Tri-Valley Corporation on Three Subsidiary Officersadmin
Friday, August 1st 2008
Tri-Valley Corporation has published a report saying that the company has promoted three of its Tri-Valley Oil & Gas Co. subsidiary officers to support its expanding petroleum and mineral exploration and production projects. Joseph R. Kandle, former president and chief operating officer of Tri-Valley Oil & Gas Co., has been promoted to senior vice president of corporate development of the publicly traded parent, Tri-Valley Corporation. He will oversee expansion of the largest oil and gas projects and evaluate and negotiate new opportunities for the Corporation and its subsidiaries. Kandle laid the foundation for the current asset development programs. He continues as president of Great Valley Drilling Co. LLC based in Fallon, Nevada which drills both petroleum and geothermal wells.
Robert A. Bell will succeed Kandle as president and chief operating officer of Tri-Valley Oil & Gas Co. As the former vice president of operations, he leads the team that is ramping up production, so far several months ahead of plan this year, and will continue that toward achieving the new goal of at least 3,000 barrels of oil equivalent per day by December 31, 2008. Mr. Bell also becomes president of Great Valley Production Services LLC which just sold its production rigs and equipment to Excalibur Well Services, Inc in a well service alliance preferred client arrangement. However, GVPS retained its fleet of 17 portable steam generators for enhanced heavy oil recovery.
James G. Bush, former vice president of exploration for Tri-Valley Oil & Gas Co., becomes the president of Select Resources Corporation with the mandate to accelerate the exploitation of the subsidiary’s two large gold exploration projects and activate the super high quality Calder calcium carbonate mine. All three properties are in Alaska.
Petroleum exploration will be handled by the existing petroleum geological team of Paul Hacker and Myron Tiede.
“These promotions enable greater management focus on our asset inventory, operations and opportunities to build Company production, revenue, reportable reserves, share value and reward for our project partners as well as cross train our staff for greater utility as we grow,” said F. Lynn Blystone, president and chief executive officer of the parent, Tri-Valley Corporation.
Blystone noted Tri-Valley’s ongoing expansion of producing properties, increasing production and goals being reached ahead of plan during a period of record prices in petroleum and stable high prices for gold and industrial minerals call for continued strengthening in the management platform to maintain an accelerated pace to grow value.
Source: Tri-Valley Corporation