
2008 7,200 0 0 0 7,200 66,872 539,727 38,727
2009 7,200 0 0 0 7,200 59,329 599,056 31,097
2010 7,200 0 0 0 7,200 53,456 652,512 25,360
2011 7,200 0 0 0 7,200 48,729 701,241 20,925
2012 7,200 0 0 0 7,200 44,826 746,067 17,423
2013 7,200 0 0 0 7,200 41,542 787,609 14,615
2014 7,200 0 0 0 7,200 38,731 826,340 12,334
2015 5,098 0 0 0 5,098 25,932 852,272 7,581
2016 0 0 0 0 0 0 852,272 0
2017 0 0 0 0 0 0 852,272 0
SUBTOT 90,298 0 200,000 0 290,298 852,272 532,049
REMAIN 0 0 0 0 0 0 852,272 0
TOTAL 90,298 0 200,000 0 290,298 852,272 532,049
LIFE OF EVALUATION IS 12.71 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 195
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
CHEVRON REED #1 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 1
ULTIMATE 0 0 1
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 196
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.678444 4.22 5.00% - 579,608
FINAL - 1.000000 0.678444 4.22 10.00% - 424,107
REMARKS - 15.00% - 335,941
20.00% - 279,592
25.00% - 240,445
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 34 0 0 23.388 0.00 4.22
2004 1 0 0 29 0 0 19.016 0.00 4.22
2005 1 0 0 24 0 0 16.462 0.00 4.22
2006 1 0 0 21 0 0 14.732 0.00 4.22
2007 1 0 0 20 0 0 13.459 0.00 4.22
2008 1 0 0 19 0 0 12.472 0.00 4.22
2009 1 0 0 17 0 0 11.676 0.00 4.22
2010 1 0 0 16 0 0 11.018 0.00 4.22
2011 1 0 0 16 0 0 10.454 0.00 4.22
2012 1 0 0 14 0 0 9.931 0.00 4.22
2013 1 0 0 14 0 0 9.435 0.00 4.22
2014 1 0 0 13 0 0 8.963 0.00 4.22
2015 1 0 0 13 0 0 8.515 0.00 4.22
2016 1 0 0 12 0 0 8.089 0.00 4.22
2017 1 0 0 11 0 0 7.685 0.00 4.22
SUB-TOTAL 0 0 273 0 0 185.295 0.00 4.22
REMAINDER 0 0 165 0 0 111.727 0.00 4.22
TOTAL 0 0 438 0 0 297.022 0.00 4.22
CUMULATIVE 0 0 111
ULTIMATE 0 0 549
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 98,697 0 98,697 0 2,961 95,736
2004 0 0 80,248 0 80,248 0 2,407 77,841
2005 0 0 69,469 0 69,469 0 2,084 67,385
2006 0 0 62,168 0 62,168 0 1,865 60,303
2007 0 0 56,797 0 56,797 0 1,704 55,093
2008 0 0 52,630 0 52,630 0 1,579 51,051
2009 0 0 49,274 0 49,274 0 1,478 47,796
2010 0 0 46,495 0 46,495 0 1,395 45,100
2011 0 0 44,117 0 44,117 0 1,324 42,793
2012 0 0 41,910 0 41,910 0 1,257 40,653
2013 0 0 39,815 0 39,815 0 1,195 38,620
2014 0 0 37,824 0 37,824 0 1,134 36,690
2015 0 0 35,933 0 35,933 0 1,078 34,855
2016 0 0 34,136 0 34,136 0 1,024 33,112
2017 0 0 32,430 0 32,430 0 973 31,457
SUB-TOT 0 0 781,943 0 781,943 0 23,458 758,485
REMAIN 0 0 471,487 0 471,487 0 14,145 457,342
TOTAL 0 0 1,253,430 0 1,253,430 0 37,603 1,215,827
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 88,536 88,536 84,462
2004 7,200 0 0 0 7,200 70,641 159,177 60,956
2005 7,200 0 0 0 7,200 60,185 219,362 46,994
2006 7,200 0 0 0 7,200 53,103 272,465 37,525
2007 7,200 0 0 0 7,200 47,893 320,358 30,632
2008 7,200 0 0 0 7,200 43,851 364,209 25,385
2009 7,200 0 0 0 7,200 40,596 404,805 21,271
2010 7,200 0 0 0 7,200 37,900 442,705 17,976
2011 7,200 0 0 0 7,200 35,593 478,298 15,280
2012 7,200 0 0 0 7,200 33,453 511,751 13,001
2013 7,200 0 0 0 7,200 31,420 543,171 11,053
2014 7,200 0 0 0 7,200 29,490 572,661 9,391
2015 7,200 0 0 0 7,200 27,655 600,316 7,972
2016 7,200 0 0 0 7,200 25,912 626,228 6,762
2017 7,200 0 0 0 7,200 24,257 650,485 5,729
SUBTOT 108,000 0 0 0 108,000 650,485 394,389
REMAIN 203,400 0 0 0 203,400 253,942 904,427 29,718
TOTAL 311,400 0 0 0 311,400 904,427 424,107
LIFE OF EVALUATION IS 43.25 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 197
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #1 BP (TRENTON) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.678444 4.22 5.00% - 51,142
FINAL - 1.000000 0.678444 4.22 10.00% - 5,268
REMARKS - 15.00% - 552
20.00% - 59
25.00% - 6
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 206 0 0 139.763 0.00 4.22
TOTAL 0 0 206 0 0 139.763 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 206
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 589,800 0 589,800 0 17,694 572,106
TOTAL 0 0 589,800 0 589,800 0 17,694 572,106
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 47,071 0 20,000 0 67,071 505,035 505,035 5,268
TOTAL 47,071 0 20,000 0 67,071 505,035 5,268
LIFE OF EVALUATION IS 49.79 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 198
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
D. SUTTON HEIRS #3 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.678444 4.22 5.00% - 3,527,951
FINAL - 1.000000 0.678444 4.22 10.00% - 2,374,595
REMARKS - 15.00% - 1,759,543
20.00% - 1,377,253
25.00% - 1,115,777
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 258 0 0 175.224 0.00 4.22
2005 1 0 0 175 0 0 118.856 0.00 4.22
2006 1 0 0 142 0 0 96.219 0.00 4.22
2007 1 0 0 123 0 0 83.038 0.00 4.22
2008 1 0 0 109 0 0 74.133 0.00 4.22
2009 1 0 0 100 0 0 67.597 0.00 4.22
2010 1 0 0 92 0 0 62.534 0.00 4.22
2011 1 0 0 86 0 0 58.463 0.00 4.22
2012 1 0 0 81 0 0 55.096 0.00 4.22
2013 1 0 0 77 0 0 52.253 0.00 4.22
2014 1 0 0 73 0 0 49.647 0.00 4.22
2015 1 0 0 70 0 0 47.165 0.00 4.22
2016 1 0 0 66 0 0 44.807 0.00 4.22
2017 1 0 0 63 0 0 42.566 0.00 4.22
SUB-TOTAL 0 0 1,515 0 0 1,027.598 0.00 4.22
REMAINDER 0 0 957 0 0 649.282 0.00 4.22
TOTAL 0 0 2,472 0 0 1,676.880 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 2,472
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 739,444 0 739,444 0 22,183 717,261
2005 0 0 501,573 0 501,573 0 15,048 486,525
2006 0 0 406,045 0 406,045 0 12,181 393,864
2007 0 0 350,419 0 350,419 0 10,512 339,907
2008 0 0 312,842 0 312,842 0 9,386 303,456
2009 0 0 285,258 0 285,258 0 8,557 276,701
2010 0 0 263,894 0 263,894 0 7,917 255,977
2011 0 0 246,714 0 246,714 0 7,402 239,312
2012 0 0 232,507 0 232,507 0 6,975 225,532
2013 0 0 220,507 0 220,507 0 6,615 213,892
2014 0 0 209,511 0 209,511 0 6,285 203,226
2015 0 0 199,036 0 199,036 0 5,971 193,065
2016 0 0 189,084 0 189,084 0 5,673 183,411
2017 0 0 179,629 0 179,629 0 5,389 174,240
SUB-TOT 0 0 4,336,463 0 4,336,463 0 130,094 4,206,369
REMAIN 0 0 2,739,971 0 2,739,971 0 82,199 2,657,772
TOTAL 0 0 7,076,434 0 7,076,434 0 212,293 6,864,141
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 7,200 0 250,000 0 257,200 460,061 460,061 389,304
2005 7,200 0 0 0 7,200 479,325 939,386 374,653
2006 7,200 0 0 0 7,200 386,664 1,326,050 273,376
2007 7,200 0 0 0 7,200 332,707 1,658,757 212,854
2008 7,200 0 0 0 7,200 296,256 1,955,013 171,531
2009 7,200 0 0 0 7,200 269,501 2,224,514 141,230
2010 7,200 0 0 0 7,200 248,777 2,473,291 118,000
2011 7,200 0 0 0 7,200 232,112 2,705,403 99,652
2012 7,200 0 0 0 7,200 218,332 2,923,735 84,846
2013 7,200 0 0 0 7,200 206,692 3,130,427 72,706
2014 7,200 0 0 0 7,200 196,026 3,326,453 62,419
2015 7,200 0 0 0 7,200 185,865 3,512,318 53,573
2016 7,200 0 0 0 7,200 176,211 3,688,529 45,976
2017 7,200 0 0 0 7,200 167,040 3,855,569 39,453
SUBTOT 100,800 0 250,000 0 350,800 3,855,569 2,139,573
REMAIN 227,904 0 0 0 227,904 2,429,868 6,285,437 235,022
TOTAL 328,704 0 250,000 0 578,704 6,285,437 2,374,595
LIFE OF EVALUATION IS 46.65 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 199
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
DARNELL SUTTON #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 1
ULTIMATE 0 0 1
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 200
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEANNA CROSS #1 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 309,754
FINAL - 0.500000 0.437500 4.22 10.00% - 256,810
REMARKS - 15.00% - 215,960
20.00% - 183,911
25.00% - 158,363
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 56 0 0 24.582 0.00 4.22
2005 1 0 0 37 0 0 16.095 0.00 4.22
2006 1 0 0 29 0 0 12.495 0.00 4.22
2007 1 0 0 23 0 0 10.412 0.00 4.22
2008 1 0 0 21 0 0 9.027 0.00 4.22
2009 1 0 0 18 0 0 8.027 0.00 4.22
2010 1 0 0 17 0 0 7.265 0.00 4.22
2011 1 0 0 15 0 0 6.662 0.00 4.22
2012 1 0 0 14 0 0 6.059 0.00 4.22
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 230 0 0 100.624 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 230 0 0 100.624 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 230
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 103,737 0 103,737 0 3,112 100,625
2005 0 0 67,920 0 67,920 0 2,038 65,882
2006 0 0 52,728 0 52,728 0 1,582 51,146
2007 0 0 43,940 0 43,940 0 1,318 42,622
2008 0 0 38,095 0 38,095 0 1,143 36,952
2009 0 0 33,876 0 33,876 0 1,016 32,860
2010 0 0 30,660 0 30,660 0 920 29,740
2011 0 0 28,113 0 28,113 0 843 27,270
2012 0 0 25,569 0 25,569 0 767 24,802
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 424,638 0 424,638 0 12,739 411,899
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 424,638 0 424,638 0 12,739 411,899
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 0 0 3,600 97,025 97,025 84,007
2005 3,600 0 0 0 3,600 62,282 159,307 48,705
2006 3,600 0 0 0 3,600 47,546 206,853 33,629
2007 3,600 0 0 0 3,600 39,022 245,875 24,974
2008 3,600 0 0 0 3,600 33,352 279,227 19,317
2009 3,600 0 0 0 3,600 29,260 308,487 15,338
2010 3,600 0 0 0 3,600 26,140 334,627 12,402
2011 3,600 0 0 0 3,600 23,670 358,297 10,164
2012 3,533 0 0 0 3,533 21,269 379,566 8,274
2013 0 0 0 0 0 0 379,566 0
2014 0 0 0 0 0 0 379,566 0
2015 0 0 0 0 0 0 379,566 0
2016 0 0 0 0 0 0 379,566 0
2017 0 0 0 0 0 0 379,566 0
SUBTOT 32,333 0 0 0 32,333 379,566 256,810
REMAIN 0 0 0 0 0 0 379,566 0
TOTAL 32,333 0 0 0 32,333 379,566 256,810
LIFE OF EVALUATION IS 9.98 YEARS.
FINAL PRODUCTION RATE: 1.1 MMCF/MO
TENGASCO, INC. TABLE 201
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEANNA CROSS #1 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 226,018
FINAL - 0.500000 0.437500 4.22 10.00% - 122,558
REMARKS - 15.00% - 67,168
20.00% - 37,177
25.00% - 20,766
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 1 0 0 71 0 0 31.014 0.00 4.22
2014 1 0 0 51 0 0 22.232 0.00 4.22
2015 1 0 0 39 0 0 17.026 0.00 4.22
2016 1 0 0 30 0 0 13.336 0.00 4.22
2017 1 0 0 24 0 0 10.646 0.00 4.22
SUB-TOTAL 0 0 215 0 0 94.254 0.00 4.22
REMAINDER 0 0 41 0 0 17.600 0.00 4.22
TOTAL 0 0 256 0 0 111.854 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 256
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 130,881 0 130,881 0 3,926 126,955
2014 0 0 93,819 0 93,819 0 2,815 91,004
2015 0 0 71,851 0 71,851 0 2,156 69,695
2016 0 0 56,278 0 56,278 0 1,688 54,590
2017 0 0 44,925 0 44,925 0 1,348 43,577
SUB-TOT 0 0 397,754 0 397,754 0 11,933 385,821
REMAIN 0 0 74,271 0 74,271 0 2,228 72,043
TOTAL 0 0 472,025 0 472,025 0 14,161 457,864
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 3,600 0 10,000 0 13,600 113,355 113,355 39,882
2014 3,600 0 0 0 3,600 87,404 200,759 27,885
2015 3,600 0 0 0 3,600 66,095 266,854 19,085
2016 3,600 0 0 0 3,600 50,990 317,844 13,326
2017 3,600 0 0 0 3,600 39,977 357,821 9,456
SUBTOT 18,000 0 10,000 0 28,000 357,821 109,634
REMAIN 8,261 0 0 0 8,261 63,782 421,603 12,924
TOTAL 26,261 0 10,000 0 36,261 421,603 122,558
LIFE OF EVALUATION IS 17.29 YEARS.
FINAL PRODUCTION RATE: 1.2 MMCF/MO
TENGASCO, INC. TABLE 202
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
DEWEY SUTTON #1 (TRENTON) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 8,665 0 0
ULTIMATE 8,665 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 203
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 41,622
FINAL - 1.000000 0.875000 4.22 10.00% - 38,139
REMARKS - 15.00% - 35,175
20.00% - 32,630
25.00% - 30,428
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 7 0 0 6.084 0.00 4.22
2004 1 0 0 5 0 0 4.262 0.00 4.22
2005 1 0 0 4 0 0 3.391 0.00 4.22
2006 1 0 0 3 0 0 2.863 0.00 4.22
2007 1 0 0 3 0 0 2.502 0.00 4.22
2008 1 0 0 2 0 0 2.237 0.00 4.22
2009 1 0 0 3 0 0 2.033 0.00 4.22
2010 1 0 0 2 0 0 1.870 0.00 4.22
2011 1 0 0 1 0 0 0.592 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 30 0 0 25.834 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 30 0 0 25.834 0.00 4.22
CUMULATIVE 0 0 8
ULTIMATE 0 0 38
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 25,674 0 25,674 0 770 24,904
2004 0 0 17,987 0 17,987 0 540 17,447
2005 0 0 14,311 0 14,311 0 429 13,882
2006 0 0 12,082 0 12,082 0 363 11,719
2007 0 0 10,559 0 10,559 0 316 10,243
2008 0 0 9,441 0 9,441 0 284 9,157
2009 0 0 8,578 0 8,578 0 257 8,321
2010 0 0 7,890 0 7,890 0 237 7,653
2011 0 0 2,500 0 2,500 0 75 2,425
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 109,022 0 109,022 0 3,271 105,751
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 109,022 0 109,022 0 3,271 105,751
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 17,704 17,704 16,941
2004 7,200 0 0 0 7,200 10,247 27,951 8,862
2005 7,200 0 0 0 7,200 6,682 34,633 5,229
2006 7,200 0 0 0 7,200 4,519 39,152 3,200
2007 7,200 0 0 0 7,200 3,043 42,195 1,952
2008 7,200 0 0 0 7,200 1,957 44,152 1,136
2009 7,200 0 0 0 7,200 1,121 45,273 591
2010 7,200 0 0 0 7,200 453 45,726 217
2011 2,400 0 0 0 2,400 25 45,751 11
2012 0 0 0 0 0 0 45,751 0
2013 0 0 0 0 0 0 45,751 0
2014 0 0 0 0 0 0 45,751 0
2015 0 0 0 0 0 0 45,751 0
2016 0 0 0 0 0 0 45,751 0
2017 0 0 0 0 0 0 45,751 0
SUBTOT 60,000 0 0 0 60,000 45,751 38,139
REMAIN 0 0 0 0 0 0 45,751 0
TOTAL 60,000 0 0 0 60,000 45,751 38,139
LIFE OF EVALUATION IS 8.33 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 204
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,320,768
FINAL - 1.000000 0.875000 4.22 10.00% - 745,979
REMARKS - 15.00% - 434,602
20.00% - 259,309
25.00% - 157,591
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 178 0 0 155.745 0.00 4.22
2012 1 0 0 102 0 0 89.129 0.00 4.22
2013 1 0 0 67 0 0 58.526 0.00 4.22
2014 1 0 0 52 0 0 45.478 0.00 4.22
2015 1 0 0 43 0 0 37.918 0.00 4.22
2016 1 0 0 38 0 0 32.884 0.00 4.22
2017 1 0 0 33 0 0 29.248 0.00 4.22
SUB-TOTAL 0 0 513 0 0 448.928 0.00 4.22
REMAINDER 0 0 203 0 0 177.283 0.00 4.22
TOTAL 0 0 716 0 0 626.211 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 716
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 657,244 0 657,244 0 19,717 637,527
2012 0 0 376,125 0 376,125 0 11,284 364,841
2013 0 0 246,978 0 246,978 0 7,409 239,569
2014 0 0 191,919 0 191,919 0 5,758 186,161
2015 0 0 160,015 0 160,015 0 4,800 155,215
2016 0 0 138,771 0 138,771 0 4,164 134,607
2017 0 0 123,425 0 123,425 0 3,702 119,723
SUB-TOT 0 0 1,894,477 0 1,894,477 0 56,834 1,837,643
REMAIN 0 0 748,135 0 748,135 0 22,444 725,691
TOTAL 0 0 2,642,612 0 2,642,612 0 79,278 2,563,334
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 4,800 0 20,000 0 24,800 612,727 612,727 260,587
2012 7,200 0 0 0 7,200 357,641 970,368 139,582
2013 7,200 0 0 0 7,200 232,369 1,202,737 81,913
2014 7,200 0 0 0 7,200 178,961 1,381,698 57,061
2015 7,200 0 0 0 7,200 148,015 1,529,713 42,704
2016 7,200 0 0 0 7,200 127,407 1,657,120 33,265
2017 7,200 0 0 0 7,200 112,523 1,769,643 26,589
SUBTOT 48,000 0 20,000 0 68,000 1,769,643 641,701
REMAIN 62,019 0 0 0 62,019 663,672 2,433,315 104,278
TOTAL 110,019 0 20,000 0 130,019 2,433,315 745,979
LIFE OF EVALUATION IS 23.61 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 205
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
DORIS HELTON #1 BP2 (TRENTON-STONES RIVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 97,338
FINAL - 1.000000 0.875000 4.22 10.00% - 27,320
REMARKS - 15.00% - 7,734
20.00% - 2,208
25.00% - 636
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 112 0 0 97.999 0.00 4.22
TOTAL 0 0 112 0 0 97.999 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 112
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 413,556 0 413,556 0 12,407 401,149
TOTAL 0 0 413,556 0 413,556 0 12,407 401,149
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 31,294 0 20,000 0 51,294 349,855 349,855 27,320
TOTAL 31,294 0 20,000 0 51,294 349,855 27,320
LIFE OF EVALUATION IS 28.01 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 206
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
F. WELLS #1 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 176,233
FINAL - 1.000000 0.875000 4.22 10.00% - 136,342
REMARKS - 15.00% - 105,237
20.00% - 80,968
25.00% - 62,026
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 34 0 0 30.079 0.00 4.22
2006 1 0 0 40 0 0 34.440 0.00 4.22
2007 1 0 0 26 0 0 23.290 0.00 4.22
2008 1 0 0 21 0 0 18.286 0.00 4.22
2009 1 0 0 6 0 0 5.029 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 126,935 0 126,935 0 3,808 123,127
2006 0 0 145,337 0 145,337 0 4,360 140,977
2007 0 0 98,286 0 98,286 0 2,949 95,337
2008 0 0 77,165 0 77,165 0 2,315 74,850
2009 0 0 21,224 0 21,224 0 636 20,588
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 3,600 0 200,000 0 203,600 -80,473 -80,473 -64,148
2006 7,200 0 0 0 7,200 133,777 53,304 94,872
2007 7,200 0 0 0 7,200 88,137 141,441 56,472
2008 7,200 0 0 0 7,200 67,650 209,091 39,207
2009 2,241 0 0 0 2,241 18,347 227,438 9,939
2010 0 0 0 0 0 0 227,438 0
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 136,342
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 136,342
LIFE OF EVALUATION IS 6.31 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 207
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
FRED PORTRUM #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 2,421
FINAL - 1.000000 0.875000 4.22 10.00% - 2,326
REMARKS - 15.00% - 2,239
20.00% - 2,158
25.00% - 2,083
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 2.148 0.00 4.22
2004 1 0 0 3 0 0 1.920 0.00 4.22
2005 1 0 0 2 0 0 1.824 0.00 4.22
2006 1 0 0 0 0 0 0.295 0.00 4.22
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 7 0 0 6.187 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 7 0 0 6.187 0.00 4.22
CUMULATIVE 0 0 4
ULTIMATE 0 0 11
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 9,063 0 9,063 0 272 8,791
2004 0 0 8,102 0 8,102 0 243 7,859
2005 0 0 7,697 0 7,697 0 231 7,466
2006 0 0 1,245 0 1,245 0 37 1,208
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 26,107 0 26,107 0 783 25,324
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 26,107 0 26,107 0 783 25,324
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 1,591 1,591 1,540
2004 7,200 0 0 0 7,200 659 2,250 571
2005 7,200 0 0 0 7,200 266 2,516 210
2006 1,200 0 0 0 1,200 8 2,524 5
2007 0 0 0 0 0 0 2,524 0
2008 0 0 0 0 0 0 2,524 0
2009 0 0 0 0 0 0 2,524 0
2010 0 0 0 0 0 0 2,524 0
2011 0 0 0 0 0 0 2,524 0
2012 0 0 0 0 0 0 2,524 0
2013 0 0 0 0 0 0 2,524 0
2014 0 0 0 0 0 0 2,524 0
2015 0 0 0 0 0 0 2,524 0
2016 0 0 0 0 0 0 2,524 0
2017 0 0 0 0 0 0 2,524 0
SUBTOT 22,800 0 0 0 22,800 2,524 2,326
REMAIN 0 0 0 0 0 0 2,524 0
TOTAL 22,800 0 0 0 22,800 2,524 2,326
LIFE OF EVALUATION IS 3.17 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 208
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
FRED PORTRUM #2 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 599
FINAL - 1.000000 0.875000 4.22 10.00% - 597
REMARKS - 15.00% - 595
20.00% - 593
25.00% - 591
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 1 0 0 0.440 0.00 4.22
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 1 0 0 0.440 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 1 0 0 0.440 0.00 4.22
CUMULATIVE 0 0 2
ULTIMATE 0 0 3
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 1,857 0 1,857 0 56 1,801
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,857 0 1,857 0 56 1,801
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,857 0 1,857 0 56 1,801
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,200 0 0 0 1,200 601 601 597
2004 0 0 0 0 0 0 601 0
2005 0 0 0 0 0 0 601 0
2006 0 0 0 0 0 0 601 0
2007 0 0 0 0 0 0 601 0
2008 0 0 0 0 0 0 601 0
2009 0 0 0 0 0 0 601 0
2010 0 0 0 0 0 0 601 0
2011 0 0 0 0 0 0 601 0
2012 0 0 0 0 0 0 601 0
2013 0 0 0 0 0 0 601 0
2014 0 0 0 0 0 0 601 0
2015 0 0 0 0 0 0 601 0
2016 0 0 0 0 0 0 601 0
2017 0 0 0 0 0 0 601 0
SUBTOT 1,200 0 0 0 1,200 601 597
REMAIN 0 0 0 0 0 0 601 0
TOTAL 1,200 0 0 0 1,200 601 597
LIFE OF EVALUATION IS 0.17 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 209
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 9
ULTIMATE 0 0 9
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 210
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 1,385,518
FINAL - 1.000000 0.656250 4.22 10.00% - 1,053,647
REMARKS - 15.00% - 847,432
20.00% - 709,977
25.00% - 612,674
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 96 0 0 63.048 0.00 4.22
2004 1 0 0 71 0 0 46.793 0.00 4.22
2005 1 0 0 60 0 0 38.953 0.00 4.22
2006 1 0 0 52 0 0 34.088 0.00 4.22
2007 1 0 0 46 0 0 30.689 0.00 4.22
2008 1 0 0 43 0 0 28.140 0.00 4.22
2009 1 0 0 40 0 0 26.138 0.00 4.22
2010 1 0 0 37 0 0 24.510 0.00 4.22
2011 1 0 0 36 0 0 23.153 0.00 4.22
2012 1 0 0 33 0 0 21.988 0.00 4.22
2013 1 0 0 32 0 0 20.888 0.00 4.22
2014 1 0 0 30 0 0 19.844 0.00 4.22
2015 1 0 0 29 0 0 18.852 0.00 4.22
2016 1 0 0 27 0 0 17.909 0.00 4.22
2017 1 0 0 26 0 0 17.014 0.00 4.22
SUB-TOTAL 0 0 658 0 0 432.007 0.00 4.22
REMAINDER 0 0 137 0 0 89.840 0.00 4.22
TOTAL 0 0 795 0 0 521.847 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 795
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 266,061 0 266,061 0 7,982 258,079
2004 0 0 197,465 0 197,465 0 5,924 191,541
2005 0 0 164,382 0 164,382 0 4,931 159,451
2006 0 0 143,851 0 143,851 0 4,316 139,535
2007 0 0 129,506 0 129,506 0 3,885 125,621
2008 0 0 118,752 0 118,752 0 3,563 115,189
2009 0 0 110,301 0 110,301 0 3,309 106,992
2010 0 0 103,433 0 103,433 0 3,103 100,330
2011 0 0 97,707 0 97,707 0 2,931 94,776
2012 0 0 92,787 0 92,787 0 2,783 90,004
2013 0 0 88,149 0 88,149 0 2,645 85,504
2014 0 0 83,741 0 83,741 0 2,512 81,229
2015 0 0 79,554 0 79,554 0 2,387 77,167
2016 0 0 75,577 0 75,577 0 2,267 73,310
2017 0 0 71,797 0 71,797 0 2,154 69,643
SUB-TOT 0 0 1,823,063 0 1,823,063 0 54,692 1,768,371
REMAIN 0 0 379,125 0 379,125 0 11,374 367,751
TOTAL 0 0 2,202,188 0 2,202,188 0 66,066 2,136,122
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 20,000 0 27,200 230,879 230,879 219,682
2004 7,200 0 0 0 7,200 184,341 415,220 159,127
2005 7,200 0 0 0 7,200 152,251 567,471 118,901
2006 7,200 0 0 0 7,200 132,335 699,806 93,523
2007 7,200 0 0 0 7,200 118,421 818,227 75,743
2008 7,200 0 0 0 7,200 107,989 926,216 62,516
2009 7,200 0 0 0 7,200 99,792 1,026,008 52,289
2010 7,200 0 0 0 7,200 93,130 1,119,138 44,171
2011 7,200 0 0 0 7,200 87,576 1,206,714 37,596
2012 7,200 0 0 0 7,200 82,804 1,289,518 32,178
2013 7,200 0 0 0 7,200 78,304 1,367,822 27,545
2014 7,200 0 0 0 7,200 74,029 1,441,851 23,573
2015 7,200 0 0 0 7,200 69,967 1,511,818 20,168
2016 7,200 0 0 0 7,200 66,110 1,577,928 17,250
2017 7,200 0 0 0 7,200 62,443 1,640,371 14,748
SUBTOT 108,000 0 20,000 0 128,000 1,640,371 999,010
REMAIN 45,707 0 0 0 45,707 322,044 1,962,415 54,637
TOTAL 153,707 0 20,000 0 173,707 1,962,415 1,053,647
LIFE OF EVALUATION IS 21.35 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 211
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
GARY PATTON #2 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 0.656250 26.90 4.22 5.00% - 143,022
FINAL - 1.000000 0.656250 0.656250 26.90 4.22 10.00% - 45,857
REMARKS - 15.00% - 14,823
20.00% - 4,829
25.00% - 1,585
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 20,616 0 69 13,530 0 45.230 26.90 4.22
TOTAL 20,616 0 69 13,530 0 45.230 26.90 4.22
CUMULATIVE 0 0 0
ULTIMATE 20,616 0 69
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 363,945 0 190,869 0 554,814 10,918 5,726 538,170
TOTAL 363,945 0 190,869 0 554,814 10,918 5,726 538,170
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 63,308 0 25,000 0 88,308 449,862 449,862 45,857
TOTAL 63,308 0 25,000 0 88,308 449,862 45,857
LIFE OF EVALUATION IS 28.01 YEARS.
