|  UNITED                STATES SECURITIES AND EXCHANGE COMMISSION         |
|------------------------------------------------------------------------------------|
|  Washington,                D.C. 20549                                   |
|                                                                     |
|  FORM                10-Q                                                |
|                                                                     |
|                                                                               |
|  QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE  |
|  SECURITIES                AND EXCHANGE ACT OF 1934                      |
|                                                                     |

|  For                the quarterly period ended March 31, 2006  |  Commission                File No. 001-31852  |
|--------------------------------------------------------------------------|----------------------------------------------------------|
|                                                           |                                           |

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

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

|  **4550                California Avenue, Suite 600, Bakersfield, California                93309**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (Address                of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|  **(661)                864-0500**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|  (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. Yes                x                No                o Indicate                by check mark whether the Registrant is an accelerated filer (as                defined                in Rule 12b-2 of the Exchange Act). Yes                x                No                o Indicate                by check mark whether the Registrant is a shell company (as defined                in                Rule 12b-2 of the Exchange Act). Yes                o                No                x |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|  The                number of shares of Registrant's common stock outstanding at April                28,                2006, was 23,188,351.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

|  TRI-VALLEY                CORPORATION  |
|---------------------------------------------------|
|                                    |
|  INDEX                                  |
|                                    |

|                         |                                                                        |  Page   |
|----------------------------------------|---------------------------------------------------------------------------------------|------------------------|
|  PART                I -     |  FINANCIAL                INFORMATION                                       |  3           |
|                         |                                                                        |         |
|  Item                1.      |  Consolidated                Financial Statements                           |  3           |
|                         |                                                                        |         |
|                         |                                                                        |         |
|  Item                2.      |  Management's                Discussion and Analysis of Financial           |         |
|                         |  Condition                and Results of Operations                         |  9           |
|                         |                                                                        |         |
|  Item                3.      |  Quantitative                and Qualitative Disclosures About Market Risk  |  12          |
|                         |                                                                        |         |
|  Item                4.      |  Controls                and Procedures                                     |  13          |
|                         |                                                                        |         |
|                         |                                                                        |         |
|  PART                II -    |  OTHER                INFORMATION                                           |  14          |
|                         |                                                                        |         |
|  Item                1-A     |  Risk                Factors                                                |  14          |
|                                   |                                                                                  |                   |
|  Item                2.      |  Unregistered                Sales of Equity Securities                     |  14          |
|                         |                                                                        |         |
|  Item                6.      |  Exhibits                                                                   |  14          |
|                         |                                                                        |         |
|  SIGNATURES                  |                                                                        |  14          |
|                         |                                                                        |         |

** **
**2      **

----

**Part      I - FINANCIAL INFORMATION**

**Item      1. **
**Unaudited      Consolidated Financial Statements**

**TRI-VALLEY      CORPORATION**

**CONSOLIDATED      BALANCE SHEETS**

|                                                                                                                                 |   | March                31, |           | December                31, |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|----------------|-----------------------------|--------|
|                                                                                                                                 |   | ___2006___               |           | ___2005___                  |   |
| **ASSETS**                                                                                                                           |   | (Unaudited)              |           | (Audited)                   |   |
| Current                assets                                                                                                        |   |                     |           |                        |   |
| Cash                                                                                                                                 |   | $                        | 4,936,443      |                        | $      | 4,876,921 |   |
| Accounts                receivable, trade                                                                                            |   |                     | 157,944        |                        |   | 273,409 |   |
| Advance                receivable                                                                                                    |   |                     | 594,746        |                        |   | 158,460 |   |
| Prepaid                expenses                                                                                                      |   |                     | 42,529         |                        |   | 42,529 |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
| Total                current assets                                                                                                  |   |                     | 5,731,662      |                        |   | 5,351,319 |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
| Property                and equipment, net                                                                                           |   |                     |           |                        |   |   |   |
| Proved                properties                                                                                                     |   |                     | 986,172        |                        |   | 1,146,103 |   |
| Unproved                properties                                                                                                   |   |                     | 2,787,607      |                        |   | 3,009,564 |   |
| Other                property and equipment                                                                                          |   |                     | 9,603,873      |                        |   | 9,480,314 |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
| Total                property and equipment, net                                                                                     |   |                     | 13,377,652     |                        |   | 13,635,981 |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
| Other                assets                                                                                                          |   |                     |           |                        |   |   |   |
| Deposits                                                                                                                             |   |                     | 1,502,004      |                        |   | 316,614 |   |
| Investments                in partnerships                                                                                           |   |                     | 17,400         |                        |   | 17,400 |   |
| Goodwill                                                                                                                             |   |                     | 212,414        |                        |   | 212,414 |   |
| Other                                                                                                                                |   |                     | 142,844        |                        |   | 205,002 |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
| Total                other assets                                                                                                    |   |                     | 1,874,662      |                        |   | 751,430 |   |
|                                                                                                                                 |   |                     |                |                        |   |  |   |
| **Total                assets**                                                                                                      |   | **$**                    | **20,983,976** |                        | **$**  | **19,738,730** |   |
|                                                                                                                                 |   |                     |           |                        |   |   |   |
|                                                                                                                                 |
|                                                                                                                       |
|   The                accompanying notes are an integral part of these condensed financial                statements.  |
|                                                                                                                                 |
|  3                                                                                                                         |

