Tri-Valley Corp (fka TVLYQ)

[jonesieatl]

Searching For PV Oil & Moffat Gas in the 10-Q

Back when the 2007 10-K was filed we saw a 'discrepancy' between Light Sweet Crude Oil closing prices and what TIV sold their oil for during 2007.

While the simple average of Light Sweet closing prices was $74.94 in 2007 , TIV sold their oil for an average price of $58.23/bbl , or about 22% less.

From the 2007 10-K:

Average Sales Price  
         2007                   2006  
  Gas(MCF)   Oil(BBL)   Gas(MCF)   Oil(BBL)  
      
   $7.15      $58.23     $6.45      $57.10

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29269273

The average price TIV got for NG was about right on the money , as the simple average of NG monthly closing prices in 2007 was $7.24/mcf and TIV got $7.15/mcf.

So as I touched on in the post replied to here , perhaps that 'discount-to-market' holds true for 2008 as well.

If we assume that TIV gets 22% less than Light Sweet closing market prices , then TIV's 2Q08 revenues would have been:

April: $343,380

May: $367,334

leaving $539,286 for June.

If non-confidential production in June was similar to April's and May's , then there could have been June revenues of approx. $184,000 to be spread over PV and Moffat 'C' production.

Okay lol , that's the best I can do.

jonesie