FINAL PRODUCTION RATE: 31 BBLS/MO
TENGASCO, INC. TABLE 212
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
GUY TOBEY #1 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 174,048
FINAL - 1.000000 0.875000 4.22 10.00% - 132,989
REMARKS - 15.00% - 101,387
20.00% - 77,051
25.00% - 58,306
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 20 0 0 17.254 0.00 4.22
2006 1 0 0 46 0 0 40.155 0.00 4.22
2007 1 0 0 28 0 0 25.172 0.00 4.22
2008 1 0 0 22 0 0 19.274 0.00 4.22
2009 1 0 0 11 0 0 9.271 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 72,813 0 72,813 0 2,184 70,629
2006 0 0 169,452 0 169,452 0 5,084 164,368
2007 0 0 106,225 0 106,225 0 3,187 103,038
2008 0 0 81,336 0 81,336 0 2,440 78,896
2009 0 0 39,121 0 39,121 0 1,173 37,948
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -131,171 -131,171 -99,728
2006 7,200 0 0 0 7,200 157,168 25,997 111,585
2007 7,200 0 0 0 7,200 95,838 121,835 61,424
2008 7,200 0 0 0 7,200 71,696 193,531 41,558
2009 4,041 0 0 0 4,041 33,907 227,438 18,150
2010 0 0 0 0 0 0 227,438 0
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 132,989
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 132,989
LIFE OF EVALUATION IS 6.56 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 213
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
HAZEL SUTTON #2 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 62,934
FINAL - 1.000000 0.875000 4.22 10.00% - 55,210
REMARKS - 15.00% - 49,136
20.00% - 44,264
25.00% - 40,285
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 7 0 0 6.560 0.00 4.22
2004 1 0 0 6 0 0 5.031 0.00 4.22
2005 1 0 0 5 0 0 4.167 0.00 4.22
2006 1 0 0 4 0 0 3.599 0.00 4.22
2007 1 0 0 4 0 0 3.192 0.00 4.22
2008 1 0 0 3 0 0 2.884 0.00 4.22
2009 1 0 0 3 0 0 2.641 0.00 4.22
2010 1 0 0 3 0 0 2.443 0.00 4.22
2011 1 0 0 2 0 0 2.279 0.00 4.22
2012 1 0 0 3 0 0 2.140 0.00 4.22
2013 1 0 0 2 0 0 2.020 0.00 4.22
2014 1 0 0 2 0 0 1.916 0.00 4.22
2015 1 0 0 3 0 0 1.820 0.00 4.22
2016 1 0 0 0 0 0 0.294 0.00 4.22
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 47 0 0 40.986 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 47 0 0 40.986 0.00 4.22
CUMULATIVE 0 0 32
ULTIMATE 0 0 79
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 27,685 0 27,685 0 831 26,854
2004 0 0 21,230 0 21,230 0 636 20,594
2005 0 0 17,582 0 17,582 0 528 17,054
2006 0 0 15,187 0 15,187 0 456 14,731
2007 0 0 13,471 0 13,471 0 404 13,067
2008 0 0 12,171 0 12,171 0 365 11,806
2009 0 0 11,144 0 11,144 0 334 10,810
2010 0 0 10,311 0 10,311 0 309 10,002
2011 0 0 9,618 0 9,618 0 289 9,329
2012 0 0 9,030 0 9,030 0 271 8,759
2013 0 0 8,525 0 8,525 0 256 8,269
2014 0 0 8,084 0 8,084 0 242 7,842
2015 0 0 7,680 0 7,680 0 231 7,449
2016 0 0 1,242 0 1,242 0 37 1,205
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 172,960 0 172,960 0 5,189 167,771
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 172,960 0 172,960 0 5,189 167,771
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 19,654 19,654 18,775
2004 7,200 0 0 0 7,200 13,394 33,048 11,572
2005 7,200 0 0 0 7,200 9,854 42,902 7,703
2006 7,200 0 0 0 7,200 7,531 50,433 5,328
2007 7,200 0 0 0 7,200 5,867 56,300 3,757
2008 7,200 0 0 0 7,200 4,606 60,906 2,670
2009 7,200 0 0 0 7,200 3,610 64,516 1,895
2010 7,200 0 0 0 7,200 2,802 67,318 1,331
2011 7,200 0 0 0 7,200 2,129 69,447 915
2012 7,200 0 0 0 7,200 1,559 71,006 608
2013 7,200 0 0 0 7,200 1,069 72,075 377
2014 7,200 0 0 0 7,200 642 72,717 205
2015 7,200 0 0 0 7,200 249 72,966 73
2016 1,200 0 0 0 1,200 5 72,971 1
2017 0 0 0 0 0 0 72,971 0
SUBTOT 94,800 0 0 0 94,800 72,971 55,210
REMAIN 0 0 0 0 0 0 72,971 0
TOTAL 94,800 0 0 0 94,800 72,971 55,210
LIFE OF EVALUATION IS 13.17 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 214
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 8-T1S-R75E PROVED
HUGH ROBERTS #1 (REEDSVILLE) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 133,544
FINAL - 0.500000 0.437500 4.22 10.00% - 123,855
REMARKS - 15.00% - 115,074
20.00% - 107,100
25.00% - 99,845
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 27 0 0 11.845 0.00 4.22
2004 1 0 0 32 0 0 14.086 0.00 4.22
2005 1 0 0 22 0 0 9.656 0.00 4.22
2006 1 0 0 5 0 0 2.076 0.00 4.22
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 86 0 0 37.663 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 86 0 0 37.663 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 86
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 49,984 0 49,984 0 1,500 48,484
2004 0 0 59,442 0 59,442 0 1,783 57,659
2005 0 0 40,747 0 40,747 0 1,222 39,525
2006 0 0 8,761 0 8,761 0 263 8,498
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 158,934 0 158,934 0 4,768 154,166
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 158,934 0 158,934 0 4,768 154,166
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,800 0 0 0 1,800 46,684 46,684 43,427
2004 3,600 0 0 0 3,600 54,059 100,743 46,780
2005 3,600 0 0 0 3,600 35,925 136,668 28,090
2006 911 0 0 0 911 7,587 144,255 5,558
2007 0 0 0 0 0 0 144,255 0
2008 0 0 0 0 0 0 144,255 0
2009 0 0 0 0 0 0 144,255 0
2010 0 0 0 0 0 0 144,255 0
2011 0 0 0 0 0 0 144,255 0
2012 0 0 0 0 0 0 144,255 0
2013 0 0 0 0 0 0 144,255 0
2014 0 0 0 0 0 0 144,255 0
2015 0 0 0 0 0 0 144,255 0
2016 0 0 0 0 0 0 144,255 0
2017 0 0 0 0 0 0 144,255 0
SUBTOT 9,911 0 0 0 9,911 144,255 123,855
REMAIN 0 0 0 0 0 0 144,255 0
TOTAL 9,911 0 0 0 9,911 144,255 123,855
LIFE OF EVALUATION IS 3.25 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 215
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 8-T1S-R75E PROVED
HUGH ROBERTS #1 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 225,131
FINAL - 0.500000 0.437500 4.22 10.00% - 166,968
REMARKS - 15.00% - 125,096
20.00% - 94,621
25.00% - 72,205
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 31 0 0 13.585 0.00 4.22
2007 1 0 0 36 0 0 15.717 0.00 4.22
2008 1 0 0 29 0 0 12.852 0.00 4.22
2009 1 0 0 26 0 0 11.145 0.00 4.22
2010 1 0 0 23 0 0 9.979 0.00 4.22
2011 1 0 0 20 0 0 9.116 0.00 4.22
2012 1 0 0 20 0 0 8.445 0.00 4.22
2013 1 0 0 6 0 0 2.724 0.00 4.22
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 83.563 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 83.563 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 57,329 0 57,329 0 1,720 55,609
2007 0 0 66,327 0 66,327 0 1,990 64,337
2008 0 0 54,235 0 54,235 0 1,627 52,608
2009 0 0 47,032 0 47,032 0 1,411 45,621
2010 0 0 42,110 0 42,110 0 1,263 40,847
2011 0 0 38,470 0 38,470 0 1,154 37,316
2012 0 0 35,637 0 35,637 0 1,069 34,568
2013 0 0 11,494 0 11,494 0 345 11,149
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 352,634 0 352,634 0 10,579 342,055
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 352,634 0 352,634 0 10,579 342,055
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 2,400 0 10,000 0 12,400 43,209 43,209 29,851
2007 3,600 0 0 0 3,600 60,737 103,946 38,899
2008 3,600 0 0 0 3,600 49,008 152,954 28,393
2009 3,600 0 0 0 3,600 42,021 194,975 22,029
2010 3,600 0 0 0 3,600 37,247 232,222 17,672
2011 3,600 0 0 0 3,600 33,716 265,938 14,478
2012 3,600 0 0 0 3,600 30,968 296,906 12,037
2013 1,215 0 0 0 1,215 9,934 306,840 3,609
2014 0 0 0 0 0 0 306,840 0
2015 0 0 0 0 0 0 306,840 0
2016 0 0 0 0 0 0 306,840 0
2017 0 0 0 0 0 0 306,840 0
SUBTOT 25,215 0 10,000 0 35,215 306,840 166,968
REMAIN 0 0 0 0 0 0 306,840 0
TOTAL 25,215 0 10,000 0 35,215 306,840 166,968
LIFE OF EVALUATION IS 10.34 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 216
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 7-T1S-R75E PROVED
JEFF JOHNSON #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 84,483
FINAL - 0.500000 0.437500 4.22 10.00% - 69,161
REMARKS - 15.00% - 58,707
20.00% - 51,170
25.00% - 45,486
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 13 0 0 5.789 0.00 4.22
2004 1 0 0 10 0 0 4.367 0.00 4.22
2005 1 0 0 8 0 0 3.588 0.00 4.22
2006 1 0 0 7 0 0 3.084 0.00 4.22
2007 1 0 0 7 0 0 2.727 0.00 4.22
2008 1 0 0 5 0 0 2.458 0.00 4.22
2009 1 0 0 5 0 0 2.247 0.00 4.22
2010 1 0 0 5 0 0 2.077 0.00 4.22
2011 1 0 0 5 0 0 1.935 0.00 4.22
2012 1 0 0 4 0 0 1.815 0.00 4.22
2013 1 0 0 4 0 0 1.712 0.00 4.22
2014 1 0 0 3 0 0 1.623 0.00 4.22
2015 1 0 0 4 0 0 1.542 0.00 4.22
2016 1 0 0 3 0 0 1.465 0.00 4.22
2017 1 0 0 3 0 0 1.391 0.00 4.22
SUB-TOTAL 0 0 86 0 0 37.820 0.00 4.22
REMAINDER 0 0 22 0 0 9.268 0.00 4.22
TOTAL 0 0 108 0 0 47.088 0.00 4.22
CUMULATIVE 0 0 51
ULTIMATE 0 0 159
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 24,431 0 24,431 0 733 23,698
2004 0 0 18,428 0 18,428 0 553 17,875
2005 0 0 15,140 0 15,140 0 454 14,686
2006 0 0 13,016 0 13,016 0 390 12,626
2007 0 0 11,509 0 11,509 0 346 11,163
2008 0 0 10,374 0 10,374 0 311 10,063
2009 0 0 9,484 0 9,484 0 284 9,200
2010 0 0 8,763 0 8,763 0 263 8,500
2011 0 0 8,165 0 8,165 0 245 7,920
2012 0 0 7,660 0 7,660 0 230 7,430
2013 0 0 7,226 0 7,226 0 217 7,009
2014 0 0 6,849 0 6,849 0 205 6,644
2015 0 0 6,505 0 6,505 0 196 6,309
2016 0 0 6,181 0 6,181 0 185 5,996
2017 0 0 5,871 0 5,871 0 176 5,695
SUB-TOT 0 0 159,602 0 159,602 0 4,788 154,814
REMAIN 0 0 39,113 0 39,113 0 1,173 37,940
TOTAL 0 0 198,715 0 198,715 0 5,961 192,754
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 0 0 3,600 20,098 20,098 19,194
2004 3,600 0 0 0 3,600 14,275 34,373 12,328
2005 3,600 0 0 0 3,600 11,086 45,459 8,662
2006 3,600 0 0 0 3,600 9,026 54,485 6,383
2007 3,600 0 0 0 3,600 7,563 62,048 4,840
2008 3,600 0 0 0 3,600 6,463 68,511 3,743
2009 3,600 0 0 0 3,600 5,600 74,111 2,936
2010 3,600 0 0 0 3,600 4,900 79,011 2,325
2011 3,600 0 0 0 3,600 4,320 83,331 1,856
2012 3,600 0 0 0 3,600 3,830 87,161 1,489
2013 3,600 0 0 0 3,600 3,409 90,570 1,200
2014 3,600 0 0 0 3,600 3,044 93,614 969
2015 3,600 0 0 0 3,600 2,709 96,323 782
2016 3,600 0 0 0 3,600 2,396 98,719 625
2017 3,600 0 0 0 3,600 2,095 100,814 495
SUBTOT 54,000 0 0 0 54,000 100,814 67,827
REMAIN 30,300 0 0 0 30,300 7,640 108,454 1,334
TOTAL 84,300 0 0 0 84,300 108,454 69,161
LIFE OF EVALUATION IS 23.42 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 217
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
JEFF JOHNSON #2 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 39,152
FINAL - 1.000000 0.875000 4.22 10.00% - 23,381
REMARKS - 15.00% - 9,952
20.00% - -1,482
25.00% - -11,216
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 19 0 0 16.689 0.00 4.22
2004 1 0 0 25 0 0 21.539 0.00 4.22
2005 1 0 0 17 0 0 15.268 0.00 4.22
2006 1 0 0 14 0 0 12.207 0.00 4.22
2007 1 0 0 5 0 0 4.066 0.00 4.22
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 80 0 0 69.769 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 80 0 0 69.769 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 80
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 70,429 0 70,429 0 2,113 68,316
2004 0 0 90,894 0 90,894 0 2,727 88,167
2005 0 0 64,432 0 64,432 0 1,933 62,499
2006 0 0 51,512 0 51,512 0 1,545 49,967
2007 0 0 17,158 0 17,158 0 515 16,643
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 294,425 0 294,425 0 8,833 285,592
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 294,425 0 294,425 0 8,833 285,592
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 200,000 0 203,600 -135,284 -135,284 -129,324
2004 7,200 0 0 0 7,200 80,967 -54,317 70,038
2005 7,200 0 0 0 7,200 55,299 982 43,235
2006 7,200 0 0 0 7,200 42,767 43,749 30,248
2007 2,708 0 0 0 2,708 13,935 57,684 9,184
2008 0 0 0 0 0 0 57,684 0
2009 0 0 0 0 0 0 57,684 0
2010 0 0 0 0 0 0 57,684 0
2011 0 0 0 0 0 0 57,684 0
2012 0 0 0 0 0 0 57,684 0
2013 0 0 0 0 0 0 57,684 0
2014 0 0 0 0 0 0 57,684 0
2015 0 0 0 0 0 0 57,684 0
2016 0 0 0 0 0 0 57,684 0
2017 0 0 0 0 0 0 57,684 0
SUBTOT 27,908 0 200,000 0 227,908 57,684 23,381
REMAIN 0 0 0 0 0 0 57,684 0
TOTAL 27,908 0 200,000 0 227,908 57,684 23,381
LIFE OF EVALUATION IS 4.38 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 218
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROBABLE
LANGE #1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.000000 0.062500 4.22 5.00% - 33,412
FINAL - 0.000000 0.062500 4.22 10.00% - 26,433
REMARKS - 15.00% - 21,330
20.00% - 17,521
25.00% - 14,620
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 27 0 0 1.661 0.00 4.22
2005 1 0 0 22 0 0 1.375 0.00 4.22
2006 1 0 0 19 0 0 1.200 0.00 4.22
2007 1 0 0 17 0 0 1.078 0.00 4.22
2008 1 0 0 16 0 0 0.987 0.00 4.22
2009 1 0 0 14 0 0 0.916 0.00 4.22
2010 1 0 0 14 0 0 0.859 0.00 4.22
2011 1 0 0 13 0 0 0.802 0.00 4.22
2012 1 0 0 12 0 0 0.750 0.00 4.22
2013 1 0 0 11 0 0 0.712 0.00 4.22
2014 1 0 0 4 0 0 0.203 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 169 0 0 10.543 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 169 0 0 10.543 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 169
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 7,011 0 7,011 0 210 6,801
2005 0 0 5,802 0 5,802 0 174 5,628
2006 0 0 5,063 0 5,063 0 152 4,911
2007 0 0 4,549 0 4,549 0 137 4,412
2008 0 0 4,166 0 4,166 0 125 4,041
2009 0 0 3,867 0 3,867 0 116 3,751
2010 0 0 3,623 0 3,623 0 108 3,515
2011 0 0 3,385 0 3,385 0 102 3,283
2012 0 0 3,165 0 3,165 0 95 3,070
2013 0 0 3,007 0 3,007 0 90 2,917
2014 0 0 858 0 858 0 26 832
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 44,496 0 44,496 0 1,335 43,161
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 44,496 0 44,496 0 1,335 43,161
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 6,801 6,801 5,871
2005 0 0 0 0 0 5,628 12,429 4,395
2006 0 0 0 0 0 4,911 17,340 3,470
2007 0 0 0 0 0 4,412 21,752 2,822
2008 0 0 0 0 0 4,041 25,793 2,339
2009 0 0 0 0 0 3,751 29,544 1,966
2010 0 0 0 0 0 3,515 33,059 1,667
2011 0 0 0 0 0 3,283 36,342 1,410
2012 0 0 0 0 0 3,070 39,412 1,193
2013 0 0 0 0 0 2,917 42,329 1,026
2014 0 0 0 0 0 832 43,161 274
2015 0 0 0 0 0 0 43,161 0
2016 0 0 0 0 0 0 43,161 0
2017 0 0 0 0 0 0 43,161 0
SUBTOT 0 0 0 0 0 43,161 26,433
REMAIN 0 0 0 0 0 0 43,161 0
TOTAL 0 0 0 0 0 43,161 26,433
LIFE OF EVALUATION IS 11.29 YEARS.
FINAL PRODUCTION RATE: 0.9 MMCF/MO
TENGASCO, INC. TABLE 219
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROBABLE
LANGE #1 BP (TRENTON-SR-MB) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.000000 0.062500 4.22 5.00% - 12,235
FINAL - 0.000000 0.062500 4.22 10.00% - 6,535
REMARKS - 15.00% - 3,508
20.00% - 1,892
25.00% - 1,026
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 30 0 0 1.858 0.00 4.22
2015 1 0 0 28 0 0 1.782 0.00 4.22
2016 1 0 0 19 0 0 1.153 0.00 4.22
2017 1 0 0 13 0 0 0.810 0.00 4.22
SUB-TOTAL 0 0 90 0 0 5.603 0.00 4.22
REMAINDER 0 0 0 0 0 0.022 0.00 4.22
TOTAL 0 0 90 0 0 5.625 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 90
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 7,839 0 7,839 0 235 7,604
2015 0 0 7,520 0 7,520 0 226 7,294
2016 0 0 4,867 0 4,867 0 146 4,721
2017 0 0 3,419 0 3,419 0 102 3,317
SUB-TOT 0 0 23,645 0 23,645 0 709 22,936
REMAIN 0 0 91 0 91 0 3 88
TOTAL 0 0 23,736 0 23,736 0 712 23,024
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 7,604 7,604 2,385
2015 0 0 0 0 0 7,294 14,898 2,110
2016 0 0 0 0 0 4,721 19,619 1,235
2017 0 0 0 0 0 3,317 22,936 785
SUBTOT 0 0 0 0 0 22,936 6,515
REMAIN 0 0 0 0 0 88 23,024 20
TOTAL 0 0 0 0 0 23,024 6,535
LIFE OF EVALUATION IS 15.03 YEARS.
FINAL PRODUCTION RATE: 0.9 MMCF/MO
TENGASCO, INC. TABLE 220
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #1 (MURFREESBORO) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 194,657
FINAL - 1.000000 0.875000 4.22 10.00% - 145,314
REMARKS - 15.00% - 114,817
20.00% - 94,538
25.00% - 80,233
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 9 0 0 7.778 0.00 4.22
2004 1 0 0 8 0 0 7.389 0.00 4.22
2005 1 0 0 8 0 0 7.019 0.00 4.22
2006 1 0 0 8 0 0 6.668 0.00 4.22
2007 1 0 0 7 0 0 6.335 0.00 4.22
2008 1 0 0 7 0 0 6.018 0.00 4.22
2009 1 0 0 7 0 0 5.717 0.00 4.22
2010 1 0 0 6 0 0 5.431 0.00 4.22
2011 1 0 0 6 0 0 5.160 0.00 4.22
2012 1 0 0 5 0 0 4.902 0.00 4.22
2013 1 0 0 6 0 0 4.657 0.00 4.22
2014 1 0 0 5 0 0 4.424 0.00 4.22
2015 1 0 0 5 0 0 4.203 0.00 4.22
2016 1 0 0 4 0 0 3.993 0.00 4.22
2017 1 0 0 4 0 0 3.793 0.00 4.22
SUB-TOTAL 0 0 95 0 0 83.487 0.00 4.22
REMAINDER 0 0 36 0 0 31.076 0.00 4.22
TOTAL 0 0 131 0 0 114.563 0.00 4.22
CUMULATIVE 0 0 10
ULTIMATE 0 0 141
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 32,822 0 32,822 0 985 31,837
2004 0 0 31,180 0 31,180 0 935 30,245
2005 0 0 29,622 0 29,622 0 889 28,733
2006 0 0 28,141 0 28,141 0 844 27,297
2007 0 0 26,733 0 26,733 0 802 25,931
2008 0 0 25,397 0 25,397 0 762 24,635
2009 0 0 24,127 0 24,127 0 724 23,403
2010 0 0 22,921 0 22,921 0 687 22,234
2011 0 0 21,774 0 21,774 0 654 21,120
2012 0 0 20,686 0 20,686 0 620 20,066
2013 0 0 19,652 0 19,652 0 590 19,062
2014 0 0 18,669 0 18,669 0 560 18,109
2015 0 0 17,735 0 17,735 0 532 17,203
2016 0 0 16,849 0 16,849 0 505 16,344
2017 0 0 16,007 0 16,007 0 480 15,527
SUB-TOT 0 0 352,315 0 352,315 0 10,569 341,746
REMAIN 0 0 131,142 0 131,142 0 3,935 127,207
TOTAL 0 0 483,457 0 483,457 0 14,504 468,953
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 24,637 24,637 23,463
2004 7,200 0 0 0 7,200 23,045 47,682 19,866
2005 7,200 0 0 0 7,200 21,533 69,215 16,804
2006 7,200 0 0 0 7,200 20,097 89,312 14,197
2007 7,200 0 0 0 7,200 18,731 108,043 11,977
2008 7,200 0 0 0 7,200 17,435 125,478 10,092
2009 7,200 0 0 0 7,200 16,203 141,681 8,491
2010 7,200 0 0 0 7,200 15,034 156,715 7,131
2011 7,200 0 0 0 7,200 13,920 170,635 5,977
2012 7,200 0 0 0 7,200 12,866 183,501 5,000
2013 7,200 0 0 0 7,200 11,862 195,363 4,174
2014 7,200 0 0 0 7,200 10,909 206,272 3,475
2015 7,200 0 0 0 7,200 10,003 216,275 2,884
2016 7,200 0 0 0 7,200 9,144 225,419 2,386
2017 7,200 0 0 0 7,200 8,327 233,746 1,968
SUBTOT 108,000 0 0 0 108,000 233,746 137,885
REMAIN 79,204 0 0 0 79,204 48,003 281,749 7,429
TOTAL 187,204 0 0 0 187,204 281,749 145,314
LIFE OF EVALUATION IS 26.00 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 221
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #2 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 1,590,796
FINAL - 1.000000 0.656250 4.22 10.00% - 1,115,810
REMARKS - 15.00% - 862,779
20.00% - 706,178
25.00% - 599,511
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 76 0 0 50.068 0.00 4.22
2004 1 0 0 68 0 0 44.159 0.00 4.22
2005 1 0 0 60 0 0 39.734 0.00 4.22
2006 1 0 0 55 0 0 36.275 0.00 4.22
2007 1 0 0 51 0 0 33.483 0.00 4.22
2008 1 0 0 48 0 0 31.173 0.00 4.22
2009 1 0 0 44 0 0 29.224 0.00 4.22
2010 1 0 0 42 0 0 27.554 0.00 4.22
2011 1 0 0 40 0 0 26.103 0.00 4.22
2012 1 0 0 38 0 0 24.794 0.00 4.22
2013 1 0 0 36 0 0 23.554 0.00 4.22
2014 1 0 0 34 0 0 22.376 0.00 4.22
2015 1 0 0 32 0 0 21.257 0.00 4.22
2016 1 0 0 31 0 0 20.195 0.00 4.22
2017 1 0 0 29 0 0 19.185 0.00 4.22
SUB-TOTAL 0 0 684 0 0 449.134 0.00 4.22
REMAINDER 0 0 464 0 0 303.973 0.00 4.22
TOTAL 0 0 1,148 0 0 753.107 0.00 4.22
CUMULATIVE 0 0 157
ULTIMATE 0 0 1,305
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 211,289 0 211,289 0 6,339 204,950
2004 0 0 186,349 0 186,349 0 5,590 180,759
2005 0 0 167,678 0 167,678 0 5,030 162,648
2006 0 0 153,081 0 153,081 0 4,593 148,488
2007 0 0 141,297 0 141,297 0 4,239 137,058
2008 0 0 131,549 0 131,549 0 3,946 127,603
2009 0 0 123,326 0 123,326 0 3,700 119,626
2010 0 0 116,278 0 116,278 0 3,488 112,790
2011 0 0 110,157 0 110,157 0 3,305 106,852
2012 0 0 104,629 0 104,629 0 3,139 101,490
2013 0 0 99,398 0 99,398 0 2,982 96,416
2014 0 0 94,427 0 94,427 0 2,833 91,594
2015 0 0 89,707 0 89,707 0 2,691 87,016
2016 0 0 85,221 0 85,221 0 2,557 82,664
2017 0 0 80,960 0 80,960 0 2,428 78,532
SUB-TOT 0 0 1,895,346 0 1,895,346 0 56,860 1,838,486
REMAIN 0 0 1,282,764 0 1,282,764 0 38,483 1,244,281
TOTAL 0 0 3,178,110 0 3,178,110 0 95,343 3,082,767
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 197,750 197,750 188,443
2004 7,200 0 0 0 7,200 173,559 371,309 149,685
2005 7,200 0 0 0 7,200 155,448 526,757 121,340
2006 7,200 0 0 0 7,200 141,288 668,045 99,823
2007 7,200 0 0 0 7,200 129,858 797,903 83,044
2008 7,200 0 0 0 7,200 120,403 918,306 69,695
2009 7,200 0 0 0 7,200 112,426 1,030,732 58,905
2010 7,200 0 0 0 7,200 105,590 1,136,322 50,078
2011 7,200 0 0 0 7,200 99,652 1,235,974 42,780
2012 7,200 0 0 0 7,200 94,290 1,330,264 36,642
2013 7,200 0 0 0 7,200 89,216 1,419,480 31,383
2014 7,200 0 0 0 7,200 84,394 1,503,874 26,873
2015 7,200 0 0 0 7,200 79,816 1,583,690 23,007
2016 7,200 0 0 0 7,200 75,464 1,659,154 19,690
2017 7,200 0 0 0 7,200 71,332 1,730,486 16,848
SUBTOT 108,000 0 0 0 108,000 1,730,486 1,018,236
REMAIN 252,000 0 0 0 252,000 992,281 2,722,767 97,574
TOTAL 360,000 0 0 0 360,000 2,722,767 1,115,810
LIFE OF EVALUATION IS 50.00 YEARS.
FINAL PRODUCTION RATE: 0.4 MMCF/MO
TENGASCO, INC. TABLE 222
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #2 BP (TRENTON-MURFREESBORO) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 49.92 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 223
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LAURA J. LAWSON #3 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.940000 0.822500 4.22 5.00% - 13,375
FINAL - 0.940000 0.822500 4.22 10.00% - 11,775
REMARKS - 15.00% - 10,462
20.00% - 9,375
25.00% - 8,467
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 3 0 0 2.461 0.00 4.22
2004 1 0 0 3 0 0 2.402 0.00 4.22
2005 1 0 0 3 0 0 2.282 0.00 4.22
2006 1 0 0 2 0 0 2.167 0.00 4.22
2007 1 0 0 3 0 0 2.059 0.00 4.22
2008 1 0 0 2 0 0 1.956 0.00 4.22
2009 1 0 0 2 0 0 1.858 0.00 4.22
2010 1 0 0 3 0 0 1.765 0.00 4.22
2011 1 0 0 1 0 0 1.266 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 22 0 0 18.216 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 22 0 0 18.216 0.00 4.22
CUMULATIVE 0 0 4
ULTIMATE 0 0 26
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 10,386 0 10,386 0 312 10,074
2004 0 0 10,135 0 10,135 0 304 9,831
2005 0 0 9,628 0 9,628 0 288 9,340
2006 0 0 9,146 0 9,146 0 275 8,871
2007 0 0 8,690 0 8,690 0 261 8,429
2008 0 0 8,254 0 8,254 0 247 8,007
2009 0 0 7,842 0 7,842 0 235 7,607
2010 0 0 7,450 0 7,450 0 224 7,226
2011 0 0 5,342 0 5,342 0 160 5,182
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 76,873 0 76,873 0 2,306 74,567
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 76,873 0 76,873 0 2,306 74,567
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,768 0 0 0 6,768 3,306 3,306 3,147
2004 6,768 0 0 0 6,768 3,063 6,369 2,642
2005 6,768 0 0 0 6,768 2,572 8,941 2,009
2006 6,768 0 0 0 6,768 2,103 11,044 1,488
2007 6,768 0 0 0 6,768 1,661 12,705 1,064
2008 6,768 0 0 0 6,768 1,239 13,944 718
2009 6,768 0 0 0 6,768 839 14,783 441
2010 6,768 0 0 0 6,768 458 15,241 219
2011 5,076 0 0 0 5,076 106 15,347 47
2012 0 0 0 0 0 0 15,347 0
2013 0 0 0 0 0 0 15,347 0
2014 0 0 0 0 0 0 15,347 0
2015 0 0 0 0 0 0 15,347 0
2016 0 0 0 0 0 0 15,347 0
2017 0 0 0 0 0 0 15,347 0
SUBTOT 59,220 0 0 0 59,220 15,347 11,775
REMAIN 0 0 0 0 0 0 15,347 0
TOTAL 59,220 0 0 0 59,220 15,347 11,775
LIFE OF EVALUATION IS 8.75 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 224
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #4 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 26,671
FINAL - 1.000000 0.875000 4.22 10.00% - 22,669
REMARKS - 15.00% - 19,570
20.00% - 17,130
25.00% - 15,176
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 3.068 0.00 4.22
2004 1 0 0 3 0 0 2.996 0.00 4.22
2005 1 0 0 3 0 0 2.847 0.00 4.22
2006 1 0 0 3 0 0 2.704 0.00 4.22
2007 1 0 0 3 0 0 2.569 0.00 4.22
2008 1 0 0 3 0 0 2.441 0.00 4.22
2009 1 0 0 3 0 0 2.319 0.00 4.22
2010 1 0 0 2 0 0 2.203 0.00 4.22
2011 1 0 0 3 0 0 2.092 0.00 4.22
2012 1 0 0 2 0 0 1.988 0.00 4.22
2013 1 0 0 2 0 0 1.888 0.00 4.22
2014 1 0 0 2 0 0 1.648 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 33 0 0 28.763 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 33 0 0 28.763 0.00 4.22
CUMULATIVE 0 0 6
ULTIMATE 0 0 39
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 12,945 0 12,945 0 388 12,557
2004 0 0 12,644 0 12,644 0 380 12,264
2005 0 0 12,013 0 12,013 0 360 11,653
2006 0 0 11,412 0 11,412 0 342 11,070
2007 0 0 10,841 0 10,841 0 326 10,515
2008 0 0 10,299 0 10,299 0 309 9,990
2009 0 0 9,784 0 9,784 0 293 9,491
2010 0 0 9,295 0 9,295 0 279 9,016
2011 0 0 8,831 0 8,831 0 265 8,566
2012 0 0 8,388 0 8,388 0 252 8,136
2013 0 0 7,970 0 7,970 0 239 7,731
2014 0 0 6,954 0 6,954 0 208 6,746
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 121,376 0 121,376 0 3,641 117,735
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 121,376 0 121,376 0 3,641 117,735
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 5,357 5,357 5,099
2004 7,200 0 0 0 7,200 5,064 10,421 4,367
2005 7,200 0 0 0 7,200 4,453 14,874 3,477
2006 7,200 0 0 0 7,200 3,870 18,744 2,736
2007 7,200 0 0 0 7,200 3,315 22,059 2,121
2008 7,200 0 0 0 7,200 2,790 24,849 1,617
2009 7,200 0 0 0 7,200 2,291 27,140 1,202
2010 7,200 0 0 0 7,200 1,816 28,956 862
2011 7,200 0 0 0 7,200 1,366 30,322 588
2012 7,200 0 0 0 7,200 936 31,258 365
2013 7,200 0 0 0 7,200 531 31,789 188
2014 6,600 0 0 0 6,600 146 31,935 47
2015 0 0 0 0 0 0 31,935 0
2016 0 0 0 0 0 0 31,935 0
2017 0 0 0 0 0 0 31,935 0
SUBTOT 85,800 0 0 0 85,800 31,935 22,669
REMAIN 0 0 0 0 0 0 31,935 0
TOTAL 85,800 0 0 0 85,800 31,935 22,669
LIFE OF EVALUATION IS 11.92 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 225
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
LAURA J. LAWSON #4 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 86,467
FINAL - 1.000000 0.875000 4.22 10.00% - 30,721
REMARKS - 15.00% - 11,870
20.00% - 4,834
25.00% - 2,034
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 1 0 0 0.524 0.00 4.22
2015 1 0 0 7 0 0 6.188 0.00 4.22
2016 1 0 0 7 0 0 5.999 0.00 4.22
2017 1 0 0 6 0 0 5.816 0.00 4.22
SUB-TOTAL 0 0 21 0 0 18.527 0.00 4.22
REMAINDER 0 0 140 0 0 122.442 0.00 4.22
TOTAL 0 0 161 0 0 140.969 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 161
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 2,213 0 2,213 0 66 2,147
2015 0 0 26,111 0 26,111 0 784 25,327
2016 0 0 25,317 0 25,317 0 759 24,558
2017 0 0 24,545 0 24,545 0 737 23,808
SUB-TOT 0 0 78,186 0 78,186 0 2,346 75,840
REMAIN 0 0 516,707 0 516,707 0 15,501 501,206
TOTAL 0 0 594,893 0 594,893 0 17,847 577,046
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 600 0 25,000 0 25,600 -23,453 -23,453 -7,129
2015 7,200 0 0 0 7,200 18,127 -5,326 5,225
2016 7,200 0 0 0 7,200 17,358 12,032 4,528
2017 7,200 0 0 0 7,200 16,608 28,640 3,923
SUBTOT 22,200 0 25,000 0 47,200 28,640 6,547
REMAIN 252,000 0 0 0 252,000 249,206 277,846 24,174
TOTAL 274,200 0 25,000 0 299,200 277,846 30,721
LIFE OF EVALUATION IS 50.00 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 226
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 15-T1S-R75E PROVED
LAURA J. LAWSON #5 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 26.90 5.00% - 257,508
FINAL - 1.000000 0.875000 26.90 10.00% - 211,114
REMARKS - 15.00% - 175,806
20.00% - 148,388
25.00% - 126,704
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 3,323 0 0 2,907 0 0.000 26.90 0.00
2005 1 2,824 0 0 2,472 0 0.000 26.90 0.00
2006 1 2,401 0 0 2,100 0 0.000 26.90 0.00
2007 1 2,040 0 0 1,786 0 0.000 26.90 0.00
2008 1 1,735 0 0 1,517 0 0.000 26.90 0.00
2009 1 1,474 0 0 1,290 0 0.000 26.90 0.00
2010 1 1,253 0 0 1,097 0 0.000 26.90 0.00
2011 1 1,065 0 0 932 0 0.000 26.90 0.00
2012 1 906 0 0 792 0 0.000 26.90 0.00
2013 1 769 0 0 673 0 0.000 26.90 0.00
2014 1 654 0 0 573 0 0.000 26.90 0.00
2015 1 556 0 0 486 0 0.000 26.90 0.00
2016 1 473 0 0 414 0 0.000 26.90 0.00
2017 1 107 0 0 93 0 0.000 26.90 0.00
SUB-TOTAL 19,580 0 0 17,132 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 19,580 0 0 17,132 0 0.000 26.90 0.00
CUMULATIVE 0 0 0
ULTIMATE 19,580 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 78,208 0 0 0 78,208 2,346 0 75,862
2005 66,476 0 0 0 66,476 1,995 0 64,481
2006 56,506 0 0 0 56,506 1,695 0 54,811
2007 48,029 0 0 0 48,029 1,441 0 46,588
2008 40,825 0 0 0 40,825 1,224 0 39,601
2009 34,701 0 0 0 34,701 1,041 0 33,660
2010 29,496 0 0 0 29,496 885 0 28,611
2011 25,072 0 0 0 25,072 752 0 24,320
2012 21,311 0 0 0 21,311 640 0 20,671
2013 18,114 0 0 0 18,114 543 0 17,571
2014 15,397 0 0 0 15,397 462 0 14,935
2015 13,088 0 0 0 13,088 393 0 12,695
2016 11,124 0 0 0 11,124 333 0 10,791
2017 2,510 0 0 0 2,510 76 0 2,434
SUB-TOT 460,857 0 0 0 460,857 13,826 0 447,031
REMAIN 0 0 0 0 0 0 0 0
TOTAL 460,857 0 0 0 460,857 13,826 0 447,031
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 9,600 0 0 0 9,600 66,262 66,262 57,179
2005 9,600 0 0 0 9,600 54,881 121,143 42,870
2006 9,600 0 0 0 9,600 45,211 166,354 31,971
2007 9,600 0 0 0 9,600 36,988 203,342 23,678
2008 9,600 0 0 0 9,600 30,001 233,343 17,387
2009 9,600 0 0 0 9,600 24,060 257,403 12,623
2010 9,600 0 0 0 9,600 19,011 276,414 9,030
2011 9,600 0 0 0 9,600 14,720 291,134 6,330
2012 9,600 0 0 0 9,600 11,071 302,205 4,311
2013 9,600 0 0 0 9,600 7,971 310,176 2,811
2014 9,600 0 0 0 9,600 5,335 315,511 1,704
2015 9,600 0 0 0 9,600 3,095 318,606 897
2016 9,600 0 0 0 9,600 1,191 319,797 314
2017 2,400 0 0 0 2,400 34 319,831 9
SUBTOT 127,200 0 0 0 127,200 319,831 211,114
REMAIN 0 0 0 0 0 0 319,831 0
TOTAL 127,200 0 0 0 127,200 319,831 211,114
LIFE OF EVALUATION IS 14.25 YEARS.
FINAL PRODUCTION RATE: 35 BBLS/MO
TENGASCO, INC. TABLE 227
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.750000 4.22 5.00% - 314,899
FINAL - 1.000000 0.750000 4.22 10.00% - 239,917
REMARKS - 15.00% - 194,482
20.00% - 164,310
25.00% - 142,840
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 21 0 0 15.530 0.00 4.22
2004 1 0 0 16 0 0 12.175 0.00 4.22
2005 1 0 0 14 0 0 10.355 0.00 4.22
2006 1 0 0 12 0 0 9.168 0.00 4.22
2007 1 0 0 11 0 0 8.315 0.00 4.22
2008 1 0 0 10 0 0 7.663 0.00 4.22
2009 1 0 0 10 0 0 7.143 0.00 4.22
2010 1 0 0 9 0 0 6.717 0.00 4.22
2011 1 0 0 8 0 0 6.359 0.00 4.22
2012 1 0 0 8 0 0 6.040 0.00 4.22
2013 1 0 0 8 0 0 5.738 0.00 4.22
2014 1 0 0 7 0 0 5.451 0.00 4.22
2015 1 0 0 7 0 0 5.179 0.00 4.22
2016 1 0 0 7 0 0 4.920 0.00 4.22
2017 1 0 0 6 0 0 4.674 0.00 4.22
SUB-TOTAL 0 0 154 0 0 115.427 0.00 4.22
REMAINDER 0 0 73 0 0 54.568 0.00 4.22
TOTAL 0 0 227 0 0 169.995 0.00 4.22
CUMULATIVE 0 0 146
ULTIMATE 0 0 373
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 65,535 0 65,535 0 1,966 63,569
2004 0 0 51,377 0 51,377 0 1,541 49,836
2005 0 0 43,700 0 43,700 0 1,311 42,389
2006 0 0 38,690 0 38,690 0 1,161 37,529
2007 0 0 35,087 0 35,087 0 1,053 34,034
2008 0 0 32,336 0 32,336 0 970 31,366
2009 0 0 30,146 0 30,146 0 904 29,242
2010 0 0 28,348 0 28,348 0 851 27,497
2011 0 0 26,836 0 26,836 0 805 26,031
2012 0 0 25,489 0 25,489 0 764 24,725
2013 0 0 24,215 0 24,215 0 727 23,488
2014 0 0 23,004 0 23,004 0 690 22,314
2015 0 0 21,854 0 21,854 0 656 21,198
2016 0 0 20,762 0 20,762 0 622 20,140
2017 0 0 19,723 0 19,723 0 592 19,131
SUB-TOT 0 0 487,102 0 487,102 0 14,613 472,489
REMAIN 0 0 230,277 0 230,277 0 6,908 223,369
TOTAL 0 0 717,379 0 717,379 0 21,521 695,858
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 56,369 56,369 53,807
2004 7,200 0 0 0 7,200 42,636 99,005 36,802
2005 7,200 0 0 0 7,200 35,189 134,194 27,483
2006 7,200 0 0 0 7,200 30,329 164,523 21,436
2007 7,200 0 0 0 7,200 26,834 191,357 17,165
2008 7,200 0 0 0 7,200 24,166 215,523 13,991
2009 7,200 0 0 0 7,200 22,042 237,565 11,551
2010 7,200 0 0 0 7,200 20,297 257,862 9,628
2011 7,200 0 0 0 7,200 18,831 276,693 8,085
2012 7,200 0 0 0 7,200 17,525 294,218 6,811
2013 7,200 0 0 0 7,200 16,288 310,506 5,730
2014 7,200 0 0 0 7,200 15,114 325,620 4,814
2015 7,200 0 0 0 7,200 13,998 339,618 4,036
2016 7,200 0 0 0 7,200 12,940 352,558 3,377
2017 7,200 0 0 0 7,200 11,931 364,489 2,818
SUBTOT 108,000 0 0 0 108,000 364,489 227,534
REMAIN 133,800 0 0 0 133,800 89,569 454,058 12,383
TOTAL 241,800 0 0 0 241,800 454,058 239,917
LIFE OF EVALUATION IS 33.58 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 228
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #2 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 40,827 0 0
ULTIMATE 40,827 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 229
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #2 BP (TRTN-SR) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.750000 4.22 5.00% - 233,106
FINAL - 1.000000 0.750000 4.22 10.00% - 210,874
REMARKS - 15.00% - 191,673
20.00% - 175,008
25.00% - 160,475
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 31 0 0 23.545 0.00 4.22
2004 1 0 0 24 0 0 17.804 0.00 4.22
2005 1 0 0 19 0 0 13.957 0.00 4.22
2006 1 0 0 15 0 0 11.249 0.00 4.22
2007 1 0 0 12 0 0 9.269 0.00 4.22
2008 1 0 0 2 0 0 1.423 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 103 0 0 77.247 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 103 0 0 77.247 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 103
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 99,358 0 99,358 0 2,981 96,377
2004 0 0 75,135 0 75,135 0 2,254 72,881
2005 0 0 58,899 0 58,899 0 1,767 57,132
2006 0 0 47,471 0 47,471 0 1,424 46,047
2007 0 0 39,114 0 39,114 0 1,173 37,941
2008 0 0 6,007 0 6,007 0 181 5,826
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 325,984 0 325,984 0 9,780 316,204
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 325,984 0 325,984 0 9,780 316,204
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 20,000 0 27,200 69,177 69,177 65,190
2004 7,200 0 0 0 7,200 65,681 134,858 56,724
2005 7,200 0 0 0 7,200 49,932 184,790 39,027
2006 7,200 0 0 0 7,200 38,847 223,637 27,481
2007 7,200 0 0 0 7,200 30,741 254,378 19,683
2008 1,230 0 0 0 1,230 4,596 258,974 2,769
2009 0 0 0 0 0 0 258,974 0
2010 0 0 0 0 0 0 258,974 0
2011 0 0 0 0 0 0 258,974 0
2012 0 0 0 0 0 0 258,974 0
2013 0 0 0 0 0 0 258,974 0
2014 0 0 0 0 0 0 258,974 0
2015 0 0 0 0 0 0 258,974 0
2016 0 0 0 0 0 0 258,974 0
2017 0 0 0 0 0 0 258,974 0
SUBTOT 37,230 0 20,000 0 57,230 258,974 210,874
REMAIN 0 0 0 0 0 0 258,974 0
TOTAL 37,230 0 20,000 0 57,230 258,974 210,874
LIFE OF EVALUATION IS 5.17 YEARS.