----

| **LIABILITIES                AND STOCKHOLDERS’ EQUITY**                                                                  |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                           |   | March                31, |   | December                31, |   |
|                                                                                                                           |   | ___2006___ |   | ___2005___ |   |
|                                                                                                                           |   | (Unaudited) |   | (Audited) |   |
| Current                liabilities                                                                                             |   |   |   |   |   |
| Notes                payable                                                                                                   |   | $ | 1,104,917 |   | $ | 966,649 |   |
| Accounts                payable and accrued expenses                                                                           |   |   | 1,604,091 |   |   | 1,190,604 |   |
| Advances                from Great Valley Drilling, LLC                                                                        |   |   | 748,000 |   |   | - |   |
| Amounts                payable to joint venture participants                                                                   |   |   | 379,128 |   |   | 161,747 |   |
| Advances                from joint venture participants, net                                                                   |   |   | 5,428,197 |   |   | 5,318,645 |   |
|                                                                                                                           |   |   |   |   |   |   |   |
| Total                current liabilities                                                                                       |   |   | 9,264,333 |   |   | 7,637,645 |   |
|                                                                                                                           |   |   |   |   |   |   |   |
| Non-Current                Liabilities                                                                                         |   |   |   |   |   |   |   |
| Due                to joint ventures                                                                                           |   |   | 257,506 |   |   | 201,748 |   |
| Asset                Retirement Obligation                                                                                     |   |   | 93,897 |   |   | 92,108 |   |
| Long-term                portion of notes payable                                                                              |   |   | 5,103,495 |   |   | 4,234,509 |   |
|                                                                                                                           |   |   |   |   |   |   |   |
| Total                non-current liabilities                                                                                   |   |   | 5,454,898 |   |   | 4,528,365 |   |
|                                                                                                                           |   |   |   |   |   |   |   |
| Total                liabilities                                                                                               |   |   | 14,719,231 |   |   | 12,166,010 |   |
|                                                                                                                           |   |   |   |   |   |   |   |
| Stockholders’                equity                                                                                      |   |   |   |   |   |   |   |
| Common                stock, $.001 par value; 100,000,000 shares                                                               |   |   |   |   |   |   |   |
| authorized;                23,163,351 and 22,806,176 issued and                                                                |   |   |   |   |   |   |   |
| outstanding                at March 31, 2006, and December 31, 2005,                respectively                               |   |   | 23,163 |   |   | 22,806 |   |
| Less:                common stock in treasury, at cost,                                                                        |   |   |   |   |   |   |   |
| 100,025                shares                                                                                                  |   |   | (13,370 | ) |   | (13,370 | ) |
| Capital                in excess of par value                                                                                  |   |   | 27,357,250 |   |   | 25,629,775 |   |
| Additional                paid in capital - stock options                                                                      |   |   | 52,060 |   |   | - |   |
| Accumulated                deficit                                                                                             |   |   | (21,154,358 | ) |   | (18,066,491 | ) |
|                                                                                                                           |   |   |   |   |   |   |   |
| Total                stockholders’ equity                                                                                |   |   | 6,264,745 |   |   | 7,572,720 |   |
|                                                                                                                           |   |   |  |   |   |  |   |
| **Total                liabilities and stockholder’s equity**                                                            |   | **$** | **20,983,976** |   | **$** | **19,738,730** |   |
|                                                                                                                 |
|  The                accompanying notes are an integral part of these condensed financial                statements.  |
|                                                                                                                           |
|  4                                                                                                                   |

