Tri-Valley Corporation - Significant Developments
Abbreviated Press Releases:
Tri-Valley Corporation To Drill New Well
Aug 23, 2004
Tri-Valley Corporation announced that it has commenced operations to drill its Los Gatos prospect near Coalinga, some 100 miles north of Bakersfield, California.
Tri-Valley Corporation Has Successful Test on Big Ekho Deep Well
Jul 19, 2004
Tri-Valley Corporation announced that it has confirmed that a diagnostic hydraulic fracture process on its Ekho deep well indicated a successful breakdown of the Vedder Sand formation at the 18,000- to 18,500-foot-level and provided important information for designing the main "frac" job to be done on the well.
Tri-Valley Corporation to Complete Deep Ekho Well
May 13, 2004
Tri-Valley Corporation announced that it has commenced operations to complete its deep Ekho No.1 well approximately 45 miles northwest of Bakersfield, California. Drilled four years ago to a depth of 19,085 feet, the well found over 2,400 feet of pay in four zones containing exceptionally high quality 48 gravity oil and 1,400 Btu natural gas.
Tri-Valley Corporation to Spin Off Gold Property Into New Company
Mar 11, 2004
Tri-Valley Corporation announced plans to spin off its 42-square-mile gold exploration project at Richardson, Alaska into a new, stand alone mining company.
Tri-Valley Corporation Makes Natural Gas Discovery
Feb 25, 2004
Tri-Valley Corporation announced that it has successfully completed a zone in its Elk Ridge Natural gas exploration prospect some 35 miles northwest of Bakersfield, California. The dry gas is good quality and the Company expects to initially flow the well unstimulated from a tight zone at 350,000 cubic feet per day during the reserve test period. Later, the Company may choose to hydraulically fracture the zone to stimulate increased production. The well bore has additional untested prospective zones up hole. On another front, Tri-Valley has re-perforated a 1,000-foot section in its Sunrise-Mayel 2HR in preparation for re-fracturing using diesel oil.
Tri-Valley Corporation to Commence Operations to Frac Its Sunrise Gas Well
Jan 20, 2004
Tri-Valley Corporation announced that it is commencing operations to re-enter its Sunrise-Mayel No. 2HR to prepare to hydraulically fracture the McClure Shale formation with diesel oil. The target zone is non-water-bearing and not connected with any aquifer. Rather, it is filled with natural gas and natural gas liquids, but has few pathways to allow the hydrocarbons to be extracted at a commercial rate. The Company expects the frac to be performed around the first week of February.
Tri-Valley Corporation to Complete Elk Ridge Well
Jan 12, 2004
Tri-Valley Corporation announced that it has completed drilling its Elk Ridge natural gas prospect 35 miles northwest of Bakersfield, California, with encouraging results. Natural gas shows from the mud log while drilling were confirmed by readings from a standard suite of open hole logs and seven prospective intervals have been identified for testing from 2,700 feet through 4,400 feet.
Tri-Valley Corporation Announces Drilling of New Gas Prospect
Dec 31, 2003
Tri-Valley Corporation announced that it has begun drilling its Elk Ridge natural gas prospect about 40 miles west of Bakersfield, California. The Company estimates a target potential of 25 billion cubic feet for the exploratory test well.
Tri-Valley Corporation Commences Operations on Elk Ridge Gas Prospect
Dec 10, 2003
Tri-Valley Corporation announced that it will commence operations to drill its Elk Ridge Natural Gas Prospect later this month. The prospect is up structure from a Nuevo Energy commercial discovery in 2000 and is further defined by 3-D seismic
Tri-Valley Corporation to Complete Oil Lake Exploratory Well
Nov 16, 2003
Tri-Valley Corporation announced that it will run pipe to complete its B&N No. 1-7 exploratory well on its Oil Lake Prospect as logs have indicated all seven zones targeted have positive indicators for hydrocarbons. The Company was pleasantly surprised to learn the 14 individual intervals giving shows are primarily charged with good Btu natural gas rather than the expected oil.
