TGC - Tengasco +80% on merger agreement with Riley Exploration-Permian

Tengasco ([[TGC]] +78.3%) and Riley Exploration – Permian enters into a definitive merger agreement in an all-stock transaction. Under the terms of the merger agreement, Tengasco will issue approximately 203M shares of Tengasco common stock to Riley members at the closing of the transaction.  Following the closing of the transaction, the current members of Riley will own 95% of Tengasco and the current Tengasco stockholders will own the remaining 5%. Riley will become a wholly owned subsidiary of Tengasco.  Tengasco will change its name to Riley Exploration Permian."Riley is positioned to be one of a new breed of E&P companies that offers a mix of assets that provides for strong capital efficiency and optionality for our stakeholders.  We believe we will not only maintain our conservative balance sheet, but will improve it over the next year, while maintaining or possibly even increasing our cash dividend over the same period.  With our strong

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Tengasco +80% on merger agreement with Riley Exploration-Permian