2

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                   FORM 10-QSB

(Mark  One)

[X]  QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
      SECURITIES  AND  EXCHANGE  ACT  OF  1934
        For  the  quarterly  period  ended  June  30,  1999

[  ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
      SECURITIES  ACT  OF  1934
        For  the  transition  period  from  to.

                           Commission File No. 0-6119
                           --------------------------

                             Tri-Valley Corporation
                             ----------------------
             (Exact name of registrant as specified in its charter)

         Delaware                    No.  84-0617433
-----------------                    ---------------
(State  or  other  jurisdiction of          (I.R.S. Employer Identification No.)
incorporation  or  organization)

      230 South Montclair Street, Suite 101, Bakersfield, California 93309
      --------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (661) 837-9300
                                 --------------
              (Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the Registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.

                              [ ]              [X ]
                               No             Yes

The  number  of shares of Registrant's common stock outstanding at June 30, 1999
was  19,088,248.
                             TRI-VALLEY CORPORATION

                                      INDEX
<TABLE>
<CAPTION>


                                                            Page
                                                            ----
<S>                                                         <C>

PART I - FINANCIAL INFORMATION

Item 1.  Unaudited Consolidated Financial Statements

  Consolidated Balance Sheets June 30 1999 and
    December 31, 1998                                          3

  Consolidated Statements of Operations for the six
    months ended June 30, 1999 and 1998                        5

  Consolidated Statements of Cash Flows for the six
    months ended June 30, 1999 and 1998                        6

  Notes to Consolidated Financial Statements                   7


Item 2.  Management's Discussion and Analysis of Financial
  Condition and Results of Operations                          8


PART II - OTHER INFORMATION                                   11

SIGNATURES                                                    12



                                                               5

</TABLE>


                         PART I - FINANCIAL INFORMATION

ITEM  1.  UNAUDITED  CONSOLIDATED  FINANCIAL  STATEMENTS
          ----------------------------------------------

                             TRI-VALLEY CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                     ASSETS

<TABLE>
<CAPTION>


                                     June 30, 1999   Dec. 31, 1998
                                     --------------  --------------
<S>                                  <C>             <C>

Current Assets
  Cash                               $      163,436  $      191,226
  Accounts receivable, trade                202,209         307,573
  A/R Related Parties                         3,750               -
  Prepaid expenses                            2,029           2,029
                                     --------------  --------------

    Total Current Assets                    371,424         625,828
                                     --------------  --------------

Property and Equipment, Net               1,066,223       1,038,237
                                     --------------  --------------

Other Assets
  Deposits                                  100,000         100,000
  Note Receivable                           125,000         125,000
  Acquisition Costs                         192,279         183,342
  Investments in partnerships                10,686          10,686
  Other                                      13,913          13,913
  Well Database (net of accumulated
    amortization of $32,320 at
    June 30, 1999 and $31,550
    at December 31, 1998                     60,791          61,561
  Goodwill (net of accumulated
    amortization of $194,324 at
  June 30, 1999 and $188,901
    at December 31, 1998                    239,529         244,952
                                     --------------  --------------

      Total Other Assets                    742,198         614,454
                                     --------------  --------------

      Total Assets                   $    2,179,845  $    2,278,519
                                     ==============  ==============
</TABLE>



                            LIABILITIES  AND  SHAREHOLDERS'  EQUITY
<TABLE>
<CAPTION>


                                                         June 30, 1999    Dec. 31, 1998
                                                        ---------------  ---------------
<S>                                                     <C>              <C>

CURRENT LIABILITIES
  Notes and contracts payable                           $        8,335   $        9,641
  Trade accounts payable                                       459,882          582,533
  Amounts payable to joint venture
    participants                                               159,215          244,664
  Advances from joint venture
    participants                                               615,789          135,032
  Due to related parties                                             -            5,712
  Accrued expenses and
   other liabilities                                                 -                -
                                                        ---------------  ---------------

    Total Current Liabilities                                1,243,221          977,582
                                                        ---------------  ---------------

Long-term Portion of Notes and
  Contracts Payable                                              7,303            8,527
  Investor Payable                                                   -                -
                                                        ---------------  ---------------

Commitments

Shareholders' Equity
  Common stock, $.001 par value:
    50,000,000 shares authorized;
    19,088,248  and  19,088,248 issued
    and outstanding at June 30, 1999
    and Dec. 31, 1998, respectively                             19,088           19,088
  Less:  Common stock in treasury,
   at cost, 173,825 shares                                     (44,369)         (41,061)
  Capital in excess of par value                             8,177,655        8,177,655
  Accumulated deficit                                       (7,223,053)      (6,863,272)
                                                        ---------------  ---------------

    Total Shareholders' Equity                                 929,321        1,292,410
                                                        ---------------  ---------------

    Total Liabilities and
      Shareholders' Equity                              $    2,179,845   $    2,278,519
                                                        ===============  ===============
  The accompanying notes are an integral part of these
  condensed financial statements.