FINAL PRODUCTION RATE: 0.9 MMCF/MO
TENGASCO, INC. TABLE 230
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 74,245
FINAL - 1.000000 0.656250 4.22 10.00% - 60,885
REMARKS - 15.00% - 51,010
20.00% - 43,530
25.00% - 37,735
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 7 0 0 4.316 0.00 4.22
2004 1 0 0 7 0 0 4.653 0.00 4.22
2005 1 0 0 7 0 0 4.780 0.00 4.22
2006 1 0 0 7 0 0 4.409 0.00 4.22
2007 1 0 0 6 0 0 4.068 0.00 4.22
2008 1 0 0 6 0 0 3.753 0.00 4.22
2009 1 0 0 5 0 0 3.462 0.00 4.22
2010 1 0 0 5 0 0 3.193 0.00 4.22
2011 1 0 0 4 0 0 2.946 0.00 4.22
2012 1 0 0 4 0 0 2.718 0.00 4.22
2013 1 0 0 4 0 0 2.507 0.00 4.22
2014 1 0 0 4 0 0 2.313 0.00 4.22
2015 1 0 0 3 0 0 2.134 0.00 4.22
2016 1 0 0 3 0 0 1.968 0.00 4.22
2017 1 0 0 2 0 0 1.670 0.00 4.22
SUB-TOTAL 0 0 74 0 0 48.890 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 74 0 0 48.890 0.00 4.22
CUMULATIVE 0 0 12
ULTIMATE 0 0 86
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 18,214 0 18,214 0 546 17,668
2004 0 0 19,637 0 19,637 0 590 19,047
2005 0 0 20,171 0 20,171 0 605 19,566
2006 0 0 18,609 0 18,609 0 558 18,051
2007 0 0 17,166 0 17,166 0 515 16,651
2008 0 0 15,835 0 15,835 0 475 15,360
2009 0 0 14,609 0 14,609 0 438 14,171
2010 0 0 13,477 0 13,477 0 405 13,072
2011 0 0 12,432 0 12,432 0 372 12,060
2012 0 0 11,469 0 11,469 0 345 11,124
2013 0 0 10,580 0 10,580 0 317 10,263
2014 0 0 9,760 0 9,760 0 293 9,467
2015 0 0 9,004 0 9,004 0 270 8,734
2016 0 0 8,306 0 8,306 0 249 8,057
2017 0 0 7,047 0 7,047 0 211 6,836
SUB-TOT 0 0 206,316 0 206,316 0 6,189 200,127
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 206,316 0 206,316 0 6,189 200,127
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 10,468 10,468 9,964
2004 7,128 0 0 0 7,128 11,919 22,387 10,237
2005 7,200 0 0 0 7,200 12,366 34,753 9,654
2006 7,200 0 0 0 7,200 10,851 45,604 7,670
2007 7,200 0 0 0 7,200 9,451 55,055 6,047
2008 7,200 0 0 0 7,200 8,160 63,215 4,726
2009 7,200 0 0 0 7,200 6,971 70,186 3,656
2010 7,200 0 0 0 7,200 5,872 76,058 2,787
2011 7,200 0 0 0 7,200 4,860 80,918 2,089
2012 7,200 0 0 0 7,200 3,924 84,842 1,527
2013 7,200 0 0 0 7,200 3,063 87,905 1,080
2014 7,200 0 0 0 7,200 2,267 90,172 723
2015 7,200 0 0 0 7,200 1,534 91,706 444
2016 7,200 0 0 0 7,200 857 92,563 225
2017 6,600 0 0 0 6,600 236 92,799 56
SUBTOT 107,328 0 0 0 107,328 92,799 60,885
REMAIN 0 0 0 0 0 0 92,799 0
TOTAL 107,328 0 0 0 107,328 92,799 60,885
LIFE OF EVALUATION IS 14.92 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 231
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 311,041
FINAL - 1.000000 0.656250 4.22 10.00% - 118,691
REMARKS - 15.00% - 47,793
20.00% - 19,966
25.00% - 8,561
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 9 0 0 6.121 0.00 4.22
SUB-TOTAL 0 0 9 0 0 6.121 0.00 4.22
REMAINDER 0 0 393 0 0 257.692 0.00 4.22
TOTAL 0 0 402 0 0 263.813 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 402
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 25,829 0 25,829 0 775 25,054
SUB-TOT 0 0 25,829 0 25,829 0 775 25,054
REMAIN 0 0 1,087,460 0 1,087,460 0 32,624 1,054,836
TOTAL 0 0 1,113,289 0 1,113,289 0 33,399 1,079,890
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 600 0 20,000 0 20,600 4,454 4,454 1,004
SUBTOT 600 0 20,000 0 20,600 4,454 1,004
REMAIN 177,122 0 0 0 177,122 877,714 882,168 117,687
TOTAL 177,722 0 20,000 0 197,722 882,168 118,691
LIFE OF EVALUATION IS 39.60 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 232
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #3 BP2 (TRENTON) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 3,634
FINAL - 1.000000 0.656250 4.22 10.00% - 477
REMARKS - 15.00% - 63
20.00% - 8
25.00% - 1
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 22 0 0 14.438 0.00 4.22
TOTAL 0 0 22 0 0 14.438 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 22
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 60,930 0 60,930 0 1,828 59,102
TOTAL 0 0 60,930 0 60,930 0 1,828 59,102
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 11,218 0 20,000 0 31,218 27,884 27,884 477
TOTAL 11,218 0 20,000 0 31,218 27,884 477
LIFE OF EVALUATION IS 41.22 YEARS.
FINAL PRODUCTION RATE: 0.9 MMCF/MO
TENGASCO, INC. TABLE 233
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,100,244
FINAL - 1.000000 0.875000 4.22 10.00% - 815,813
REMARKS - 15.00% - 656,182
20.00% - 554,121
25.00% - 482,688
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 57 0 0 49.802 0.00 4.22
2004 1 0 0 42 0 0 37.215 0.00 4.22
2005 1 0 0 35 0 0 30.443 0.00 4.22
2006 1 0 0 30 0 0 26.103 0.00 4.22
2007 1 0 0 26 0 0 23.042 0.00 4.22
2008 1 0 0 24 0 0 20.746 0.00 4.22
2009 1 0 0 22 0 0 18.948 0.00 4.22
2010 1 0 0 20 0 0 17.496 0.00 4.22
2011 1 0 0 18 0 0 16.293 0.00 4.22
2012 1 0 0 18 0 0 15.278 0.00 4.22
2013 1 0 0 16 0 0 14.408 0.00 4.22
2014 1 0 0 16 0 0 13.652 0.00 4.22
2015 1 0 0 15 0 0 12.988 0.00 4.22
2016 1 0 0 14 0 0 12.399 0.00 4.22
2017 1 0 0 13 0 0 11.873 0.00 4.22
SUB-TOTAL 0 0 366 0 0 320.686 0.00 4.22
REMAINDER 0 0 179 0 0 156.240 0.00 4.22
TOTAL 0 0 545 0 0 476.926 0.00 4.22
CUMULATIVE 0 0 303
ULTIMATE 0 0 848
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 210,165 0 210,165 0 6,305 203,860
2004 0 0 157,047 0 157,047 0 4,711 152,336
2005 0 0 128,468 0 128,468 0 3,854 124,614
2006 0 0 110,154 0 110,154 0 3,305 106,849
2007 0 0 97,237 0 97,237 0 2,917 94,320
2008 0 0 87,547 0 87,547 0 2,627 84,920
2009 0 0 79,962 0 79,962 0 2,398 77,564
2010 0 0 73,833 0 73,833 0 2,215 71,618
2011 0 0 68,758 0 68,758 0 2,063 66,695
2012 0 0 64,475 0 64,475 0 1,934 62,541
2013 0 0 60,802 0 60,802 0 1,824 58,978
2014 0 0 57,612 0 57,612 0 1,729 55,883
2015 0 0 54,809 0 54,809 0 1,644 53,165
2016 0 0 52,325 0 52,325 0 1,570 50,755
2017 0 0 50,104 0 50,104 0 1,503 48,601
SUB-TOT 0 0 1,353,298 0 1,353,298 0 40,599 1,312,699
REMAIN 0 0 659,331 0 659,331 0 19,780 639,551
TOTAL 0 0 2,012,629 0 2,012,629 0 60,379 1,952,250
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 196,660 196,660 187,761
2004 7,200 0 0 0 7,200 145,136 341,796 125,301
2005 7,200 0 0 0 7,200 117,414 459,210 91,712
2006 7,200 0 0 0 7,200 99,649 558,859 70,437
2007 7,200 0 0 0 7,200 87,120 645,979 55,733
2008 7,200 0 0 0 7,200 77,720 723,699 45,001
2009 7,200 0 0 0 7,200 70,364 794,063 36,876
2010 7,200 0 0 0 7,200 64,418 858,481 30,557
2011 7,200 0 0 0 7,200 59,495 917,976 25,545
2012 7,200 0 0 0 7,200 55,341 973,317 21,508
2013 7,200 0 0 0 7,200 51,778 1,025,095 18,215
2014 7,200 0 0 0 7,200 48,683 1,073,778 15,503
2015 7,200 0 0 0 7,200 45,965 1,119,743 13,249
2016 7,200 0 0 0 7,200 43,555 1,163,298 11,364
2017 7,200 0 0 0 7,200 41,401 1,204,699 9,778
SUBTOT 108,000 0 0 0 108,000 1,204,699 758,540
REMAIN 140,252 0 0 0 140,252 499,299 1,703,998 57,273
TOTAL 248,252 0 0 0 248,252 1,703,998 815,813
LIFE OF EVALUATION IS 34.48 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 234
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 332,366
FINAL - 1.000000 0.875000 4.22 10.00% - 49,493
REMARKS - 15.00% - 7,669
20.00% - 1,227
25.00% - 202
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 691 0 0 604.340 0.00 4.22
TOTAL 0 0 691 0 0 604.340 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 691
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 2,550,314 0 2,550,314 0 76,509 2,473,805
TOTAL 0 0 2,550,314 0 2,550,314 0 76,509 2,473,805
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 111,600 0 20,000 0 131,600 2,342,205 2,342,205 49,493
TOTAL 111,600 0 20,000 0 131,600 2,342,205 49,493
LIFE OF EVALUATION IS 50.00 YEARS.
FINAL PRODUCTION RATE: 1.7 MMCF/MO
TENGASCO, INC. TABLE 235
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #4 BP2 (TRENTON) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 49.92 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 236
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #5 (STONES RIVER) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 26.90 5.00% - 647,082
FINAL - 1.000000 0.875000 26.90 10.00% - 566,283
REMARKS - 15.00% - 502,269
20.00% - 450,628
25.00% - 408,283
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 8,381 0 0 7,334 0 0.000 26.90 0.00
2004 1 6,638 0 0 5,808 0 0.000 26.90 0.00
2005 1 5,258 0 0 4,601 0 0.000 26.90 0.00
2006 1 4,165 0 0 3,644 0 0.000 26.90 0.00
2007 1 3,299 0 0 2,886 0 0.000 26.90 0.00
2008 1 2,612 0 0 2,286 0 0.000 26.90 0.00
2009 1 2,070 0 0 1,811 0 0.000 26.90 0.00
2010 1 1,639 0 0 1,434 0 0.000 26.90 0.00
2011 1 1,298 0 0 1,136 0 0.000 26.90 0.00
2012 1 1,028 0 0 900 0 0.000 26.90 0.00
2013 1 815 0 0 712 0 0.000 26.90 0.00
2014 1 645 0 0 565 0 0.000 26.90 0.00
2015 1 511 0 0 447 0 0.000 26.90 0.00
2016 1 145 0 0 127 0 0.000 26.90 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 38,504 0 0 33,691 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 38,504 0 0 33,691 0 0.000 26.90 0.00
CUMULATIVE 59,969 0 0
ULTIMATE 98,473 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 197,271 0 0 0 197,271 5,918 0 191,353
2004 156,250 0 0 0 156,250 4,688 0 151,562
2005 123,759 0 0 0 123,759 3,712 0 120,047
2006 98,023 0 0 0 98,023 2,941 0 95,082
2007 77,640 0 0 0 77,640 2,329 0 75,311
2008 61,495 0 0 0 61,495 1,845 0 59,650
2009 48,708 0 0 0 48,708 1,461 0 47,247
2010 38,579 0 0 0 38,579 1,158 0 37,421
2011 30,557 0 0 0 30,557 916 0 29,641
2012 24,203 0 0 0 24,203 727 0 23,476
2013 19,169 0 0 0 19,169 575 0 18,594
2014 15,184 0 0 0 15,184 455 0 14,729
2015 12,026 0 0 0 12,026 361 0 11,665
2016 3,425 0 0 0 3,425 103 0 3,322
2017 0 0 0 0 0 0 0 0
SUB-TOT 906,289 0 0 0 906,289 27,189 0 879,100
REMAIN 0 0 0 0 0 0 0 0
TOTAL 906,289 0 0 0 906,289 27,189 0 879,100
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 9,600 0 0 0 9,600 181,753 181,753 173,345
2004 9,600 0 0 0 9,600 141,962 323,715 122,565
2005 9,600 0 0 0 9,600 110,447 434,162 86,320
2006 9,600 0 0 0 9,600 85,482 519,644 60,480
2007 9,600 0 0 0 9,600 65,711 585,355 42,087
2008 9,600 0 0 0 9,600 50,050 635,405 29,020
2009 9,600 0 0 0 9,600 37,647 673,052 19,762
2010 9,600 0 0 0 9,600 27,821 700,873 13,222
2011 9,600 0 0 0 9,600 20,041 720,914 8,624
2012 9,600 0 0 0 9,600 13,876 734,790 5,407
2013 9,600 0 0 0 9,600 8,994 743,784 3,175
2014 9,600 0 0 0 9,600 5,129 748,913 1,642
2015 9,600 0 0 0 9,600 2,065 750,978 601
2016 3,200 0 0 0 3,200 122 751,100 33
2017 0 0 0 0 0 0 751,100 0
SUBTOT 128,000 0 0 0 128,000 751,100 566,283
REMAIN 0 0 0 0 0 0 751,100 0
TOTAL 128,000 0 0 0 128,000 751,100 566,283
LIFE OF EVALUATION IS 13.33 YEARS.
FINAL PRODUCTION RATE: 35 BBLS/MO
TENGASCO, INC. TABLE 237
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75 PROVED
PAUL REED #6 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 83,961
FINAL - 1.000000 0.875000 4.22 10.00% - 72,123
REMARKS - 15.00% - 63,201
20.00% - 56,281
25.00% - 50,779
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 9 0 0 7.563 0.00 4.22
2004 1 0 0 6 0 0 5.801 0.00 4.22
2005 1 0 0 6 0 0 4.805 0.00 4.22
2006 1 0 0 5 0 0 4.150 0.00 4.22
2007 1 0 0 4 0 0 3.682 0.00 4.22
2008 1 0 0 4 0 0 3.326 0.00 4.22
2009 1 0 0 3 0 0 3.046 0.00 4.22
2010 1 0 0 3 0 0 2.818 0.00 4.22
2011 1 0 0 3 0 0 2.629 0.00 4.22
2012 1 0 0 3 0 0 2.468 0.00 4.22
2013 1 0 0 3 0 0 2.330 0.00 4.22
2014 1 0 0 2 0 0 2.210 0.00 4.22
2015 1 0 0 3 0 0 2.099 0.00 4.22
2016 1 0 0 2 0 0 1.994 0.00 4.22
2017 1 0 0 2 0 0 1.894 0.00 4.22
SUB-TOTAL 0 0 58 0 0 50.815 0.00 4.22
REMAINDER 0 0 2 0 0 1.653 0.00 4.22
TOTAL 0 0 60 0 0 52.468 0.00 4.22
CUMULATIVE 0 0 38
ULTIMATE 0 0 98
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 31,914 0 31,914 0 957 30,957
2004 0 0 24,479 0 24,479 0 735 23,744
2005 0 0 20,276 0 20,276 0 608 19,668
2006 0 0 17,515 0 17,515 0 526 16,989
2007 0 0 15,536 0 15,536 0 466 15,070
2008 0 0 14,037 0 14,037 0 421 13,616
2009 0 0 12,854 0 12,854 0 385 12,469
2010 0 0 11,893 0 11,893 0 357 11,536
2011 0 0 11,094 0 11,094 0 333 10,761
2012 0 0 10,415 0 10,415 0 312 10,103
2013 0 0 9,834 0 9,834 0 295 9,539
2014 0 0 9,325 0 9,325 0 280 9,045
2015 0 0 8,858 0 8,858 0 266 8,592
2016 0 0 8,415 0 8,415 0 252 8,163
2017 0 0 7,994 0 7,994 0 240 7,754
SUB-TOT 0 0 214,439 0 214,439 0 6,433 208,006
REMAIN 0 0 6,977 0 6,977 0 209 6,768
TOTAL 0 0 221,416 0 221,416 0 6,642 214,774
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 23,757 23,757 22,691
2004 7,200 0 0 0 7,200 16,544 40,301 14,290
2005 7,200 0 0 0 7,200 12,468 52,769 9,745
2006 7,200 0 0 0 7,200 9,789 62,558 6,924
2007 7,200 0 0 0 7,200 7,870 70,428 5,038
2008 7,200 0 0 0 7,200 6,416 76,844 3,718
2009 7,200 0 0 0 7,200 5,269 82,113 2,764
2010 7,200 0 0 0 7,200 4,336 86,449 2,059
2011 7,200 0 0 0 7,200 3,561 90,010 1,530
2012 7,200 0 0 0 7,200 2,903 92,913 1,130
2013 7,200 0 0 0 7,200 2,339 95,252 823
2014 7,200 0 0 0 7,200 1,845 97,097 589
2015 7,200 0 0 0 7,200 1,392 98,489 402
2016 7,200 0 0 0 7,200 963 99,452 252
2017 7,200 0 0 0 7,200 554 100,006 132
SUBTOT 108,000 0 0 0 108,000 100,006 72,087
REMAIN 6,600 0 0 0 6,600 168 100,174 36
TOTAL 114,600 0 0 0 114,600 100,174 72,123
LIFE OF EVALUATION IS 15.92 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 238
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #6 BP (STONES RIVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 26.90 5.00% - 92,259
FINAL - 1.000000 0.875000 26.90 10.00% - 38,409
REMARKS - 15.00% - 16,086
20.00% - 6,777
25.00% - 2,871
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 11,697 0 0 10,235 0 0.000 26.90 0.00
TOTAL 11,697 0 0 10,235 0 0.000 26.90 0.00
CUMULATIVE 0 0 0
ULTIMATE 11,697 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 275,328 0 0 0 275,328 8,260 0 267,068
TOTAL 275,328 0 0 0 275,328 8,260 0 267,068
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 34,123 0 10,000 0 44,123 222,945 222,945 38,409
TOTAL 34,123 0 10,000 0 44,123 222,945 38,409
LIFE OF EVALUATION IS 19.47 YEARS.
FINAL PRODUCTION RATE: 250 BBLS/MO
TENGASCO, INC. TABLE 239
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 606,652
FINAL - 1.000000 0.875000 4.22 10.00% - 436,842
REMARKS - 15.00% - 341,799
20.00% - 281,649
25.00% - 240,207
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 25 0 0 21.830 0.00 4.22
2004 1 0 0 21 0 0 18.815 0.00 4.22
2005 1 0 0 20 0 0 16.790 0.00 4.22
2006 1 0 0 17 0 0 15.309 0.00 4.22
2007 1 0 0 16 0 0 14.164 0.00 4.22
2008 1 0 0 15 0 0 13.245 0.00 4.22
2009 1 0 0 15 0 0 12.485 0.00 4.22
2010 1 0 0 13 0 0 11.839 0.00 4.22
2011 1 0 0 13 0 0 11.247 0.00 4.22
2012 1 0 0 12 0 0 10.685 0.00 4.22
2013 1 0 0 12 0 0 10.151 0.00 4.22
2014 1 0 0 11 0 0 9.643 0.00 4.22
2015 1 0 0 10 0 0 9.161 0.00 4.22
2016 1 0 0 10 0 0 8.703 0.00 4.22
2017 1 0 0 10 0 0 8.268 0.00 4.22
SUB-TOTAL 0 0 220 0 0 192.335 0.00 4.22
REMAINDER 0 0 140 0 0 122.789 0.00 4.22
TOTAL 0 0 360 0 0 315.124 0.00 4.22
CUMULATIVE 0 0 128
ULTIMATE 0 0 488
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 92,123 0 92,123 0 2,764 89,359
2004 0 0 79,397 0 79,397 0 2,382 77,015
2005 0 0 70,853 0 70,853 0 2,125 68,728
2006 0 0 64,602 0 64,602 0 1,938 62,664
2007 0 0 59,772 0 59,772 0 1,793 57,979
2008 0 0 55,892 0 55,892 0 1,677 54,215
2009 0 0 52,686 0 52,686 0 1,581 51,105
2010 0 0 49,963 0 49,963 0 1,499 48,464
2011 0 0 47,463 0 47,463 0 1,424 46,039
2012 0 0 45,091 0 45,091 0 1,352 43,739
2013 0 0 42,835 0 42,835 0 1,285 41,550
2014 0 0 40,694 0 40,694 0 1,221 39,473
2015 0 0 38,660 0 38,660 0 1,160 37,500
2016 0 0 36,726 0 36,726 0 1,102 35,624
2017 0 0 34,890 0 34,890 0 1,046 33,844
SUB-TOT 0 0 811,647 0 811,647 0 24,349 787,298
REMAIN 0 0 518,171 0 518,171 0 15,546 502,625
TOTAL 0 0 1,329,818 0 1,329,818 0 39,895 1,289,923
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 82,159 82,159 78,321
2004 7,200 0 0 0 7,200 69,815 151,974 60,223
2005 7,200 0 0 0 7,200 61,528 213,502 48,032
2006 7,200 0 0 0 7,200 55,464 268,966 39,188
2007 7,200 0 0 0 7,200 50,779 319,745 32,474
2008 7,200 0 0 0 7,200 47,015 366,760 27,214
2009 7,200 0 0 0 7,200 43,905 410,665 23,004
2010 7,200 0 0 0 7,200 41,264 451,929 19,570
2011 7,200 0 0 0 7,200 38,839 490,768 16,675
2012 7,200 0 0 0 7,200 36,539 527,307 14,199
2013 7,200 0 0 0 7,200 34,350 561,657 12,084
2014 7,200 0 0 0 7,200 32,273 593,930 10,277
2015 7,200 0 0 0 7,200 30,300 624,230 8,735
2016 7,200 0 0 0 7,200 28,424 652,654 7,417
2017 7,200 0 0 0 7,200 26,644 679,298 6,293
SUBTOT 108,000 0 0 0 108,000 679,298 403,706
REMAIN 213,600 0 0 0 213,600 289,025 968,323 33,136
TOTAL 321,600 0 0 0 321,600 968,323 436,842
LIFE OF EVALUATION IS 44.67 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 240
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 45,976
FINAL - 1.000000 0.875000 4.22 10.00% - 4,542
REMARKS - 15.00% - 455
20.00% - 46
25.00% - 5
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 148 0 0 129.702 0.00 4.22
TOTAL 0 0 148 0 0 129.702 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 148
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 547,342 0 547,342 0 16,420 530,922
TOTAL 0 0 547,342 0 547,342 0 16,420 530,922
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 38,400 0 20,000 0 58,400 472,522 472,522 4,542
TOTAL 38,400 0 20,000 0 58,400 472,522 4,542
LIFE OF EVALUATION IS 50.00 YEARS.
FINAL PRODUCTION RATE: 1.4 MMCF/MO
TENGASCO, INC. TABLE 241
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
PAUL REED #7 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 49.92 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 242
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #8 (TRENTON-STONES RIVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 26.90 5.00% - 689,965
FINAL - 1.000000 0.875000 26.90 10.00% - 642,078
REMARKS - 15.00% - 599,805
20.00% - 562,304
25.00% - 528,877
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 15,232 0 0 13,328 0 0.000 26.90 0.00
2004 1 8,921 0 0 7,805 0 0.000 26.90 0.00
2005 1 5,224 0 0 4,572 0 0.000 26.90 0.00
2006 1 3,060 0 0 2,677 0 0.000 26.90 0.00
2007 1 1,792 0 0 1,568 0 0.000 26.90 0.00
2008 1 739 0 0 647 0 0.000 26.90 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 34,968 0 0 30,597 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 34,968 0 0 30,597 0 0.000 26.90 0.00
CUMULATIVE 6,919 0 0
ULTIMATE 41,887 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 358,519 0 0 0 358,519 10,756 0 347,763
2004 209,972 0 0 0 209,972 6,299 0 203,673
2005 122,973 0 0 0 122,973 3,689 0 119,284
2006 72,020 0 0 0 72,020 2,161 0 69,859
2007 42,180 0 0 0 42,180 1,265 0 40,915
2008 17,387 0 0 0 17,387 522 0 16,865
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 823,051 0 0 0 823,051 24,692 0 798,359
REMAIN 0 0 0 0 0 0 0 0
TOTAL 823,051 0 0 0 823,051 24,692 0 798,359
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,000 0 20,000 0 26,000 321,763 321,763 306,832
2004 6,000 0 0 0 6,000 197,673 519,436 171,085
2005 6,000 0 0 0 6,000 113,284 632,720 88,762
2006 6,000 0 0 0 6,000 63,859 696,579 45,301
2007 6,000 0 0 0 6,000 34,915 731,494 22,428
2008 3,867 0 0 0 3,867 12,998 744,492 7,670
2009 0 0 0 0 0 0 744,492 0
2010 0 0 0 0 0 0 744,492 0
2011 0 0 0 0 0 0 744,492 0
2012 0 0 0 0 0 0 744,492 0
2013 0 0 0 0 0 0 744,492 0
2014 0 0 0 0 0 0 744,492 0
2015 0 0 0 0 0 0 744,492 0
2016 0 0 0 0 0 0 744,492 0
2017 0 0 0 0 0 0 744,492 0
SUBTOT 33,867 0 20,000 0 53,867 744,492 642,078
REMAIN 0 0 0 0 0 0 744,492 0
TOTAL 33,867 0 20,000 0 53,867 744,492 642,078
LIFE OF EVALUATION IS 5.64 YEARS.
