Subsidiaries

Tri-Valley has five subsidiaries and four operating segments/business lines:

Tri-Valley Oil & Gas Company (“TVOG”) operates the oil & gas activities. TVOG derives the majority of its revenue from oil and gas sales. TVOG primarily generates its own exploration prospects, but also screens prospects from other geologists and companies. TVOG generates these geological “plays” within a certain geographic area of mutual interest. The prospect is then presented to potential co-ventures. The company deals with both accredited individual investors and energy industry companies. TVOG serves as the operator of these co-ventures. TVOG operates both the oil and gas production segment and the drilling and development segment of our business lines.

Great Valley Production Services, LLC, (“GVPS”) was formed in 2006 to operate oil production services, well work over and drilling rigs, primarily for TVOG. In July of 2008, the drilling rigs were sold so that going forward the primary operations of GVPS will be to refurbish oilfield equipment for use in the Company’s operations and for sale to outside third parties. During the third and fourth quarters of 2008 Tri-Valley sold 23% of the ownership interest to private parties and retained a 77% ownership interest in this subsidiary.

Great Valley Drilling Company, LLC (“GVDC”) was formed in 2006 to operate an oil drilling rig, primarily in Nevada where Tri-Valley has 17,000 acres of prospective oil leases. With the downturn in Nevada drilling, in part because numerous project permits have been held up and because of abrupt negative economic factors, drilling rig activity is nil at present. GVDC had an opportunity to do contract drilling for third parties, however the opportunity has waned as both petroleum and geothermal projects are at a standstill. For the time being, until further funds from the economic stimulus legislation begin to underwrite geothermal projects, GVDC expects its rig to remain idle for most of 2009. The Company is considering whether to sell the rig.

Select Resources Corporation (Select) was created in late 2004 to manage, grow and operate Tri-Valley’s mineral interests. Select is dedicated to generating wealth through exploration, development, and production of a variety of mineral resources. Select is a wholly owned subsidiary of Tri-Valley Corporation, and Tri-Valley is providing the initial financing and has transferred its mineral properties to Select. These mineral properties include two gold exploration projects totaling 60 square miles in Alaska, a world class high-grade calcium carbonate mine in Alaska, and several base metal exploration properties in Nevada.

Tri-Valley Power Corporation, another wholly owned subsidiary, is inactive at the present time.