----

|  **TRI-VALLEY                CORPORATION**                 |
|----------------------------------------------------------------------|
|  **CONSOLIDATED                STATEMENTS OF OPERATIONS**  |
|  (Unaudited)                                               |

|                                                                |   |  For                the Three Months  |       |
|-------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|
|                                                                |   |  Ended                March 31        |       |
|                                                                |   |  2006                                 |       |  2005  |   |
|  Revenues                                                           |   |                                  |       |     |   |
|  Sale                of oil and gas                                 |   | $                                               | 318,722    |   | $ | 169,126 |   |
|  Other                income                                        |   |                                            | 44,186     |   |   | 9,649 |   |
|  Interest                income                                     |   |                                            | 6,857      |   |   | 23,333 |   |
|  Total                Revenues                                      |   |                                            | 369,765    |   |   | 202,108 |   |
|                                                                |   |                                            |            |   |   |  |   |
|  Cost                and Expenses                                   |   |                                            |            |   |   |  |   |
|  Oil                and gas lease expense                           |   |                                            | 57,414     |   |   | 20,215 |   |
|  Mining                exploration expenses                         |   |                                            | 1,196,490  |   |   | 2,198,246 |   |
|  Drilling                and development                            |   |                                            | 42,561     |   |   | 192,407 |   |
|  Depletion,                depreciation and amortization            |   |                                            | 275,049    |   |   | 19,376 |   |
|  Interest                                                           |   |                                            | 181,581    |   |   | 347 |   |
|  Impairment                loss                                     |   |                                            | 458,564    |   |   | - |   |
|  General                administrative                              |   |                                            | 1,222,213  |   |   | 1,146,628 |   |
|  Total                Cost and Expenses                             |   |                                            | 3,433,872  |   |   | 3,577,219 |   |
|                                                                |   |                                            |            |   |   |  |   |
|  Net                Income (Loss)                                   |   | $                                               | (3,064,107 | ) | $ | (3,375,111 | ) |
|  Basic                Earnings per common share                     |   | $                                               | (.13       | ) | $ | (.15 | ) |
|  Weighted                average number of shares outstanding       |   |                                            | 22,938,902 |   |   | 22,123,363 |   |
|  Diluted                Earnings per common equivalent share   |   | $                                               | (.12       | ) | $ | (.15 | ) |
|  Diluted                average number of shares outstanding        |   |                                            | 25,660,058 |   |   | 22,123,363 |   |
|                                                                          |   |                                            |       |   |   |   |   |

|                                                                                                                 |
|--------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                 |
|  The                accompanying notes are an integral part of these condensed financial                statements.  |
|                                                                                                  |
|  5                                                                                                                   |