FINAL PRODUCTION RATE: 81 BBLS/MO
TENGASCO, INC. TABLE 243
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #8 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 649,498
FINAL - 1.000000 0.875000 4.22 10.00% - 365,999
REMARKS - 15.00% - 220,582
20.00% - 139,373
25.00% - 91,013
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 17 0 0 14.909 0.00 4.22
2009 1 0 0 41 0 0 36.004 0.00 4.22
2010 1 0 0 32 0 0 28.273 0.00 4.22
2011 1 0 0 28 0 0 23.701 0.00 4.22
2012 1 0 0 23 0 0 20.623 0.00 4.22
2013 1 0 0 21 0 0 18.384 0.00 4.22
2014 1 0 0 19 0 0 16.669 0.00 4.22
2015 1 0 0 18 0 0 15.305 0.00 4.22
2016 1 0 0 16 0 0 14.190 0.00 4.22
2017 1 0 0 15 0 0 13.258 0.00 4.22
SUB-TOTAL 0 0 230 0 0 201.316 0.00 4.22
REMAINDER 0 0 172 0 0 150.495 0.00 4.22
TOTAL 0 0 402 0 0 351.811 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 402
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 62,914 0 62,914 0 1,887 61,027
2009 0 0 151,939 0 151,939 0 4,559 147,380
2010 0 0 119,312 0 119,312 0 3,579 115,733
2011 0 0 100,020 0 100,020 0 3,001 97,019
2012 0 0 87,031 0 87,031 0 2,610 84,421
2013 0 0 77,582 0 77,582 0 2,328 75,254
2014 0 0 70,342 0 70,342 0 2,110 68,232
2015 0 0 64,588 0 64,588 0 1,938 62,650
2016 0 0 59,883 0 59,883 0 1,796 58,087
2017 0 0 55,950 0 55,950 0 1,679 54,271
SUB-TOT 0 0 849,561 0 849,561 0 25,487 824,074
REMAIN 0 0 635,089 0 635,089 0 19,052 616,037
TOTAL 0 0 1,484,650 0 1,484,650 0 44,539 1,440,111
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 2,400 0 20,000 0 22,400 38,627 38,627 21,480
2009 7,200 0 0 0 7,200 140,180 178,807 73,592
2010 7,200 0 0 0 7,200 108,533 287,340 51,539
2011 7,200 0 0 0 7,200 89,819 377,159 38,594
2012 7,200 0 0 0 7,200 77,221 454,380 30,029
2013 7,200 0 0 0 7,200 68,054 522,434 23,951
2014 7,200 0 0 0 7,200 61,032 583,466 19,441
2015 7,200 0 0 0 7,200 55,450 638,916 15,988
2016 7,200 0 0 0 7,200 50,887 689,803 13,280
2017 7,200 0 0 0 7,200 47,071 736,874 11,120
SUBTOT 67,200 0 20,000 0 87,200 736,874 299,014
REMAIN 90,541 0 0 0 90,541 525,496 1,262,370 66,985
TOTAL 157,741 0 20,000 0 177,741 1,262,370 365,999
LIFE OF EVALUATION IS 27.58 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 244
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
PAUL REED #9 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,272,478
FINAL - 1.000000 0.875000 4.22 10.00% - 891,240
REMARKS - 15.00% - 682,526
20.00% - 550,125
25.00% - 457,477
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 80 0 0 70.363 0.00 4.22
2004 1 0 0 57 0 0 49.636 0.00 4.22
2005 1 0 0 45 0 0 39.603 0.00 4.22
2006 1 0 0 39 0 0 33.484 0.00 4.22
2007 1 0 0 33 0 0 29.292 0.00 4.22
2008 1 0 0 30 0 0 26.207 0.00 4.22
2009 1 0 0 27 0 0 23.825 0.00 4.22
2010 1 0 0 25 0 0 21.920 0.00 4.22
2011 1 0 0 24 0 0 20.356 0.00 4.22
2012 1 0 0 21 0 0 19.044 0.00 4.22
2013 1 0 0 21 0 0 17.925 0.00 4.22
2014 1 0 0 19 0 0 16.957 0.00 4.22
2015 1 0 0 19 0 0 16.099 0.00 4.22
2016 1 0 0 17 0 0 15.294 0.00 4.22
2017 1 0 0 17 0 0 14.529 0.00 4.22
SUB-TOTAL 0 0 474 0 0 414.534 0.00 4.22
REMAINDER 0 0 242 0 0 211.839 0.00 4.22
TOTAL 0 0 716 0 0 626.373 0.00 4.22
CUMULATIVE 0 0 43
ULTIMATE 0 0 759
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 296,933 0 296,933 0 8,908 288,025
2004 0 0 209,462 0 209,462 0 6,284 203,178
2005 0 0 167,127 0 167,127 0 5,014 162,113
2006 0 0 141,304 0 141,304 0 4,239 137,065
2007 0 0 123,611 0 123,611 0 3,708 119,903
2008 0 0 110,594 0 110,594 0 3,318 107,276
2009 0 0 100,542 0 100,542 0 3,016 97,526
2010 0 0 92,504 0 92,504 0 2,775 89,729
2011 0 0 85,902 0 85,902 0 2,577 83,325
2012 0 0 80,365 0 80,365 0 2,411 77,954
2013 0 0 75,642 0 75,642 0 2,270 73,372
2014 0 0 71,558 0 71,558 0 2,146 69,412
2015 0 0 67,937 0 67,937 0 2,038 65,899
2016 0 0 64,541 0 64,541 0 1,937 62,604
2017 0 0 61,313 0 61,313 0 1,839 59,474
SUB-TOT 0 0 1,749,335 0 1,749,335 0 52,480 1,696,855
REMAIN 0 0 893,959 0 893,959 0 26,819 867,140
TOTAL 0 0 2,643,294 0 2,643,294 0 79,299 2,563,995
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 200,000 0 207,200 80,825 80,825 69,138
2004 7,200 0 0 0 7,200 195,978 276,803 169,239
2005 7,200 0 0 0 7,200 154,913 431,716 121,019
2006 7,200 0 0 0 7,200 129,865 561,581 91,802
2007 7,200 0 0 0 7,200 112,703 674,284 72,103
2008 7,200 0 0 0 7,200 100,076 774,360 57,947
2009 7,200 0 0 0 7,200 90,326 864,686 47,338
2010 7,200 0 0 0 7,200 82,529 947,215 39,149
2011 7,200 0 0 0 7,200 76,125 1,023,340 32,686
2012 7,200 0 0 0 7,200 70,754 1,094,094 27,498
2013 7,200 0 0 0 7,200 66,172 1,160,266 23,279
2014 7,200 0 0 0 7,200 62,212 1,222,478 19,810
2015 7,200 0 0 0 7,200 58,699 1,281,177 16,920
2016 7,200 0 0 0 7,200 55,404 1,336,581 14,457
2017 7,200 0 0 0 7,200 52,274 1,388,855 12,346
SUBTOT 108,000 0 200,000 0 308,000 1,388,855 814,731
REMAIN 133,158 0 0 0 133,158 733,982 2,122,837 76,509
TOTAL 241,158 0 200,000 0 441,158 2,122,837 891,240
LIFE OF EVALUATION IS 33.49 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 245
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
PURKEY #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 543
FINAL - 0.500000 0.437500 4.22 10.00% - 526
REMARKS - 15.00% - 509
20.00% - 493
25.00% - 478
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 2 0 0 0.981 0.00 4.22
2004 1 0 0 2 0 0 0.915 0.00 4.22
2005 1 0 0 1 0 0 0.073 0.00 4.22
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 5 0 0 1.969 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 5 0 0 1.969 0.00 4.22
CUMULATIVE 0 0 13
ULTIMATE 0 0 18
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 4,139 0 4,139 0 124 4,015
2004 0 0 3,862 0 3,862 0 116 3,746
2005 0 0 310 0 310 0 9 301
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 8,311 0 8,311 0 249 8,062
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 8,311 0 8,311 0 249 8,062
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 0 0 3,600 415 415 397
2004 3,600 0 0 0 3,600 146 561 128
2005 300 0 0 0 300 1 562 1
2006 0 0 0 0 0 0 562 0
2007 0 0 0 0 0 0 562 0
2008 0 0 0 0 0 0 562 0
2009 0 0 0 0 0 0 562 0
2010 0 0 0 0 0 0 562 0
2011 0 0 0 0 0 0 562 0
2012 0 0 0 0 0 0 562 0
2013 0 0 0 0 0 0 562 0
2014 0 0 0 0 0 0 562 0
2015 0 0 0 0 0 0 562 0
2016 0 0 0 0 0 0 562 0
2017 0 0 0 0 0 0 562 0
SUBTOT 7,500 0 0 0 7,500 562 526
REMAIN 0 0 0 0 0 0 562 0
TOTAL 7,500 0 0 0 7,500 562 526
LIFE OF EVALUATION IS 2.08 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 246
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #2 (TRENTON) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 2
ULTIMATE 0 0 2
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 247
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 114,850
FINAL - 0.500000 0.437500 4.22 10.00% - 88,574
REMARKS - 15.00% - 72,386
20.00% - 61,479
25.00% - 53,623
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 14 0 0 5.981 0.00 4.22
2004 1 0 0 11 0 0 4.909 0.00 4.22
2005 1 0 0 10 0 0 4.217 0.00 4.22
2006 1 0 0 8 0 0 3.727 0.00 4.22
2007 1 0 0 8 0 0 3.359 0.00 4.22
2008 1 0 0 7 0 0 3.070 0.00 4.22
2009 1 0 0 6 0 0 2.836 0.00 4.22
2010 1 0 0 6 0 0 2.642 0.00 4.22
2011 1 0 0 6 0 0 2.478 0.00 4.22
2012 1 0 0 5 0 0 2.338 0.00 4.22
2013 1 0 0 5 0 0 2.215 0.00 4.22
2014 1 0 0 5 0 0 2.108 0.00 4.22
2015 1 0 0 5 0 0 2.013 0.00 4.22
2016 1 0 0 4 0 0 1.928 0.00 4.22
2017 1 0 0 4 0 0 1.850 0.00 4.22
SUB-TOTAL 0 0 104 0 0 45.671 0.00 4.22
REMAINDER 0 0 53 0 0 22.888 0.00 4.22
TOTAL 0 0 157 0 0 68.559 0.00 4.22
CUMULATIVE 0 0 33
ULTIMATE 0 0 190
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 25,242 0 25,242 0 757 24,485
2004 0 0 20,715 0 20,715 0 622 20,093
2005 0 0 17,795 0 17,795 0 534 17,261
2006 0 0 15,728 0 15,728 0 471 15,257
2007 0 0 14,173 0 14,173 0 426 13,747
2008 0 0 12,954 0 12,954 0 388 12,566
2009 0 0 11,967 0 11,967 0 359 11,608
2010 0 0 11,148 0 11,148 0 335 10,813
2011 0 0 10,458 0 10,458 0 313 10,145
2012 0 0 9,865 0 9,865 0 296 9,569
2013 0 0 9,349 0 9,349 0 281 9,068
2014 0 0 8,896 0 8,896 0 267 8,629
2015 0 0 8,494 0 8,494 0 255 8,239
2016 0 0 8,135 0 8,135 0 244 7,891
2017 0 0 7,807 0 7,807 0 234 7,573
SUB-TOT 0 0 192,726 0 192,726 0 5,782 186,944
REMAIN 0 0 96,586 0 96,586 0 2,897 93,689
TOTAL 0 0 289,312 0 289,312 0 8,679 280,633
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 0 0 3,600 20,885 20,885 19,923
2004 3,600 0 0 0 3,600 16,493 37,378 14,234
2005 3,600 0 0 0 3,600 13,661 51,039 10,670
2006 3,600 0 0 0 3,600 11,657 62,696 8,240
2007 3,600 0 0 0 3,600 10,147 72,843 6,491
2008 3,600 0 0 0 3,600 8,966 81,809 5,192
2009 3,600 0 0 0 3,600 8,008 89,817 4,198
2010 3,600 0 0 0 3,600 7,213 97,030 3,422
2011 3,600 0 0 0 3,600 6,545 103,575 2,810
2012 3,600 0 0 0 3,600 5,969 109,544 2,320
2013 3,600 0 0 0 3,600 5,468 115,012 1,924
2014 3,600 0 0 0 3,600 5,029 120,041 1,602
2015 3,600 0 0 0 3,600 4,639 124,680 1,337
2016 3,600 0 0 0 3,600 4,291 128,971 1,120
2017 3,600 0 0 0 3,600 3,973 132,944 939
SUBTOT 54,000 0 0 0 54,000 132,944 84,422
REMAIN 63,900 0 0 0 63,900 29,789 162,733 4,152
TOTAL 117,900 0 0 0 117,900 162,733 88,574
LIFE OF EVALUATION IS 32.75 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 248
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 63,274
FINAL - 0.500000 0.437500 4.22 10.00% - 10,245
REMARKS - 15.00% - 1,711
20.00% - 294
25.00% - 52
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 256 0 0 112.093 0.00 4.22
TOTAL 0 0 256 0 0 112.093 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 256
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 473,034 0 473,034 0 14,191 458,843
TOTAL 0 0 473,034 0 473,034 0 14,191 458,843
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 44,220 0 10,000 0 54,220 404,623 404,623 10,245
TOTAL 44,220 0 10,000 0 54,220 404,623 10,245
LIFE OF EVALUATION IS 45.03 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 249
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
PURKEY #3 BP2 (TRENTON-MURFREESBORO) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 14,280
FINAL - 0.500000 0.437500 4.22 10.00% - 1,403
REMARKS - 15.00% - 139
20.00% - 14
25.00% - 1
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 95 0 0 41.560 0.00 4.22
TOTAL 0 0 95 0 0 41.560 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 95
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 175,384 0 175,384 0 5,262 170,122
TOTAL 0 0 175,384 0 175,384 0 5,262 170,122
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 12,996 0 10,000 0 22,996 147,126 147,126 1,403
TOTAL 12,996 0 10,000 0 22,996 147,126 1,403
LIFE OF EVALUATION IS 48.69 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 250
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
PURKEY #4 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 303,013
FINAL - 0.500000 0.437500 4.22 10.00% - 246,466
REMARKS - 15.00% - 202,360
20.00% - 167,537
25.00% - 139,719
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 24 0 0 10.467 0.00 4.22
2004 1 0 0 64 0 0 28.241 0.00 4.22
2005 1 0 0 44 0 0 19.153 0.00 4.22
2006 1 0 0 35 0 0 15.053 0.00 4.22
2007 1 0 0 29 0 0 12.625 0.00 4.22
2008 1 0 0 25 0 0 10.988 0.00 4.22
2009 1 0 0 22 0 0 9.797 0.00 4.22
2010 1 0 0 20 0 0 8.884 0.00 4.22
2011 1 0 0 18 0 0 7.729 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 281 0 0 122.937 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 281 0 0 122.937 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 281
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 44,173 0 44,173 0 1,325 42,848
2004 0 0 119,177 0 119,177 0 3,576 115,601
2005 0 0 80,826 0 80,826 0 2,424 78,402
2006 0 0 63,524 0 63,524 0 1,906 61,618
2007 0 0 53,276 0 53,276 0 1,598 51,678
2008 0 0 46,370 0 46,370 0 1,391 44,979
2009 0 0 41,343 0 41,343 0 1,241 40,102
2010 0 0 37,491 0 37,491 0 1,124 36,367
2011 0 0 32,616 0 32,616 0 979 31,637
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 518,796 0 518,796 0 15,564 503,232
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 518,796 0 518,796 0 15,564 503,232
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 100,000 0 100,000 -57,152 -57,152 -53,129
2004 1,800 0 0 0 1,800 113,801 56,649 98,511
2005 3,600 0 0 0 3,600 74,802 131,451 58,486
2006 3,600 0 0 0 3,600 58,018 189,469 41,032
2007 3,600 0 0 0 3,600 48,078 237,547 30,768
2008 3,600 0 0 0 3,600 41,379 278,926 23,964
2009 3,600 0 0 0 3,600 36,502 315,428 19,134
2010 3,600 0 0 0 3,600 32,767 348,195 15,545
2011 3,403 0 0 0 3,403 28,234 376,429 12,155
2012 0 0 0 0 0 0 376,429 0
2013 0 0 0 0 0 0 376,429 0
2014 0 0 0 0 0 0 376,429 0
2015 0 0 0 0 0 0 376,429 0
2016 0 0 0 0 0 0 376,429 0
2017 0 0 0 0 0 0 376,429 0
SUBTOT 26,803 0 100,000 0 126,803 376,429 246,466
REMAIN 0 0 0 0 0 0 376,429 0
TOTAL 26,803 0 100,000 0 126,803 376,429 246,466
LIFE OF EVALUATION IS 8.95 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 251
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
PURKEY #5 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 326,619
FINAL - 0.500000 0.437500 4.22 10.00% - 265,509
REMARKS - 15.00% - 218,119
20.00% - 180,874
25.00% - 151,223
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 26 0 0 11.467 0.00 4.22
2004 1 0 0 69 0 0 29.991 0.00 4.22
2005 1 0 0 45 0 0 19.967 0.00 4.22
2006 1 0 0 36 0 0 15.589 0.00 4.22
2007 1 0 0 30 0 0 13.030 0.00 4.22
2008 1 0 0 26 0 0 11.317 0.00 4.22
2009 1 0 0 23 0 0 10.075 0.00 4.22
2010 1 0 0 21 0 0 9.127 0.00 4.22
2011 1 0 0 19 0 0 8.374 0.00 4.22
2012 1 0 0 5 0 0 2.313 0.00 4.22
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 300 0 0 131.250 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 300 0 0 131.250 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 300
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 48,391 0 48,391 0 1,452 46,939
2004 0 0 126,561 0 126,561 0 3,797 122,764
2005 0 0 84,261 0 84,261 0 2,527 81,734
2006 0 0 65,787 0 65,787 0 1,974 63,813
2007 0 0 54,985 0 54,985 0 1,650 53,335
2008 0 0 47,756 0 47,756 0 1,432 46,324
2009 0 0 42,518 0 42,518 0 1,276 41,242
2010 0 0 38,515 0 38,515 0 1,155 37,360
2011 0 0 35,340 0 35,340 0 1,060 34,280
2012 0 0 9,761 0 9,761 0 293 9,468
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 553,875 0 553,875 0 16,616 537,259
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 553,875 0 553,875 0 16,616 537,259
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 900 0 100,000 0 100,900 -53,961 -53,961 -50,200
2004 3,600 0 0 0 3,600 119,164 65,203 103,147
2005 3,600 0 0 0 3,600 78,134 143,337 61,094
2006 3,600 0 0 0 3,600 60,213 203,550 42,587
2007 3,600 0 0 0 3,600 49,735 253,285 31,828
2008 3,600 0 0 0 3,600 42,724 296,009 24,744
2009 3,600 0 0 0 3,600 37,642 333,651 19,731
2010 3,600 0 0 0 3,600 33,760 367,411 16,017
2011 3,600 0 0 0 3,600 30,680 398,091 13,174
2012 1,046 0 0 0 1,046 8,422 406,513 3,387
2013 0 0 0 0 0 0 406,513 0
2014 0 0 0 0 0 0 406,513 0
2015 0 0 0 0 0 0 406,513 0
2016 0 0 0 0 0 0 406,513 0
2017 0 0 0 0 0 0 406,513 0
SUBTOT 30,746 0 100,000 0 130,746 406,513 265,509
REMAIN 0 0 0 0 0 0 406,513 0
TOTAL 30,746 0 100,000 0 130,746 406,513 265,509
LIFE OF EVALUATION IS 9.29 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 252
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
RAY DEAN HELTON #1 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 1
ULTIMATE 0 0 1
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 253
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
RAY DEAN HELTON #1 BP (TRENTON-STONES RIVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 283,831
FINAL - 1.000000 0.875000 4.22 10.00% - 241,111
REMARKS - 15.00% - 206,477
20.00% - 178,111
25.00% - 154,656
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 32 0 0 27.802 0.00 4.22
2005 1 0 0 24 0 0 20.952 0.00 4.22
2006 1 0 0 18 0 0 15.790 0.00 4.22
2007 1 0 0 13 0 0 11.899 0.00 4.22
2008 1 0 0 11 0 0 8.967 0.00 4.22
2009 1 0 0 7 0 0 6.758 0.00 4.22
2010 1 0 0 6 0 0 5.093 0.00 4.22
2011 1 0 0 5 0 0 3.838 0.00 4.22
2012 1 0 0 0 0 0 0.455 0.00 4.22
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 116 0 0 101.554 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 116 0 0 101.554 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 116
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 117,326 0 117,326 0 3,520 113,806
2005 0 0 88,418 0 88,418 0 2,652 85,766
2006 0 0 66,633 0 66,633 0 1,999 64,634
2007 0 0 50,215 0 50,215 0 1,507 48,708
2008 0 0 37,842 0 37,842 0 1,135 36,707
2009 0 0 28,518 0 28,518 0 856 27,662
2010 0 0 21,492 0 21,492 0 644 20,848
2011 0 0 16,196 0 16,196 0 486 15,710
2012 0 0 1,920 0 1,920 0 58 1,862
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 428,560 0 428,560 0 12,857 415,703
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 428,560 0 428,560 0 12,857 415,703
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 7,200 0 20,000 0 27,200 86,606 86,606 74,050
2005 7,200 0 0 0 7,200 78,566 165,172 61,432
2006 7,200 0 0 0 7,200 57,434 222,606 40,655
2007 7,200 0 0 0 7,200 41,508 264,114 26,599
2008 7,200 0 0 0 7,200 29,507 293,621 17,120
2009 7,200 0 0 0 7,200 20,462 314,083 10,749
2010 7,200 0 0 0 7,200 13,648 327,731 6,492
2011 7,200 0 0 0 7,200 8,510 336,241 3,668
2012 1,006 0 0 0 1,006 856 337,097 346
2013 0 0 0 0 0 0 337,097 0
2014 0 0 0 0 0 0 337,097 0
2015 0 0 0 0 0 0 337,097 0
2016 0 0 0 0 0 0 337,097 0
2017 0 0 0 0 0 0 337,097 0
SUBTOT 58,606 0 20,000 0 78,606 337,097 241,111
REMAIN 0 0 0 0 0 0 337,097 0
TOTAL 58,606 0 20,000 0 78,606 337,097 241,111
LIFE OF EVALUATION IS 9.14 YEARS.
FINAL PRODUCTION RATE: 0.3 MMCF/MO
TENGASCO, INC. TABLE 254
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #2 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 26.90 5.00% - 154,998
FINAL - 0.500000 0.437500 26.90 10.00% - 146,192
REMARKS - 15.00% - 138,029
20.00% - 130,452
25.00% - 123,409
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 7,003 0 0 3,064 0 0.000 26.90 0.00
2004 1 6,338 0 0 2,773 0 0.000 26.90 0.00
2005 1 2,093 0 0 915 0 0.000 26.90 0.00
2006 1 45 0 0 20 0 0.000 26.90 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 15,479 0 0 6,772 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 15,479 0 0 6,772 0 0.000 26.90 0.00
CUMULATIVE 0 0 0
ULTIMATE 15,479 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 82,413 0 0 0 82,413 2,472 0 79,941
2004 74,589 0 0 0 74,589 2,238 0 72,351
2005 24,639 0 0 0 24,639 739 0 23,900
2006 527 0 0 0 527 16 0 511
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 182,168 0 0 0 182,168 5,465 0 176,703
REMAIN 0 0 0 0 0 0 0 0
TOTAL 182,168 0 0 0 182,168 5,465 0 176,703
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 2,400 0 0 0 2,400 77,541 77,541 72,133
2004 4,800 0 0 0 4,800 67,551 145,092 58,760
2005 4,800 0 0 0 4,800 19,100 164,192 15,064
2006 192 0 0 0 192 319 164,511 235
2007 0 0 0 0 0 0 164,511 0
2008 0 0 0 0 0 0 164,511 0
2009 0 0 0 0 0 0 164,511 0
2010 0 0 0 0 0 0 164,511 0
2011 0 0 0 0 0 0 164,511 0
2012 0 0 0 0 0 0 164,511 0
2013 0 0 0 0 0 0 164,511 0
2014 0 0 0 0 0 0 164,511 0
2015 0 0 0 0 0 0 164,511 0
2016 0 0 0 0 0 0 164,511 0
2017 0 0 0 0 0 0 164,511 0
SUBTOT 12,192 0 0 0 12,192 164,511 146,192
REMAIN 0 0 0 0 0 0 164,511 0
TOTAL 12,192 0 0 0 12,192 164,511 146,192
LIFE OF EVALUATION IS 3.04 YEARS.
FINAL PRODUCTION RATE: 93 BBLS/MO
TENGASCO, INC. TABLE 255
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #2 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 207,261
FINAL - 0.500000 0.437500 4.22 10.00% - 159,445
REMARKS - 15.00% - 123,513
20.00% - 96,312
25.00% - 75,572
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 40 0 0 17.596 0.00 4.22
2007 1 0 0 35 0 0 15.344 0.00 4.22
2008 1 0 0 30 0 0 12.878 0.00 4.22
2009 1 0 0 25 0 0 10.970 0.00 4.22
2010 1 0 0 21 0 0 9.462 0.00 4.22
2011 1 0 0 15 0 0 6.245 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 166 0 0 72.495 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 166 0 0 72.495 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 166
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 74,256 0 74,256 0 2,228 72,028
2007 0 0 64,752 0 64,752 0 1,942 62,810
2008 0 0 54,346 0 54,346 0 1,631 52,715
2009 0 0 46,293 0 46,293 0 1,388 44,905
2010 0 0 39,930 0 39,930 0 1,198 38,732
2011 0 0 26,353 0 26,353 0 791 25,562
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 305,930 0 305,930 0 9,178 296,752
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 305,930 0 305,930 0 9,178 296,752
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,300 0 5,000 0 8,300 63,728 63,728 44,806
2007 3,600 0 0 0 3,600 59,210 122,938 37,901
2008 3,600 0 0 0 3,600 49,115 172,053 28,455
2009 3,600 0 0 0 3,600 41,305 213,358 21,660
2010 3,600 0 0 0 3,600 35,132 248,490 16,675
2011 2,681 0 0 0 2,681 22,881 271,371 9,948
2012 0 0 0 0 0 0 271,371 0
2013 0 0 0 0 0 0 271,371 0
2014 0 0 0 0 0 0 271,371 0
2015 0 0 0 0 0 0 271,371 0
2016 0 0 0 0 0 0 271,371 0
2017 0 0 0 0 0 0 271,371 0
SUBTOT 20,381 0 5,000 0 25,381 271,371 159,445
REMAIN 0 0 0 0 0 0 271,371 0
TOTAL 20,381 0 5,000 0 25,381 271,371 159,445
LIFE OF EVALUATION IS 8.74 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 256
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #2 BP2 (TRENTON) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 28,885
FINAL - 0.500000 0.437500 4.22 10.00% - 18,085
REMARKS - 15.00% - 11,347
20.00% - 7,135
25.00% - 4,496
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 9 0 0 3.734 0.00 4.22
2012 1 0 0 24 0 0 10.801 0.00 4.22
2013 1 0 0 1 0 0 0.339 0.00 4.22
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 34 0 0 14.874 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 34 0 0 14.874 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 34
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 15,757 0 15,757 0 473 15,284
2012 0 0 45,582 0 45,582 0 1,367 44,215
2013 0 0 1,430 0 1,430 0 43 1,387
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 62,769 0 62,769 0 1,883 60,886
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 62,769 0 62,769 0 1,883 60,886
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 900 0 10,000 0 10,900 4,384 4,384 1,779
2012 3,600 0 0 0 3,600 40,615 44,999 15,851
2013 151 0 0 0 151 1,236 46,235 455
2014 0 0 0 0 0 0 46,235 0
2015 0 0 0 0 0 0 46,235 0
2016 0 0 0 0 0 0 46,235 0
2017 0 0 0 0 0 0 46,235 0
SUBTOT 4,651 0 10,000 0 14,651 46,235 18,085
REMAIN 0 0 0 0 0 0 46,235 0
TOTAL 4,651 0 10,000 0 14,651 46,235 18,085
LIFE OF EVALUATION IS 10.04 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 257
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #3 (STONES RIVER) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 26.90 5.00% - 44
FINAL - 0.500000 0.437500 26.90 10.00% - 44
REMARKS - 15.00% - 44
20.00% - 44
25.00% - 44
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 39 0 0 17 0 0.000 26.90 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 39 0 0 17 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 39 0 0 17 0 0.000 26.90 0.00
CUMULATIVE 1,357 0 0
ULTIMATE 1,396 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 458 0 0 0 458 14 0 444
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 458 0 0 0 458 14 0 444
REMAIN 0 0 0 0 0 0 0 0
TOTAL 458 0 0 0 458 14 0 444
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 400 0 0 0 400 44 44 44
2004 0 0 0 0 0 0 44 0
2005 0 0 0 0 0 0 44 0
2006 0 0 0 0 0 0 44 0
2007 0 0 0 0 0 0 44 0
2008 0 0 0 0 0 0 44 0
2009 0 0 0 0 0 0 44 0
2010 0 0 0 0 0 0 44 0
2011 0 0 0 0 0 0 44 0
2012 0 0 0 0 0 0 44 0
2013 0 0 0 0 0 0 44 0
2014 0 0 0 0 0 0 44 0
2015 0 0 0 0 0 0 44 0
2016 0 0 0 0 0 0 44 0
2017 0 0 0 0 0 0 44 0
SUBTOT 400 0 0 0 400 44 44
REMAIN 0 0 0 0 0 0 44 0
TOTAL 400 0 0 0 400 44 44
LIFE OF EVALUATION IS 0.08 YEARS.
FINAL PRODUCTION RATE: 39 BBLS/MO
TENGASCO, INC. TABLE 258
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
RAY DEAN HELTON #4 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,048,729
FINAL - 1.000000 0.875000 4.22 10.00% - 797,588
REMARKS - 15.00% - 632,513
20.00% - 517,580
25.00% - 433,476
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 75 0 0 65.354 0.00 4.22
2004 1 0 0 58 0 0 51.358 0.00 4.22
2005 1 0 0 45 0 0 38.971 0.00 4.22
2006 1 0 0 37 0 0 32.112 0.00 4.22
2007 1 0 0 31 0 0 27.652 0.00 4.22
2008 1 0 0 28 0 0 24.478 0.00 4.22
2009 1 0 0 25 0 0 22.083 0.00 4.22
2010 1 0 0 24 0 0 20.199 0.00 4.22
2011 1 0 0 21 0 0 18.672 0.00 4.22
2012 1 0 0 20 0 0 17.405 0.00 4.22
2013 1 0 0 18 0 0 16.333 0.00 4.22
2014 1 0 0 18 0 0 15.412 0.00 4.22
2015 1 0 0 17 0 0 14.610 0.00 4.22
2016 1 0 0 16 0 0 13.878 0.00 4.22
2017 1 0 0 15 0 0 13.184 0.00 4.22
SUB-TOTAL 0 0 448 0 0 391.701 0.00 4.22
REMAINDER 0 0 52 0 0 45.799 0.00 4.22
TOTAL 0 0 500 0 0 437.500 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 500
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 275,792 0 275,792 0 8,274 267,518
2004 0 0 216,730 0 216,730 0 6,502 210,228
2005 0 0 164,459 0 164,459 0 4,933 159,526
2006 0 0 135,512 0 135,512 0 4,066 131,446
2007 0 0 116,691 0 116,691 0 3,501 113,190
2008 0 0 103,296 0 103,296 0 3,098 100,198
2009 0 0 93,188 0 93,188 0 2,796 90,392
2010 0 0 85,240 0 85,240 0 2,557 82,683
2011 0 0 78,798 0 78,798 0 2,364 76,434
2012 0 0 73,449 0 73,449 0 2,204 71,245
2013 0 0 68,925 0 68,925 0 2,067 66,858
2014 0 0 65,040 0 65,040 0 1,952 63,088
2015 0 0 61,654 0 61,654 0 1,849 59,805
2016 0 0 58,566 0 58,566 0 1,757 56,809
2017 0 0 55,639 0 55,639 0 1,669 53,970
SUB-TOT 0 0 1,652,979 0 1,652,979 0 49,589 1,603,390
REMAIN 0 0 193,271 0 193,271 0 5,799 187,472
TOTAL 0 0 1,846,250 0 1,846,250 0 55,388 1,790,862
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 6,000 0 200,000 0 206,000 61,518 61,518 51,852
2004 7,200 0 0 0 7,200 203,028 264,546 175,433
2005 7,200 0 0 0 7,200 152,326 416,872 119,032
2006 7,200 0 0 0 7,200 124,246 541,118 87,846
2007 7,200 0 0 0 7,200 105,990 647,108 67,815
2008 7,200 0 0 0 7,200 92,998 740,106 53,853
2009 7,200 0 0 0 7,200 83,192 823,298 43,602
2010 7,200 0 0 0 7,200 75,483 898,781 35,809
2011 7,200 0 0 0 7,200 69,234 968,015 29,728
2012 7,200 0 0 0 7,200 64,045 1,032,060 24,892
2013 7,200 0 0 0 7,200 59,658 1,091,718 20,988
2014 7,200 0 0 0 7,200 55,888 1,147,606 17,797
2015 7,200 0 0 0 7,200 52,605 1,200,211 15,163
2016 7,200 0 0 0 7,200 49,609 1,249,820 12,945
2017 7,200 0 0 0 7,200 46,770 1,296,590 11,047
SUBTOT 106,800 0 200,000 0 306,800 1,296,590 767,802
REMAIN 28,341 0 0 0 28,341 159,131 1,455,721 29,786
TOTAL 135,141 0 200,000 0 335,141 1,455,721 797,588
LIFE OF EVALUATION IS 18.94 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 259
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
RAY DEAN HELTON #6 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,006,017
FINAL - 1.000000 0.875000 4.22 10.00% - 734,070
REMARKS - 15.00% - 558,624
20.00% - 438,724
25.00% - 352,709
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 86 0 0 75.237 0.00 4.22
2005 1 0 0 56 0 0 48.613 0.00 4.22
2006 1 0 0 42 0 0 37.575 0.00 4.22
2007 1 0 0 36 0 0 31.244 0.00 4.22
2008 1 0 0 31 0 0 27.052 0.00 4.22
2009 1 0 0 28 0 0 24.034 0.00 4.22
2010 1 0 0 24 0 0 21.738 0.00 4.22
2011 1 0 0 23 0 0 19.923 0.00 4.22
2012 1 0 0 21 0 0 18.445 0.00 4.22
2013 1 0 0 20 0 0 17.214 0.00 4.22
2014 1 0 0 18 0 0 16.170 0.00 4.22
2015 1 0 0 18 0 0 15.271 0.00 4.22
2016 1 0 0 16 0 0 14.485 0.00 4.22
2017 1 0 0 16 0 0 13.760 0.00 4.22
SUB-TOTAL 0 0 435 0 0 380.761 0.00 4.22
REMAINDER 0 0 65 0 0 56.739 0.00 4.22
TOTAL 0 0 500 0 0 437.500 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 500
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 317,498 0 317,498 0 9,525 307,973
2005 0 0 205,147 0 205,147 0 6,154 198,993
2006 0 0 158,568 0 158,568 0 4,757 153,811
2007 0 0 131,851 0 131,851 0 3,956 127,895
2008 0 0 114,158 0 114,158 0 3,425 110,733
2009 0 0 101,422 0 101,422 0 3,042 98,380
2010 0 0 91,735 0 91,735 0 2,752 88,983
2011 0 0 84,076 0 84,076 0 2,523 81,553
2012 0 0 77,839 0 77,839 0 2,335 75,504
2013 0 0 72,643 0 72,643 0 2,179 70,464
2014 0 0 68,238 0 68,238 0 2,047 66,191
2015 0 0 64,444 0 64,444 0 1,934 62,510
2016 0 0 61,126 0 61,126 0 1,833 59,293
2017 0 0 58,068 0 58,068 0 1,742 56,326
SUB-TOT 0 0 1,606,813 0 1,606,813 0 48,204 1,558,609
REMAIN 0 0 239,437 0 239,437 0 7,184 232,253
TOTAL 0 0 1,846,250 0 1,846,250 0 55,388 1,790,862
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
----------------------------------------------------------- -----------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
FD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ----------- ---------- ----------- -------- --------- ------------ ---------- -----------
v 2003 0 0 0 0 0 0 0 0
2004 7,200 0 200,000 0 207,200 100,773 100,773 80,160
2005 7,200 0 0 0 7,200 191,793 292,566 149,982
2006 7,200 0 0 0 7,200 146,611 439,177 103,697
2007 7,200 0 0 0 7,200 120,695 559,872 77,242
2008 7,200 0 0 0 7,200 103,533 663,405 59,962
2009 7,200 0 0 0 7,200 91,180 754,585 47,794
2010 7,200 0 0 0 7,200 81,783 836,368 38,800
2011 7,200 0 0 0 7,200 74,353 910,721 31,929
2012 7,200 0 0 0 7,200 68,304 979,025 26,548
2013 7,200 0 0 0 7,200 63,264 1,042,289 22,258
2014 7,200 0 0 0 7,200 58,991 1,101,280 18,786
2015 7,200 0 0 0 7,200 55,310 1,156,590 15,943
2016 7,200 0 0 0 7,200 52,093 1,208,683 13,593
2017 7,200 0 0 0 7,200 49,126 1,257,809 11,603
SUBTOT 100,800 0 200,000 0 300,800 1,257,809 698,297
REMAIN 34,341 0 0 0 34,341 197,912 1,455,721 35,773
TOTAL 135,141 0 200,000 0 335,141 1,455,721 734,070
LIFE OF EVALUATION IS 19.77 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 260
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
MILLER PETROLEUM - OPERATOR 11-T1S-R74E PROVED
ROSE #1 (TRENTON) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 5.00% - 0
FINAL - 0.500000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 261
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #1 (TRENTON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 26.90 5.00% - 24,310
FINAL - 0.500000 0.437500 26.90 10.00% - 21,951
REMARKS - 15.00% - 19,950
20.00% - 18,243
25.00% - 16,774
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 1,109 0 0 485 0 0.000 26.90 0.00
2004 1 965 0 0 422 0 0.000 26.90 0.00
2005 1 839 0 0 368 0 0.000 26.90 0.00
2006 1 730 0 0 319 0 0.000 26.90 0.00
2007 1 636 0 0 278 0 0.000 26.90 0.00
2008 1 553 0 0 242 0 0.000 26.90 0.00
2009 1 480 0 0 210 0 0.000 26.90 0.00
2010 1 160 0 0 70 0 0.000 26.90 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 5,472 0 0 2,394 0 0.000 26.90 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 5,472 0 0 2,394 0 0.000 26.90 0.00
CUMULATIVE 5,645 0 0
ULTIMATE 11,117 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 13,051 0 0 0 13,051 392 0 12,659
2004 11,355 0 0 0 11,355 340 0 11,015
2005 9,879 0 0 0 9,879 297 0 9,582
2006 8,594 0 0 0 8,594 257 0 8,337
2007 7,477 0 0 0 7,477 225 0 7,252
2008 6,505 0 0 0 6,505 195 0 6,310
2009 5,660 0 0 0 5,660 170 0 5,490
2010 1,878 0 0 0 1,878 56 0 1,822
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 64,399 0 0 0 64,399 1,932 0 62,467
REMAIN 0 0 0 0 0 0 0 0
TOTAL 64,399 0 0 0 64,399 1,932 0 62,467
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 4,800 0 0 0 4,800 7,859 7,859 7,494
2004 4,800 0 0 0 4,800 6,215 14,074 5,366
2005 4,800 0 0 0 4,800 4,782 18,856 3,738
2006 4,800 0 0 0 4,800 3,537 22,393 2,504
2007 4,800 0 0 0 4,800 2,452 24,845 1,572
2008 4,800 0 0 0 4,800 1,510 26,355 878
2009 4,800 0 0 0 4,800 690 27,045 365
2010 1,753 0 0 0 1,753 69 27,114 34
2011 0 0 0 0 0 0 27,114 0
2012 0 0 0 0 0 0 27,114 0
2013 0 0 0 0 0 0 27,114 0
2014 0 0 0 0 0 0 27,114 0
2015 0 0 0 0 0 0 27,114 0
2016 0 0 0 0 0 0 27,114 0
2017 0 0 0 0 0 0 27,114 0
SUBTOT 35,353 0 0 0 35,353 27,114 21,951
REMAIN 0 0 0 0 0 0 27,114 0
TOTAL 35,353 0 0 0 35,353 27,114 21,951
LIFE OF EVALUATION IS 7.37 YEARS.
FINAL PRODUCTION RATE: 36 BBLS/MO
TENGASCO, INC. TABLE 262
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #2 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 39
ULTIMATE 0 0 39
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 263
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #3 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 168,297
FINAL - 1.000000 0.656250 4.22 10.00% - 137,480
REMARKS - 15.00% - 116,502
20.00% - 101,407
25.00% - 90,042
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 17 0 0 11.385 0.00 4.22
2004 1 0 0 14 0 0 8.664 0.00 4.22
2005 1 0 0 10 0 0 7.149 0.00 4.22
2006 1 0 0 10 0 0 6.161 0.00 4.22
2007 1 0 0 8 0 0 5.457 0.00 4.22
2008 1 0 0 8 0 0 4.925 0.00 4.22
2009 1 0 0 7 0 0 4.506 0.00 4.22
2010 1 0 0 6 0 0 4.166 0.00 4.22
2011 1 0 0 6 0 0 3.884 0.00 4.22
2012 1 0 0 5 0 0 3.646 0.00 4.22
2013 1 0 0 6 0 0 3.440 0.00 4.22
2014 1 0 0 5 0 0 3.262 0.00 4.22
2015 1 0 0 4 0 0 3.098 0.00 4.22
2016 1 0 0 5 0 0 2.943 0.00 4.22
2017 1 0 0 4 0 0 2.796 0.00 4.22
SUB-TOTAL 0 0 115 0 0 75.482 0.00 4.22
REMAINDER 0 0 29 0 0 18.775 0.00 4.22
TOTAL 0 0 144 0 0 94.257 0.00 4.22
CUMULATIVE 0 0 74
ULTIMATE 0 0 218
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 48,046 0 48,046 0 1,441 46,605
2004 0 0 36,562 0 36,562 0 1,097 35,465
2005 0 0 30,169 0 30,169 0 905 29,264
2006 0 0 25,999 0 25,999 0 780 25,219
2007 0 0 23,028 0 23,028 0 691 22,337
2008 0 0 20,783 0 20,783 0 624 20,159
2009 0 0 19,015 0 19,015 0 570 18,445
2010 0 0 17,582 0 17,582 0 528 17,054
2011 0 0 16,392 0 16,392 0 491 15,901
2012 0 0 15,385 0 15,385 0 462 14,923
2013 0 0 14,519 0 14,519 0 435 14,084
2014 0 0 13,764 0 13,764 0 413 13,351
2015 0 0 13,075 0 13,075 0 393 12,682
2016 0 0 12,422 0 12,422 0 372 12,050
2017 0 0 11,800 0 11,800 0 354 11,446
SUB-TOT 0 0 318,541 0 318,541 0 9,556 308,985
REMAIN 0 0 79,230 0 79,230 0 2,377 76,853
TOTAL 0 0 397,771 0 397,771 0 11,933 385,838
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 39,405 39,405 37,628
2004 7,200 0 0 0 7,200 28,265 67,670 24,409
2005 7,200 0 0 0 7,200 22,064 89,734 17,240
2006 7,200 0 0 0 7,200 18,019 107,753 12,740
2007 7,200 0 0 0 7,200 15,137 122,890 9,687
2008 7,200 0 0 0 7,200 12,959 135,849 7,506
2009 7,200 0 0 0 7,200 11,245 147,094 5,896
2010 7,200 0 0 0 7,200 9,854 156,948 4,676
2011 7,200 0 0 0 7,200 8,701 165,649 3,737
2012 7,200 0 0 0 7,200 7,723 173,372 3,003
2013 7,200 0 0 0 7,200 6,884 180,256 2,422
2014 7,200 0 0 0 7,200 6,151 186,407 1,960
2015 7,200 0 0 0 7,200 5,482 191,889 1,581
2016 7,200 0 0 0 7,200 4,850 196,739 1,266
2017 7,200 0 0 0 7,200 4,246 200,985 1,004
SUBTOT 108,000 0 0 0 108,000 200,985 134,755
REMAIN 61,200 0 0 0 61,200 15,653 216,638 2,725
TOTAL 169,200 0 0 0 169,200 216,638 137,480
LIFE OF EVALUATION IS 23.50 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 264
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #3 BP (TRNT-SR-MFB) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 0.656250 26.90 4.22 5.00% - 187,165
FINAL - 1.000000 0.656250 0.656250 26.90 4.22 10.00% - 55,279
REMARKS - 15.00% - 16,438
20.00% - 4,920
25.00% - 1,482
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 38,665 0 26 25,374 0 17.047 26.90 4.22
TOTAL 38,665 0 26 25,374 0 17.047 26.90 4.22
CUMULATIVE 0 0 0
ULTIMATE 38,665 0 26
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 682,558 0 71,939 0 754,497 20,477 2,158 731,862
TOTAL 682,558 0 71,939 0 754,497 20,477 2,158 731,862
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 43,738 0 50,000 0 93,738 638,124 638,124 55,279
TOTAL 43,738 0 50,000 0 93,738 638,124 55,279
LIFE OF EVALUATION IS 28.06 YEARS.