Tri-Valley Corporation Posts Positive Gold Results
Nov 14, 2003
Tri-Valley Corporation announced positive gold results of its summer drill program on First Chance Creek at Richardson, Alaska. The Company recorded probable and inferred resources of 38,000 ounces of mineable placer gold with a fineness of 895 and a speculative resource of about 100,000 ounces from the 42 reverse circulation drill holes in the first phase of a two-phase 108-hole program. The Company now plans to complete the second phase of drilling in the summer of 2004 in an effort to prove up reserves while entertaining offers from mining contractors and prospective joint venture partners to establish commercial placer production. Three other targets so far defined on Tri-Valley's property are hard rock lode prospects, each of which may contain in excess of one million ounces as indicated by surface and pit geology, and some preliminary diamond drill core holes.
Tri-Valley Corporation Drilling Oil Lake Play
Oct 31, 2003
Tri-Valley Corporation announced that it has begun drilling its Oil Lake Prospect in an attempt to extend the easterly position of the Buena Vista oil field some 35 miles southwest of Bakersfield.
Tri-Valley Corporation Approved for American Stock Exchange
Oct 29, 2003
Tri-Valley Corporation announced that the listing of the Company's common stock will move from the OTC Bulletin Board to AMEX. The Company will trade under the new ticker symbol "TIV."
Tri-Valley Corporation Launches Search for Another Major New Oil Field
Oct 15, 2003
Tri-Valley Corporation announced that it has commenced operations to drill its Oil Lake Prospect to search for a major new oil field between the flanks of the giant Buena Vista Oil Field and the Elk Hills Oil Field some 40 miles southwest of Bakersfield, California. The Company's operating subsidiary, Tri-Valley Oil & Gas Co., will begin building location immediately and hopes to spud the exploration well before the end of October.
Tri-Valley Corporation Boosts Nevada Oil and Gas Exploration
Oct 09, 2003
Tri-Valley Corporation announced that it has increased its Railroad Valley, Nevada land position by another 5,000 acres to total more than 21,700 acres for its three exploratory oil prospects.
Tri-Valley Corporation Drilling Oil Creek Play
Sep 02, 2003
Tri-Valley Corporation announced that the exploration well on its big Oil Creek Prospect has been spudded, drilled to 2,300 feet and surface pipe set in preparation to continue drilling to the target depth of 10,800 feet. he Oil Creek Prospect is located near Coalinga, California and is surrounded by enormous fields which have so far produced nearly two billion barrels of oil and nearly four trillion cubic feet of natural gas. Still, the prospect is about a mile and a half from existing production and has somewhat of a "wildcat" status looking for a new field discovery.
Tri-Valley Corporation Discovers New Gas Production
Jul 23, 2003
Tri-Valley Corporation announced that it has made a new zone discovery from reworking its Webb Tract No. 1 natural gas well west of Sacramento. The Company's subsidiary, Tri-Valley Oil & Gas Co., operator of the well, perforated a 12-foot section of the lower Capay formation and estimates a maximum open flow rate well in excess of 4 million cubic feet per day. Actual production rate will more likely be in the range of 1.2 million to 1.3 million cubic feet per day for optimum recovery, which is the current flow rate with 1,600 Psi flowing tubing pressure.
Tri-Valley Corporation Proceeds on Drilling Big Oil Creek Prospect
Jul 21, 2003
Tri-Valley Corporation announced that it will commence operations to drill its fully funded, major target Oil Creek Prospect near Coalinga, California. The Company believes its data suggests the potential may be the kind of big oil and gas target for which it prefers to explore with six separate prospective zones to be tested.
Tri-Valley Corporation Commences Operations on Alaska Gold Target
Jun 30, 2003
Tri-Valley Corporation announced that it is commencing operations to drill the first of three gold targets on its 42-square mile claim block at Richardson, Alaska, about 65 miles south of Fairbanks. The Company plans to drill 108 seventy to 90-foot holes at three locations across a creek target to test for a deep placer deposit it suspects may be super high grade.
Tri-Valley Corporation Gets Drill Funds for Big Oil and Gas Prospect
Jun 23, 2003
Tri-Valley Corporation announced that it has secured well in excess of $4 million to fully fund drilling of its Oil Creek Prospect, for which it has just received its Fresno County permit and advance other prospects in its drilling program. The Company is completing the final Oil Creek drill permit details and expects to begin mobilizing to drill the exploratory well in July of this year.