----

|     **TRI-VALLEY                CORPORATION**                                                         |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|
|  **CONSOLIDATED                STATEMENTS OF CASH FLOWS**                                                            |   |
|  (Unaudited)                                                                                                         |   |
|                                                                                                                 |   |  For                the Three Months  |   |
|                                                                                                                 |   |  Ended                March 31,  |   |
|                                                                                                                 |   |  2006  |   |  2005  |   |
|  Cash                Flows from Operating Activities                                                                 |   |     |   |     |   |
|  Net                profit/(loss)                                                                                    |   | $ | (3,064,107 | ) | $ | (3,375,111 | ) |
|  Adjustments                to reconcile net income to net cash used from operating                activities:       |   |   |  |   |   |  |   |
|  Depreciation,                depletion and amortization                                                             |   |   | 275,049 |   |   | 19,376 |   |
|  Non                cash mining exploration expense                                                                  |   |   | - |   |   | 2,010,000 |   |
|  Impairment,                dry hole and other disposals of property                                                 |   |   | 458,564 |   |   | - |   |
|  Changes                in operating capital:                                                                        |   |   |  |   |   |  |   |
|  Prepaids-(increase)decrease                                                                                         |   |   | - |   |   | 10,027 |   |
|  Deposits-(increase)                decrease                                                                         |   |   | (13,232 | ) |   | (257,159 | ) |
|  Accounts                receivable-(increase)decrease                                                               |   |   | (320,821 | ) |   | (71,204 | ) |
|  Trade                accounts payable-increase(decrease)                                                            |   |   | 368,087 |   |   | 10,566 |   |
|  Advances                from Great Valley Drilling, LLC-increase(decrease)                                          |   |   | 748,000 |   |   | - |   |
|  Accounts                payable to joint venture                                                                    |   |   |  |   |   |  |   |
|  participants                and related parties-increase(decrease)                                                  |   |   | 273,139 |   |   | 58,723 |   |
|  Advances                from joint venture                                                                          |   |   |  |   |   |  |   |
|  Participants-increase(decrease)                                                                                     |   |   | 109,552 |   |   | 6,052,185 |   |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Net                Cash Provided/(Used) by Operating Activities                                                     |   |   | (1,165,769 | ) |   | 4,457,403 |   |
|  Cash                Flows from Investing Activities                                                                 |   |   |  |   |   |  |   |
|  Note                receivable                                                                                      |   |   | - |   |   | (1,100,000 | ) |
|  Capital                expenditures                                                                                 |   |   | (499,044 | ) |   | (906,832 | ) |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Net                cash provided by (used in) Investing Activities                                                  |   |   | (499,044 | ) |   | (2,006,832 | ) |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Cash                Flows from Financing Activities                                                                 |   |   |  |   |   |  |   |
|  Proceeds                from long-term debt                                                                         |   |   | 1,268,755 |   |   | - |   |
|  Principal                payments on long-term debt                                                                 |   |   | (214,312 | ) |   | (1,958 | ) |
|  Net                proceeds from additional paid in capital - stock options                                         |   |   | 52,060 |   |   |   |   |
|  Proceeds                from issuance of common stock                                                               |   |   | 617,832 |   |   | 1,114,350 |   |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Net                Cash Provided/(Used) by Financing Activities                                                     |   |   | 1,724,335 |   |   | 1,112,392 |   |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Net                Increase in Cash and Cash Equivalents                                                            |   |   | 59,522 |   |   | 3,562,963 |   |
|  Cash                and Cash Equivalents at Beginning of Period                                                     |   |   | 4,876,921 |   |   | 11,812,920 |   |
|                                                                                                                 |   |   |  |   |   |  |   |
|  Cash                and Cash Equivalents at End of Period                                                           |   | $ | 4,936,443 |   | $ | 15,375,883 |   |
|  Supplemental                Information:                                                                            |   |   |  |   |   |  |   |
|  Cash                paid for interest                                                                               |   | $ | 155,841 |   | $ | 347 |   |
|  Cash                paid for taxes                                                                                  |   | $ | - |   | $ | - |   |
|  The                accompanying notes are an integral part of these condensed financial                statements.  |
|  6                                                                                                                   |

----

|  **TRI-VALLEY                CORPORATION**                   |
|------------------------------------------------------------------------|
|  **NOTES                TO CONDENSED FINANCIAL STATEMENTS**  |
|  **FOR                THE THREE MONTHS ENDED**               |
|  **March                31, 2006 and 2005**                  |
|  (Unaudited)                                                 |

