Martin: off topic.
tri valley reported this today. the stock is back to a $1.30. a big hit here will propel us through the roof.
Tri-Valley Moves-In Completion Rig at Holly Sugar No. 1 WellBAKERSFIELD, Calif., Feb. 11 Tri-Valley Oil & GasCo. is moving in a completion rig to test various virgin pressuredzones in its Holly Sugar No. 1 well in the city of Tracy, CA, it wasannounced today by Matt Hickle, Operations Manager for theBakersfield-based California independent. Tri-Valley Corporation,the publicly traded parent of Tri-Valley Oil & Gas Co., is quoted onthe OTC Bulletin Board under the symbol "TRIL".
Log analysis indicates over 100 feet of potentially productivedry gas in multiple reservoirs ranging in depth from 7,000 feet to10,000 feet.
One of these potentially productive reservoirs is highlyproductive in the nearby Lathrop Gas Field, which has produced over350 billion cubic feet of dry gas since its discovery by OccidentalPetroleum in 1961.
The Holly Sugar No. 1 well was drilled in uncharted territory ona deep wildcat primary target generated by Tri-Valley from its ownand proprietary exploration data of Phillips Petroleum Company. However, Tri-Valley designed the borehole to also potentiallybenefit from information yielded by its shallower new pool discoverya year ago about one mile away. The electric logs and mud log fromthe Holly Sugar No. 1 well suggest a strong similarity betweenvarious zones in it and the Lathrop Gas Field, which had initialproduction rates exceeding 10 million cubic feet per day.
If the testing is successful, Tri-Valley will have once againdiscovered new dry gas pools in the Tracy Gas Field and will haveextended the productive limits both vertically and horizontally. This would undoubtedly lead to extensive development drilling in theTracy area for years to come.
A successful Holly Sugar test will bring Tri-Valley's record tofour completions for four tries over the past year beginning withthe Pimental I-15 in the City of Tracy now awaiting pipelineconstruction for hook-up and including the Webb Tract No. 2 and theMartins-Severin No. 6, which added over five million cubic feet perday of initial production to Tri-Valley and propelled it to secondplace among 140 dry gas producers in California in 1997.
For more information, contact F. Lynn Blystone, president andCEO of Tri- Valley Corporation at (805) 837-9300.SOURCE Tri-Valley Oil & Gas Co.
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