FINAL PRODUCTION RATE: 64 BBLS/MO
TENGASCO, INC. TABLE 265
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
STEPHEN LAWSON #4 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 2,842
FINAL - 1.000000 0.656250 4.22 10.00% - 2,756
REMARKS - 15.00% - 2,674
20.00% - 2,597
25.00% - 2,523
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 4 0 0 2.313 0.00 4.22
2004 1 0 0 2 0 0 1.920 0.00 4.22
2005 1 0 0 1 0 0 0.148 0.00 4.22
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 7 0 0 4.381 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 7 0 0 4.381 0.00 4.22
CUMULATIVE 0 0 10
ULTIMATE 0 0 17
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 9,760 0 9,760 0 293 9,467
2004 0 0 8,103 0 8,103 0 243 7,860
2005 0 0 624 0 624 0 19 605
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 18,487 0 18,487 0 555 17,932
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 18,487 0 18,487 0 555 17,932
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 2,267 2,267 2,174
2004 7,200 0 0 0 7,200 660 2,927 578
2005 600 0 0 0 600 5 2,932 4
2006 0 0 0 0 0 0 2,932 0
2007 0 0 0 0 0 0 2,932 0
2008 0 0 0 0 0 0 2,932 0
2009 0 0 0 0 0 0 2,932 0
2010 0 0 0 0 0 0 2,932 0
2011 0 0 0 0 0 0 2,932 0
2012 0 0 0 0 0 0 2,932 0
2013 0 0 0 0 0 0 2,932 0
2014 0 0 0 0 0 0 2,932 0
2015 0 0 0 0 0 0 2,932 0
2016 0 0 0 0 0 0 2,932 0
2017 0 0 0 0 0 0 2,932 0
SUBTOT 15,000 0 0 0 15,000 2,932 2,756
REMAIN 0 0 0 0 0 0 2,932 0
TOTAL 15,000 0 0 0 15,000 2,932 2,756
LIFE OF EVALUATION IS 2.08 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 266
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
STEPHEN LAWSON #4 BP (STONES RIVER) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 0.656250 26.90 4.22 5.00% - 155,182
FINAL - 1.000000 0.656250 0.656250 26.90 4.22 10.00% - 133,299
REMARKS - 15.00% - 114,710
20.00% - 98,888
25.00% - 85,392
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 7,064 0 5 4,636 0 3.115 26.90 4.22
2006 1 3,542 0 2 2,324 0 1.562 26.90 4.22
2007 1 1,566 0 1 1,028 0 0.691 26.90 4.22
2008 1 613 0 1 402 0 0.270 26.90 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 12,785 0 9 8,390 0 5.638 26.90 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 12,785 0 9 8,390 0 5.638 26.90 4.22
CUMULATIVE 0 0 0
ULTIMATE 12,785 0 9
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 124,707 0 13,144 0 137,851 3,741 394 133,716
2006 62,521 0 6,589 0 69,110 1,876 198 67,036
2007 27,652 0 2,914 0 30,566 829 87 29,650
2008 10,817 0 1,140 0 11,957 325 35 11,597
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 225,697 0 23,787 0 249,484 6,771 714 241,999
REMAIN 0 0 0 0 0 0 0 0
TOTAL 225,697 0 23,787 0 249,484 6,771 714 241,999
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 8,800 0 25,000 0 33,800 99,916 99,916 77,365
2006 9,600 0 0 0 9,600 57,436 157,352 40,865
2007 9,600 0 0 0 9,600 20,050 177,402 12,939
2008 8,000 0 0 0 8,000 3,597 180,999 2,130
2009 0 0 0 0 0 0 180,999 0
2010 0 0 0 0 0 0 180,999 0
2011 0 0 0 0 0 0 180,999 0
2012 0 0 0 0 0 0 180,999 0
2013 0 0 0 0 0 0 180,999 0
2014 0 0 0 0 0 0 180,999 0
2015 0 0 0 0 0 0 180,999 0
2016 0 0 0 0 0 0 180,999 0
2017 0 0 0 0 0 0 180,999 0
SUBTOT 36,000 0 25,000 0 61,000 180,999 133,299
REMAIN 0 0 0 0 0 0 180,999 0
TOTAL 36,000 0 25,000 0 61,000 180,999 133,299
LIFE OF EVALUATION IS 5.83 YEARS.
FINAL PRODUCTION RATE: 44 BBLS/MO
TENGASCO, INC. TABLE 267
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #5 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 191,293
FINAL - 1.000000 0.656250 4.22 10.00% - 158,916
REMARKS - 15.00% - 136,611
20.00% - 120,373
25.00% - 108,011
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 22 0 0 14.517 0.00 4.22
2004 1 0 0 15 0 0 9.900 0.00 4.22
2005 1 0 0 12 0 0 7.797 0.00 4.22
2006 1 0 0 10 0 0 6.546 0.00 4.22
2007 1 0 0 9 0 0 5.701 0.00 4.22
2008 1 0 0 8 0 0 5.086 0.00 4.22
2009 1 0 0 7 0 0 4.613 0.00 4.22
2010 1 0 0 6 0 0 4.237 0.00 4.22
2011 1 0 0 6 0 0 3.930 0.00 4.22
2012 1 0 0 6 0 0 3.672 0.00 4.22
2013 1 0 0 5 0 0 3.454 0.00 4.22
2014 1 0 0 5 0 0 3.265 0.00 4.22
2015 1 0 0 5 0 0 3.098 0.00 4.22
2016 1 0 0 4 0 0 2.943 0.00 4.22
2017 1 0 0 4 0 0 2.796 0.00 4.22
SUB-TOTAL 0 0 124 0 0 81.555 0.00 4.22
REMAINDER 0 0 29 0 0 18.775 0.00 4.22
TOTAL 0 0 153 0 0 100.330 0.00 4.22
CUMULATIVE 0 0 67
ULTIMATE 0 0 220
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 61,263 0 61,263 0 1,838 59,425
2004 0 0 41,780 0 41,780 0 1,253 40,527
2005 0 0 32,902 0 32,902 0 987 31,915
2006 0 0 27,624 0 27,624 0 829 26,795
2007 0 0 24,060 0 24,060 0 722 23,338
2008 0 0 21,461 0 21,461 0 644 20,817
2009 0 0 19,468 0 19,468 0 584 18,884
2010 0 0 17,881 0 17,881 0 536 17,345
2011 0 0 16,583 0 16,583 0 498 16,085
2012 0 0 15,498 0 15,498 0 465 15,033
2013 0 0 14,574 0 14,574 0 437 14,137
2014 0 0 13,777 0 13,777 0 413 13,364
2015 0 0 13,076 0 13,076 0 392 12,684
2016 0 0 12,421 0 12,421 0 373 12,048
2017 0 0 11,801 0 11,801 0 354 11,447
SUB-TOT 0 0 344,169 0 344,169 0 10,325 333,844
REMAIN 0 0 79,230 0 79,230 0 2,377 76,853
TOTAL 0 0 423,399 0 423,399 0 12,702 410,697
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 52,225 52,225 49,944
2004 7,200 0 0 0 7,200 33,327 85,552 28,796
2005 7,200 0 0 0 7,200 24,715 110,267 19,317
2006 7,200 0 0 0 7,200 19,595 129,862 13,858
2007 7,200 0 0 0 7,200 16,138 146,000 10,329
2008 7,200 0 0 0 7,200 13,617 159,617 7,888
2009 7,200 0 0 0 7,200 11,684 171,301 6,126
2010 7,200 0 0 0 7,200 10,145 181,446 4,814
2011 7,200 0 0 0 7,200 8,885 190,331 3,817
2012 7,200 0 0 0 7,200 7,833 198,164 3,045
2013 7,200 0 0 0 7,200 6,937 205,101 2,442
2014 7,200 0 0 0 7,200 6,164 211,265 1,964
2015 7,200 0 0 0 7,200 5,484 216,749 1,581
2016 7,200 0 0 0 7,200 4,848 221,597 1,266
2017 7,200 0 0 0 7,200 4,247 225,844 1,004
SUBTOT 108,000 0 0 0 108,000 225,844 156,191
REMAIN 61,200 0 0 0 61,200 15,653 241,497 2,725
TOTAL 169,200 0 0 0 169,200 241,497 158,916
LIFE OF EVALUATION IS 23.50 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 268
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #5 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 412,725
FINAL - 1.000000 0.656250 4.22 10.00% - 105,099
REMARKS - 15.00% - 27,890
20.00% - 7,642
25.00% - 2,147
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 689 0 0 452.127 0.00 4.22
TOTAL 0 0 689 0 0 452.127 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 689
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 1,907,974 0 1,907,974 0 57,239 1,850,735
TOTAL 0 0 1,907,974 0 1,907,974 0 57,239 1,850,735
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 122,747 0 20,000 0 142,747 1,707,988 1,707,988 105,099
TOTAL 122,747 0 20,000 0 142,747 1,707,988 105,099
LIFE OF EVALUATION IS 40.55 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 269
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 6-T1S-R75E PROVED
STEPHEN LAWSON #6 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 1,119,268
FINAL - 1.000000 0.656250 4.22 10.00% - 798,300
REMARKS - 15.00% - 603,331
20.00% - 474,239
25.00% - 382,936
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 124 0 0 81.469 0.00 4.22
2005 1 0 0 78 0 0 50.916 0.00 4.22
2006 1 0 0 59 0 0 38.950 0.00 4.22
2007 1 0 0 49 0 0 32.221 0.00 4.22
2008 1 0 0 43 0 0 27.811 0.00 4.22
2009 1 0 0 37 0 0 24.657 0.00 4.22
2010 1 0 0 34 0 0 22.269 0.00 4.22
2011 1 0 0 31 0 0 20.387 0.00 4.22
2012 1 0 0 29 0 0 18.858 0.00 4.22
2013 1 0 0 27 0 0 17.587 0.00 4.22
2014 1 0 0 25 0 0 16.511 0.00 4.22
2015 1 0 0 24 0 0 15.586 0.00 4.22
2016 1 0 0 22 0 0 14.778 0.00 4.22
2017 1 0 0 21 0 0 14.039 0.00 4.22
SUB-TOTAL 0 0 603 0 0 396.039 0.00 4.22
REMAINDER 0 0 173 0 0 113.208 0.00 4.22
TOTAL 0 0 776 0 0 509.247 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 776
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 343,800 0 343,800 0 10,314 333,486
2005 0 0 214,864 0 214,864 0 6,446 208,418
2006 0 0 164,371 0 164,371 0 4,931 159,440
2007 0 0 135,974 0 135,974 0 4,079 131,895
2008 0 0 117,365 0 117,365 0 3,521 113,844
2009 0 0 104,054 0 104,054 0 3,122 100,932
2010 0 0 93,977 0 93,977 0 2,819 91,158
2011 0 0 86,033 0 86,033 0 2,581 83,452
2012 0 0 79,582 0 79,582 0 2,388 77,194
2013 0 0 74,219 0 74,219 0 2,226 71,993
2014 0 0 69,678 0 69,678 0 2,090 67,588
2015 0 0 65,772 0 65,772 0 1,974 63,798
2016 0 0 62,365 0 62,365 0 1,871 60,494
2017 0 0 59,243 0 59,243 0 1,777 57,466
SUB-TOT 0 0 1,671,297 0 1,671,297 0 50,139 1,621,158
REMAIN 0 0 477,738 0 477,738 0 14,332 463,406
TOTAL 0 0 2,149,035 0 2,149,035 0 64,471 2,084,564
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 7,200 0 200,000 0 207,200 126,286 126,286 102,393
2005 7,200 0 0 0 7,200 201,218 327,504 157,372
2006 7,200 0 0 0 7,200 152,240 479,744 107,684
2007 7,200 0 0 0 7,200 124,695 604,439 79,804
2008 7,200 0 0 0 7,200 106,644 711,083 61,765
2009 7,200 0 0 0 7,200 93,732 804,815 49,133
2010 7,200 0 0 0 7,200 83,958 888,773 39,832
2011 7,200 0 0 0 7,200 76,252 965,025 32,744
2012 7,200 0 0 0 7,200 69,994 1,035,019 27,206
2013 7,200 0 0 0 7,200 64,793 1,099,812 22,795
2014 7,200 0 0 0 7,200 60,388 1,160,200 19,231
2015 7,200 0 0 0 7,200 56,598 1,216,798 16,315
2016 7,200 0 0 0 7,200 53,294 1,270,092 13,906
2017 7,200 0 0 0 7,200 50,266 1,320,358 11,872
SUBTOT 100,800 0 200,000 0 300,800 1,320,358 742,052
REMAIN 77,536 0 0 0 77,536 385,870 1,706,228 56,248
TOTAL 178,336 0 200,000 0 378,336 1,706,228 798,300
LIFE OF EVALUATION IS 25.77 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 270
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 7-T1S-R75E PROVED
STEPHEN LAWSON #7 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.656250 4.22 5.00% - 845,961
FINAL - 1.000000 0.656250 4.22 10.00% - 605,793
REMARKS - 15.00% - 454,913
20.00% - 353,446
25.00% - 281,338
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 101 0 0 66.114 0.00 4.22
2005 1 0 0 63 0 0 41.827 0.00 4.22
2006 1 0 0 49 0 0 32.116 0.00 4.22
2007 1 0 0 41 0 0 26.616 0.00 4.22
2008 1 0 0 35 0 0 22.999 0.00 4.22
2009 1 0 0 31 0 0 20.405 0.00 4.22
2010 1 0 0 28 0 0 18.439 0.00 4.22
2011 1 0 0 26 0 0 16.887 0.00 4.22
2012 1 0 0 24 0 0 15.625 0.00 4.22
2013 1 0 0 22 0 0 14.576 0.00 4.22
2014 1 0 0 21 0 0 13.687 0.00 4.22
2015 1 0 0 20 0 0 12.922 0.00 4.22
2016 1 0 0 18 0 0 12.254 0.00 4.22
2017 1 0 0 18 0 0 11.641 0.00 4.22
SUB-TOTAL 0 0 497 0 0 326.108 0.00 4.22
REMAINDER 0 0 103 0 0 67.643 0.00 4.22
TOTAL 0 0 600 0 0 393.751 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 600
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 279,001 0 279,001 0 8,370 270,631
2005 0 0 176,512 0 176,512 0 5,295 171,217
2006 0 0 135,530 0 135,530 0 4,066 131,464
2007 0 0 112,321 0 112,321 0 3,370 108,951
2008 0 0 97,054 0 97,054 0 2,912 94,142
2009 0 0 86,110 0 86,110 0 2,583 83,527
2010 0 0 77,812 0 77,812 0 2,334 75,478
2011 0 0 71,262 0 71,262 0 2,138 69,124
2012 0 0 65,939 0 65,939 0 1,978 63,961
2013 0 0 61,510 0 61,510 0 1,846 59,664
2014 0 0 57,757 0 57,757 0 1,732 56,025
2015 0 0 54,530 0 54,530 0 1,636 52,894
2016 0 0 51,711 0 51,711 0 1,551 50,160
2017 0 0 49,123 0 49,123 0 1,474 47,649
SUB-TOT 0 0 1,376,172 0 1,376,172 0 41,285 1,334,887
REMAIN 0 0 285,453 0 285,453 0 8,564 276,889
TOTAL 0 0 1,661,625 0 1,661,625 0 49,849 1,611,776
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 7,200 0 200,000 0 207,200 63,431 63,431 47,900
2005 7,200 0 0 0 7,200 164,017 227,448 128,275
2006 7,200 0 0 0 7,200 124,264 351,712 87,895
2007 7,200 0 0 0 7,200 101,751 453,463 65,120
2008 7,200 0 0 0 7,200 86,942 540,405 50,355
2009 7,200 0 0 0 7,200 76,327 616,732 40,010
2010 7,200 0 0 0 7,200 68,278 685,010 32,393
2011 7,200 0 0 0 7,200 61,924 746,934 26,592
2012 7,200 0 0 0 7,200 56,761 803,695 22,063
2013 7,200 0 0 0 7,200 52,464 856,159 18,458
2014 7,200 0 0 0 7,200 48,825 904,984 15,549
2015 7,200 0 0 0 7,200 45,694 950,678 13,171
2016 7,200 0 0 0 7,200 42,960 993,638 11,210
2017 7,200 0 0 0 7,200 40,449 1,034,087 9,554
SUBTOT 100,800 0 200,000 0 300,800 1,034,087 568,545
REMAIN 51,242 0 0 0 51,242 225,647 1,259,734 37,248
TOTAL 152,042 0 200,000 0 352,042 1,259,734 605,793
LIFE OF EVALUATION IS 22.12 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 271
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE OIL LEASE
TENGASCO, INC. - OPERATOR 10-T1S-R74E PROVED
T.J. HARRISON #1 (TRENTON) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO REMAINING ECONOMIC RESERVES. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 727 0 0
ULTIMATE 727 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 0.00 YEARS.
FINAL PRODUCTION RATE: 0 BBLS/MO
TENGASCO, INC. TABLE 272
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 4-T1S-R75E PROVED
WARREN REED #1 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 195,851
FINAL - 1.000000 0.875000 4.22 10.00% - 173,731
REMARKS - 15.00% - 154,468
20.00% - 137,654
25.00% - 122,944
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 24 0 0 20.577 0.00 4.22
2005 1 0 0 22 0 0 19.754 0.00 4.22
2006 1 0 0 22 0 0 18.964 0.00 4.22
2007 1 0 0 0 0 0 0.051 0.00 4.22
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 68 0 0 59.346 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 68 0 0 59.346 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 68
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 86,836 0 86,836 0 2,605 84,231
2005 0 0 83,362 0 83,362 0 2,501 80,861
2006 0 0 80,027 0 80,027 0 2,401 77,626
2007 0 0 215 0 215 0 6 209
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 250,440 0 250,440 0 7,513 242,927
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 250,440 0 250,440 0 7,513 242,927
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 7,200 0 0 0 7,200 77,031 77,031 66,394
2005 7,200 0 0 0 7,200 73,661 150,692 57,472
2006 7,200 0 0 0 7,200 70,426 221,118 49,739
2007 20 0 0 0 20 189 221,307 126
2008 0 0 0 0 0 0 221,307 0
2009 0 0 0 0 0 0 221,307 0
2010 0 0 0 0 0 0 221,307 0
2011 0 0 0 0 0 0 221,307 0
2012 0 0 0 0 0 0 221,307 0
2013 0 0 0 0 0 0 221,307 0
2014 0 0 0 0 0 0 221,307 0
2015 0 0 0 0 0 0 221,307 0
2016 0 0 0 0 0 0 221,307 0
2017 0 0 0 0 0 0 221,307 0
SUBTOT 21,620 0 0 0 21,620 221,307 173,731
REMAIN 0 0 0 0 0 0 221,307 0
TOTAL 21,620 0 0 0 21,620 221,307 173,731
LIFE OF EVALUATION IS 4.00 YEARS.
FINAL PRODUCTION RATE: 1.8 MMCF/MO
TENGASCO, INC. TABLE 273
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 4-T1S-R75E PROVED
WARREN REED #1 BP (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 926,318
FINAL - 1.000000 0.875000 4.22 10.00% - 673,415
REMARKS - 15.00% - 494,390
20.00% - 366,206
25.00% - 273,455
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 97 0 0 84.816 0.00 4.22
2008 1 0 0 81 0 0 70.654 0.00 4.22
2009 1 0 0 61 0 0 53.293 0.00 4.22
2010 1 0 0 46 0 0 40.198 0.00 4.22
2011 1 0 0 34 0 0 30.321 0.00 4.22
2012 1 0 0 26 0 0 22.871 0.00 4.22
2013 1 0 0 20 0 0 17.251 0.00 4.22
2014 1 0 0 15 0 0 13.012 0.00 4.22
2015 1 0 0 3 0 0 2.708 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 383 0 0 335.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 383 0 0 335.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 383
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 357,925 0 357,925 0 10,738 347,187
2008 0 0 298,160 0 298,160 0 8,945 289,215
2009 0 0 224,897 0 224,897 0 6,746 218,151
2010 0 0 169,637 0 169,637 0 5,090 164,547
2011 0 0 127,954 0 127,954 0 3,838 124,116
2012 0 0 96,515 0 96,515 0 2,896 93,619
2013 0 0 72,799 0 72,799 0 2,184 70,615
2014 0 0 54,912 0 54,912 0 1,647 53,265
2015 0 0 11,429 0 11,429 0 343 11,086
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,414,228 0 1,414,228 0 42,427 1,371,801
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,414,228 0 1,414,228 0 42,427 1,371,801
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 6,600 0 25,000 0 31,600 315,587 315,587 200,599
2008 7,200 0 0 0 7,200 282,015 597,602 163,535
2009 7,200 0 0 0 7,200 210,951 808,553 110,734
2010 7,200 0 0 0 7,200 157,347 965,900 74,768
2011 7,200 0 0 0 7,200 116,916 1,082,816 50,293
2012 7,200 0 0 0 7,200 86,419 1,169,235 33,651
2013 7,200 0 0 0 7,200 63,415 1,232,650 22,355
2014 7,200 0 0 0 7,200 46,065 1,278,715 14,701
2015 1,793 0 0 0 1,793 9,293 1,288,008 2,779
2016 0 0 0 0 0 0 1,288,008 0
2017 0 0 0 0 0 0 1,288,008 0
SUBTOT 58,793 0 25,000 0 83,793 1,288,008 673,415
REMAIN 0 0 0 0 0 0 1,288,008 0
TOTAL 58,793 0 25,000 0 83,793 1,288,008 673,415
LIFE OF EVALUATION IS 12.25 YEARS.
FINAL PRODUCTION RATE: 1.0 MMCF/MO
TENGASCO, INC. TABLE 274
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 (KNOX) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.781250 4.22 5.00% - 1,908,000
FINAL - 1.000000 0.781250 4.22 10.00% - 1,395,413
REMARKS - 15.00% - 1,113,741
20.00% - 935,091
25.00% - 810,692
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 102 0 0 79.460 0.00 4.22
2004 1 0 0 78 0 0 61.053 0.00 4.22
2005 1 0 0 65 0 0 50.615 0.00 4.22
2006 1 0 0 56 0 0 43.744 0.00 4.22
2007 1 0 0 49 0 0 38.817 0.00 4.22
2008 1 0 0 45 0 0 35.079 0.00 4.22
2009 1 0 0 41 0 0 32.129 0.00 4.22
2010 1 0 0 38 0 0 29.731 0.00 4.22
2011 1 0 0 36 0 0 27.735 0.00 4.22
2012 1 0 0 33 0 0 26.044 0.00 4.22
2013 1 0 0 32 0 0 24.589 0.00 4.22
2014 1 0 0 30 0 0 23.319 0.00 4.22
2015 1 0 0 28 0 0 22.152 0.00 4.22
2016 1 0 0 27 0 0 21.044 0.00 4.22
2017 1 0 0 25 0 0 19.992 0.00 4.22
SUB-TOTAL 0 0 685 0 0 535.503 0.00 4.22
REMAINDER 0 0 370 0 0 288.466 0.00 4.22
TOTAL 0 0 1,055 0 0 823.969 0.00 4.22
CUMULATIVE 0 0 369
ULTIMATE 0 0 1,424
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 335,322 0 335,322 0 10,060 325,262
2004 0 0 257,645 0 257,645 0 7,729 249,916
2005 0 0 213,596 0 213,596 0 6,408 207,188
2006 0 0 184,602 0 184,602 0 5,538 179,064
2007 0 0 163,807 0 163,807 0 4,914 158,893
2008 0 0 148,035 0 148,035 0 4,441 143,594
2009 0 0 135,586 0 135,586 0 4,068 131,518
2010 0 0 125,463 0 125,463 0 3,764 121,699
2011 0 0 117,043 0 117,043 0 3,511 113,532
2012 0 0 109,906 0 109,906 0 3,297 106,609
2013 0 0 103,768 0 103,768 0 3,113 100,655
2014 0 0 98,406 0 98,406 0 2,952 95,454
2015 0 0 93,481 0 93,481 0 2,805 90,676
2016 0 0 88,808 0 88,808 0 2,664 86,144
2017 0 0 84,367 0 84,367 0 2,531 81,836
SUB-TOT 0 0 2,259,835 0 2,259,835 0 67,795 2,192,040
REMAIN 0 0 1,217,328 0 1,217,328 0 36,520 1,180,808
TOTAL 0 0 3,477,163 0 3,477,163 0 104,315 3,372,848
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 7,200 0 0 0 7,200 318,062 318,062 303,553
2004 7,200 0 0 0 7,200 242,716 560,778 209,505
2005 7,200 0 0 0 7,200 199,988 760,766 156,193
2006 7,200 0 0 0 7,200 171,864 932,630 121,472
2007 7,200 0 0 0 7,200 151,693 1,084,323 97,035
2008 7,200 0 0 0 7,200 136,394 1,220,717 78,969
2009 7,200 0 0 0 7,200 124,318 1,345,035 65,148
2010 7,200 0 0 0 7,200 114,499 1,459,534 54,311
2011 7,200 0 0 0 7,200 106,332 1,565,866 45,653
2012 7,200 0 0 0 7,200 99,409 1,665,275 38,634
2013 7,200 0 0 0 7,200 93,455 1,758,730 32,875
2014 7,200 0 0 0 7,200 88,254 1,846,984 28,103
2015 7,200 0 0 0 7,200 83,476 1,930,460 24,061
2016 7,200 0 0 0 7,200 78,944 2,009,404 20,598
2017 7,200 0 0 0 7,200 74,636 2,084,040 17,629
SUBTOT 108,000 0 0 0 108,000 2,084,040 1,293,739
REMAIN 199,982 0 0 0 199,982 980,826 3,064,866 101,674
TOTAL 307,982 0 0 0 307,982 3,064,866 1,395,413
LIFE OF EVALUATION IS 42.78 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 275
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 BP1 (KNOX) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.781250 4.22 5.00% - 369,817
FINAL - 1.000000 0.781250 4.22 10.00% - 39,247
REMARKS - 15.00% - 4,242
20.00% - 466
25.00% - 52
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 1,139 0 0 890.153 0.00 4.22
TOTAL 0 0 1,139 0 0 890.153 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 1,139
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 3,756,446 0 3,756,446 0 112,693 3,643,753
TOTAL 0 0 3,756,446 0 3,756,446 0 112,693 3,643,753
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 51,600 0 40,000 0 91,600 3,552,153 3,552,153 39,247
TOTAL 51,600 0 40,000 0 91,600 3,552,153 39,247
LIFE OF EVALUATION IS 50.00 YEARS.
FINAL PRODUCTION RATE: 6.8 MMCF/MO
TENGASCO, INC. TABLE 276
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
WARREN REED #2 BP2 (SR-MFB) BEHIND PIPE
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 5.00% - 0
FINAL - 1.000000 10.00% - 0
REMARKS - NO RESERVES SHOWN BEYOND ECONOMIC LIFE OF FIELD. 15.00% - 0
20.00% - 0
25.00% - 0
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 0 0 0 0 0 0.000 0.00 0.00
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 0 0 0 0.000 0.00 0.00
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 0 0 0 0.000 0.00 0.00
CUMULATIVE 0 0 0
ULTIMATE 0 0 0
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0 0
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 0 0 0 0 0 0
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUBTOT 0 0 0 0 0 0 0
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 0 0 0 0 0
LIFE OF EVALUATION IS 49.92 YEARS.
FINAL PRODUCTION RATE: 0.0 MMCF/MO
TENGASCO, INC. TABLE 277
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 12-T1S-R74E PROVED
WELLS/YEARY #1 (REEDSVILLE-TRENTON) PRODUCING
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.437500 4.22 5.00% - 102,347
FINAL - 0.500000 0.437500 4.22 10.00% - 80,321
REMARKS - 15.00% - 65,861
20.00% - 55,761
25.00% - 48,350
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 11 0 0 5.002 0.00 4.22
2004 1 0 0 11 0 0 4.504 0.00 4.22
2005 1 0 0 9 0 0 4.078 0.00 4.22
2006 1 0 0 9 0 0 3.710 0.00 4.22
2007 1 0 0 7 0 0 3.390 0.00 4.22
2008 1 0 0 7 0 0 3.111 0.00 4.22
2009 1 0 0 7 0 0 2.866 0.00 4.22
2010 1 0 0 6 0 0 2.648 0.00 4.22
2011 1 0 0 6 0 0 2.455 0.00 4.22
2012 1 0 0 5 0 0 2.283 0.00 4.22
2013 1 0 0 5 0 0 2.128 0.00 4.22
2014 1 0 0 4 0 0 1.989 0.00 4.22
2015 1 0 0 4 0 0 1.864 0.00 4.22
2016 1 0 0 4 0 0 1.750 0.00 4.22
2017 1 0 0 4 0 0 1.646 0.00 4.22
SUB-TOTAL 0 0 99 0 0 43.424 0.00 4.22
REMAINDER 0 0 32 0 0 14.017 0.00 4.22
TOTAL 0 0 131 0 0 57.441 0.00 4.22
CUMULATIVE 0 0 36
ULTIMATE 0 0 167
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 21,110 0 21,110 0 633 20,477
2004 0 0 19,007 0 19,007 0 571 18,436
2005 0 0 17,208 0 17,208 0 516 16,692
2006 0 0 15,655 0 15,655 0 469 15,186
2007 0 0 14,308 0 14,308 0 430 13,878
2008 0 0 13,129 0 13,129 0 394 12,735
2009 0 0 12,093 0 12,093 0 362 11,731
2010 0 0 11,176 0 11,176 0 336 10,840
2011 0 0 10,361 0 10,361 0 310 10,051
2012 0 0 9,634 0 9,634 0 289 9,345
2013 0 0 8,982 0 8,982 0 270 8,712
2014 0 0 8,395 0 8,395 0 252 8,143
2015 0 0 7,864 0 7,864 0 236 7,628
2016 0 0 7,383 0 7,383 0 221 7,162
2017 0 0 6,945 0 6,945 0 209 6,736
SUB-TOT 0 0 183,250 0 183,250 0 5,498 177,752
REMAIN 0 0 59,154 0 59,154 0 1,774 57,380
TOTAL 0 0 242,404 0 242,404 0 7,272 235,132
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 0 0 3,600 16,877 16,877 16,081
2004 3,600 0 0 0 3,600 14,836 31,713 12,796
2005 3,600 0 0 0 3,600 13,092 44,805 10,221
2006 3,600 0 0 0 3,600 11,586 56,391 8,188
2007 3,600 0 0 0 3,600 10,278 66,669 6,575
2008 3,600 0 0 0 3,600 9,135 75,804 5,290
2009 3,600 0 0 0 3,600 8,131 83,935 4,262
2010 3,600 0 0 0 3,600 7,240 91,175 3,435
2011 3,600 0 0 0 3,600 6,451 97,626 2,771
2012 3,600 0 0 0 3,600 5,745 103,371 2,234
2013 3,600 0 0 0 3,600 5,112 108,483 1,799
2014 3,600 0 0 0 3,600 4,543 113,026 1,447
2015 3,600 0 0 0 3,600 4,028 117,054 1,162
2016 3,600 0 0 0 3,600 3,562 120,616 930
2017 3,600 0 0 0 3,600 3,136 123,752 741
SUBTOT 54,000 0 0 0 54,000 123,752 77,932
REMAIN 42,600 0 0 0 42,600 14,780 138,532 2,389
TOTAL 96,600 0 0 0 96,600 138,532 80,321
LIFE OF EVALUATION IS 26.83 YEARS.
FINAL PRODUCTION RATE: 0.2 MMCF/MO
TENGASCO, INC. TABLE 278
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
MILLER PETROLEUM - OPERATOR 14-T1S-R74E PROVED
WOODROW DAVIS #1 (KNOX) SHUT-IN
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 0.500000 0.438125 4.22 5.00% - 307,281
FINAL - 0.500000 0.438125 4.22 10.00% - 233,895
REMARKS - 15.00% - 186,403
20.00% - 153,527
25.00% - 129,487
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 44 0 0 19.482 0.00 4.22
2005 1 0 0 30 0 0 12.988 0.00 4.22
2006 1 0 0 23 0 0 10.145 0.00 4.22
2007 1 0 0 20 0 0 8.481 0.00 4.22
2008 1 0 0 16 0 0 7.367 0.00 4.22
2009 1 0 0 15 0 0 6.560 0.00 4.22
2010 1 0 0 14 0 0 5.943 0.00 4.22
2011 1 0 0 12 0 0 5.453 0.00 4.22
2012 1 0 0 12 0 0 5.053 0.00 4.22
2013 1 0 0 11 0 0 4.720 0.00 4.22
2014 1 0 0 10 0 0 4.436 0.00 4.22
2015 1 0 0 9 0 0 4.192 0.00 4.22
2016 1 0 0 9 0 0 3.977 0.00 4.22
2017 1 0 0 9 0 0 3.778 0.00 4.22
SUB-TOTAL 0 0 234 0 0 102.575 0.00 4.22
REMAINDER 0 0 47 0 0 20.538 0.00 4.22
TOTAL 0 0 281 0 0 123.113 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 281
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 82,213 0 82,213 0 2,466 79,747
2005 0 0 54,808 0 54,808 0 1,645 53,163
2006 0 0 42,812 0 42,812 0 1,284 41,528
2007 0 0 35,791 0 35,791 0 1,074 34,717
2008 0 0 31,089 0 31,089 0 932 30,157
2009 0 0 27,683 0 27,683 0 831 26,852
2010 0 0 25,078 0 25,078 0 752 24,326
2011 0 0 23,012 0 23,012 0 691 22,321
2012 0 0 21,325 0 21,325 0 639 20,686
2013 0 0 19,917 0 19,917 0 598 19,319
2014 0 0 18,721 0 18,721 0 561 18,160
2015 0 0 17,689 0 17,689 0 531 17,158
2016 0 0 16,783 0 16,783 0 504 16,279
2017 0 0 15,945 0 15,945 0 478 15,467
SUB-TOT 0 0 432,866 0 432,866 0 12,986 419,880
REMAIN 0 0 86,671 0 86,671 0 2,600 84,071
TOTAL 0 0 519,537 0 519,537 0 15,586 503,951
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 0 0 3,600 76,147 76,147 65,916
2005 3,600 0 0 0 3,600 49,563 125,710 38,756
2006 3,600 0 0 0 3,600 37,928 163,638 26,827
2007 3,600 0 0 0 3,600 31,117 194,755 19,915
2008 3,600 0 0 0 3,600 26,557 221,312 15,381
2009 3,600 0 0 0 3,600 23,252 244,564 12,189
2010 3,600 0 0 0 3,600 20,726 265,290 9,834
2011 3,600 0 0 0 3,600 18,721 284,011 8,039
2012 3,600 0 0 0 3,600 17,086 301,097 6,642
2013 3,600 0 0 0 3,600 15,719 316,816 5,530
2014 3,600 0 0 0 3,600 14,560 331,376 4,637
2015 3,600 0 0 0 3,600 13,558 344,934 3,909
2016 3,600 0 0 0 3,600 12,679 357,613 3,308
2017 3,600 0 0 0 3,600 11,867 369,480 2,803
SUBTOT 50,400 0 0 0 50,400 369,480 223,686
REMAIN 23,653 0 0 0 23,653 60,418 429,898 10,209
TOTAL 74,053 0 0 0 74,053 429,898 233,895
LIFE OF EVALUATION IS 21.57 YEARS.
