Tri-Valley Corporation (NYSE:TIV) has announced that it has successfully completed its management succession plant. As a result, the company’s former vice chairman and board of directors, G. Thomas Gamble has become the company’s chairman. Maston Cunningham has also been announced as the chief executive officer of the parent company and its five operating subsidiaries and executive of the management partner of its two limited partnerships. Gamble and Cunningham are succeeding F. Lynn Blystone who held the positions during his 29 year career. Mr. Blystone has retired from the company.
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Tri-Valley Corporation (TVC) is in the business of exploring, acquiring and developing petroleum and metal and mineral properties and interests therein. The Company has four segments: Oil and gas operations, Rig operations, Minerals and Drilling and development. The Company has five subsidiaries Tri-Valley Oil & Gas Company (TVOG), Select Resources Corporation (Select), Great Valley Production Services, LLC (GVPS), Great Valley Drilling Company, LLC (GVDC) and Tri-Valley Power Corporation. In June 2008, the Company announced that it has established an alliance with Excalibur Well Services, Inc of Bakersfield, California, and has sold all of its 100% owned Great Valley Production Services production rigs and equipment to Excalibur as part of an arrangement.
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