Tri-Valley Corporation

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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 production and turnkey drilling. TVOG primarily generates its own exploration prospects from its internal database, and 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 generally 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. TVOG’s exploration and production properties are primarily located in the prolific Great Central Valley of California and also in Nevada. TVOG is a wholly owned subsidiary of Tri-Valley Corporation and currently has 16 employees.

Great Valley Production Services, LLC, (GVPS) was formed in 2006 to operate oil production and drilling rigs, primarily for TVOG. Tri-Valley has sold 49% of the ownership interest to private parties and has retained a 51% ownership interest in this subsidiary. GVPS is a production services/well work over company whose services are used primarily by TVOG as well as contracted out to third parties. GVPS also re-manufactures production rigs, drilling rigs, and steam generators to better than new working condition. Operations began in the 3rd quarter of 2006. GVPS currently has 38 employees.

Great Valley Drilling Company, LLC (GVDC) was formed in 2006 to operate oil drilling rigs, primarily for TVOG. GVDC is a wholly owned subsidiary of Tri-Valley Corporation. GVDC is based in Nevada and the majority of its work will be drilling petroleum and geothermal wells for third parties. There will be occasions when TVOG contracts this company for its own account at then prevailing rates. Activities for this company began in the first quarter of 2007. The employees of GVDC are included in the totals in our oil and gas industry segment (TVOG) because these functions are not tracked separately.

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. Select also does contract prospecting for precious metals in the western U.S. and South Africa. Select currently has 2 employees. Select Resources Corporation also owns a British Columbia, Canada subsidiary: Select International Resources Corporation.

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