FINAL PRODUCTION RATE: 0.5 MMCF/MO
TENGASCO, INC. TABLE 279
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 4 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,209,355
FINAL - 1.000000 0.875000 4.22 10.00% - 974,545
REMARKS - 15.00% - 803,217
20.00% - 674,518
25.00% - 575,227
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 52 0 0 45.425 0.00 4.22
2004 1 0 0 107 0 0 93.452 0.00 4.22
2005 1 0 0 63 0 0 55.703 0.00 4.22
2006 1 0 0 48 0 0 42.052 0.00 4.22
2007 1 0 0 40 0 0 34.565 0.00 4.22
2008 1 0 0 34 0 0 29.721 0.00 4.22
2009 1 0 0 30 0 0 26.284 0.00 4.22
2010 1 0 0 27 0 0 23.696 0.00 4.22
2011 1 0 0 25 0 0 21.664 0.00 4.22
2012 1 0 0 23 0 0 20.018 0.00 4.22
2013 1 0 0 21 0 0 18.653 0.00 4.22
2014 1 0 0 20 0 0 17.500 0.00 4.22
2015 1 0 0 19 0 0 16.510 0.00 4.22
2016 1 0 0 2 0 0 1.883 0.00 4.22
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 511 0 0 447.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 511 0 0 447.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 511
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 191,692 0 191,692 0 5,751 185,941
2004 0 0 394,368 0 394,368 0 11,831 382,537
2005 0 0 235,069 0 235,069 0 7,052 228,017
2006 0 0 177,458 0 177,458 0 5,324 172,134
2007 0 0 145,863 0 145,863 0 4,375 141,488
2008 0 0 125,421 0 125,421 0 3,763 121,658
2009 0 0 110,917 0 110,917 0 3,328 107,589
2010 0 0 99,996 0 99,996 0 3,000 96,996
2011 0 0 91,420 0 91,420 0 2,742 88,678
2012 0 0 84,476 0 84,476 0 2,534 81,942
2013 0 0 78,718 0 78,718 0 2,362 76,356
2014 0 0 73,850 0 73,850 0 2,215 71,635
2015 0 0 69,672 0 69,672 0 2,091 67,581
2016 0 0 7,947 0 7,947 0 238 7,709
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,886,867 0 1,886,867 0 56,606 1,830,261
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,886,867 0 1,886,867 0 56,606 1,830,261
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,800 0 200,000 0 201,800 -15,859 -15,859 -15,901
2004 7,200 0 0 0 7,200 375,337 359,478 325,421
2005 7,200 0 0 0 7,200 220,817 580,295 172,727
2006 7,200 0 0 0 7,200 164,934 745,229 116,671
2007 7,200 0 0 0 7,200 134,288 879,517 85,947
2008 7,200 0 0 0 7,200 114,458 993,975 66,292
2009 7,200 0 0 0 7,200 100,389 1,094,364 52,623
2010 7,200 0 0 0 7,200 89,796 1,184,160 42,602
2011 7,200 0 0 0 7,200 81,478 1,265,638 34,988
2012 7,200 0 0 0 7,200 74,742 1,340,380 29,052
2013 7,200 0 0 0 7,200 69,156 1,409,536 24,330
2014 7,200 0 0 0 7,200 64,435 1,473,971 20,520
2015 7,200 0 0 0 7,200 60,381 1,534,352 17,405
2016 847 0 0 0 847 6,862 1,541,214 1,868
2017 0 0 0 0 0 0 1,541,214 0
SUBTOT 89,047 0 200,000 0 289,047 1,541,214 974,545
REMAIN 0 0 0 0 0 0 1,541,214 0
TOTAL 89,047 0 200,000 0 289,047 1,541,214 974,545
LIFE OF EVALUATION IS 13.12 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 280
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 5 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 2,245,413
FINAL - 1.000000 0.875000 4.22 10.00% - 1,754,737
REMARKS - 15.00% - 1,438,836
20.00% - 1,219,840
25.00% - 1,058,607
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 144 0 0 126.233 0.00 4.22
2004 1 0 0 135 0 0 117.998 0.00 4.22
2005 1 0 0 86 0 0 75.506 0.00 4.22
2006 1 0 0 67 0 0 58.181 0.00 4.22
2007 1 0 0 55 0 0 48.303 0.00 4.22
2008 1 0 0 48 0 0 41.782 0.00 4.22
2009 1 0 0 42 0 0 37.097 0.00 4.22
2010 1 0 0 39 0 0 33.539 0.00 4.22
2011 1 0 0 35 0 0 30.728 0.00 4.22
2012 1 0 0 32 0 0 28.441 0.00 4.22
2013 1 0 0 31 0 0 26.537 0.00 4.22
2014 1 0 0 28 0 0 24.923 0.00 4.22
2015 1 0 0 27 0 0 23.534 0.00 4.22
2016 1 0 0 25 0 0 22.324 0.00 4.22
2017 1 0 0 25 0 0 21.258 0.00 4.22
SUB-TOTAL 0 0 819 0 0 716.384 0.00 4.22
REMAINDER 0 0 138 0 0 120.992 0.00 4.22
TOTAL 0 0 957 0 0 837.376 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 957
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 532,705 0 532,705 0 15,981 516,724
2004 0 0 497,952 0 497,952 0 14,939 483,013
2005 0 0 318,635 0 318,635 0 9,559 309,076
2006 0 0 245,524 0 245,524 0 7,365 238,159
2007 0 0 203,838 0 203,838 0 6,116 197,722
2008 0 0 176,320 0 176,320 0 5,289 171,031
2009 0 0 156,549 0 156,549 0 4,697 151,852
2010 0 0 141,533 0 141,533 0 4,246 137,287
2011 0 0 129,670 0 129,670 0 3,890 125,780
2012 0 0 120,020 0 120,020 0 3,600 116,420
2013 0 0 111,985 0 111,985 0 3,360 108,625
2014 0 0 105,174 0 105,174 0 3,155 102,019
2015 0 0 99,313 0 99,313 0 2,980 96,333
2016 0 0 94,206 0 94,206 0 2,826 91,380
2017 0 0 89,709 0 89,709 0 2,691 87,018
SUB-TOT 0 0 3,023,133 0 3,023,133 0 90,694 2,932,439
REMAIN 0 0 510,587 0 510,587 0 15,318 495,269
TOTAL 0 0 3,533,720 0 3,533,720 0 106,012 3,427,708
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 3,600 0 200,000 0 203,600 313,124 313,124 288,589
2004 7,200 0 0 0 7,200 475,813 788,937 412,069
2005 7,200 0 0 0 7,200 301,876 1,090,813 236,068
2006 7,200 0 0 0 7,200 230,959 1,321,772 163,353
2007 7,200 0 0 0 7,200 190,522 1,512,294 121,927
2008 7,200 0 0 0 7,200 163,831 1,676,125 94,883
2009 7,200 0 0 0 7,200 144,652 1,820,777 75,821
2010 7,200 0 0 0 7,200 130,087 1,950,864 61,715
2011 7,200 0 0 0 7,200 118,580 2,069,444 50,919
2012 7,200 0 0 0 7,200 109,220 2,178,664 42,451
2013 7,200 0 0 0 7,200 101,425 2,280,089 35,683
2014 7,200 0 0 0 7,200 94,819 2,374,908 30,195
2015 7,200 0 0 0 7,200 89,133 2,464,041 25,693
2016 7,200 0 0 0 7,200 84,180 2,548,221 21,964
2017 7,200 0 0 0 7,200 79,818 2,628,039 18,851
SUBTOT 104,400 0 200,000 0 304,400 2,628,039 1,680,181
REMAIN 48,095 0 0 0 48,095 447,174 3,075,213 74,556
TOTAL 152,495 0 200,000 0 352,495 3,075,213 1,754,737
LIFE OF EVALUATION IS 21.68 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 281
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION # 8 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 3,105,654
FINAL - 1.000000 0.875000 4.22 10.00% - 2,316,318
REMARKS - 15.00% - 1,847,130
20.00% - 1,535,298
25.00% - 1,310,716
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 1 0 0 100 0 0 87.804 0.00 4.22
2004 1 0 0 208 0 0 181.646 0.00 4.22
2005 1 0 0 124 0 0 108.492 0.00 4.22
2006 1 0 0 94 0 0 81.946 0.00 4.22
2007 1 0 0 77 0 0 67.373 0.00 4.22
2008 1 0 0 66 0 0 57.940 0.00 4.22
2009 1 0 0 58 0 0 51.245 0.00 4.22
2010 1 0 0 53 0 0 46.202 0.00 4.22
2011 1 0 0 48 0 0 42.242 0.00 4.22
2012 1 0 0 45 0 0 39.035 0.00 4.22
2013 1 0 0 42 0 0 36.375 0.00 4.22
2014 1 0 0 39 0 0 34.127 0.00 4.22
2015 1 0 0 36 0 0 32.197 0.00 4.22
2016 1 0 0 35 0 0 30.518 0.00 4.22
2017 1 0 0 33 0 0 29.043 0.00 4.22
SUB-TOTAL 0 0 1,058 0 0 926.185 0.00 4.22
REMAINDER 0 0 350 0 0 305.814 0.00 4.22
TOTAL 0 0 1,408 0 0 1,231.999 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 1,408
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 370,535 0 370,535 0 11,116 359,419
2004 0 0 766,546 0 766,546 0 22,996 743,550
2005 0 0 457,834 0 457,834 0 13,735 444,099
2006 0 0 345,813 0 345,813 0 10,375 335,438
2007 0 0 284,315 0 284,315 0 8,529 275,786
2008 0 0 244,507 0 244,507 0 7,336 237,171
2009 0 0 216,253 0 216,253 0 6,487 209,766
2010 0 0 194,972 0 194,972 0 5,849 189,123
2011 0 0 178,262 0 178,262 0 5,348 172,914
2012 0 0 164,729 0 164,729 0 4,942 159,787
2013 0 0 153,505 0 153,505 0 4,605 148,900
2014 0 0 144,016 0 144,016 0 4,321 139,695
2015 0 0 135,871 0 135,871 0 4,076 131,795
2016 0 0 128,787 0 128,787 0 3,863 124,924
2017 0 0 122,562 0 122,562 0 3,677 118,885
SUB-TOT 0 0 3,908,507 0 3,908,507 0 117,255 3,791,252
REMAIN 0 0 1,290,533 0 1,290,533 0 38,716 1,251,817
TOTAL 0 0 5,199,040 0 5,199,040 0 155,971 5,043,069
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 1,800 0 200,000 0 201,800 157,619 157,619 143,249
2004 7,200 0 0 0 7,200 736,350 893,969 638,364
2005 7,200 0 0 0 7,200 436,899 1,330,868 341,733
2006 7,200 0 0 0 7,200 328,238 1,659,106 232,178
2007 7,200 0 0 0 7,200 268,586 1,927,692 171,893
2008 7,200 0 0 0 7,200 229,971 2,157,663 133,191
2009 7,200 0 0 0 7,200 202,566 2,360,229 106,179
2010 7,200 0 0 0 7,200 181,923 2,542,152 86,308
2011 7,200 0 0 0 7,200 165,714 2,707,866 71,159
2012 7,200 0 0 0 7,200 152,587 2,860,453 59,307
2013 7,200 0 0 0 7,200 141,700 3,002,153 49,851
2014 7,200 0 0 0 7,200 132,495 3,134,648 42,193
2015 7,200 0 0 0 7,200 124,595 3,259,243 35,915
2016 7,200 0 0 0 7,200 117,724 3,376,967 30,716
2017 7,200 0 0 0 7,200 111,685 3,488,652 26,378
SUBTOT 102,600 0 200,000 0 302,600 3,488,652 2,168,614
REMAIN 102,927 0 0 0 102,927 1,148,890 4,637,542 147,704
TOTAL 205,527 0 200,000 0 405,527 4,637,542 2,316,318
LIFE OF EVALUATION IS 29.30 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 282
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #12 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 530,231
FINAL - 1.000000 0.875000 4.22 10.00% - 428,710
REMARKS - 15.00% - 349,162
20.00% - 286,234
25.00% - 236,000
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 68 0 0 59.188 0.00 4.22
2005 1 0 0 48 0 0 42.459 0.00 4.22
2006 1 0 0 36 0 0 31.263 0.00 4.22
2007 1 0 0 29 0 0 25.403 0.00 4.22
2008 1 0 0 25 0 0 21.698 0.00 4.22
2009 1 0 0 22 0 0 19.105 0.00 4.22
2010 1 0 0 19 0 0 17.171 0.00 4.22
2011 1 0 0 8 0 0 6.839 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 249,772 0 249,772 0 7,493 242,279
2005 0 0 179,176 0 179,176 0 5,375 173,801
2006 0 0 131,932 0 131,932 0 3,958 127,974
2007 0 0 107,200 0 107,200 0 3,216 103,984
2008 0 0 91,564 0 91,564 0 2,747 88,817
2009 0 0 80,622 0 80,622 0 2,419 78,203
2010 0 0 72,460 0 72,460 0 2,174 70,286
2011 0 0 28,861 0 28,861 0 866 27,995
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,000 0 200,000 0 206,000 36,279 36,279 25,519
2005 7,200 0 0 0 7,200 166,601 202,880 130,364
2006 7,200 0 0 0 7,200 120,774 323,654 85,447
2007 7,200 0 0 0 7,200 96,784 420,438 61,949
2008 7,200 0 0 0 7,200 81,617 502,055 47,275
2009 7,200 0 0 0 7,200 71,003 573,058 37,221
2010 7,200 0 0 0 7,200 63,086 636,144 29,932
2011 3,068 0 0 0 3,068 24,927 661,071 11,003
2012 0 0 0 0 0 0 661,071 0
2013 0 0 0 0 0 0 661,071 0
2014 0 0 0 0 0 0 661,071 0
2015 0 0 0 0 0 0 661,071 0
2016 0 0 0 0 0 0 661,071 0
2017 0 0 0 0 0 0 661,071 0
SUBTOT 52,268 0 200,000 0 252,268 661,071 428,710
REMAIN 0 0 0 0 0 0 661,071 0
TOTAL 52,268 0 200,000 0 252,268 661,071 428,710
LIFE OF EVALUATION IS 8.43 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 283
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #13 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 530,231
FINAL - 1.000000 0.875000 4.22 10.00% - 428,710
REMARKS - 15.00% - 349,162
20.00% - 286,234
25.00% - 236,000
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 68 0 0 59.188 0.00 4.22
2005 1 0 0 48 0 0 42.459 0.00 4.22
2006 1 0 0 36 0 0 31.263 0.00 4.22
2007 1 0 0 29 0 0 25.403 0.00 4.22
2008 1 0 0 25 0 0 21.698 0.00 4.22
2009 1 0 0 22 0 0 19.105 0.00 4.22
2010 1 0 0 19 0 0 17.171 0.00 4.22
2011 1 0 0 8 0 0 6.839 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 249,772 0 249,772 0 7,493 242,279
2005 0 0 179,176 0 179,176 0 5,375 173,801
2006 0 0 131,932 0 131,932 0 3,958 127,974
2007 0 0 107,200 0 107,200 0 3,216 103,984
2008 0 0 91,564 0 91,564 0 2,747 88,817
2009 0 0 80,622 0 80,622 0 2,419 78,203
2010 0 0 72,460 0 72,460 0 2,174 70,286
2011 0 0 28,861 0 28,861 0 866 27,995
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,000 0 200,000 0 206,000 36,279 36,279 25,519
2005 7,200 0 0 0 7,200 166,601 202,880 130,364
2006 7,200 0 0 0 7,200 120,774 323,654 85,447
2007 7,200 0 0 0 7,200 96,784 420,438 61,949
2008 7,200 0 0 0 7,200 81,617 502,055 47,275
2009 7,200 0 0 0 7,200 71,003 573,058 37,221
2010 7,200 0 0 0 7,200 63,086 636,144 29,932
2011 3,068 0 0 0 3,068 24,927 661,071 11,003
2012 0 0 0 0 0 0 661,071 0
2013 0 0 0 0 0 0 661,071 0
2014 0 0 0 0 0 0 661,071 0
2015 0 0 0 0 0 0 661,071 0
2016 0 0 0 0 0 0 661,071 0
2017 0 0 0 0 0 0 661,071 0
SUBTOT 52,268 0 200,000 0 252,268 661,071 428,710
REMAIN 0 0 0 0 0 0 661,071 0
TOTAL 52,268 0 200,000 0 252,268 661,071 428,710
LIFE OF EVALUATION IS 8.43 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 284
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #14 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 188,356
FINAL - 1.000000 0.875000 4.22 10.00% - 155,702
REMARKS - 15.00% - 128,377
20.00% - 105,480
25.00% - 86,269
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 50 0 0 43.672 0.00 4.22
2005 1 0 0 33 0 0 29.387 0.00 4.22
2006 1 0 0 25 0 0 21.266 0.00 4.22
2007 1 0 0 19 0 0 16.800 0.00 4.22
2008 0 0 0 0 0 0.000 0.00 0.00
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 184,295 0 184,295 0 5,529 178,766
2005 0 0 124,013 0 124,013 0 3,720 120,293
2006 0 0 89,741 0 89,741 0 2,692 87,049
2007 0 0 70,898 0 70,898 0 2,127 68,771
2008 0 0 0 0 0 0 0 0
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,000 0 200,000 0 206,000 -27,234 -27,234 -28,874
2005 7,200 0 0 0 7,200 113,093 85,859 88,521
2006 7,200 0 0 0 7,200 79,849 165,708 56,501
2007 7,041 0 0 0 7,041 61,730 227,438 39,554
2008 0 0 0 0 0 0 227,438 0
2009 0 0 0 0 0 0 227,438 0
2010 0 0 0 0 0 0 227,438 0
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 155,702
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 155,702
LIFE OF EVALUATION IS 4.98 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 285
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #15 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 191,123
FINAL - 1.000000 0.875000 4.22 10.00% - 157,989
REMARKS - 15.00% - 130,277
20.00% - 107,066
25.00% - 87,600
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 50 0 0 43.775 0.00 4.22
2005 1 0 0 34 0 0 29.508 0.00 4.22
2006 1 0 0 24 0 0 21.363 0.00 4.22
2007 1 0 0 20 0 0 17.230 0.00 4.22
2008 1 0 0 0 0 0 0.124 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 184,731 0 184,731 0 5,542 179,189
2005 0 0 124,524 0 124,524 0 3,736 120,788
2006 0 0 90,151 0 90,151 0 2,704 87,447
2007 0 0 72,710 0 72,710 0 2,181 70,529
2008 0 0 524 0 524 0 16 508
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,000 0 200,000 0 206,000 -26,811 -26,811 -28,514
2005 7,200 0 0 0 7,200 113,588 86,777 88,908
2006 7,200 0 0 0 7,200 80,247 167,024 56,782
2007 7,200 0 0 0 7,200 63,329 230,353 40,540
2008 57 0 0 0 57 451 230,804 273
2009 0 0 0 0 0 0 230,804 0
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 157,989
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 157,989
LIFE OF EVALUATION IS 5.01 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 286
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #16 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 426,876
FINAL - 1.000000 0.875000 4.22 10.00% - 343,848
REMARKS - 15.00% - 278,290
20.00% - 226,185
25.00% - 184,511
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 44 0 0 38.689 0.00 4.22
2005 1 0 0 52 0 0 45.655 0.00 4.22
2006 1 0 0 36 0 0 31.208 0.00 4.22
2007 1 0 0 28 0 0 24.598 0.00 4.22
2008 1 0 0 24 0 0 20.661 0.00 4.22
2009 1 0 0 20 0 0 18.000 0.00 4.22
2010 1 0 0 13 0 0 11.063 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 217 0 0 189.874 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 217 0 0 189.874 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 217
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 163,267 0 163,267 0 4,898 158,369
2005 0 0 192,666 0 192,666 0 5,780 186,886
2006 0 0 131,696 0 131,696 0 3,951 127,745
2007 0 0 103,803 0 103,803 0 3,114 100,689
2008 0 0 87,192 0 87,192 0 2,616 84,576
2009 0 0 75,961 0 75,961 0 2,279 73,682
2010 0 0 46,687 0 46,687 0 1,400 45,287
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 801,272 0 801,272 0 24,038 777,234
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 801,272 0 801,272 0 24,038 777,234
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 200,000 0 203,600 -45,231 -45,231 -41,210
2005 7,200 0 0 0 7,200 179,686 134,455 140,744
2006 7,200 0 0 0 7,200 120,545 255,000 85,315
2007 7,200 0 0 0 7,200 93,489 348,489 59,853
2008 7,200 0 0 0 7,200 77,376 425,865 44,824
2009 7,200 0 0 0 7,200 66,482 492,347 34,854
2010 4,879 0 0 0 4,879 40,408 532,755 19,468
2011 0 0 0 0 0 0 532,755 0
2012 0 0 0 0 0 0 532,755 0
2013 0 0 0 0 0 0 532,755 0
2014 0 0 0 0 0 0 532,755 0
2015 0 0 0 0 0 0 532,755 0
2016 0 0 0 0 0 0 532,755 0
2017 0 0 0 0 0 0 532,755 0
SUBTOT 44,479 0 200,000 0 244,479 532,755 343,848
REMAIN 0 0 0 0 0 0 532,755 0
TOTAL 44,479 0 200,000 0 244,479 532,755 343,848
LIFE OF EVALUATION IS 7.68 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 287
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #17 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 824,192
FINAL - 1.000000 0.875000 4.22 10.00% - 632,540
REMARKS - 15.00% - 493,823
20.00% - 391,284
25.00% - 313,994
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 53 0 0 46.080 0.00 4.22
2005 1 0 0 68 0 0 59.781 0.00 4.22
2006 1 0 0 49 0 0 42.477 0.00 4.22
2007 1 0 0 38 0 0 33.992 0.00 4.22
2008 1 0 0 33 0 0 28.786 0.00 4.22
2009 1 0 0 29 0 0 25.208 0.00 4.22
2010 1 0 0 26 0 0 22.569 0.00 4.22
2011 1 0 0 23 0 0 20.528 0.00 4.22
2012 1 0 0 22 0 0 18.895 0.00 4.22
2013 1 0 0 20 0 0 17.552 0.00 4.22
2014 1 0 0 19 0 0 16.424 0.00 4.22
2015 1 0 0 3 0 0 2.832 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 383 0 0 335.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 383 0 0 335.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 383
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 194,460 0 194,460 0 5,834 188,626
2005 0 0 252,276 0 252,276 0 7,568 244,708
2006 0 0 179,254 0 179,254 0 5,378 173,876
2007 0 0 143,446 0 143,446 0 4,303 139,143
2008 0 0 121,478 0 121,478 0 3,644 117,834
2009 0 0 106,376 0 106,376 0 3,192 103,184
2010 0 0 95,241 0 95,241 0 2,857 92,384
2011 0 0 86,630 0 86,630 0 2,599 84,031
2012 0 0 79,735 0 79,735 0 2,392 77,343
2013 0 0 74,068 0 74,068 0 2,222 71,846
2014 0 0 69,311 0 69,311 0 2,079 67,232
2015 0 0 11,953 0 11,953 0 359 11,594
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,414,228 0 1,414,228 0 42,427 1,371,801
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,414,228 0 1,414,228 0 42,427 1,371,801
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 200,000 0 203,600 -14,974 -14,974 -15,818
2005 7,200 0 0 0 7,200 237,508 222,534 185,928
2006 7,200 0 0 0 7,200 166,676 389,210 117,939
2007 7,200 0 0 0 7,200 131,943 521,153 84,460
2008 7,200 0 0 0 7,200 110,634 631,787 64,085
2009 7,200 0 0 0 7,200 95,984 727,771 50,317
2010 7,200 0 0 0 7,200 85,184 812,955 40,416
2011 7,200 0 0 0 7,200 76,831 889,786 32,995
2012 7,200 0 0 0 7,200 70,143 959,929 27,264
2013 7,200 0 0 0 7,200 64,646 1,024,575 22,745
2014 7,200 0 0 0 7,200 60,032 1,084,607 19,118
2015 1,288 0 0 0 1,288 10,306 1,094,913 3,091
2016 0 0 0 0 0 0 1,094,913 0
2017 0 0 0 0 0 0 1,094,913 0
SUBTOT 76,888 0 200,000 0 276,888 1,094,913 632,540
REMAIN 0 0 0 0 0 0 1,094,913 0
TOTAL 76,888 0 200,000 0 276,888 1,094,913 632,540
LIFE OF EVALUATION IS 12.18 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 288
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #19 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 525,410
FINAL - 1.000000 0.875000 4.22 10.00% - 420,244
REMARKS - 15.00% - 338,581
20.00% - 274,583
25.00% - 223,987
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 49 0 0 42.457 0.00 4.22
2005 1 0 0 57 0 0 49.972 0.00 4.22
2006 1 0 0 39 0 0 34.126 0.00 4.22
2007 1 0 0 30 0 0 26.889 0.00 4.22
2008 1 0 0 26 0 0 22.582 0.00 4.22
2009 1 0 0 23 0 0 19.671 0.00 4.22
2010 1 0 0 20 0 0 17.548 0.00 4.22
2011 1 0 0 11 0 0 9.880 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 179,167 0 179,167 0 5,375 173,792
2005 0 0 210,883 0 210,883 0 6,327 204,556
2006 0 0 144,012 0 144,012 0 4,320 139,692
2007 0 0 113,472 0 113,472 0 3,404 110,068
2008 0 0 95,294 0 95,294 0 2,859 92,435
2009 0 0 83,011 0 83,011 0 2,490 80,521
2010 0 0 74,054 0 74,054 0 2,222 71,832
2011 0 0 41,694 0 41,694 0 1,251 40,443
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 200,000 0 203,600 -29,808 -29,808 -28,221
2005 7,200 0 0 0 7,200 197,356 167,548 154,584
2006 7,200 0 0 0 7,200 132,492 300,040 93,770
2007 7,200 0 0 0 7,200 102,868 402,908 65,856
2008 7,200 0 0 0 7,200 85,235 488,143 49,377
2009 7,200 0 0 0 7,200 73,321 561,464 38,439
2010 7,200 0 0 0 7,200 64,632 626,096 30,667
2011 4,392 0 0 0 4,392 36,051 662,147 15,772
2012 0 0 0 0 0 0 662,147 0
2013 0 0 0 0 0 0 662,147 0
2014 0 0 0 0 0 0 662,147 0
2015 0 0 0 0 0 0 662,147 0
2016 0 0 0 0 0 0 662,147 0
2017 0 0 0 0 0 0 662,147 0
SUBTOT 51,192 0 200,000 0 251,192 662,147 420,244
REMAIN 0 0 0 0 0 0 662,147 0
TOTAL 51,192 0 200,000 0 251,192 662,147 420,244
LIFE OF EVALUATION IS 8.61 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 289
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #20 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 525,410
FINAL - 1.000000 0.875000 4.22 10.00% - 420,244
REMARKS - 15.00% - 338,581
20.00% - 274,583
25.00% - 223,987
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 49 0 0 42.457 0.00 4.22
2005 1 0 0 57 0 0 49.972 0.00 4.22
2006 1 0 0 39 0 0 34.126 0.00 4.22
2007 1 0 0 30 0 0 26.889 0.00 4.22
2008 1 0 0 26 0 0 22.582 0.00 4.22
2009 1 0 0 23 0 0 19.671 0.00 4.22
2010 1 0 0 20 0 0 17.548 0.00 4.22
2011 1 0 0 11 0 0 9.880 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 179,167 0 179,167 0 5,375 173,792
2005 0 0 210,883 0 210,883 0 6,327 204,556
2006 0 0 144,012 0 144,012 0 4,320 139,692
2007 0 0 113,472 0 113,472 0 3,404 110,068
2008 0 0 95,294 0 95,294 0 2,859 92,435
2009 0 0 83,011 0 83,011 0 2,490 80,521
2010 0 0 74,054 0 74,054 0 2,222 71,832
2011 0 0 41,694 0 41,694 0 1,251 40,443
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 200,000 0 203,600 -29,808 -29,808 -28,221
2005 7,200 0 0 0 7,200 197,356 167,548 154,584
2006 7,200 0 0 0 7,200 132,492 300,040 93,770
2007 7,200 0 0 0 7,200 102,868 402,908 65,856
2008 7,200 0 0 0 7,200 85,235 488,143 49,377
2009 7,200 0 0 0 7,200 73,321 561,464 38,439
2010 7,200 0 0 0 7,200 64,632 626,096 30,667
2011 4,392 0 0 0 4,392 36,051 662,147 15,772
2012 0 0 0 0 0 0 662,147 0
2013 0 0 0 0 0 0 662,147 0
2014 0 0 0 0 0 0 662,147 0
2015 0 0 0 0 0 0 662,147 0
2016 0 0 0 0 0 0 662,147 0
2017 0 0 0 0 0 0 662,147 0
SUBTOT 51,192 0 200,000 0 251,192 662,147 420,244
REMAIN 0 0 0 0 0 0 662,147 0
TOTAL 51,192 0 200,000 0 251,192 662,147 420,244
LIFE OF EVALUATION IS 8.61 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 290
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #24 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 187,971
FINAL - 1.000000 0.875000 4.22 10.00% - 152,831
REMARKS - 15.00% - 123,962
20.00% - 100,216
25.00% - 80,665
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 34 0 0 30.136 0.00 4.22
2005 1 0 0 40 0 0 34.571 0.00 4.22
2006 1 0 0 27 0 0 23.394 0.00 4.22
2007 1 0 0 21 0 0 18.372 0.00 4.22
2008 1 0 0 6 0 0 5.527 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 127,173 0 127,173 0 3,815 123,358
2005 0 0 145,889 0 145,889 0 4,377 141,512
2006 0 0 98,724 0 98,724 0 2,962 95,762
2007 0 0 77,529 0 77,529 0 2,325 75,204
2008 0 0 23,325 0 23,325 0 700 22,625
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 3,600 0 200,000 0 203,600 -80,242 -80,242 -70,672
2005 7,200 0 0 0 7,200 134,312 54,070 105,225
2006 7,200 0 0 0 7,200 88,562 142,632 62,685
2007 7,200 0 0 0 7,200 68,004 210,636 43,540
2008 2,457 0 0 0 2,457 20,168 230,804 12,053
2009 0 0 0 0 0 0 230,804 0
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 152,831
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 152,831
LIFE OF EVALUATION IS 5.34 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 291
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #25 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 185,641
FINAL - 1.000000 0.875000 4.22 10.00% - 149,073
REMARKS - 15.00% - 119,427
20.00% - 95,367
25.00% - 75,826
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 20 0 0 17.276 0.00 4.22
2005 1 0 0 46 0 0 40.290 0.00 4.22
2006 1 0 0 29 0 0 25.282 0.00 4.22
2007 1 0 0 22 0 0 19.364 0.00 4.22
2008 1 0 0 11 0 0 9.789 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 72,904 0 72,904 0 2,187 70,717
2005 0 0 170,025 0 170,025 0 5,101 164,924
2006 0 0 106,688 0 106,688 0 3,201 103,487
2007 0 0 81,715 0 81,715 0 2,451 79,264
2008 0 0 41,308 0 41,308 0 1,239 40,069
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 1,800 0 200,000 0 201,800 -131,083 -131,083 -110,098
2005 7,200 0 0 0 7,200 157,724 26,641 123,703
2006 7,200 0 0 0 7,200 96,287 122,928 68,174
2007 7,200 0 0 0 7,200 72,064 194,992 46,146
2008 4,257 0 0 0 4,257 35,812 230,804 21,148
2009 0 0 0 0 0 0 230,804 0
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 149,073
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 149,073
LIFE OF EVALUATION IS 5.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 292
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #26 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 185,641
FINAL - 1.000000 0.875000 4.22 10.00% - 149,073
REMARKS - 15.00% - 119,427
20.00% - 95,367
25.00% - 75,826
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 20 0 0 17.276 0.00 4.22
2005 1 0 0 46 0 0 40.290 0.00 4.22
2006 1 0 0 29 0 0 25.282 0.00 4.22
2007 1 0 0 22 0 0 19.364 0.00 4.22
2008 1 0 0 11 0 0 9.789 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 72,904 0 72,904 0 2,187 70,717
2005 0 0 170,025 0 170,025 0 5,101 164,924
2006 0 0 106,688 0 106,688 0 3,201 103,487
2007 0 0 81,715 0 81,715 0 2,451 79,264
2008 0 0 41,308 0 41,308 0 1,239 40,069
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 1,800 0 200,000 0 201,800 -131,083 -131,083 -110,098
2005 7,200 0 0 0 7,200 157,724 26,641 123,703
2006 7,200 0 0 0 7,200 96,287 122,928 68,174
2007 7,200 0 0 0 7,200 72,064 194,992 46,146
2008 4,257 0 0 0 4,257 35,812 230,804 21,148
2009 0 0 0 0 0 0 230,804 0
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 149,073
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 149,073
LIFE OF EVALUATION IS 5.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 293
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #27 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 217,661
FINAL - 1.000000 0.875000 4.22 10.00% - 174,604
REMARKS - 15.00% - 139,902
20.00% - 111,886
25.00% - 89,232
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 20 0 0 17.516 0.00 4.22
2005 1 0 0 48 0 0 41.848 0.00 4.22
2006 1 0 0 30 0 0 26.560 0.00 4.22
2007 1 0 0 24 0 0 20.414 0.00 4.22
2008 1 0 0 18 0 0 16.162 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 140 0 0 122.500 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 140 0 0 122.500 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 140
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 73,917 0 73,917 0 2,218 71,699
2005 0 0 176,598 0 176,598 0 5,297 171,301
2006 0 0 112,084 0 112,084 0 3,363 108,721
2007 0 0 86,146 0 86,146 0 2,584 83,562
2008 0 0 68,205 0 68,205 0 2,046 66,159
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 516,950 0 516,950 0 15,508 501,442
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 516,950 0 516,950 0 15,508 501,442
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 1,800 0 200,000 0 201,800 -130,101 -130,101 -109,285
2005 7,200 0 0 0 7,200 164,101 34,000 128,680
2006 7,200 0 0 0 7,200 101,521 135,521 71,876
2007 7,200 0 0 0 7,200 76,362 211,883 48,896
2008 6,850 0 0 0 6,850 59,309 271,192 34,437
2009 0 0 0 0 0 0 271,192 0
2010 0 0 0 0 0 0 271,192 0
2011 0 0 0 0 0 0 271,192 0
2012 0 0 0 0 0 0 271,192 0
2013 0 0 0 0 0 0 271,192 0
2014 0 0 0 0 0 0 271,192 0
2015 0 0 0 0 0 0 271,192 0
2016 0 0 0 0 0 0 271,192 0
2017 0 0 0 0 0 0 271,192 0
SUBTOT 30,250 0 200,000 0 230,250 271,192 174,604
REMAIN 0 0 0 0 0 0 271,192 0
TOTAL 30,250 0 200,000 0 230,250 271,192 174,604
LIFE OF EVALUATION IS 5.95 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 294
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #29 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 185,641
FINAL - 1.000000 0.875000 4.22 10.00% - 149,073
REMARKS - 15.00% - 119,427
20.00% - 95,367
25.00% - 75,826
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 20 0 0 17.276 0.00 4.22
2005 1 0 0 46 0 0 40.290 0.00 4.22
2006 1 0 0 29 0 0 25.282 0.00 4.22
2007 1 0 0 22 0 0 19.364 0.00 4.22
2008 1 0 0 11 0 0 9.789 0.00 4.22
2009 0 0 0 0 0 0.000 0.00 0.00
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 72,904 0 72,904 0 2,187 70,717
2005 0 0 170,025 0 170,025 0 5,101 164,924
2006 0 0 106,688 0 106,688 0 3,201 103,487
2007 0 0 81,715 0 81,715 0 2,451 79,264
2008 0 0 41,308 0 41,308 0 1,239 40,069
2009 0 0 0 0 0 0 0 0
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 1,800 0 200,000 0 201,800 -131,083 -131,083 -110,098
2005 7,200 0 0 0 7,200 157,724 26,641 123,703
2006 7,200 0 0 0 7,200 96,287 122,928 68,174
2007 7,200 0 0 0 7,200 72,064 194,992 46,146
2008 4,257 0 0 0 4,257 35,812 230,804 21,148
2009 0 0 0 0 0 0 230,804 0
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 149,073
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 149,073
LIFE OF EVALUATION IS 5.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 295
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #32 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 368,693
FINAL - 1.000000 0.875000 4.22 10.00% - 306,017
REMARKS - 15.00% - 254,790
20.00% - 212,717
25.00% - 178,000
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 1 0 0 65 0 0 56.839 0.00 4.22
2005 1 0 0 42 0 0 36.777 0.00 4.22
2006 1 0 0 30 0 0 26.367 0.00 4.22
2007 1 0 0 24 0 0 21.179 0.00 4.22
2008 1 0 0 21 0 0 17.972 0.00 4.22
2009 1 0 0 9 0 0 7.990 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 239,861 0 239,861 0 7,196 232,665
2005 0 0 155,201 0 155,201 0 4,656 150,545
2006 0 0 111,270 0 111,270 0 3,338 107,932
2007 0 0 89,374 0 89,374 0 2,681 86,693
2008 0 0 75,843 0 75,843 0 2,275 73,568
2009 0 0 33,718 0 33,718 0 1,012 32,706
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 6,000 0 200,000 0 206,000 26,665 26,665 17,537
2005 7,200 0 0 0 7,200 143,345 170,010 112,209
2006 7,200 0 0 0 7,200 100,732 270,742 71,278
2007 7,200 0 0 0 7,200 79,493 350,235 50,887
2008 7,200 0 0 0 7,200 66,368 416,603 38,445
2009 3,544 0 0 0 3,544 29,162 445,765 15,661
2010 0 0 0 0 0 0 445,765 0
2011 0 0 0 0 0 0 445,765 0
2012 0 0 0 0 0 0 445,765 0
2013 0 0 0 0 0 0 445,765 0
2014 0 0 0 0 0 0 445,765 0
2015 0 0 0 0 0 0 445,765 0
2016 0 0 0 0 0 0 445,765 0
2017 0 0 0 0 0 0 445,765 0
SUBTOT 38,344 0 200,000 0 238,344 445,765 306,017
REMAIN 0 0 0 0 0 0 445,765 0
TOTAL 38,344 0 200,000 0 238,344 445,765 306,017
