SOURCE: Tri-Valley Corporation

August 10, 2005 15:31 ET

Tri-Valley Taps Business Dean for Board Seat

BAKERSFIELD, CA -- (MARKET WIRE) -- August 10, 2005 -- Tri-Valley Corporation (AMEX: TIV) has added Henry Lowenstein, Ph.D. and Dean of the School of Business and public administrator at California State University, Bakersfield as the sixth outside director on a seven-person board of directors of this American Stock Exchange listed company.

Chosen because of his broad background in business, academe and public service, Dr. Lowenstein has served several universities as instructor, assistant professor, and professor in management, chairman of divisions of business and economics and public administration. In business he has been executive vice president of American Furniture, Inc., vice president and Director of Education at Dominion Bankshares Corporation, and director of education for Kemper Insurance and Financial Group. He served in the U.S. Office of Management and Budget and the Executive Office of the President.

"We continue to strengthen Tri-Valley's corporate governance, resources for complying with the intense increase in regulations and design of internal systems as we conduct our business to increase the value and liquidity of Tri-Valley shares. We believe Dr. Lowenstein will certainly add to our capabilities to deliver results for our shareholders and drilling partners," said F. Lynn Blystone, president, chief executive officer and the only inside director of Tri-Valley Corporation.

Under its Delaware charter and by-laws, the Tri-Valley board may expand or contract the number of directors and has expanded the former six person board to seven and will submit a slate of seven directors for election at its upcoming shareholder meeting October 10 at the Santa Barbara Four Seasons Biltmore.

"Tri-Valley is growing at an unprecedented rate. We are adding technical and support staff and our corporate governance requirements have increased as well. We are on the lookout for staff and board talent to enable us to accept the burgeoning opportunity we now have to build value in Tri-Valley. Dr. Lowenstein has demonstrated uncommon ability to grow his school in quality and size and understands our goals to do the same for our company, its shareholders and project investors," Blystone said.

The Company is in its 43rd year of business as a successful operating company and for 32 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" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are www.tri-valleycorp.com and www.tri-valley.de.

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 includes 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 June 30, 2005, and the annual report on Form 10-K for the year ended December 31, 2004.

Contact Information

  • Contact:
    F. Lynn Blystone
    President & Chief Executive Officer
    1-800-579-9314