NEW YORK, April 7, 2004 (PRIMEZONE) -- Pursuant to Court Order, Robert C. Susser, P.C. and Abbey Gardy LLP announce the following:
UNITED STATES DISTRICT COURT EASTERN DISTRICT
OF TENNESSEE, AT KNOXVILLE
PAUL MILLER, individually )
and on behalf of all others )
similarly situated, )
) Civ. Action No. 3-02-CV-644
Plaintiff, )
)
)
M.E. RATLIFF, and )
TENGASCO, INC. )
)
Defendants. )
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION,
PROPOSED SETTLEMENT AND SETTLEMENT HEARING
TO: ALL PERSONS OR ENTITIES WHO PURCHASED THE COMMON STOCK OF
TENGASCO, INC. ("TENGASCO") IN THE OPEN MARKET DURING THE PERIOD
AUGUST 1, 2001 THROUGH AND INCLUDING APRIL 22, 2002, AND WERE
DAMAGED THEREBY (THE "CLASS")
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court dated February 27, 2004, that a hearing will be held before the Honorable Thomas A. Varlan at the United States Courthouse, 800 Market Street, Knoxville, TN 37902, at 2 p.m., on April 29, 2004 to determine whether the above captioned action should be certified as a class action, whether a proposed settlement of (i) 129,870 shares of Tengasco common stock and 100,000 shares of Miller Petroleum, Inc. ("Miller") common stock from defendant Ratliff, and (ii) 300,000 three-year warrants to purchase restricted Tengasco stock at $1 per share, 150,000 shares of Miller common stock and $37,500 cash from defendant Tengasco, should be approved by the Court as fair, reasonable and adequate, and to consider the application of Plaintiff's Counsel for attorneys' fees and reimbursement of expenses. The stock and warrants are to be issued exempt from the registration requirements pursuant to Section 3(a)(10) of the Securities Act of 1933.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT.
This notice is a summary only. If you have not yet received the full printed Notice of Pendency of Class Action, Hearing on Proposed Settlement And Attorneys' Fee Petition And Right to Share in Settlement Fund which describes in detail the litigation, the Class, the proposed Settlement, the hearing thereon, the options members of the Class can take, and the dates by which they must be taken, and which includes a Proof of Claim form, you may obtain copies of these documents by identifying yourself as a Class Member and by writing to the Claims Administrator:
Miller v. Ratliff, and Tengasco, Inc. c/o FRG Information Systems Corp. Post Office Box 4059 Grand Central Station New York, NY 10163
If you do not wish to participate in this action and in the benefits of this Settlement, you may request exclusion from the Class, in writing, postmarked no later than April 15, 2004 pursuant to the procedures set out in the Notice referred to above. If you do not request exclusion, you will be bound by the judgment entered in this case, including the terms and conditions of the Settlement described above.
To participate in the Settlement, you must file a Proof of Claim postmarked no later than July 16, 2004. IF YOU ARE A CLASS MEMBER AND DO NOT EXCLUDE YOURSELF OR DO NOT FILE A PROPER PROOF OF CLAIM, YOU WILL NOT SHARE IN THE SETTLEMENT BUT YOU WILL BE BOUND BY THE FINAL ORDER AND JUDGMENT OF THE COURT.
Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to the following Plaintiff's Counsel: Robert C. Susser, Robert C. Susser, P.C., 6 East 43rd Street, Suite 1900, New York, NY 10017-4609; Evan J. Kaufman, Abbey Gardy, LLP, 212 East 39th Street, New York, NY 10016. Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, identified above.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION.
By Order of The Court