LIFE OF EVALUATION IS 6.49 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 296
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #33 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 884,267
FINAL - 1.000000 0.875000 4.22 10.00% - 653,151
REMARKS - 15.00% - 492,177
20.00% - 377,275
25.00% - 293,407
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 85 0 0 74.263 0.00 4.22
2006 1 0 0 63 0 0 55.395 0.00 4.22
2007 1 0 0 47 0 0 41.284 0.00 4.22
2008 1 0 0 39 0 0 33.729 0.00 4.22
2009 1 0 0 33 0 0 28.900 0.00 4.22
2010 1 0 0 29 0 0 25.499 0.00 4.22
2011 1 0 0 26 0 0 22.951 0.00 4.22
2012 1 0 0 24 0 0 20.957 0.00 4.22
2013 1 0 0 22 0 0 19.347 0.00 4.22
2014 1 0 0 21 0 0 18.014 0.00 4.22
2015 1 0 0 19 0 0 16.890 0.00 4.22
2016 1 0 0 13 0 0 11.146 0.00 4.22
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 421 0 0 368.375 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 421 0 0 368.375 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 421
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 313,390 0 313,390 0 9,402 303,988
2006 0 0 233,766 0 233,766 0 7,013 226,753
2007 0 0 174,217 0 174,217 0 5,226 168,991
2008 0 0 142,338 0 142,338 0 4,270 138,068
2009 0 0 121,959 0 121,959 0 3,659 118,300
2010 0 0 107,607 0 107,607 0 3,228 104,379
2011 0 0 96,851 0 96,851 0 2,906 93,945
2012 0 0 88,439 0 88,439 0 2,653 85,786
2013 0 0 81,644 0 81,644 0 2,449 79,195
2014 0 0 76,021 0 76,021 0 2,281 73,740
2015 0 0 71,276 0 71,276 0 2,138 69,138
2016 0 0 47,034 0 47,034 0 1,411 45,623
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,554,542 0 1,554,542 0 46,636 1,507,906
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,554,542 0 1,554,542 0 46,636 1,507,906
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 6,000 0 200,000 0 206,000 97,988 97,988 70,938
2006 7,200 0 0 0 7,200 219,553 317,541 155,485
2007 7,200 0 0 0 7,200 161,791 479,332 103,606
2008 7,200 0 0 0 7,200 130,868 610,200 75,822
2009 7,200 0 0 0 7,200 111,100 721,300 58,250
2010 7,200 0 0 0 7,200 97,179 818,479 46,112
2011 7,200 0 0 0 7,200 86,745 905,224 37,255
2012 7,200 0 0 0 7,200 78,586 983,810 30,548
2013 7,200 0 0 0 7,200 71,995 1,055,805 25,331
2014 7,200 0 0 0 7,200 66,540 1,122,345 21,191
2015 7,200 0 0 0 7,200 61,938 1,184,283 17,855
2016 4,996 0 0 0 4,996 40,627 1,224,910 10,758
2017 0 0 0 0 0 0 1,224,910 0
SUBTOT 82,996 0 200,000 0 282,996 1,224,910 653,151
REMAIN 0 0 0 0 0 0 1,224,910 0
TOTAL 82,996 0 200,000 0 282,996 1,224,910 653,151
LIFE OF EVALUATION IS 13.69 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 297
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #34 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 803,516
FINAL - 1.000000 0.875000 4.22 10.00% - 600,219
REMARKS - 15.00% - 455,953
20.00% - 351,465
25.00% - 274,349
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 83 0 0 72.521 0.00 4.22
2006 1 0 0 60 0 0 52.963 0.00 4.22
2007 1 0 0 45 0 0 39.208 0.00 4.22
2008 1 0 0 37 0 0 31.936 0.00 4.22
2009 1 0 0 31 0 0 27.315 0.00 4.22
2010 1 0 0 27 0 0 24.073 0.00 4.22
2011 1 0 0 25 0 0 21.650 0.00 4.22
2012 1 0 0 23 0 0 19.757 0.00 4.22
2013 1 0 0 21 0 0 18.231 0.00 4.22
2014 1 0 0 19 0 0 16.969 0.00 4.22
2015 1 0 0 12 0 0 10.503 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 383 0 0 335.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 383 0 0 335.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 383
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 306,039 0 306,039 0 9,181 296,858
2006 0 0 223,503 0 223,503 0 6,705 216,798
2007 0 0 165,458 0 165,458 0 4,964 160,494
2008 0 0 134,769 0 134,769 0 4,043 130,726
2009 0 0 115,271 0 115,271 0 3,458 111,813
2010 0 0 101,588 0 101,588 0 3,048 98,540
2011 0 0 91,361 0 91,361 0 2,741 88,620
2012 0 0 83,374 0 83,374 0 2,501 80,873
2013 0 0 76,933 0 76,933 0 2,308 74,625
2014 0 0 71,608 0 71,608 0 2,148 69,460
2015 0 0 44,323 0 44,323 0 1,330 42,993
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,414,227 0 1,414,227 0 42,427 1,371,800
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,414,227 0 1,414,227 0 42,427 1,371,800
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 6,000 0 200,000 0 206,000 90,858 90,858 65,459
2006 7,200 0 0 0 7,200 209,598 300,456 148,448
2007 7,200 0 0 0 7,200 153,294 453,750 98,169
2008 7,200 0 0 0 7,200 123,526 577,276 71,570
2009 7,200 0 0 0 7,200 104,613 681,889 54,849
2010 7,200 0 0 0 7,200 91,340 773,229 43,343
2011 7,200 0 0 0 7,200 81,420 854,649 34,968
2012 7,200 0 0 0 7,200 73,673 928,322 28,638
2013 7,200 0 0 0 7,200 67,425 995,747 23,724
2014 7,200 0 0 0 7,200 62,260 1,058,007 19,828
2015 4,705 0 0 0 4,705 38,288 1,096,295 11,223
2016 0 0 0 0 0 0 1,096,295 0
2017 0 0 0 0 0 0 1,096,295 0
SUBTOT 75,505 0 200,000 0 275,505 1,096,295 600,219
REMAIN 0 0 0 0 0 0 1,096,295 0
TOTAL 75,505 0 200,000 0 275,505 1,096,295 600,219
LIFE OF EVALUATION IS 12.65 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 298
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #35 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 790,263
FINAL - 1.000000 0.875000 4.22 10.00% - 580,621
REMARKS - 15.00% - 433,851
20.00% - 328,979
25.00% - 252,630
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 56 0 0 48.834 0.00 4.22
2006 1 0 0 70 0 0 61.079 0.00 4.22
2007 1 0 0 48 0 0 42.714 0.00 4.22
2008 1 0 0 39 0 0 33.963 0.00 4.22
2009 1 0 0 33 0 0 28.662 0.00 4.22
2010 1 0 0 29 0 0 25.043 0.00 4.22
2011 1 0 0 25 0 0 22.388 0.00 4.22
2012 1 0 0 23 0 0 20.341 0.00 4.22
2013 1 0 0 22 0 0 18.706 0.00 4.22
2014 1 0 0 20 0 0 17.365 0.00 4.22
2015 1 0 0 18 0 0 16.032 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 383 0 0 335.127 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 383 0 0 335.127 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 383
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 206,078 0 206,078 0 6,182 199,896
2006 0 0 257,753 0 257,753 0 7,733 250,020
2007 0 0 180,252 0 180,252 0 5,407 174,845
2008 0 0 143,324 0 143,324 0 4,300 139,024
2009 0 0 120,951 0 120,951 0 3,629 117,322
2010 0 0 105,682 0 105,682 0 3,170 102,512
2011 0 0 94,476 0 94,476 0 2,834 91,642
2012 0 0 85,837 0 85,837 0 2,576 83,261
2013 0 0 78,939 0 78,939 0 2,368 76,571
2014 0 0 73,279 0 73,279 0 2,198 71,081
2015 0 0 67,656 0 67,656 0 2,030 65,626
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,414,227 0 1,414,227 0 42,427 1,371,800
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,414,227 0 1,414,227 0 42,427 1,371,800
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 3,600 0 200,000 0 203,600 -3,704 -3,704 -5,703
2006 7,200 0 0 0 7,200 242,820 239,116 172,105
2007 7,200 0 0 0 7,200 167,645 406,761 107,389
2008 7,200 0 0 0 7,200 131,824 538,585 76,388
2009 7,200 0 0 0 7,200 110,122 648,707 57,743
2010 7,200 0 0 0 7,200 95,312 744,019 45,230
2011 7,200 0 0 0 7,200 84,442 828,461 36,267
2012 7,200 0 0 0 7,200 76,061 904,522 29,568
2013 7,200 0 0 0 7,200 69,371 973,893 24,409
2014 7,200 0 0 0 7,200 63,881 1,037,774 20,345
2015 7,105 0 0 0 7,105 58,521 1,096,295 16,880
2016 0 0 0 0 0 0 1,096,295 0
2017 0 0 0 0 0 0 1,096,295 0
SUBTOT 75,505 0 200,000 0 275,505 1,096,295 580,621
REMAIN 0 0 0 0 0 0 1,096,295 0
TOTAL 75,505 0 200,000 0 275,505 1,096,295 580,621
LIFE OF EVALUATION IS 12.99 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 299
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #36 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 1,070,802
FINAL - 1.000000 0.875000 4.22 10.00% - 771,131
REMARKS - 15.00% - 570,037
20.00% - 430,580
25.00% - 331,020
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 68 0 0 59.794 0.00 4.22
2006 1 0 0 84 0 0 72.972 0.00 4.22
2007 1 0 0 57 0 0 50.523 0.00 4.22
2008 1 0 0 46 0 0 40.016 0.00 4.22
2009 1 0 0 39 0 0 33.699 0.00 4.22
2010 1 0 0 33 0 0 29.406 0.00 4.22
2011 1 0 0 30 0 0 26.264 0.00 4.22
2012 1 0 0 28 0 0 23.847 0.00 4.22
2013 1 0 0 25 0 0 21.919 0.00 4.22
2014 1 0 0 23 0 0 20.340 0.00 4.22
2015 1 0 0 22 0 0 19.017 0.00 4.22
2016 1 0 0 20 0 0 17.890 0.00 4.22
2017 1 0 0 19 0 0 16.917 0.00 4.22
SUB-TOTAL 0 0 494 0 0 432.604 0.00 4.22
REMAINDER 0 0 17 0 0 14.522 0.00 4.22
TOTAL 0 0 511 0 0 447.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 511
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 252,329 0 252,329 0 7,570 244,759
2006 0 0 307,941 0 307,941 0 9,238 298,703
2007 0 0 213,205 0 213,205 0 6,396 206,809
2008 0 0 168,868 0 168,868 0 5,066 163,802
2009 0 0 142,209 0 142,209 0 4,267 137,942
2010 0 0 124,093 0 124,093 0 3,722 120,371
2011 0 0 110,833 0 110,833 0 3,325 107,508
2012 0 0 100,634 0 100,634 0 3,019 97,615
2013 0 0 92,500 0 92,500 0 2,775 89,725
2014 0 0 85,833 0 85,833 0 2,575 83,258
2015 0 0 80,251 0 80,251 0 2,408 77,843
2016 0 0 75,498 0 75,498 0 2,265 73,233
2017 0 0 71,390 0 71,390 0 2,142 69,248
SUB-TOT 0 0 1,825,584 0 1,825,584 0 54,768 1,770,816
REMAIN 0 0 61,283 0 61,283 0 1,838 59,445
TOTAL 0 0 1,886,867 0 1,886,867 0 56,606 1,830,261
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 3,600 0 200,000 0 203,600 41,159 41,159 28,506
2006 7,200 0 0 0 7,200 291,503 332,662 206,636
2007 7,200 0 0 0 7,200 199,609 532,271 127,867
2008 7,200 0 0 0 7,200 156,602 688,873 90,747
2009 7,200 0 0 0 7,200 130,742 819,615 68,556
2010 7,200 0 0 0 7,200 113,171 932,786 53,704
2011 7,200 0 0 0 7,200 100,308 1,033,094 43,082
2012 7,200 0 0 0 7,200 90,415 1,123,509 35,147
2013 7,200 0 0 0 7,200 82,525 1,206,034 29,037
2014 7,200 0 0 0 7,200 76,058 1,282,092 24,223
2015 7,200 0 0 0 7,200 70,643 1,352,735 20,365
2016 7,200 0 0 0 7,200 66,033 1,418,768 17,231
2017 7,200 0 0 0 7,200 62,048 1,480,816 14,655
SUBTOT 90,000 0 200,000 0 290,000 1,480,816 759,756
REMAIN 6,492 0 0 0 6,492 52,953 1,533,769 11,375
TOTAL 96,492 0 200,000 0 296,492 1,533,769 771,131
LIFE OF EVALUATION IS 15.90 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 300
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #38 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 640,630
FINAL - 1.000000 0.875000 4.22 10.00% - 474,353
REMARKS - 15.00% - 355,612
20.00% - 269,542
25.00% - 206,279
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 48 0 0 41.810 0.00 4.22
2006 1 0 0 62 0 0 54.103 0.00 4.22
2007 1 0 0 43 0 0 38.399 0.00 4.22
2008 1 0 0 36 0 0 30.714 0.00 4.22
2009 1 0 0 29 0 0 26.004 0.00 4.22
2010 1 0 0 26 0 0 22.767 0.00 4.22
2011 1 0 0 24 0 0 20.382 0.00 4.22
2012 1 0 0 21 0 0 18.537 0.00 4.22
2013 1 0 0 19 0 0 17.061 0.00 4.22
2014 1 0 0 11 0 0 9.348 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 319 0 0 279.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 319 0 0 279.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 319
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 176,438 0 176,438 0 5,293 171,145
2006 0 0 228,316 0 228,316 0 6,850 221,466
2007 0 0 162,044 0 162,044 0 4,861 157,183
2008 0 0 129,613 0 129,613 0 3,888 125,725
2009 0 0 109,735 0 109,735 0 3,292 106,443
2010 0 0 96,077 0 96,077 0 2,883 93,194
2011 0 0 86,011 0 86,011 0 2,580 83,431
2012 0 0 78,227 0 78,227 0 2,347 75,880
2013 0 0 71,997 0 71,997 0 2,160 69,837
2014 0 0 39,449 0 39,449 0 1,183 38,266
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,177,907 0 1,177,907 0 35,337 1,142,570
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,177,907 0 1,177,907 0 35,337 1,142,570
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 3,600 0 200,000 0 203,600 -32,455 -32,455 -27,634
2006 7,200 0 0 0 7,200 214,266 181,811 151,839
2007 7,200 0 0 0 7,200 149,983 331,794 96,069
2008 7,200 0 0 0 7,200 118,525 450,319 68,680
2009 7,200 0 0 0 7,200 99,243 549,562 52,038
2010 7,200 0 0 0 7,200 85,994 635,556 40,807
2011 7,200 0 0 0 7,200 76,231 711,787 32,741
2012 7,200 0 0 0 7,200 68,680 780,467 26,699
2013 7,200 0 0 0 7,200 62,637 843,104 22,039
2014 4,186 0 0 0 4,186 34,080 877,184 11,075
2015 0 0 0 0 0 0 877,184 0
2016 0 0 0 0 0 0 877,184 0
2017 0 0 0 0 0 0 877,184 0
SUBTOT 65,386 0 200,000 0 265,386 877,184 474,353
REMAIN 0 0 0 0 0 0 877,184 0
TOTAL 65,386 0 200,000 0 265,386 877,184 474,353
LIFE OF EVALUATION IS 11.58 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 301
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #39 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 722,482
FINAL - 1.000000 0.875000 4.22 10.00% - 528,266
REMARKS - 15.00% - 392,306
20.00% - 295,326
25.00% - 224,944
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 49 0 0 42.633 0.00 4.22
2006 1 0 0 64 0 0 56.619 0.00 4.22
2007 1 0 0 47 0 0 40.672 0.00 4.22
2008 1 0 0 37 0 0 32.695 0.00 4.22
2009 1 0 0 32 0 0 27.758 0.00 4.22
2010 1 0 0 28 0 0 24.346 0.00 4.22
2011 1 0 0 25 0 0 21.822 0.00 4.22
2012 1 0 0 22 0 0 19.865 0.00 4.22
2013 1 0 0 21 0 0 18.295 0.00 4.22
2014 1 0 0 20 0 0 17.003 0.00 4.22
2015 1 0 0 12 0 0 10.668 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 357 0 0 312.376 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 357 0 0 312.376 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 357
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 179,910 0 179,910 0 5,397 174,513
2006 0 0 238,933 0 238,933 0 7,168 231,765
2007 0 0 171,637 0 171,637 0 5,149 166,488
2008 0 0 137,974 0 137,974 0 4,140 133,834
2009 0 0 117,138 0 117,138 0 3,514 113,624
2010 0 0 102,739 0 102,739 0 3,082 99,657
2011 0 0 92,087 0 92,087 0 2,763 89,324
2012 0 0 83,829 0 83,829 0 2,514 81,315
2013 0 0 77,205 0 77,205 0 2,317 74,888
2014 0 0 71,752 0 71,752 0 2,152 69,600
2015 0 0 45,019 0 45,019 0 1,351 43,668
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,318,223 0 1,318,223 0 39,547 1,278,676
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,318,223 0 1,318,223 0 39,547 1,278,676
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 3,600 0 200,000 0 203,600 -29,087 -29,087 -25,086
2006 7,200 0 0 0 7,200 224,565 195,478 159,110
2007 7,200 0 0 0 7,200 159,288 354,766 102,023
2008 7,200 0 0 0 7,200 126,634 481,400 73,376
2009 7,200 0 0 0 7,200 106,424 587,824 55,802
2010 7,200 0 0 0 7,200 92,457 680,281 43,874
2011 7,200 0 0 0 7,200 82,124 762,405 35,271
2012 7,200 0 0 0 7,200 74,115 836,520 28,811
2013 7,200 0 0 0 7,200 67,688 904,208 23,816
2014 7,200 0 0 0 7,200 62,400 966,608 19,874
2015 4,775 0 0 0 4,775 38,893 1,005,501 11,395
2016 0 0 0 0 0 0 1,005,501 0
2017 0 0 0 0 0 0 1,005,501 0
SUBTOT 73,175 0 200,000 0 273,175 1,005,501 528,266
REMAIN 0 0 0 0 0 0 1,005,501 0
TOTAL 73,175 0 200,000 0 273,175 1,005,501 528,266
LIFE OF EVALUATION IS 12.66 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 302
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #40 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 713,525
FINAL - 1.000000 0.875000 4.22 10.00% - 515,276
REMARKS - 15.00% - 377,955
20.00% - 281,039
25.00% - 211,451
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 27 0 0 23.374 0.00 4.22
2006 1 0 0 73 0 0 63.765 0.00 4.22
2007 1 0 0 49 0 0 43.543 0.00 4.22
2008 1 0 0 40 0 0 34.309 0.00 4.22
2009 1 0 0 32 0 0 28.812 0.00 4.22
2010 1 0 0 29 0 0 25.098 0.00 4.22
2011 1 0 0 26 0 0 22.390 0.00 4.22
2012 1 0 0 23 0 0 20.312 0.00 4.22
2013 1 0 0 21 0 0 18.658 0.00 4.22
2014 1 0 0 20 0 0 17.304 0.00 4.22
2015 1 0 0 17 0 0 14.810 0.00 4.22
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 357 0 0 312.375 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 357 0 0 312.375 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 357
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 98,638 0 98,638 0 2,959 95,679
2006 0 0 269,087 0 269,087 0 8,073 261,014
2007 0 0 183,752 0 183,752 0 5,512 178,240
2008 0 0 144,782 0 144,782 0 4,344 140,438
2009 0 0 121,588 0 121,588 0 3,647 117,941
2010 0 0 105,915 0 105,915 0 3,178 102,737
2011 0 0 94,486 0 94,486 0 2,834 91,652
2012 0 0 85,717 0 85,717 0 2,572 83,145
2013 0 0 78,736 0 78,736 0 2,362 76,374
2014 0 0 73,025 0 73,025 0 2,191 70,834
2015 0 0 62,497 0 62,497 0 1,875 60,622
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,318,223 0 1,318,223 0 39,547 1,278,676
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,318,223 0 1,318,223 0 39,547 1,278,676
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -106,121 -106,121 -80,921
2006 7,200 0 0 0 7,200 253,814 147,693 179,957
2007 7,200 0 0 0 7,200 171,040 318,733 109,575
2008 7,200 0 0 0 7,200 133,238 451,971 77,211
2009 7,200 0 0 0 7,200 110,741 562,712 58,070
2010 7,200 0 0 0 7,200 95,537 658,249 45,337
2011 7,200 0 0 0 7,200 84,452 742,701 36,272
2012 7,200 0 0 0 7,200 75,945 818,646 29,523
2013 7,200 0 0 0 7,200 69,174 887,820 24,340
2014 7,200 0 0 0 7,200 63,634 951,454 20,267
2015 6,575 0 0 0 6,575 54,047 1,005,501 15,645
2016 0 0 0 0 0 0 1,005,501 0
2017 0 0 0 0 0 0 1,005,501 0
SUBTOT 73,175 0 200,000 0 273,175 1,005,501 515,276
REMAIN 0 0 0 0 0 0 1,005,501 0
TOTAL 73,175 0 200,000 0 273,175 1,005,501 515,276
LIFE OF EVALUATION IS 12.91 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 303
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #41 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 176,605
FINAL - 1.000000 0.875000 4.22 10.00% - 134,943
REMARKS - 15.00% - 102,887
20.00% - 78,209
25.00% - 59,205
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 20 0 0 17.276 0.00 4.22
2006 1 0 0 46 0 0 40.290 0.00 4.22
2007 1 0 0 29 0 0 25.282 0.00 4.22
2008 1 0 0 22 0 0 19.364 0.00 4.22
2009 1 0 0 11 0 0 9.789 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 72,904 0 72,904 0 2,187 70,717
2006 0 0 170,025 0 170,025 0 5,101 164,924
2007 0 0 106,688 0 106,688 0 3,201 103,487
2008 0 0 81,715 0 81,715 0 2,451 79,264
2009 0 0 41,308 0 41,308 0 1,239 40,069
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -131,083 -131,083 -99,662
2006 7,200 0 0 0 7,200 157,724 26,641 111,978
2007 7,200 0 0 0 7,200 96,287 122,928 61,711
2008 7,200 0 0 0 7,200 72,064 194,992 41,772
2009 4,257 0 0 0 4,257 35,812 230,804 19,144
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 134,943
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 134,943
LIFE OF EVALUATION IS 6.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 304
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #42 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 501,480
FINAL - 1.000000 0.875000 4.22 10.00% - 378,548
REMARKS - 15.00% - 287,925
20.00% - 220,512
25.00% - 169,934
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 29 0 0 25.738 0.00 4.22
2006 1 0 0 68 0 0 59.339 0.00 4.22
2007 1 0 0 43 0 0 37.040 0.00 4.22
2008 1 0 0 32 0 0 28.325 0.00 4.22
2009 1 0 0 27 0 0 23.427 0.00 4.22
2010 1 0 0 23 0 0 20.219 0.00 4.22
2011 1 0 0 20 0 0 17.925 0.00 4.22
2012 1 0 0 15 0 0 12.862 0.00 4.22
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 257 0 0 224.875 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 257 0 0 224.875 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 257
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 108,614 0 108,614 0 3,258 105,356
2006 0 0 250,412 0 250,412 0 7,513 242,899
2007 0 0 156,308 0 156,308 0 4,689 151,619
2008 0 0 119,531 0 119,531 0 3,586 115,945
2009 0 0 98,864 0 98,864 0 2,966 95,898
2010 0 0 85,324 0 85,324 0 2,560 82,764
2011 0 0 75,641 0 75,641 0 2,269 73,372
2012 0 0 54,278 0 54,278 0 1,628 52,650
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 948,972 0 948,972 0 28,469 920,503
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 948,972 0 948,972 0 28,469 920,503
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -96,444 -96,444 -73,627
2006 7,200 0 0 0 7,200 235,699 139,255 167,337
2007 7,200 0 0 0 7,200 144,419 283,674 92,556
2008 7,200 0 0 0 7,200 108,745 392,419 63,030
2009 7,200 0 0 0 7,200 88,698 481,117 46,516
2010 7,200 0 0 0 7,200 75,564 556,681 35,862
2011 7,200 0 0 0 7,200 66,172 622,853 28,423
2012 5,665 0 0 0 5,665 46,985 669,838 18,451
2013 0 0 0 0 0 0 669,838 0
2014 0 0 0 0 0 0 669,838 0
2015 0 0 0 0 0 0 669,838 0
2016 0 0 0 0 0 0 669,838 0
2017 0 0 0 0 0 0 669,838 0
SUBTOT 50,665 0 200,000 0 250,665 669,838 378,548
REMAIN 0 0 0 0 0 0 669,838 0
TOTAL 50,665 0 200,000 0 250,665 669,838 378,548
LIFE OF EVALUATION IS 9.79 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 305
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #43 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 176,605
FINAL - 1.000000 0.875000 4.22 10.00% - 134,943
REMARKS - 15.00% - 102,887
20.00% - 78,209
25.00% - 59,205
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 20 0 0 17.276 0.00 4.22
2006 1 0 0 46 0 0 40.290 0.00 4.22
2007 1 0 0 29 0 0 25.282 0.00 4.22
2008 1 0 0 22 0 0 19.364 0.00 4.22
2009 1 0 0 11 0 0 9.789 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 72,904 0 72,904 0 2,187 70,717
2006 0 0 170,025 0 170,025 0 5,101 164,924
2007 0 0 106,688 0 106,688 0 3,201 103,487
2008 0 0 81,715 0 81,715 0 2,451 79,264
2009 0 0 41,308 0 41,308 0 1,239 40,069
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -131,083 -131,083 -99,662
2006 7,200 0 0 0 7,200 157,724 26,641 111,978
2007 7,200 0 0 0 7,200 96,287 122,928 61,711
2008 7,200 0 0 0 7,200 72,064 194,992 41,772
2009 4,257 0 0 0 4,257 35,812 230,804 19,144
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 134,943
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 134,943
LIFE OF EVALUATION IS 6.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 306
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #44 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 176,605
FINAL - 1.000000 0.875000 4.22 10.00% - 134,943
REMARKS - 15.00% - 102,887
20.00% - 78,209
25.00% - 59,205
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 20 0 0 17.276 0.00 4.22
2006 1 0 0 46 0 0 40.290 0.00 4.22
2007 1 0 0 29 0 0 25.282 0.00 4.22
2008 1 0 0 22 0 0 19.364 0.00 4.22
2009 1 0 0 11 0 0 9.789 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.001 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.001 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 72,904 0 72,904 0 2,187 70,717
2006 0 0 170,025 0 170,025 0 5,101 164,924
2007 0 0 106,688 0 106,688 0 3,201 103,487
2008 0 0 81,715 0 81,715 0 2,451 79,264
2009 0 0 41,308 0 41,308 0 1,239 40,069
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -131,083 -131,083 -99,662
2006 7,200 0 0 0 7,200 157,724 26,641 111,978
2007 7,200 0 0 0 7,200 96,287 122,928 61,711
2008 7,200 0 0 0 7,200 72,064 194,992 41,772
2009 4,257 0 0 0 4,257 35,812 230,804 19,144
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 134,943
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 134,943
LIFE OF EVALUATION IS 6.59 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 307
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #45 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 181,821
FINAL - 1.000000 0.875000 4.22 10.00% - 143,014
REMARKS - 15.00% - 112,235
20.00% - 87,802
25.00% - 68,398
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 50 0 0 43.775 0.00 4.22
2006 1 0 0 34 0 0 29.508 0.00 4.22
2007 1 0 0 24 0 0 21.363 0.00 4.22
2008 1 0 0 20 0 0 17.230 0.00 4.22
2009 1 0 0 0 0 0 0.124 0.00 4.22
2010 0 0 0 0 0 0.000 0.00 0.00
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 184,731 0 184,731 0 5,542 179,189
2006 0 0 124,524 0 124,524 0 3,736 120,788
2007 0 0 90,151 0 90,151 0 2,704 87,447
2008 0 0 72,710 0 72,710 0 2,181 70,529
2009 0 0 524 0 524 0 16 508
2010 0 0 0 0 0 0 0 0
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 6,000 0 200,000 0 206,000 -26,811 -26,811 -25,811
2006 7,200 0 0 0 7,200 113,588 86,777 80,480
2007 7,200 0 0 0 7,200 80,247 167,024 51,400
2008 7,200 0 0 0 7,200 63,329 230,353 36,698
2009 57 0 0 0 57 451 230,804 247
2010 0 0 0 0 0 0 230,804 0
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 143,014
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 143,014
LIFE OF EVALUATION IS 6.01 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 308
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #46 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 202,806
FINAL - 1.000000 0.875000 4.22 10.00% - 151,629
REMARKS - 15.00% - 113,268
20.00% - 84,477
25.00% - 62,848
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 51 0 0 44.947 0.00 4.22
2007 1 0 0 36 0 0 30.913 0.00 4.22
2008 1 0 0 25 0 0 22.496 0.00 4.22
2009 1 0 0 21 0 0 18.185 0.00 4.22
2010 1 0 0 7 0 0 5.959 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 140 0 0 122.500 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 140 0 0 122.500 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 140
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 189,677 0 189,677 0 5,690 183,987
2007 0 0 130,454 0 130,454 0 3,914 126,540
2008 0 0 94,934 0 94,934 0 2,848 92,086
2009 0 0 76,739 0 76,739 0 2,302 74,437
2010 0 0 25,146 0 25,146 0 754 24,392
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 516,950 0 516,950 0 15,508 501,442
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 516,950 0 516,950 0 15,508 501,442
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 -22,013 -22,013 -20,021
2007 7,200 0 0 0 7,200 119,340 97,327 76,534
2008 7,200 0 0 0 7,200 84,886 182,213 49,217
2009 7,200 0 0 0 7,200 67,237 249,450 35,268
2010 2,650 0 0 0 2,650 21,742 271,192 10,631
2011 0 0 0 0 0 0 271,192 0
2012 0 0 0 0 0 0 271,192 0
2013 0 0 0 0 0 0 271,192 0
2014 0 0 0 0 0 0 271,192 0
2015 0 0 0 0 0 0 271,192 0
2016 0 0 0 0 0 0 271,192 0
2017 0 0 0 0 0 0 271,192 0
SUBTOT 30,250 0 200,000 0 230,250 271,192 151,629
REMAIN 0 0 0 0 0 0 271,192 0
TOTAL 30,250 0 200,000 0 230,250 271,192 151,629
LIFE OF EVALUATION IS 7.37 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 309
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #47 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 328,722
FINAL - 1.000000 0.875000 4.22 10.00% - 244,289
REMARKS - 15.00% - 182,138
20.00% - 136,173
25.00% - 102,032
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 59 0 0 51.892 0.00 4.22
2007 1 0 0 42 0 0 36.429 0.00 4.22
2008 1 0 0 30 0 0 26.658 0.00 4.22
2009 1 0 0 25 0 0 21.601 0.00 4.22
2010 1 0 0 21 0 0 18.422 0.00 4.22
2011 1 0 0 14 0 0 12.124 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 218,983 0 218,983 0 6,570 212,413
2007 0 0 153,730 0 153,730 0 4,611 149,119
2008 0 0 112,496 0 112,496 0 3,375 109,121
2009 0 0 91,157 0 91,157 0 2,735 88,422
2010 0 0 77,739 0 77,739 0 2,332 75,407
2011 0 0 51,162 0 51,162 0 1,535 49,627
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 6,413 6,413 -56
2007 7,200 0 0 0 7,200 141,919 148,332 91,006
2008 7,200 0 0 0 7,200 101,921 250,253 59,089
2009 7,200 0 0 0 7,200 81,222 331,475 42,602
2010 7,200 0 0 0 7,200 68,207 399,682 32,374
2011 5,308 0 0 0 5,308 44,319 444,001 19,274
2012 0 0 0 0 0 0 444,001 0
2013 0 0 0 0 0 0 444,001 0
2014 0 0 0 0 0 0 444,001 0
2015 0 0 0 0 0 0 444,001 0
2016 0 0 0 0 0 0 444,001 0
2017 0 0 0 0 0 0 444,001 0
SUBTOT 40,108 0 200,000 0 240,108 444,001 244,289
REMAIN 0 0 0 0 0 0 444,001 0
TOTAL 40,108 0 200,000 0 240,108 444,001 244,289
LIFE OF EVALUATION IS 8.74 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 310
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #48 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 328,722
FINAL - 1.000000 0.875000 4.22 10.00% - 244,289
REMARKS - 15.00% - 182,138
20.00% - 136,173
25.00% - 102,032
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 59 0 0 51.892 0.00 4.22
2007 1 0 0 42 0 0 36.429 0.00 4.22
2008 1 0 0 30 0 0 26.658 0.00 4.22
2009 1 0 0 25 0 0 21.601 0.00 4.22
2010 1 0 0 21 0 0 18.422 0.00 4.22
2011 1 0 0 14 0 0 12.124 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 218,983 0 218,983 0 6,570 212,413
2007 0 0 153,730 0 153,730 0 4,611 149,119
2008 0 0 112,496 0 112,496 0 3,375 109,121
2009 0 0 91,157 0 91,157 0 2,735 88,422
2010 0 0 77,739 0 77,739 0 2,332 75,407
2011 0 0 51,162 0 51,162 0 1,535 49,627
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 6,413 6,413 -56
2007 7,200 0 0 0 7,200 141,919 148,332 91,006
2008 7,200 0 0 0 7,200 101,921 250,253 59,089
2009 7,200 0 0 0 7,200 81,222 331,475 42,602
2010 7,200 0 0 0 7,200 68,207 399,682 32,374
2011 5,308 0 0 0 5,308 44,319 444,001 19,274
2012 0 0 0 0 0 0 444,001 0
2013 0 0 0 0 0 0 444,001 0
2014 0 0 0 0 0 0 444,001 0
2015 0 0 0 0 0 0 444,001 0
2016 0 0 0 0 0 0 444,001 0
2017 0 0 0 0 0 0 444,001 0
SUBTOT 40,108 0 200,000 0 240,108 444,001 244,289
REMAIN 0 0 0 0 0 0 444,001 0
TOTAL 40,108 0 200,000 0 240,108 444,001 244,289
LIFE OF EVALUATION IS 8.74 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 311
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #49 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 172,972
FINAL - 1.000000 0.875000 4.22 10.00% - 129,458
REMARKS - 15.00% - 96,691
20.00% - 72,005
25.00% - 53,406
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 50 0 0 43.775 0.00 4.22
2007 1 0 0 34 0 0 29.508 0.00 4.22
2008 1 0 0 24 0 0 21.363 0.00 4.22
2009 1 0 0 20 0 0 17.230 0.00 4.22
2010 1 0 0 0 0 0 0.124 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 184,731 0 184,731 0 5,542 179,189
2007 0 0 124,524 0 124,524 0 3,736 120,788
2008 0 0 90,151 0 90,151 0 2,704 87,447
2009 0 0 72,710 0 72,710 0 2,181 70,529
2010 0 0 524 0 524 0 16 508
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 -26,811 -26,811 -23,365
2007 7,200 0 0 0 7,200 113,588 86,777 72,852
2008 7,200 0 0 0 7,200 80,247 167,024 46,528
2009 7,200 0 0 0 7,200 63,329 230,353 33,219
2010 57 0 0 0 57 451 230,804 224
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 129,458
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 129,458
LIFE OF EVALUATION IS 7.01 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 312
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #50 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 325,945
FINAL - 1.000000 0.875000 4.22 10.00% - 239,701
REMARKS - 15.00% - 176,895
20.00% - 130,943
25.00% - 97,176
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 43 0 0 37.562 0.00 4.22
2007 1 0 0 49 0 0 42.963 0.00 4.22
2008 1 0 0 33 0 0 29.044 0.00 4.22
2009 1 0 0 26 0 0 22.800 0.00 4.22
2010 1 0 0 22 0 0 19.110 0.00 4.22
2011 1 0 0 18 0 0 15.646 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 158,511 0 158,511 0 4,755 153,756
2007 0 0 181,305 0 181,305 0 5,439 175,866
2008 0 0 122,566 0 122,566 0 3,677 118,889
2009 0 0 96,216 0 96,216 0 2,887 93,329
2010 0 0 80,645 0 80,645 0 2,419 78,226
2011 0 0 66,024 0 66,024 0 1,981 64,043
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -49,844 -49,844 -36,931
2007 7,200 0 0 0 7,200 168,666 118,822 108,273
2008 7,200 0 0 0 7,200 111,689 230,511 64,776
2009 7,200 0 0 0 7,200 86,129 316,640 45,184
