Jun. 10, 2010 (Business Wire) -- Tri-Valley Corporation (NYSE Amex: TIV) today announced that gross oil production during the month of May from its Pleasant Valley tar sands project in Oxnard, California averaged 333 barrels of oil per day as compared to 186 and 256 barrels of oil per day in April and March, respectively. The Company attributes the higher May production to the impact of longer steam injection cycles that were implemented earlier this year, and from recently installed artificial lift capacity. The Company noted that installation of artificial lift has now been completed on all seven of its horizontal production wells on the Hunsucker lease. April production was below March, when some wells were taken out of production while pumps were being installed.
About Tri-Valley
Tri-Valley Corporation explores for and produces oil and natural gas in California, and has two exploration-stage gold properties and a high grade calcium carbonate quarry in Alaska. Tri-Valley is incorporated in Delaware and is publicly traded on the NYSE Amex exchange under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.
Forward-looking Statements
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 "Item IA. Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in the company's Annual Report on Form 10-K for the year ended December 31, 2009 and in “Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" as disclosed in the company’s Quarterly Report on Form 10Q for the most recent quarter ended March 31, 2010.
