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Tri-Valley Hooks Up First Moffat Well for Natural Gas Sales

Posted on: Friday, 14 March 2008, 15:00 CDT

Tri-Valley Corporation (AMEX:TIV) has hooked up its newly drilled Moffat Ranch East 48x-7 natural gas well and will begin continuous gas sales Monday. The well will be put on at an initial delivery rate of one million cubic feet per day and that rate will be gradually increased to an optimum rate as determined by pressure draw down and any other technical factors.

The Moffat Ranch Gas Field is northwest of Fresno, California and its pipeline quality natural gas is in demand as a preferred fuel in a state that now imports nearly 90 percent of its needs.

"We have already identified the follow up location and will be preparing to drill the 38-7 well to test this and other trends on trend shortly," said Myron Tiede, senior geologist for Tri-Valley Oil & Gas Co., the Company's operating subsidiary.

Tri-Valley envisions as many as 25 primary locations for the multiple zones mapped in the nine square mile lease holding that it controls and will rely on its Opus I Drilling Program Limited Partnership to fund the development of the field.

"The development of the Moffat Ranch East discovery and its other zones will be a key contributor to building production, revenue, reportable reserves, share value and drilling partner return -- especially as natural gas prices move into the double digits per million cubic feet. We expect to even further expand our pursuit of natural gas drilling opportunities," said James Bush, TVOG vice president of exploration.

The company has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.

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 September 30, 2007, and the annual report on Form 10-K for the year ended December 31, 2006.

Source: Business Wire

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