2010 7,200 0 0 0 7,200 71,026 387,666 33,716
2011 6,750 0 0 0 6,750 57,293 444,959 24,683
2012 0 0 0 0 0 0 444,959 0
2013 0 0 0 0 0 0 444,959 0
2014 0 0 0 0 0 0 444,959 0
2015 0 0 0 0 0 0 444,959 0
2016 0 0 0 0 0 0 444,959 0
2017 0 0 0 0 0 0 444,959 0
SUBTOT 39,150 0 200,000 0 239,150 444,959 239,701
REMAIN 0 0 0 0 0 0 444,959 0
TOTAL 39,150 0 200,000 0 239,150 444,959 239,701
LIFE OF EVALUATION IS 8.94 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 313
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #51 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 170,118
FINAL - 1.000000 0.875000 4.22 10.00% - 125,231
REMARKS - 15.00% - 92,004
20.00% - 67,398
25.00% - 49,178
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 34 0 0 30.136 0.00 4.22
2007 1 0 0 40 0 0 34.571 0.00 4.22
2008 1 0 0 27 0 0 23.394 0.00 4.22
2009 1 0 0 21 0 0 18.372 0.00 4.22
2010 1 0 0 6 0 0 5.527 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 127,173 0 127,173 0 3,815 123,358
2007 0 0 145,889 0 145,889 0 4,377 141,512
2008 0 0 98,724 0 98,724 0 2,962 95,762
2009 0 0 77,529 0 77,529 0 2,325 75,204
2010 0 0 23,325 0 23,325 0 700 22,625
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -80,242 -80,242 -57,909
2007 7,200 0 0 0 7,200 134,312 54,070 86,222
2008 7,200 0 0 0 7,200 88,562 142,632 51,365
2009 7,200 0 0 0 7,200 68,004 210,636 35,677
2010 2,457 0 0 0 2,457 20,168 230,804 9,876
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 125,231
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 125,231
LIFE OF EVALUATION IS 7.34 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 314
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #53 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 170,118
FINAL - 1.000000 0.875000 4.22 10.00% - 125,231
REMARKS - 15.00% - 92,004
20.00% - 67,398
25.00% - 49,178
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 34 0 0 30.136 0.00 4.22
2007 1 0 0 40 0 0 34.571 0.00 4.22
2008 1 0 0 27 0 0 23.394 0.00 4.22
2009 1 0 0 21 0 0 18.372 0.00 4.22
2010 1 0 0 6 0 0 5.527 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 127,173 0 127,173 0 3,815 123,358
2007 0 0 145,889 0 145,889 0 4,377 141,512
2008 0 0 98,724 0 98,724 0 2,962 95,762
2009 0 0 77,529 0 77,529 0 2,325 75,204
2010 0 0 23,325 0 23,325 0 700 22,625
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -80,242 -80,242 -57,909
2007 7,200 0 0 0 7,200 134,312 54,070 86,222
2008 7,200 0 0 0 7,200 88,562 142,632 51,365
2009 7,200 0 0 0 7,200 68,004 210,636 35,677
2010 2,457 0 0 0 2,457 20,168 230,804 9,876
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 125,231
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 125,231
LIFE OF EVALUATION IS 7.34 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 315
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #54 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 340,687
FINAL - 1.000000 0.875000 4.22 10.00% - 261,377
REMARKS - 15.00% - 201,223
20.00% - 155,385
25.00% - 120,304
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 26 0 0 23.030 0.00 4.22
2006 1 0 0 59 0 0 51.068 0.00 4.22
2007 1 0 0 36 0 0 31.342 0.00 4.22
2008 1 0 0 27 0 0 23.851 0.00 4.22
2009 1 0 0 22 0 0 19.680 0.00 4.22
2010 1 0 0 20 0 0 16.960 0.00 4.22
2011 1 0 0 1 0 0 1.194 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 97,185 0 97,185 0 2,916 94,269
2006 0 0 215,508 0 215,508 0 6,465 209,043
2007 0 0 132,265 0 132,265 0 3,968 128,297
2008 0 0 100,649 0 100,649 0 3,019 97,630
2009 0 0 83,048 0 83,048 0 2,492 80,556
2010 0 0 71,572 0 71,572 0 2,147 69,425
2011 0 0 5,040 0 5,040 0 151 4,889
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -107,531 -107,531 -81,955
2006 7,200 0 0 0 7,200 201,843 94,312 143,343
2007 7,200 0 0 0 7,200 121,097 215,409 77,617
2008 7,200 0 0 0 7,200 90,430 305,839 52,417
2009 7,200 0 0 0 7,200 73,356 379,195 38,472
2010 7,200 0 0 0 7,200 62,225 441,420 29,532
2011 544 0 0 0 544 4,345 445,765 1,951
2012 0 0 0 0 0 0 445,765 0
2013 0 0 0 0 0 0 445,765 0
2014 0 0 0 0 0 0 445,765 0
2015 0 0 0 0 0 0 445,765 0
2016 0 0 0 0 0 0 445,765 0
2017 0 0 0 0 0 0 445,765 0
SUBTOT 38,344 0 200,000 0 238,344 445,765 261,377
REMAIN 0 0 0 0 0 0 445,765 0
TOTAL 38,344 0 200,000 0 238,344 445,765 261,377
LIFE OF EVALUATION IS 8.08 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 316
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #55 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 340,687
FINAL - 1.000000 0.875000 4.22 10.00% - 261,377
REMARKS - 15.00% - 201,223
20.00% - 155,385
25.00% - 120,304
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 1 0 0 26 0 0 23.030 0.00 4.22
2006 1 0 0 59 0 0 51.068 0.00 4.22
2007 1 0 0 36 0 0 31.342 0.00 4.22
2008 1 0 0 27 0 0 23.851 0.00 4.22
2009 1 0 0 22 0 0 19.680 0.00 4.22
2010 1 0 0 20 0 0 16.960 0.00 4.22
2011 1 0 0 1 0 0 1.194 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 97,185 0 97,185 0 2,916 94,269
2006 0 0 215,508 0 215,508 0 6,465 209,043
2007 0 0 132,265 0 132,265 0 3,968 128,297
2008 0 0 100,649 0 100,649 0 3,019 97,630
2009 0 0 83,048 0 83,048 0 2,492 80,556
2010 0 0 71,572 0 71,572 0 2,147 69,425
2011 0 0 5,040 0 5,040 0 151 4,889
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 1,800 0 200,000 0 201,800 -107,531 -107,531 -81,955
2006 7,200 0 0 0 7,200 201,843 94,312 143,343
2007 7,200 0 0 0 7,200 121,097 215,409 77,617
2008 7,200 0 0 0 7,200 90,430 305,839 52,417
2009 7,200 0 0 0 7,200 73,356 379,195 38,472
2010 7,200 0 0 0 7,200 62,225 441,420 29,532
2011 544 0 0 0 544 4,345 445,765 1,951
2012 0 0 0 0 0 0 445,765 0
2013 0 0 0 0 0 0 445,765 0
2014 0 0 0 0 0 0 445,765 0
2015 0 0 0 0 0 0 445,765 0
2016 0 0 0 0 0 0 445,765 0
2017 0 0 0 0 0 0 445,765 0
SUBTOT 38,344 0 200,000 0 238,344 445,765 261,377
REMAIN 0 0 0 0 0 0 445,765 0
TOTAL 38,344 0 200,000 0 238,344 445,765 261,377
LIFE OF EVALUATION IS 8.08 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 317
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #56 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 333,677
FINAL - 1.000000 0.875000 4.22 10.00% - 250,753
REMARKS - 15.00% - 189,104
20.00% - 143,059
25.00% - 108,519
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 65 0 0 56.839 0.00 4.22
2007 1 0 0 42 0 0 36.777 0.00 4.22
2008 1 0 0 30 0 0 26.367 0.00 4.22
2009 1 0 0 24 0 0 21.179 0.00 4.22
2010 1 0 0 21 0 0 17.972 0.00 4.22
2011 1 0 0 9 0 0 7.990 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 239,861 0 239,861 0 7,196 232,665
2007 0 0 155,201 0 155,201 0 4,656 150,545
2008 0 0 111,270 0 111,270 0 3,338 107,932
2009 0 0 89,374 0 89,374 0 2,681 86,693
2010 0 0 75,843 0 75,843 0 2,275 73,568
2011 0 0 33,718 0 33,718 0 1,012 32,706
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 26,665 26,665 14,370
2007 7,200 0 0 0 7,200 143,345 170,010 91,945
2008 7,200 0 0 0 7,200 100,732 270,742 58,406
2009 7,200 0 0 0 7,200 79,493 350,235 41,698
2010 7,200 0 0 0 7,200 66,368 416,603 31,502
2011 3,544 0 0 0 3,544 29,162 445,765 12,832
2012 0 0 0 0 0 0 445,765 0
2013 0 0 0 0 0 0 445,765 0
2014 0 0 0 0 0 0 445,765 0
2015 0 0 0 0 0 0 445,765 0
2016 0 0 0 0 0 0 445,765 0
2017 0 0 0 0 0 0 445,765 0
SUBTOT 38,344 0 200,000 0 238,344 445,765 250,753
REMAIN 0 0 0 0 0 0 445,765 0
TOTAL 38,344 0 200,000 0 238,344 445,765 250,753
LIFE OF EVALUATION IS 8.49 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 318
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #57 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 627,145
FINAL - 1.000000 0.875000 4.22 10.00% - 454,784
REMARKS - 15.00% - 333,752
20.00% - 247,559
25.00% - 185,369
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 79 0 0 68.994 0.00 4.22
2007 1 0 0 55 0 0 48.324 0.00 4.22
2008 1 0 0 40 0 0 35.340 0.00 4.22
2009 1 0 0 33 0 0 28.629 0.00 4.22
2010 1 0 0 28 0 0 24.411 0.00 4.22
2011 1 0 0 25 0 0 21.470 0.00 4.22
2012 1 0 0 22 0 0 19.281 0.00 4.22
2013 1 0 0 20 0 0 17.577 0.00 4.22
2014 1 0 0 16 0 0 14.226 0.00 4.22
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 318 0 0 278.252 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 318 0 0 278.252 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 318
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 291,153 0 291,153 0 8,735 282,418
2007 0 0 203,927 0 203,927 0 6,117 197,810
2008 0 0 149,135 0 149,135 0 4,474 144,661
2009 0 0 120,813 0 120,813 0 3,625 117,188
2010 0 0 103,012 0 103,012 0 3,090 99,922
2011 0 0 90,602 0 90,602 0 2,718 87,884
2012 0 0 81,366 0 81,366 0 2,441 78,925
2013 0 0 74,174 0 74,174 0 2,225 71,949
2014 0 0 60,033 0 60,033 0 1,801 58,232
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 1,174,215 0 1,174,215 0 35,226 1,138,989
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 1,174,215 0 1,174,215 0 35,226 1,138,989
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 76,418 76,418 49,203
2007 7,200 0 0 0 7,200 190,610 267,028 122,224
2008 7,200 0 0 0 7,200 137,461 404,489 79,692
2009 7,200 0 0 0 7,200 109,988 514,477 57,688
2010 7,200 0 0 0 7,200 92,722 607,199 44,008
2011 7,200 0 0 0 7,200 80,684 687,883 34,658
2012 7,200 0 0 0 7,200 71,725 759,608 27,884
2013 7,200 0 0 0 7,200 64,749 824,357 22,785
2014 6,291 0 0 0 6,291 51,941 876,298 16,642
2015 0 0 0 0 0 0 876,298 0
2016 0 0 0 0 0 0 876,298 0
2017 0 0 0 0 0 0 876,298 0
SUBTOT 62,691 0 200,000 0 262,691 876,298 454,784
REMAIN 0 0 0 0 0 0 876,298 0
TOTAL 62,691 0 200,000 0 262,691 876,298 454,784
LIFE OF EVALUATION IS 11.87 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 319
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #58 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 333,677
FINAL - 1.000000 0.875000 4.22 10.00% - 250,753
REMARKS - 15.00% - 189,104
20.00% - 143,059
25.00% - 108,519
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 65 0 0 56.839 0.00 4.22
2007 1 0 0 42 0 0 36.777 0.00 4.22
2008 1 0 0 30 0 0 26.367 0.00 4.22
2009 1 0 0 24 0 0 21.179 0.00 4.22
2010 1 0 0 21 0 0 17.972 0.00 4.22
2011 1 0 0 9 0 0 7.990 0.00 4.22
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 239,861 0 239,861 0 7,196 232,665
2007 0 0 155,201 0 155,201 0 4,656 150,545
2008 0 0 111,270 0 111,270 0 3,338 107,932
2009 0 0 89,374 0 89,374 0 2,681 86,693
2010 0 0 75,843 0 75,843 0 2,275 73,568
2011 0 0 33,718 0 33,718 0 1,012 32,706
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,267 0 705,267 0 21,158 684,109
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,267 0 705,267 0 21,158 684,109
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 26,665 26,665 14,370
2007 7,200 0 0 0 7,200 143,345 170,010 91,945
2008 7,200 0 0 0 7,200 100,732 270,742 58,406
2009 7,200 0 0 0 7,200 79,493 350,235 41,698
2010 7,200 0 0 0 7,200 66,368 416,603 31,502
2011 3,544 0 0 0 3,544 29,162 445,765 12,832
2012 0 0 0 0 0 0 445,765 0
2013 0 0 0 0 0 0 445,765 0
2014 0 0 0 0 0 0 445,765 0
2015 0 0 0 0 0 0 445,765 0
2016 0 0 0 0 0 0 445,765 0
2017 0 0 0 0 0 0 445,765 0
SUBTOT 38,344 0 200,000 0 238,344 445,765 250,753
REMAIN 0 0 0 0 0 0 445,765 0
TOTAL 38,344 0 200,000 0 238,344 445,765 250,753
LIFE OF EVALUATION IS 8.49 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 320
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #59 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 483,484
FINAL - 1.000000 0.875000 4.22 10.00% - 355,974
REMARKS - 15.00% - 264,096
20.00% - 197,288
25.00% - 148,295
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 71 0 0 62.078 0.00 4.22
2007 1 0 0 49 0 0 42.843 0.00 4.22
2008 1 0 0 36 0 0 31.206 0.00 4.22
2009 1 0 0 28 0 0 25.236 0.00 4.22
2010 1 0 0 25 0 0 21.496 0.00 4.22
2011 1 0 0 22 0 0 18.894 0.00 4.22
2012 1 0 0 19 0 0 16.960 0.00 4.22
2013 1 0 0 5 0 0 4.412 0.00 4.22
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 261,968 0 261,968 0 7,859 254,109
2007 0 0 180,798 0 180,798 0 5,424 175,374
2008 0 0 131,691 0 131,691 0 3,951 127,740
2009 0 0 106,494 0 106,494 0 3,195 103,299
2010 0 0 90,713 0 90,713 0 2,721 87,992
2011 0 0 79,734 0 79,734 0 2,392 77,342
2012 0 0 71,572 0 71,572 0 2,147 69,425
2013 0 0 18,617 0 18,617 0 559 18,058
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 48,109 48,109 29,319
2007 7,200 0 0 0 7,200 168,174 216,283 107,845
2008 7,200 0 0 0 7,200 120,540 336,823 69,884
2009 7,200 0 0 0 7,200 96,099 432,922 50,405
2010 7,200 0 0 0 7,200 80,792 513,714 38,347
2011 7,200 0 0 0 7,200 70,142 583,856 30,130
2012 7,200 0 0 0 7,200 62,225 646,081 24,192
2013 1,992 0 0 0 1,992 16,066 662,147 5,852
2014 0 0 0 0 0 0 662,147 0
2015 0 0 0 0 0 0 662,147 0
2016 0 0 0 0 0 0 662,147 0
2017 0 0 0 0 0 0 662,147 0
SUBTOT 51,192 0 200,000 0 251,192 662,147 355,974
REMAIN 0 0 0 0 0 0 662,147 0
TOTAL 51,192 0 200,000 0 251,192 662,147 355,974
LIFE OF EVALUATION IS 10.28 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 321
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #60 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 483,484
FINAL - 1.000000 0.875000 4.22 10.00% - 355,974
REMARKS - 15.00% - 264,096
20.00% - 197,288
25.00% - 148,295
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 71 0 0 62.078 0.00 4.22
2007 1 0 0 49 0 0 42.843 0.00 4.22
2008 1 0 0 36 0 0 31.206 0.00 4.22
2009 1 0 0 28 0 0 25.236 0.00 4.22
2010 1 0 0 25 0 0 21.496 0.00 4.22
2011 1 0 0 22 0 0 18.894 0.00 4.22
2012 1 0 0 19 0 0 16.960 0.00 4.22
2013 1 0 0 5 0 0 4.412 0.00 4.22
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 255 0 0 223.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 255 0 0 223.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 255
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 261,968 0 261,968 0 7,859 254,109
2007 0 0 180,798 0 180,798 0 5,424 175,374
2008 0 0 131,691 0 131,691 0 3,951 127,740
2009 0 0 106,494 0 106,494 0 3,195 103,299
2010 0 0 90,713 0 90,713 0 2,721 87,992
2011 0 0 79,734 0 79,734 0 2,392 77,342
2012 0 0 71,572 0 71,572 0 2,147 69,425
2013 0 0 18,617 0 18,617 0 559 18,058
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 941,587 0 941,587 0 28,248 913,339
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 941,587 0 941,587 0 28,248 913,339
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 6,000 0 200,000 0 206,000 48,109 48,109 29,319
2007 7,200 0 0 0 7,200 168,174 216,283 107,845
2008 7,200 0 0 0 7,200 120,540 336,823 69,884
2009 7,200 0 0 0 7,200 96,099 432,922 50,405
2010 7,200 0 0 0 7,200 80,792 513,714 38,347
2011 7,200 0 0 0 7,200 70,142 583,856 30,130
2012 7,200 0 0 0 7,200 62,225 646,081 24,192
2013 1,992 0 0 0 1,992 16,066 662,147 5,852
2014 0 0 0 0 0 0 662,147 0
2015 0 0 0 0 0 0 662,147 0
2016 0 0 0 0 0 0 662,147 0
2017 0 0 0 0 0 0 662,147 0
SUBTOT 51,192 0 200,000 0 251,192 662,147 355,974
REMAIN 0 0 0 0 0 0 662,147 0
TOTAL 51,192 0 200,000 0 251,192 662,147 355,974
LIFE OF EVALUATION IS 10.28 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 322
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #61 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 320,098
FINAL - 1.000000 0.875000 4.22 10.00% - 232,228
REMARKS - 15.00% - 169,003
20.00% - 123,299
25.00% - 90,118
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 38 0 0 32.831 0.00 4.22
2007 1 0 0 47 0 0 41.491 0.00 4.22
2008 1 0 0 33 0 0 29.143 0.00 4.22
2009 1 0 0 27 0 0 23.213 0.00 4.22
2010 1 0 0 22 0 0 19.608 0.00 4.22
2011 1 0 0 20 0 0 17.142 0.00 4.22
2012 1 0 0 4 0 0 3.697 0.00 4.22
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 191 0 0 167.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 191 0 0 167.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 191
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 138,547 0 138,547 0 4,156 134,391
2007 0 0 175,092 0 175,092 0 5,253 169,839
2008 0 0 122,983 0 122,983 0 3,690 119,293
2009 0 0 97,957 0 97,957 0 2,938 95,019
2010 0 0 82,745 0 82,745 0 2,483 80,262
2011 0 0 72,341 0 72,341 0 2,170 70,171
2012 0 0 15,603 0 15,603 0 468 15,135
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 705,268 0 705,268 0 21,158 684,110
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 705,268 0 705,268 0 21,158 684,110
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -69,209 -69,209 -50,348
2007 7,200 0 0 0 7,200 162,639 93,430 104,347
2008 7,200 0 0 0 7,200 112,093 205,523 65,000
2009 7,200 0 0 0 7,200 87,819 293,342 46,066
2010 7,200 0 0 0 7,200 73,062 366,404 34,680
2011 7,200 0 0 0 7,200 62,971 429,375 27,051
2012 1,669 0 0 0 1,669 13,466 442,841 5,432
2013 0 0 0 0 0 0 442,841 0
2014 0 0 0 0 0 0 442,841 0
2015 0 0 0 0 0 0 442,841 0
2016 0 0 0 0 0 0 442,841 0
2017 0 0 0 0 0 0 442,841 0
SUBTOT 41,269 0 200,000 0 241,269 442,841 232,228
REMAIN 0 0 0 0 0 0 442,841 0
TOTAL 41,269 0 200,000 0 241,269 442,841 232,228
LIFE OF EVALUATION IS 9.23 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 323
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #62 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 170,118
FINAL - 1.000000 0.875000 4.22 10.00% - 125,231
REMARKS - 15.00% - 92,004
20.00% - 67,398
25.00% - 49,178
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 34 0 0 30.136 0.00 4.22
2007 1 0 0 40 0 0 34.571 0.00 4.22
2008 1 0 0 27 0 0 23.394 0.00 4.22
2009 1 0 0 21 0 0 18.372 0.00 4.22
2010 1 0 0 6 0 0 5.527 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 128 0 0 112.000 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 128 0 0 112.000 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 128
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 127,173 0 127,173 0 3,815 123,358
2007 0 0 145,889 0 145,889 0 4,377 141,512
2008 0 0 98,724 0 98,724 0 2,962 95,762
2009 0 0 77,529 0 77,529 0 2,325 75,204
2010 0 0 23,325 0 23,325 0 700 22,625
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 472,640 0 472,640 0 14,179 458,461
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 472,640 0 472,640 0 14,179 458,461
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -80,242 -80,242 -57,909
2007 7,200 0 0 0 7,200 134,312 54,070 86,222
2008 7,200 0 0 0 7,200 88,562 142,632 51,365
2009 7,200 0 0 0 7,200 68,004 210,636 35,677
2010 2,457 0 0 0 2,457 20,168 230,804 9,876
2011 0 0 0 0 0 0 230,804 0
2012 0 0 0 0 0 0 230,804 0
2013 0 0 0 0 0 0 230,804 0
2014 0 0 0 0 0 0 230,804 0
2015 0 0 0 0 0 0 230,804 0
2016 0 0 0 0 0 0 230,804 0
2017 0 0 0 0 0 0 230,804 0
SUBTOT 27,657 0 200,000 0 227,657 230,804 125,231
REMAIN 0 0 0 0 0 0 230,804 0
TOTAL 27,657 0 200,000 0 227,657 230,804 125,231
LIFE OF EVALUATION IS 7.34 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 324
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #63 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 167,655
FINAL - 1.000000 0.875000 4.22 10.00% - 123,418
REMARKS - 15.00% - 90,663
20.00% - 66,400
25.00% - 48,430
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 34 0 0 30.079 0.00 4.22
2007 1 0 0 40 0 0 34.440 0.00 4.22
2008 1 0 0 26 0 0 23.290 0.00 4.22
2009 1 0 0 21 0 0 18.286 0.00 4.22
2010 1 0 0 6 0 0 5.029 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 126,935 0 126,935 0 3,808 123,127
2007 0 0 145,337 0 145,337 0 4,360 140,977
2008 0 0 98,286 0 98,286 0 2,949 95,337
2009 0 0 77,165 0 77,165 0 2,315 74,850
2010 0 0 21,224 0 21,224 0 636 20,588
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -80,473 -80,473 -58,068
2007 7,200 0 0 0 7,200 133,777 53,304 85,880
2008 7,200 0 0 0 7,200 88,137 141,441 51,119
2009 7,200 0 0 0 7,200 67,650 209,091 35,491
2010 2,241 0 0 0 2,241 18,347 227,438 8,996
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 123,418
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 123,418
LIFE OF EVALUATION IS 7.31 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 325
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #65 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 167,655
FINAL - 1.000000 0.875000 4.22 10.00% - 123,418
REMARKS - 15.00% - 90,663
20.00% - 66,400
25.00% - 48,430
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 34 0 0 30.079 0.00 4.22
2007 1 0 0 40 0 0 34.440 0.00 4.22
2008 1 0 0 26 0 0 23.290 0.00 4.22
2009 1 0 0 21 0 0 18.286 0.00 4.22
2010 1 0 0 6 0 0 5.029 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.124 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.124 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 126,935 0 126,935 0 3,808 123,127
2007 0 0 145,337 0 145,337 0 4,360 140,977
2008 0 0 98,286 0 98,286 0 2,949 95,337
2009 0 0 77,165 0 77,165 0 2,315 74,850
2010 0 0 21,224 0 21,224 0 636 20,588
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 3,600 0 200,000 0 203,600 -80,473 -80,473 -58,068
2007 7,200 0 0 0 7,200 133,777 53,304 85,880
2008 7,200 0 0 0 7,200 88,137 141,441 51,119
2009 7,200 0 0 0 7,200 67,650 209,091 35,491
2010 2,241 0 0 0 2,241 18,347 227,438 8,996
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 123,418
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 123,418
LIFE OF EVALUATION IS 7.31 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 326
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E POSSIBLE
LOCATION #67 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 165,577
FINAL - 1.000000 0.875000 4.22 10.00% - 120,384
REMARKS - 15.00% - 87,346
20.00% - 63,188
25.00% - 45,525
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 20 0 0 17.254 0.00 4.22
2007 1 0 0 46 0 0 40.155 0.00 4.22
2008 1 0 0 28 0 0 25.172 0.00 4.22
2009 1 0 0 22 0 0 19.274 0.00 4.22
2010 1 0 0 11 0 0 9.271 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 72,813 0 72,813 0 2,184 70,629
2007 0 0 169,452 0 169,452 0 5,084 164,368
2008 0 0 106,225 0 106,225 0 3,187 103,038
2009 0 0 81,336 0 81,336 0 2,440 78,896
2010 0 0 39,121 0 39,121 0 1,173 37,948
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 1,800 0 200,000 0 201,800 -131,171 -131,171 -90,275
2007 7,200 0 0 0 7,200 157,168 25,997 101,008
2008 7,200 0 0 0 7,200 95,838 121,835 55,602
2009 7,200 0 0 0 7,200 71,696 193,531 37,619
2010 4,041 0 0 0 4,041 33,907 227,438 16,430
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 120,384
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 120,384
LIFE OF EVALUATION IS 7.56 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 327
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #68 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 165,577
FINAL - 1.000000 0.875000 4.22 10.00% - 120,384
REMARKS - 15.00% - 87,346
20.00% - 63,188
25.00% - 45,525
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 20 0 0 17.254 0.00 4.22
2007 1 0 0 46 0 0 40.155 0.00 4.22
2008 1 0 0 28 0 0 25.172 0.00 4.22
2009 1 0 0 22 0 0 19.274 0.00 4.22
2010 1 0 0 11 0 0 9.271 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 72,813 0 72,813 0 2,184 70,629
2007 0 0 169,452 0 169,452 0 5,084 164,368
2008 0 0 106,225 0 106,225 0 3,187 103,038
2009 0 0 81,336 0 81,336 0 2,440 78,896
2010 0 0 39,121 0 39,121 0 1,173 37,948
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 1,800 0 200,000 0 201,800 -131,171 -131,171 -90,275
2007 7,200 0 0 0 7,200 157,168 25,997 101,008
2008 7,200 0 0 0 7,200 95,838 121,835 55,602
2009 7,200 0 0 0 7,200 71,696 193,531 37,619
2010 4,041 0 0 0 4,041 33,907 227,438 16,430
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 120,384
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 120,384
LIFE OF EVALUATION IS 7.56 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 328
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #69 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 165,577
FINAL - 1.000000 0.875000 4.22 10.00% - 120,384
REMARKS - 15.00% - 87,346
20.00% - 63,188
25.00% - 45,525
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 1 0 0 20 0 0 17.254 0.00 4.22
2007 1 0 0 46 0 0 40.155 0.00 4.22
2008 1 0 0 28 0 0 25.172 0.00 4.22
2009 1 0 0 22 0 0 19.274 0.00 4.22
2010 1 0 0 11 0 0 9.271 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.126 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.126 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 72,813 0 72,813 0 2,184 70,629
2007 0 0 169,452 0 169,452 0 5,084 164,368
2008 0 0 106,225 0 106,225 0 3,187 103,038
2009 0 0 81,336 0 81,336 0 2,440 78,896
2010 0 0 39,121 0 39,121 0 1,173 37,948
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 1,800 0 200,000 0 201,800 -131,171 -131,171 -90,275
2007 7,200 0 0 0 7,200 157,168 25,997 101,008
2008 7,200 0 0 0 7,200 95,838 121,835 55,602
2009 7,200 0 0 0 7,200 71,696 193,531 37,619
2010 4,041 0 0 0 4,041 33,907 227,438 16,430
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 120,384
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 120,384
LIFE OF EVALUATION IS 7.56 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 329
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #70 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 162,170
FINAL - 1.000000 0.875000 4.22 10.00% - 115,491
REMARKS - 15.00% - 82,086
20.00% - 58,175
25.00% - 41,066
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 1 0 0 50 0 0 43.672 0.00 4.22
2008 1 0 0 33 0 0 29.387 0.00 4.22
2009 1 0 0 25 0 0 21.266 0.00 4.22
2010 1 0 0 19 0 0 16.800 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 184,295 0 184,295 0 5,529 178,766
2008 0 0 124,013 0 124,013 0 3,720 120,293
2009 0 0 89,741 0 89,741 0 2,692 87,049
2010 0 0 70,898 0 70,898 0 2,127 68,771
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 6,000 0 200,000 0 206,000 -27,234 -27,234 -21,417
2008 7,200 0 0 0 7,200 113,093 85,859 65,660
2009 7,200 0 0 0 7,200 79,849 165,708 41,909
2010 7,041 0 0 0 7,041 61,730 227,438 29,339
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 115,491
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 115,491
LIFE OF EVALUATION IS 7.98 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 330
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #71 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 162,170
FINAL - 1.000000 0.875000 4.22 10.00% - 115,491
REMARKS - 15.00% - 82,086
20.00% - 58,175
25.00% - 41,066
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 1 0 0 50 0 0 43.672 0.00 4.22
2008 1 0 0 33 0 0 29.387 0.00 4.22
2009 1 0 0 25 0 0 21.266 0.00 4.22
2010 1 0 0 19 0 0 16.800 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 184,295 0 184,295 0 5,529 178,766
2008 0 0 124,013 0 124,013 0 3,720 120,293
2009 0 0 89,741 0 89,741 0 2,692 87,049
2010 0 0 70,898 0 70,898 0 2,127 68,771
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 6,000 0 200,000 0 206,000 -27,234 -27,234 -21,417
2008 7,200 0 0 0 7,200 113,093 85,859 65,660
2009 7,200 0 0 0 7,200 79,849 165,708 41,909
2010 7,041 0 0 0 7,041 61,730 227,438 29,339
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 115,491
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 115,491
LIFE OF EVALUATION IS 7.98 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO
TENGASCO, INC. TABLE 331
ESTIMATED FUTURE RESERVES AND INCOME
ATTRIBUTABLE TO CERTAIN LEASEHOLD AND ROYALTY INTERESTS
SEC CASE
AS OF DECEMBER 31, 2002
SWAN CREEK FIELD, HANCOCK COUNTY, TENNESSEE GAS LEASE
TENGASCO, INC. - OPERATOR 11-T1S-R74E PROVED
LOCATION #72 (KNOX) UNDEVELOPED
REVENUE INTEREST PRODUCT PRICES
---------------------------- ------------------------------------- DISCOUNTED
EXPENSE OIL/ PLANT OIL/COND. PL PROD GAS FUTURE NET INCOME - $
INTEREST COND. PRODUCTS GAS $/BBL $/BBL $/MCF COMPOUNDED MONTHLY
-------- -------- -------- -------- ------------- ------ -------------- ----------------------
INITIAL - 1.000000 0.875000 4.22 5.00% - 162,170
FINAL - 1.000000 0.875000 4.22 10.00% - 115,491
REMARKS - 15.00% - 82,086
20.00% - 58,175
25.00% - 41,066
ESTIMATED 8/8 THS PRODUCTION COMPANY NET PRODUCTION AVERAGE PRICES
------------------------------------- ------------------------------------------ ------------------
NO OF OIL/COND. PLANT PROD. GAS OIL/COND. PLANT PROD. GAS OIL/COND. GAS
PD WELLS BARRELS BARRELS MMCF BARRELS BARRELS MMCF $/BBL. $/MCF
---- ----- ------------- ----------- ----------- -------------- ----------- ------------ --------- --------
2003 0 0 0 0 0 0.000 0.00 0.00
2004 0 0 0 0 0 0.000 0.00 0.00
2005 0 0 0 0 0 0.000 0.00 0.00
2006 0 0 0 0 0 0.000 0.00 0.00
2007 1 0 0 50 0 0 43.672 0.00 4.22
2008 1 0 0 33 0 0 29.387 0.00 4.22
2009 1 0 0 25 0 0 21.266 0.00 4.22
2010 1 0 0 19 0 0 16.800 0.00 4.22
2011 0 0 0 0 0 0.000 0.00 0.00
2012 0 0 0 0 0 0.000 0.00 0.00
2013 0 0 0 0 0 0.000 0.00 0.00
2014 0 0 0 0 0 0.000 0.00 0.00
2015 0 0 0 0 0 0.000 0.00 0.00
2016 0 0 0 0 0 0.000 0.00 0.00
2017 0 0 0 0 0 0.000 0.00 0.00
SUB-TOTAL 0 0 127 0 0 111.125 0.00 4.22
REMAINDER 0 0 0 0 0 0.000 0.00 0.00
TOTAL 0 0 127 0 0 111.125 0.00 4.22
CUMULATIVE 0 0 0
ULTIMATE 0 0 127
COMPANY FUTURE GROSS REVENUE (FGR) - $ PRODUCTION TAXES - $
------------------------------------------------------------------- ----------------------- FGR AFTER
FROM FROM FROM PRODUCTION
PD OIL/COND. PLANT PROD. GAS OTHER TOTAL OIL/COND. GAS/P.P. TAXES - $
---- -------------- ----------- ------------- ------------ ------------- ----------- ----------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 0 0 184,295 0 184,295 0 5,529 178,766
2008 0 0 124,013 0 124,013 0 3,720 120,293
2009 0 0 89,741 0 89,741 0 2,692 87,049
2010 0 0 70,898 0 70,898 0 2,127 68,771
2011 0 0 0 0 0 0 0 0
2012 0 0 0 0 0 0 0 0
2013 0 0 0 0 0 0 0 0
2014 0 0 0 0 0 0 0 0
2015 0 0 0 0 0 0 0 0
2016 0 0 0 0 0 0 0 0
2017 0 0 0 0 0 0 0 0
SUB-TOT 0 0 468,947 0 468,947 0 14,068 454,879
REMAIN 0 0 0 0 0 0 0 0
TOTAL 0 0 468,947 0 468,947 0 14,068 454,879
DEDUCTIONS - $ FUTURE NET INCOME BEFORE INCOME TAXES - $
-------------------------------------------------------------- ------------------------------------------
OPERATING AD VALOREM DEVELOPMENT UNDISCOUNTED DISCOUNTED
PD COSTS TAXES COSTS OTHER TOTAL ANNUAL CUMULATIVE @ 10.00 %
---- ------------ ----------- ----------- ----------- ------------- -------------- ------------- -------------
2003 0 0 0 0 0 0 0 0
2004 0 0 0 0 0 0 0 0
2005 0 0 0 0 0 0 0 0
2006 0 0 0 0 0 0 0 0
2007 6,000 0 200,000 0 206,000 -27,234 -27,234 -21,417
2008 7,200 0 0 0 7,200 113,093 85,859 65,660
2009 7,200 0 0 0 7,200 79,849 165,708 41,909
2010 7,041 0 0 0 7,041 61,730 227,438 29,339
2011 0 0 0 0 0 0 227,438 0
2012 0 0 0 0 0 0 227,438 0
2013 0 0 0 0 0 0 227,438 0
2014 0 0 0 0 0 0 227,438 0
2015 0 0 0 0 0 0 227,438 0
2016 0 0 0 0 0 0 227,438 0
2017 0 0 0 0 0 0 227,438 0
SUBTOT 27,441 0 200,000 0 227,441 227,438 115,491
REMAIN 0 0 0 0 0 0 227,438 0
TOTAL 27,441 0 200,000 0 227,441 227,438 115,491
LIFE OF EVALUATION IS 7.98 YEARS.
FINAL PRODUCTION RATE: 1.5 MMCF/MO