19 Dec 2003debt financing● Neutral
Tengasco's board authorized notes to consolidate and extend $1.65 million of existing debt to Dolphin Offshore Partners and to borrow up to $1.7 million more, for a total of up to $3.35 million at 12% interest due April 4, 2004. The notes were secured by pipeline assets, and Dolphin's managing partner sits on the board.