|  **NOTE                1 -      ****DESCRIPTION                OF BUSINESS AND BASIS OF PRESENTATION**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
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| Description                of BusinessTri-Valley                Corporation (“TVC” or the Company), a Delaware corporation formed in 1971,                is in the business of exploring, acquiring and developing petroleum                and                metal and mineral properties and interests therein. Tri-Valley has                five                subsidiaries and three operating segments or business lines.  ·  Tri-Valley                Oil & Gas Company (“TVOG”) operates the oil & gas activities. TVOG                derives the majority of its revenue from oil and gas drilling and                development. TVOG primarily generates its own exploration prospects                from                its internal database, and also screens prospects from other geologists                and companies. TVOG generates these geological “plays” within a certain                geographic area of mutual interest. The prospect is then presented                to                potential co-ventures. The company deals with both accredited individual                investors and energy industry companies. TVOG serves as the operator                of                these co-ventures. TVOG operates both the oil and gas production                segment                and the drilling and development segment of our business                lines. ·  Select                Resources Corporation (“Select”) was created in late 2004 to manage, grow                and operate Tri-Valley’s mineral interests. Select operates the Minerals                segment of our business lines both through a joint venture, Tri-Western                Resources, LLC and itself. ·  Great                Valley Production Services, Inc., was formed in February 2006 and                subsequently converted to an LLC in April 2006 to operate oil production                rigs, primarily for TVOG. ·  Great                Valley Drilling Company, LLC was formed in March 2006 to operate                oil                drilling rigs, primarily for TVOG. ·  Tri-Valley                Power Corporation is inactive at the present time. 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 three-month period ended March 31, 2006, 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 in the United States of America; and,                therefore, should be read in conjunction with our Annual Report on                Form                10-K, filed with the Securities and Exchange Commission on March                31, 2006,                for the year ended December 31, 2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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|  Principles                of Consolidation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  The                consolidated financial statements include the accounts of the Company,                its                wholly-owned subsidiaries, Tri-Valley Oil & Gas Co., and Select                Resources, Inc. and Tri-Valley Power Corporation, since their inception.                Great Valley Drilling Company, LLC and Great Valley Productions Services,                LLC are also included. Because the Company is the principal beneficiary                of                a mining venture, it has also consolidated a 50% owned joint venture,                Tri-Western Resources, LLC. Other partnerships in which the Company                has an                operating or nonoperating interest in which the Company is not the                primary                beneficiary and owns less than 51%, are proportionately combined.                These                include Opus I, Martins-Severin, Martins-Severin Deep, and Tri-Valley                Exploration 1971-1 partnerships. All material intra and intercompany                accounts and transactions have been eliminated in combination and                consolidation.                                                                                                                                            |
|  **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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  **NOTE                3 - RECENT ACCOUNTING PRONOUNCEMENTS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  On                December 16, 2004, the Financial Accounting Standards Board (FASB)                issued                FASB Statement No. 123 (revised 2004), "Share-Based Payment" (Statement                123R), which is a revision of FASB Statement No. 123, "Accounting                for                Stock-Based Compensation." Statement 123R supersedes APB Opinion                No. 25,                "Accounting for Stock Issued to Employees," and amends FASB Statement                No.                95, "Statement of Cash Flows." Statement 123R requires a public company                to                measure the cost of employee services received in exchange for an                award of                equity instruments, including stock options, based on the grant-date                fair                value of the award, with limited exceptions. That cost will be recognized                over the period during which the employee is required to provide                service                in exchange for the award, which is typically the vesting period.                Statement 123R eliminates the alternative to use Opinion 25's intrinsic                value method of accounting that was provided in Statement 123 as                originally issued.  |
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|  The                Company adopted FASB Statement No. 123(Revised), “Share-Based Payment,” as                of January 1, 2006 using the "modified prospective" method permitted                by                the Statement. The modified prospective method in which compensation                cost                is recognized beginning with the effective date (a) based on the                requirements of Statement 123R for all share-based payments granted                after                the effective date and (b) based on the requirements of Statement                123 for                all awards granted to employees prior to the effective date of Statement                123R that remain unvested on the effective date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
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| Prior                to adoption of Statement 123R, Tri-Valley accounted for share-based                payments to employees under Statement 123 using Opinion 25's intrinsic                value method and, as such, generally recognizes no compensation cost                for                employee stock options. The adoption of Statement 123R's fair-value                method                will impact Tri-Valley's results of operations, although the future                impact                of adoption of Statement 123R cannot be predicted at this time because                it                will depend on levels of share-based payments granted in the future.                The                expense for the first quarter of 2006 is                $52,060.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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|  In                March 2005, the FASB issued Interpretation No. 47, "Accounting for                Conditional Asset Retirement Obligations - an interpretation of FASB                Statement No. 143," (FIN 47) which clarifies the term "conditional                asset                retirement obligation" used in SFAS No. 143, "Accounting for Asset                Retirement Obligations," and specifically when an entity would have                sufficient information to reasonably estimate the fair value of an                asset                retirement obligation. We adopted FIN 47 as of December 31, 2005.                We do                not expect the adoption of FIN 47 to have a material impact on our                consolidated results of operations and financial condition.  |

