Tri-Valley Corporation is proceeding with several projects designed to boost oil and gas production and reportable reserves and build revenues and share value.

“We are in a the strongest financial position in our history with ample cash to fund our development and exploration projects which are underway for 2007 and our capital formation program to sustain and expand those projects is also growing apace”, said F. Lynn Blystone, chairman and chief executive officer.

He noted that the Opus Drilling partnership still has nearly $50 million in funding calls available to perform development work on its three producing properties including the Temblor Valley properties in the South Belridge oilfield 40 miles west of Tri-Valley’s Bakersfield, California headquarters and the parcel some 15 miles east of Bakersfield in the Edison oilfield. A waterflood project on one of the Belridge zones is underway and progressing.

The Company has commenced operations to drill its first test well on its Pleasant Valley property in the Oxnard oilfield 90 miles southwest of Bakersfield to begin proving up an estimated 22 million barrels of steam recoverable oil with only two permits remaining to start drilling. Drilling will also begin in the Chowchilla Ranch and the Moffat Ranch Gas fields 120 miles north of Bakersfield in the third and fourth quarters.