                                                                     7

</TABLE>
<TABLE>
<CAPTION>

                             TRI-VALLEY CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

                                                   For  the  Six  Months
                                                   ---------------------
                                                      Ended  June  30,
                                                      ----------------
                                                      1999         1998
                                                 ----------  ------------
<S>                                              <C>         <C>

Cash Flows from Operating Activities
  Net loss                                       $(359,783)  $  (575,893)
  Adjustments to reconcile net income
    to net cash used from operating activities:
      Depreciation, depletion and amortization      77,701        76,583
      Changes in operating capital:
      Amounts receivable                           101,614       316,315
      Deposits                                           -             -
      Trade accounts payable                      (122,651)      121,419
      Amounts payable to joint venture
        participants and related parties           (85,449)     (325,069)
      Advances from joint venture
        participants                               480,757    (1,167,856)
      Accrued expenses and other liabilities             -             -
                                                 ----------  ------------

Net Cash Used by Operating Activities              (92,189)   (1,707,667)
                                                 ----------  ------------

Cash Flows from Investing Activities
  Capital expenditures                            (116,671)      (68,591)
                                                 ----------  ------------

Cash Flows from Financing Activities
  Investor payable                                       -      (103,000)
  Principal payments on long-term debt                   -       (55,790)
  Proceeds from issuance of common stock            (3,308)      107,243
                                                 ----------  ------------
      Net Cash Provided by Financing Activities     (3,308)      (51,547)
                                                 ----------  ------------

Net Increase in Cash and Cash Equivalents          (27,790)   (1,824,805)
Cash and Cash Equivalents at Beginning
  Of Period                                        191,226     2,778,592
                                                 ----------  ------------

Cash and Cash Equivalents at
  End of Period                                  $ 163,436   $   950,787
                                                 ==========  ============
</TABLE>



                                       10

                             TRI-VALLEY CORPORATION
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                            FOR THE SIX MONTHS ENDED
                             JUNE 30, 1999 AND 1998
                                   (Unaudited)

NOTE  1  -  BASIS  OF  PRESENTATION
            -----------------------

The  financial  information  included  herein  is  unaudited;  however,  such
information  reflects  all  adjustments  (consisting  solely of normal recurring
adjustments)  which  are,  in  the  opinion  of management, necessary for a fair
statement  of results for the interim periods. The results of operations for the
six  months  period  ended  June 30, 1999, are not necessarily indicative of the
results  to  be  expected  for  the  full  year.

The  accompanying consolidated financial statements do not include footnotes and
certain  financial  presentations  normally  required  under  generally accepted
accounting  principles;  and,  therefore, should be read in conjunction with the
Company's  Annual  Report  on  Form  10-K  for the year ended December 31, 1998.




NOTE  2  -  PER  SHARE  COMPUTATIONS
            ------------------------

Per  share  computations  are  based  upon the weighted average number of common
shares  outstanding  during each year. Common stock equivalents are not included
in  the  computations  since  their  effect  would  be  anti-dilutive.


ITEM  2.  MANAGEMENT  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
          ----------------------------------------------------------------------
           OF  OPERATIONS
           --------------

BUSINESS  REVIEW

Notice  Regarding  Forward-Looking  Statements
----------------------------------------------

This  report  contains  forward-looking  statements.  The  words,  "anticipate,"
"believe,"  "expect,"  "plan,"  "intend," "estimate," "project," "could," "may,"
"foresee,"  and  similar  expressions  are  intended to identify forward-looking
statements.  These statements include information regarding expected development
of  the Company's business, lending activities, relationship with customers, and
development  in  the oil and gas industry.  Should one or more of these risks or
uncertainties  occur,  or  should underlying assumptions prove incorrect, actual
results  may  vary  materially  and  adversely from those anticipated, believed,
estimated  or  otherwise  indicated.

Computer  Issues  for  the  Year  2000
--------------------------------------

The  Company  is  aware  of  the  issues associated with the programming code in
existing  systems  as  the  millennium  (Year 2000) approaches.  The Company has
examined  the  computer  software  and is confident it will accommodate the Year
2000  issue.  Additionally, the company is contacting its appropriate vendors to
determine  if  they are equipped to handle the Year 2000 issue.  The company has
received  responses  from  all  of its vendors affirming that they are compliant
with  the  Y2K issue.  The funds spent to make this determination were less than
fifty  dollars.

