SOURCE: Tri-Valley Corporation

February 09, 2007 12:55 ET

Tri-Valley Corporation Director Becomes President and CEO of the Federal Reserve Bank of Atlanta

BAKERSFIELD, CA -- (MARKET WIRE) -- February 9, 2007 -- Tri-Valley Corporation (AMEX: TIV) notes the announcement by chairman of the board of the Federal Reserve Bank of Atlanta, that Dennis P. Lockhart will become president and chief executive officer.

Mr. Lockhart has been an active member of the board of directors of Tri-Valley Corporation since 1982, during which time the market capitalization has increased more than 400 times. He serves on the Audit Committee. Tri-Valley is a publicly traded oil, gas and minerals exploration and production company headquarters in Bakersfield, California, Mr. Lockhart's hometown.

A graduate of Stanford University and Johns Hopkins University, Mr. Lockhart's career includes his current positions at Georgetown University and John Hopkins University in Washington, D.C. as professor of international business studies. He is a former president of Heller International and prior to that he held various domestic and foreign senior positions with Citicorp/Citibank and is a member of several boards of directors of both for profit and non-profit companies and organizations.

"Tri-Valley has been privileged to enjoy Mr. Lockhart's active and steadfast participation for the last 25 years during which our Company has advanced 287 places to number 110 on the Oil & Gas Journal annual list of top U.S. petroleum companies. He has consistently contributed his broad perspective and wise counsel to add value and liquidity for Tri-Valley shareholders. We, of course, wish him and his new team every success as they help shape with U.S. and regional monetary policy," said F. Lynn Blystone, president and chief executive officer of Tri-Valley Corporation.

One of 12 regional Reserve Banks in the United States that, together with the Board of Governors in Washington D.C. make up the nation's control bank, the Atlanta headquarters and its branches, serves all or part of six southeast states with approximately 2,000 employees to help formulate monetary policy, supervise and regulate banks and bank holding companies and provide payment service to financial institutions and the federal government.

The Company is in its 44th year of business as a successful operating company and for 33 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.

This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which include such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2006, and the annual report on Form 10-K for the year ended December 31, 2005.

Contact Information

  • Contact:
    F. LYNN BLYSTONE
    PRESIDENT & CHIEF EXECUTIVE OFFICER
    1-800-579-9314