Gas Blows on Tri-Valley Corporation
May 22, 2003
Tri-Valley Corporation announced that it has logged in excess of 2,000 feet of gas-saturated diatomite/porcelanite with "excellent" resistivity up to 10 ohms in its Sunrise-Mayel No. 2HR horizontal redrill. The well has all the log and geologic features expected and is scheduled for hydraulic fracturing in late June to liberate the natural gas at what Tri-Valley expects to be commercial rates.
Tri-Valley Corporation Expands Operations at Sunrise-Mayel
Mar 06, 2003
Tri-Valley Corporation announced that it is expanding operations at its Sunrise-Mayel No. 2H natural gas well near Delano, California, to the upper Shafter-Wasco zone of the McClure Shale formation. The Company has moved beyond its current zone, which has a significant amount of clay content that can swell and block gas delivery. The content of the formation surrounding the 3,100 feet of horizontal wellbore apparently reduced the effectiveness of the horizontal fracture process and commercial rates of production were not readily achievable at this time. However, the upper zone is deemed more likely to produce at commercial rates, as subsequent data shows it has far less clay content. The new location will require another horizontal bore in this upper zone.
Tri-Valley Corporation Abandons Aurora #1-19
Dec 13, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it will abandon its Aurora #1-19 well, drilled approximately six miles southeast of McFarland, California. Drilled to a total depth of 5,432 feet, the well tested the Vedder and the Famosa Eocene sands without commercial assurance. Results and data were carefully analyzed as to the potential for a redrill to a different bottom hole location, but alternatives were deemed to be sub-economic.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Commences Drilling Aurora Prospect
Dec 03, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it has begun drilling the Aurora No. 1-19, a new field wildcat some six miles southeast of McFarland, California. The Company is hoping to discover a potential now estimated in the range of 18 million barrels of oil. The Aurora prospect is one of the 26 separate prospects comprising the TVOG Opus I Drilling Program L.P., which the Company has underway.
Tri-Valley Corporation Issues Full Year Earnings Guidance
Nov 27, 2002
Tri-Valley Corporation announced that due to increased earnings and assets for the third quarter ending September 30, 2002, it is estimating profitability for the year ending December 31, 2002.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. to Commence Drilling its Aurora Oil Prospect
Aug 29, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it has commenced operations on its Aurora oil prospect about six miles southeast of McFarland, California. This will be the third of 26 planned exploration prospects in Tri-Valley's Opus I Drilling Program L.P. now being funded by high net worth individual investors.
Tri-Valley Corporation Cuts Gas Section Ahead of Schedule
Jul 29, 2002
Tri-Valley Corporation announced that it is encountering significant natural gas shows as it is drilling ahead of schedule on its Sunrise-Mayel No. 2H well near Delano, California. The No. 2H well is a horizontally drilled follow up to the No. 1 well, which confirmed natural gas in the McClure Shale formation between approximately 5,700 feet and 6,000 feet.
Tri-Valley Corporation Spuds Sunrise-Mayel No. 2 Horizontal Well
Jul 11, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it has begun drilling a horizontal well for dry natural gas with the spudding of the Sunrise-Mayel No. 2 west of the City of Delano. The program calls for drilling vertically to approximately 4,500 feet before beginning the turn, which will extend horizontally up to 3,500 feet in a gas-saturated section of the McClure Shale formation. Tri-Valley notes that the Sunrise-Mayel No. 1 has nearly 300 net feet of McClure pay. Using exclusive and proprietary data derived earlier from Tri-Valley's conventional vertically drilled well, independent engineering firms have calculated that the surrounding 160 acres could hold 72 billion cubic feet of dry natural gas in place. The Company has mapped about 6,600 acres of formation closure in its 8,300-acre lease block.
Tri-Valley Corporation Moves to Complete Sonata 3-1 Well
May 13, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that its Sonata #3-1 has encountered some 700 feet of "gassy" intervals, and the Company has run casing to 4,010 feet to prepare for testing the well. The Company has selected 42 feet of net interval for the completion attempt.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Rigs Up to Drill Sonata #3-1
Apr 01, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it has commenced operations to drill the Sonata #3-1 in northwestern Kern County, California.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Prepares Deep Well for Frac
Feb 28, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it will begin flowing its Ekho No. 1 deep well to prepare it for hydraulic fracturing. According to log and core analysis, the Ekho No. 1 contains four separate zones with over 1,000 total feet saturated with 48 gravity oil and 1,460 Btu natural gas with no contaminants or water.