Petroleum  Activities
---------------------

Tri-Valley  Oil & Gas (TVOG) received a letter of intent from Halliburton Energy
Services  proposing an alliance on Project Ekho our deep exploration play in the
South  San  Joaquin  Valley  of  California.  Halliburton is the world's largest
oilfield  service  firm.  The  alliance allows TVOG to receive technical service
and  support  on  a  preferred  basis.

TVOG  has entered into letters of intent with a consortium of Canadian companies
to  participate  in  our  Project  Ekho.  Pursuant  to  the  terms  of the Joint
Operating  Agreement  and  the  Participation Agreement, the Canadians and other
partners  will  drill  up  to  three  wells  free of cost to the Company to test
formations  below  15,000  feet.  Canaccord Capital Corporation, one of Canada's
largest  brokerage  houses,  assembled this consortium for TVOG.  The Company is
planning  to  commence  operations on the first well before the end of the third
quarter  of  this  year.

Precious  Metals  Activities
----------------------------

In  March  we  entered  into  an agreement with Placer Dome U.S., Inc. (PDUS) to
explore, develop and mine 36 square miles of our 50.5 square mile claim block at
Richardson,  Alaska.  In  late May PDUS sent 7 geologists and technicians to the
site,  they will work the area this summer season as long as the weather allows.
We  believe  that  their  work this summer will encourage them to continue their
agreement  with  us  even  though the gold mining industry is going through  the
lowest  gold  price  in  over  20  years.
ITEM  2.  MANAGEMENT  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
          ----------------------------------------------------------------------
           OF  OPERATIONS  (Continued)
           --------------

BUSINESS  REVIEW  (continued)

Additionally,  three  geoscientists  from  TsNIGRI,  which  is  based in Moscow,
Russia,  arrived  in early June to continue exploring the 14.5 square mile claim
block  that  we  retained  for  our own account.  This is the fifth time we have
invited  the  TsNIGRI  team  to  our  claim  block.  Each time their exploration
efforts  have  contributed  results  and  advanced the status of the property by
better  defining  the  claim  block.

Telecommunications
------------------

The  Company  has  decided  not  to  go  forward  with the effort to acquire the
telecommunication general partnerships.  We are using every effort to recoup the
$125,000  plus  interest  from  one of the partnerships we loaned money to.  The
Company  believes  there  is  sufficient asset collateral to allow us to recover
these  amounts.  We expect to have a conclusion to this no later than end of the
fourth  quarter.

Three  Months  Ended  June 30, 1999 as compared with Three Months ended June 30,
--------------------------------------------------------------------------------
1998
----

For  the quarter ended June 30, 1999 revenue was $115,214 less than for the same
quarter  in  1998.  Gas  revenue  was  $81,499 less due to declining production.
Interest  income  was  $21,780 less this period compared to the same period last
year.

Costs  and  expenses were reduced $257,664 this quarter due to decreased General
and  Administrative expenses primarily due to reduced legal expenses, which were
related  to  the  lawsuit.  See:  Item  1.  Legal  Proceedings

The  net  loss  for this quarter was $159,607 compared to a net loss of $302,057
for  the  same  quarter  in  1998.

                           PART II - OTHER INFORMATION

                                       13

ITEM  1.     LEGAL  PROCEEDINGS
             ------------------

Tri-Valley  Oil  and  Gas  Co.  v.  ABA  Energy Corporation et al, No. C97-02561
(Superior  Court  of  Contra  Costa  County,  California).  In  July of 1998 the
Company  filed  a lawsuit against a consulting geologist and a former officer of
Tri-Valley Oil & Gas Company for fraud and theft of trade secrets.  The case was
tried before a judge in early 1999.  In June 1999, the Company was informed that
the  judge  had  issued  a  judgement  denying  the  Company's  complaint.

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K
             -------------------------------------

(a)     Exhibits
(27)  Financial  Data  Schedule

(b)  Reports  on  Form  8-K:  none  were  filed  for  the  period.
                                   SIGNATURES




     Pursuant  to  the  requirement  of the Securities Exchange Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.


                                    TRI-VALLEY  CORPORATION
                                    (Registrant)



      July  30,  1999               /s/  F.  Lynn  Blystone
                                    ------------------------
                                    F.  Lynn  Blystone
                                    President  and  Chief  Executive  Officer