By OGJ editors
HOUSTON, Mar. 30 – Tri-Valley Corp., Bakersfield, reported 3 million bbl of proved reserves, 800,000 bbl of probable reserves, and 6 million bbl of possible reserves as of yearend 2009 compared with no reportable reserves at the end of 2008 due to low world oil prices late that year.
The 2009 reserves, tallied under new US Securities and Exchange Commission rules, include 6.8 million bbl of probable and possible reserves voluntarily reported by the company for the first time. Most of that is related to Tri-Valley’s interest in its early-stage Pleasant Valley heavy oil development in Oxnard field, Ventura County, Calif.