Tri-Valley Corp (fka TVLYQ)

[Howardb41]

Tri-Valley Corporation explores for and produces both oil and natural gas in California plus the company has two exploration-stage gold properties in Alaska. On Wednesday, Tri-Valley Corporation rose 15.75% to $0.294 (TIV has a 52 week trading of $0.25 to $1.05 a share). Investors should note that on Monday, Tri-Valley Corporation reported that 2Q2011 oil and gas production revenues had risen 2% to $474,000 on the back of higher oil prices which partially offset a slight decline in net oil production. However, TIV also reported a net loss of $2.6 million verses a net loss of $4.2 million for 2Q2010.


It should also be noted that Tri-Valley Corporation completed a private placement during the quarter by issuing 10.1 million shares to raise $4.7 million to fund the completion of the first drilling phase of their Claflin oil project near Bakersfield. Hence, Tri-Valley Corporation is in a better financial position now but it still needs to dramatically increase revenue to reduce its losses.