|  **NOTE                4 - NOTES PAYABLE**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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|  In                the quarter ended March 31, 2006 Tri-Valley issued three promissory                notes.                Two of these notes were to Ed Moss, Trustee, Moss Family Trust. One                of                these notes is for $618,000. and the other for $257,500. They are                secured                by 100,000 shares and 40,000 shares of Tri-Valley unregistered, restricted                common stock, respectively. The terms on both notes are an interest                rate                of 12.0% per annum, amortized over five years with monthly payments                of                $13,747.07 and $5,727.95, respectively. The adequacy of the collateral                coverage is reviewed at the end of each loan year and if the stock                price                does not support the unpaid balance, additional stock is required                to be                pledged. The purpose of the notes was to assure timely funds to hold,                acquire and refurbish production rigs while more complete capital                was                being raised.   The                third promissory note was issued to F. Lynn Blystone and Patricia                L.                Blystone in the amount of $150,000. Mr. Blystone is the President                and                Chief Executive Officer of Tri-Valley Corporation. The note is to                be paid                on an interest only basis of 1.0% per month and to be paid in full                on or                before March 21, 2007. The note is secured by a six percent (6%)                overriding royalty interest in the Temblor Valley production. The                purpose                was to fund requirement for expanded bonding with the California                Division                of Oil, Gas and Geothermal Resources due to acquisition of more wells                by                the Company while additional capital was being raised                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|  **NOTE                5 - CHANGES IN SECURITIES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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|  During                the first quarter of 2006, we issued the following shares of common                stock.                All of these securities were issued pursuant to privately negotiated                transactions in reliance on the exemption contained in Section 4(2)                of the                Securities Act.  ·  Two                employees exercised employee stock options issued in previous years                to                purchase 152,000 shares of common stock totaling $159,000.  ·  140,000                common shares were pledged as security on two notes payable.  ·  One                private individual purchased 25,000 shares at $8.00 per share for                a total                of $200,000.  ·  Another                private individual purchased 7,500 shares at $8.00 per share for                a total                of $60,000.  ·  Another                private individual purchased 2,000 shares at $8.00 per share for                a total                of $16,000.  ·  Another                private individual purchased 10,000 shares at $8.00 per share for                a total                of $80,000.  ·  Another                private individual purchased 1,875 shares at $8.00 per share for                a total                of $15,000.  ·  Another                private individual purchased 2,250 shares at $8.00 per share for                a total                of $18,000.  ·  Another                private individual purchased 1,000 shares at $8.00 per share for                a total                of $8,000.  ·  Another                private individual purchased 500 shares at $8.00 per share for a                total of                $4,000.  ·  Another                private individual purchased 800 shares at $8.00 per share for a                total of                $6,400.  ·  Another                private individual purchased 500 shares at $8.00 per share for a                total of                $4,000.  ·  Another                private individual purchased 1,000 shares at $8.00 per share for                a total                of $8,000.  ·  Another                private individual purchased 1,000 shares at $8.00 per share for                a total                of $8,000.  ·  Another                private individual purchased 1,000 shares at $8.00 per share for                a total                of $8,000.  ·  Another                private individual purchased 625 shares at $8.00 per share for a                total of                $5,000.  ·  Another                private individual purchased 3,000 shares at $8.00 per share for                a total                of $24,000.  ·  Another                private individual purchased 1,000 shares at $8.00 per share for                a total                of $8,000.  ·  Another                private individual purchased 500 shares at $8.00 per share for a                total of                $4,000.  ·  Another                private individual purchased 1,500 shares at $8.00 per share for                a total                of $12,000.  ·  Another                private individual purchased 1,500 shares at $8.00 per share for                a total                of $12,000.  ·  Another                private individual purchased 1,500 shares at $8.00 per share for                a total                of $12,000.  ·  Another                private individual purchased 625 shares at $8.00 per share for a                total of                $5,000.  ·  Another                private individual purchased 500 shares at $8.00 per share for a                total of                $4,000.  ·  During                the year the common stock issuance cost amounted to approximately                $680,400.  |
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|  **Item                2.     ****Management's                Discussion and Analysis of Financial Condition and Results of                Operations**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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|  **Business                Review**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
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|  Notice                Regarding Forward-Looking Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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|  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 Tri-Valley'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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|     Petroleum                Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
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|  The                petroleum activities during the first quarter of 2006, were all activities                of planning and positioning for execution of future operations. As                of                December 31, 2005, Tri-Valley closed on its Temblor Valley Purchase                consisting of 57-wells in South Belridge and Edison Fields in Kern                County,                California. The quarter was consumed transferring all the normal                and                governmental paperwork over to Tri-Valley, while simultaneously planning                the start of reworking and returning 25-wells to production during                the                second quarter and the planning of drilling several core wells to                evaluate                the optimum approach for development. The same activities occurred                on the                Pleasant Valley Project and the Moffat Ranch Project. The Moffat                Ranch                Project efforts were restricted because of limited availability of                downhole equipment and limited availability of a drilling rig and                production/ workover rigs. Drilling on both the Moffat Ranch and                Pleasant                Valley Projects is expected to occur during the second                quarter.  To                help solve the existing industry wide equipment shortage problem,                Tri-Valley took delivery of its first two production/workover rigs                through                its Great Valley Production Services, LLC subsidiary. Rig #103 is                a                103-foot high “double” with a 212,000-pound pulling capacity. Rig #60 is a                60-foot high, “single” with a 120,000-pound pulling capacity. All of the                associated equipment is assembled to work these rigs and one crew                has been                assembled in May to commence rework on the Temblor Project and Rig                #103                and is scheduled to start drilling 4,000 foot core wells.   A                third rig, Rig #105, a 105-foot high “double” with a 250,000-pound pulling                capacity, was in the process of being remanufactured during the last                portion of the first quarter. Delivery is expected to occur in the                second                quarter. Two more rigs, Rigs #96A & #96B, were also purchased for                remanufacturing to be put into the fleet upon their completion toward                the                end of 2006. Because these rigs all have the newest engines and other                improvements including digital controls, they are actually better                than                when new.  Tri-Valley                also exercised an option to purchase an existing drilling rig currently                owned by Equipment 2000 with headquarters in Fallon, Nevada. The                rig is                capable of drilling to 8,000 feet with 4-1/2” drill pipe and approximately                10,000 feet with 3-1/2” drill pipe. The transaction is expected to be                finalized once the rig has fulfilled its current obligations, which                is                expected to occur approximately June 2006. This drilling rig will                be                operated under a newly created subsidiary, Great Valley Drilling                Co., LLC.                The current owner of Equipment 2000 will become the General Manager                of                Great Valley Drilling Co., LLC and all crews and personnel will be                transferring over to Great Valley Drilling Co., LLC. In addition                to                Tri-Valley’s own inventory of prospects to be drilled (the rig is also                certified for California operation) Nevada is becoming of increasing                interest for exploration due to the large number of structural traps                catalogued. Tri-Valley believes there is more than ample projects                for the                rig and crews.  The                tactical reason for purchasing the rig fleet is to enable Tri-Valley                to                work on its growing inventory of wells and drill new ones as needed                rather                than be delayed for months or even a year because of unavailability                of                contractor supplied rigs. The strategic reason is that as other property                owners experience delays in timely service of their wells and production                begins to decline they will tend to want to sell and the only logical                bidders will be the few companies like Tri-Valley with the equipment                to                service additional properties..  |