Tri-Valley Corporation Engages Merchant Bank
Feb 14, 2002
Tri-Valley Corporation announced that it has engaged Aegis Bancorp to assist growing the Company through acquisitions and capital formation. Aegis, a Bakersfield-based merchant bank, will deal with Tri-Valley on an exclusive basis for petroleum and mineral related deals.
Tri-Valley Corporation Prepares to Drill Gold Targets
Feb 06, 2002
Tri-Valley Corporation announced that it is finalizing drill plans on three gold targets at its Richardson, Alaska property. Core drilling on the Buckeye/Bald Knob anomaly will follow up on six previous holes drilled by Placer Dome U.S. Exploration in 1999 and 2000 that failed to intercept ore despite rock chip samples with values as high as 0.13 ounces per ton (opt).
Tri-Valley Corporation Drilling 0 for 1 on Sonata Shallow Gas Plays
Jan 04, 2002
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that its Sonata No. 1 test well did not find commercial hydrocarbons and will be plugged and abandoned.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Ahead On Sonata No. 1
Dec 31, 2001
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it has already drilled past 1,000 feet since spudding the Sonata No. 1 test well on December 29. Surface casing and blow out preventers have been installed and target depth is 4,500 feet. The Company hopes to discover on the order of 25 billion cubic feet of gas in this first prospect.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Readies Sonata No. 1 for Drilling
Dec 10, 2001
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it is commencing operations on the Sonata No. 1, the first of a suite of four wells to test four separate shallow gas prospects west of Delano, California. Ranging from approximately 2,250 feet to 4,500 feet, the targets aggregate approximately 100 billion cubic feet (bcf) of estimated but as yet unproven potential natural gas. The Sonata prospects are south and east of the Trico dry gas field, which has produced 200 bcf and provides the seismic signature for the Company's interpretation.
Tri-Valley Corporation Finds More Alaska Gold
Sep 05, 2001
Tri-Valley Corporation announced that it has completed the first stage of studying a new gold-arsenic-bismuth discovery on its Richardson, Alaska gold exploration project. Named the Hilltop Zone, the zone was sampled in an area 300 feet by 3,000 feet with 56 soil samples and 83 rock chip samples from bedrock. The best fourteen rock chip samples assayed gold grades ranging from 0.2 ounces per ton through 1.9 ounces per ton. Highly anomalous bismuth (up to 289 parts per million) and arsenic (greater than 10,000 ppm) are associated with the elevated gold values. Tri-Valley is presently designing a limited core drilling program for next season to confirm and further define the content and extent of gold in the Hilltop Zone.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Resumes Testing On Deep Ekho Well
Jun 20, 2001
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it is rigging up to resume testing on its deep Ekho No. 1 approximately 45 miles northwest of Bakerfield. Drilled last year on the eastern flank of the East Lost Hills play, the well reached 19,085 feet in 86 days with oil and gas shows across 2,500 feet of intervals. The lower objective, the Vedder Sand of the Lower Temblor Section, proved to be saturated with 48 gravity oil and 1460 Btu gas but low permeability prevented immediate commercial production.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Announces That Delano May Have Huge Gas Field
Apr 11, 2001
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. announced that it believes that California's largest natural gas field may be lying under and by the city of Delano. Dubbed the Sunrise Natural Gas Project, Tri-Valley believes it may contain as much as 3 trillion cubic feet (tcf) of gas in place. Tri-Valley is talking to larger companies interested in acquiring long-term rights in the project, in particular, power-generating companies needing a secure long-term supply. This approach could rapidly accelerate exploitation of the field.
Tri-Valley Corporation's Tri-Valley Oil & Gas Co. Announces the Purchase of Interests in Natural Gas Production
Jun 05, 2000
Tri-Valley Oil & Gas Co. purchased all interests held by Phillips Petroleum Co. in natural gas production on Bethel Island in the Sacramento River Delta. The purchase was made for cash at auction and the total cost was $675,000 for the package and certain future arrangements for recompletions of existing wells and re-exploration of the lease currently operated by Tri-Valley. The acquisition of Phillips' 42.5% working interest in the Martins-Severin production brings Tri-Valley's interest to more than 54%.
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