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TIV - Forbes.com Guru Pick - (Oil, Gas, Gold)
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[QUOTE]Originally posted by Stocktrader20: [QB] Tri-Valley Updates Plan Execution for Its Oil Producing Properties and Stock BAKERSFIELD, CA, Jun 02, 2006 (MARKET WIRE via COMTEX) -- Tri-Valley Corporation stock (AMEX: TIV) has experienced above average volatility without any accompanying event over the past two weeks. The Company had previously advised that it had successfully procured six production rigs for its new subsidiary to workover its growing inventory of oil and gas wells and that it had launched a program to exploit recently acquired oil properties it believes have exceptional upsides that can be tapped with modern drilling and recovery technology. "Last week Forbes.com reported that some market gurus thought Tri-Valley's property exploitation plan was a good idea and bought into the Company's stock, a viewpoint Tri-Valley management and technical staff shares wholeheartedly," said F. Lynn Blystone. Blystone noted that one of the Tri-Valley's newly acquired production rigs had begun a program of reworking 17 idle wells on the Company's Temblor Valley property flanking the giant South Belridge Oilfield, the third highest producing oilfield in the 48 contiguous United States. A second rig is onsite to drill new wells and multiple drilling locations are being built for the 2006 drilling campaign on the property. "This program is designed to ramp up production/revenue and significantly increase the proven reserves we can report in our SEC filings. Using standard industry methods for evaluating petroleum properties, we believe we have a potential of several orders of magnitude greater that what we can currently report under SEC criteria and new production will allow us to reveal ever increasing values in our filings. Possibly some investors knowledgeable in such matters as mentioned in the Forbes.com website have seen what we see in the upside potential as we aggressively execute the plan and are joining at the ground floor," Blystone said. After getting the Temblor Valley workover and drilling program underway, the Company plans to also begin drilling its Pleasant Valley property in Ventura County, California to confirm a substantial oil deposit as suggested by wells surrounding the property and various independent engineering estimates. "When these properties, rigs and people -- all now in short supply -- became available we stretched in advance to assemble the team, equipment and prospects for a major upside effort and we've now left the starting gate to bring the much enhanced value to our shareholders and project investors. Having our own rigs and several properties for re-exploitation with modern techniques undergirds our optimism for adding new value in the second half of 2006 and beyond," Blystone said. XXXXX The Company is in its 43rd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are [URL=http://www.tri-valleycorp.com]www.tri-valleycorp.com[/URL] and [URL=http://www.tri-valley.de.]www.tri-valley.de.[/URL] This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended March 31, 2006, and the annual report on Form 10-K for the year ended December 31, 2005. CONTACT: F. LYNN BLYSTONE PRESIDENT & CHIEF EXECUTIVE OFFICER 1-800-579-9314 SOURCE: Tri-Valley Corporation Copyright 2006 Market Wire, All rights reserved. ********************************************************************** As of Monday, 05-29-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 05-25-2006 for TIV * $7.20. (C) 2006 Comtex News Network, Inc. All rights reserved. [/QB][/QUOTE]
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