|  **Results                of Operations**  |
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|  For                the quarter ended March 31, 2006, revenue was $369,765, compared                to                $202,108 in the first quarter of 2005. We had an operating loss of                about                $3.064 million in the first quarter of 2006, compared to a loss of                $3.375                million in the first quarter of 2005. Non-cash amounts included in                the                loss for the first quarter is depreciation, depletion and amortization                of                $275,049 and impairment write-off of $458,564.  |
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|  The                Company’s revenues from the sale of oil and gas increased from $169,126 in                the first quarter of 2005 to $318,722 in the first quarter of 2006.                This                increase was due to acquisitions of oil producing properties and                price                increases.                                                                                                                                                                                                                                                        |
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|  Other                income increased from $9,649 in the first quarter of 2005 to $44,186                in                the first quarter of 2006, this was due to the increase in the overhead                we                charged for the producing wells due to the increase in the number                of the                producing wells we service. Interest income decreased from $23,333                in the                first quarter of 2005 to $6,857 in the same period of 2006. This                was due                to we had less cash at the first quarter of 2006 compared to the                same                period of 2005. Oil and gas lease expense increased from $20,215                in the                first quarter of 2005 to $57,414 in the same period of 2006 because                of the                new producing wells we acquired at the end of 2005 caused our Lease                operating expenses to increase. Drilling and development expenses                decreased from $192,407 in the first quarter of 2005 to $42,561 in                the                first quarter of 2006 because of the decrease in drilling activities.                Depletion, depreciation and amortization increased from $19,376 in                the                first quarter of 2005 to $275,049 in the same period of 2006 due                to the                increase in the property and equipment value.   Costs                and expenses were approximately $3.4 million (4%) less in the first                quarter of 2006 than in the same period in 2005. We spent $1,196,490                on                mining exploration in the first quarter of 2006 which was $1.02 million                dollars less than the same period in 2005. These are primarily expenses                to                support the industrial minerals joint venture to attain production/revenue                status which is now the case. The reduction was due to decreased                expenditures in acquiring royalty interests in gold mining interests                We                also recognized impairment losses of $458,564, primarily on the write-off                of our Webb #1 Blowout and the write-off of the Tracy Subthrust.                During                our regular evaluation of our prospects, we determined that these                properties are no longer viable.   |
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|  General                and administrative costs totaled $1,222,213 a increased by $75,585                or 7%                from the first quarter in 2005 due to general price increases and                the                continuing support of the industrial minerals joint venture to achieve                production/revenue status which now the case. With the advent of                production both from oilfield development and the industrial minerals                joint venture, the Company looks to greatly reduce its operating                loss in                the second half of 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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|  **Capital                Resources and Liquidity**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|  In                2002 through 2005, our drilling activities have been largely funded                by                selling interests in our OPUS I drilling partnership. We do not borrow                to                fund drilling activities. Our continued drilling activity relies                on our                ability to raise money for projects through drilling partnerships                or other                joint ventures.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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|  Current                assets were about $5.7 million at March 31, 2006, up slightly from                $5.3                million at year end 2005. Cash on hand was nearly the same at                approximately $4.9 million at March 31 and December 31.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|  Current                liabilities rose to about $8.5 million at March 31, 2006, from $7.6                million at year end 2005.due to an increase of about $140,000 in                notes                payable and an increase of about $0.4 million in accounts payable                and                accrued expenses. Amounts payable to joint venture participants also                increase by about $218,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|  Operating                Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|  We                had a negative cash flow of $1,913,769 for the three months ended                March                31, 2006 compared to a positive cash flow of $4,457,403 for the same                period in 2005, negative cash flow in the current period is due mainly                to                our loss from operations. Our loss from operations was approximately                $3.064 million for the three months ended March 31, 2006 compared                to                $3.375 million for the same period in 2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|  The                largest component of positive cash flow in the first quarter of 2005                was                receipt of advances of more than $6 million from joint venture                participants for future drilling operations, which far exceeded advances                received in the first quarter of 2006. These do not contribute to                operating revenues at the time received but are held in cash until                expended in drilling and operations. We cannot predict the levels                at which                we will continue to receive funds for additional drilling, and in                the past                we have experienced wide swings in receipt of these funds from quarter                to                quarter. We do not commit to drilling activities unless and until                we have                sufficient advances in hand to fund a particular project.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

