Tri-Valley Corp (fka TVLYQ)

[jonesieatl]

2008 GUIDANCE

(Recent guidance given by the company via PR and Shareholder Letters for subsequent tracking purposes)

1/4/08: 4 more PV Horiz. wells in 1Q08
1/4/08: PV-1: steady production rate 200+ BOPD on pump
1/4/08: 4 new PV wells steamed & producing by end of 2Q08
1/4/08: Up to 20 such shallow horiz. wells at PV
1/4/08: Ultimate several thousand BOPD from Vaca zone using SAGD

1/10/08: Moffat Ranch East 48x-7 NG well initial rate 1MMCFD
Moffat Ranch East: drill campaign for 25 NG wells

1/18/08: PV-1 has steady production rate 200 BOPD
1/18/08: Goal: five such wells on production in 2Q08
1/18/08: Aims for 1,000 BOPD or more from these 5 wells
1/18/08: Anticipates drilling 2nd PV suite in 3Q & 4Q08
1/18/08: Preparing to fracture Sespe in PV-2 to enhance flow of
diluent/light oil

2/15/08: Corporate Goal: +2000 BOEPD by EOY 2009 from PV, Moffat Ranch & Temblor Valley West (per PR 5/12/08 which I believe clarifies an interpretive ambiguity I have edited this to assume they originally meant 2,000 BOED by EOY 2008 vs by EOY 2009)
2/15/08: Lundin-Weber No. 188 flowing 34 BOPD
2/15/08: PV-1 on full steam cycle to begin steady production

3/20/08: Returning PV-1 to production after 2nd steam cycle
3/20/08: Anticipate PV-1 higher daily rate + longer prod. cycle
3/20/08: Now est. each PV well in range of 250 BOPD on pump
after each steam cycle.
3/20/08: Expects to drill min. 2 more PV wells by mid-April
3/20/08: Est. goal of 20 such wells by EOY 2008
3/20/08: TIV will consider putting in SAGD infrastructure
3/20/08: Beat goal of 3 new PV wells + 1 on steam
3/20/08: Completed drilling 5th PV well + 2 on steam
3/20/08: Initial Operation Catapult goal 1,000 BOPD end 2Q08
3/20/08: Finalizing contract with outside supplier for
diluent/light oil
3/20/08: Moffat Ranch East 48x-7 NG well 1MMCFD
3/20/08: 1 re-entry + 2 workover wells at Moffat Ranch to
produce additional gas
3/20/08: 2Q08 goal of 2MMCFD by 6/30/08

4/25/08: 7 horizontal bores at PV
4/25/08: Believes will achieve 2,000 BOEPD by EOY 2008
4/25/08: Steaming results (at PV) indicate possible several hundred bbls per day per well production rates
4/25/08: Finalizing permits to drill 12 more wells in 2008 in holdings which could accomodate up to 80 horiz. bores
4/25/08: Intends to re-work 20 idle vert. bores in newly added 120 acres
4/25/08: New gas discovery at Moffat Ranch continues to produce ~1MMCFD
4/25/08: S. Belridge beginning to show gains; 40bbls+ being produced from one of the 5 new wells there.
4/25/08: Scheduling broker/investor awareness seminars
4/25/08: Finalizing Oil King project with chance of identifying 500MM bbls via 15,000 ft. test

5/1/08: 1Q08 Goal of 500 BOPD producing capacity
5/1/08: 2Q08 Goal of 1000 BOPD (actual production per day and sales will be initially lower)
5/1/08: Added 120 acres containing 20 idle vert. bores to PV
5/1/08: These 120 acres will add MM's of BBLs of production & reserves to TIV's account
5/1/08: Finalizing permits for additional PV wells
5/1/08: PV-1 2nd steam cycle increased flow rate
5/1/08: PV-1 put on 3rd steam cycle in lieu of producing
5/1/08: PV-2 off pump and being worked on
5/1/08: PV-3 production to follow shortly
5/1/08: PV-4 pumping at favorable rates
5/1/08: PV-5 PV-6 PV-7 PV-8 being readied
5/1/08: Moffat 49X producing ~1MMCFD
5/1/08: Moffat 8-12: Anticipate production in May, may frac
5/1/08: Moffat 2 on work/eval/frac program
5/1/08: Moffat 2-7-1 May re-entry
5/1/08: Moffat 17-7 Permitted to drill late 2008
5/1/08: Temblor West D352 steamed twice & to be re-steamed
5/1/08: Temblor West D188 produced 40BOPD+, sanded, back on production
5/1/08: Waterflood less than expectations; re-planning
5/1/08: Temblor East Shields & Arms re-work = 2.5 fold field offtake increase in 1Q08
5/1/08: Temblor Overall production now exceeds 100 BOPD target
5/1/08: Scheduling investor/broker awareness seminars

5/12/08: Production from 39 active wells at 1,015 BOED on 5/8/08 & increasing
5/12/08: 7 more wells yet to be put online
5/12/08: Reaffirms 1Q08 Goal was 500 BOED capacity
5/12/08: Reaffirms 2Q08 Goal was 1000 BOED actual production
5/12/08: Reaffirms EOY 2008 Goal is 2,000 BOED
5/12/08: Has begun broker/investor awareness campaign
5/12/08: Several new wells on confidential status but they are extremely pleased with initial production