Valley Financial Corp. Announces Significant Stake in Tri-Valley Corp.

Valley Financial Corp., a closely held corporation, has acquired a significant stake in Tri-Valley Corp., a publicly traded natural resource company with operations in California and Alaska. The acquisition, revealed through a Form 13D filing with the Securities and Exchange Commission, sees Valley Financial take ownership of 484,397 shares of Tri-Valley Corp. common stock, representing approximately 7.02 percent of the company's total outstanding shares.

Key Takeaways:

• Valley Financial Corp. has acquired a significant stake in Tri-Valley Corp., owning 484,397 shares of common stock, representing 7.02 percent of the total outstanding shares.
• Tri-Valley Corp. has operations in the San Joaquin and Sacramento Valleys in California, as well as in Alaska, where it is exploring for precious metals.
• Valley Financial's wholly owned subsidiary, Pacific Energy Resources Inc., is involved in the exploration for and production of crude oil and natural gas, with interests in several oil and gas producing properties in California.
• Tri-Valley Corp. has a 85,000-acre claim position in the Richardson Mining District in Alaska, where it is conducting precious metals exploration.
• Wayne E. Crumpley, president and CEO of Valley Financial, has stated that the company would like to work with Tri-Valley Corp. management to enhance the value of the company's common stock.
• The acquisition has sparked speculation that Tri-Valley Corp. may be considering a spin-off or merger with other companies.

Statistics:

• 484,397 shares of Tri-Valley Corp. common stock owned by Valley Financial Corp. represents 7.02 percent of the total outstanding shares.
• Tri-Valley Corp. has a total of 6,900,277 shares outstanding.
• Valley Financial's subsidiary, San Joaquin Construction Corp., is a wholly owned subsidiary.
• The corporation has three wholly owned subsidiaries: San Joaquin Construction Corp., Golden West Securities Inc., and Pacific Energy Resources Inc.
• Pacific Energy Resources Inc. has interests in several oil and gas producing properties in California.

Sources:

• Valley Financial Corp. Form 13D filing with the Securities and Exchange Commission
• Tri-Valley Corp. quarterly filing (10-Q) with the Securities and Exchange Commission dated April 30, 1993
• PRNewswire announcement of Valley Financial Corp.'s acquisition of 484,397 shares of Tri-Valley Corp. common stock, dated January 17, 1995.