Tri-Valley Accelerates O&G Production
Tri-Valley announced additional organizational changes designed to strengthen the Company's focus on accelerating oil revenue generation from existing assets. Under the new structure, Maston Cunningham, president and CEO of Tri-Valley Corporation, will also become president of Tri-Valley Oil & Gas Co. (TVOG). He assumes this role from Joe Kandle. Jim Kromer, vice president of operations, will report to Mr. Cunningham. In addition, the Company has consolidated its minerals activities under Mike Stark, vice president of exploration, who also reports to Mr. Cunningham.
Mr. Kandle will continue to serve as senior vice president of corporate development, dedicated full time to identifying new oil and gas investment opportunities, including the assessment of new technologies.
Mr. Stark assumes additional responsibility for exploration and land management activities for the Company's Alaskan mineral projects in addition to his responsibilities for similar activities for Tri-Valley's oil and gas projects in California. Jim Bush, president of Select Resources Corporation, the Company's minerals subsidiary, will report to Mr. Stark.
John Durbin, chief financial officer, assumes additional responsibilities for human resources and administration and information technology, in addition to his finance, accounting, compliance and risk management responsibilities, and also reports to Mr. Cunningham.
"The board is pressing for accelerating efforts to build shareholder value through increased oil and gas production and the orderly disposition of non-core assets," said Tom Gamble, chairman of Tri-Valley Corporation. "The new Tri-Valley management has had initial success at both. Streamlining the reporting structure allows management to more efficiently drive further increases in production."
- Tri-Valley Concludes Phase I of Claflin Drilling Program (Apr 28)
- Drilling Commences at Tri-Valley's Claflin Project (Apr 04)
- Tri-Valley Starts Development, Enhanced Oil Production at Claflin Project (Feb 10)