|  Investing                Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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|  Cash                used in investing activities was $499,044 for the first three months                of                2006. $348,360 was used towards the purchase of the new rigs for                Great                Valley Production, $38,564 was invested in buildings and equipment                for                Select Resources and the reminder was for the acquisitions of prospects                for Tri-Valley Oil and Gas.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|  Financing                Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|  Net                cash provided by financing activities was $2,340,569 for the first                quarter. We received $486,066 from sales of restricted shares of                common                stock in privately negotiated transactions including the exercise                of stock                options by employees. We received $748,000 from the sale of membership                units in the Great Valley Drilling Company, LLC. We received $1,268,755                in                proceeds from issuance of long-term debt and used $214,312 to pay                down                principal on long-term debt. We expect to use these funds for working                capital. We have not planned any private placement of equity securities                for the remainder of 2006, but we may continue to receive funds from                privately negotiated transactions. We do not have a targeted or budgeted                amount of equity financing activities. In the first quarter of 2005,                the                net cash provided by financing activities was $1,112,302 from sales                of                restricted shares of common stock in privately negotiated                transactions.                                                                                                                                                                                                                                                                                                                               |
|  Liquidity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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|  During                2006, we expect to expend approximately $10 million on drilling                activities. Funds for these activities will be provided by sales                of                partnership interests in the Opus I drilling partnership. If the                sales of                partnership interests are not adequate, our drilling activities will                be                scaled back to an appropriate level to fund the adjusted balance                of our                drilling activities for 2006. We have not yet planned our proposed                prospect drilling and development activities for 2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|  In                2006, we expect expenditures of approximately $0.6 million on mining                activities, primarily continuing lease obligations in Alaska and                $1.4                million in connection with improving the production capacity of                Tri-Western Resources’ boron mine in California. Production has begun on a                limited basis. The last half of 2006 should see increased production                which                should produce positive cash flow. We had spent approximately $1.2                million                on mining lease and exploration expense in the first quarter of the                year                and expect approximately another $1 million in development expenses                in the                remainder of the year (in addition to operating expenses), after                production at the boron mine begins, to improve our production capacity.                  New                Accounting Pronouncements, Significant Accounting Policies and Critical                Accounting Estimates **New                Accounting Pronouncements** See                note 3 to our interim financial statements. **Significant                Accounting Policies** See                note 2 to our consolidated financial statements in our Form                10-K. **Critical                Accounting Estimates** See                note 2 to our consolidated financial statements in our Form                10-K |
|  **Item                3.****Quantitative                and Qualitative Disclosures About Market Risk**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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|  Tri-Valley                Corporation does not engage in hedging activities and does not use                commodity futures or forward contracts in its cash management                functions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

|  **Item                4.****Controls                and Procedures**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
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|  Disclosure                Controls                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  As                of March 31, 2006, an evaluation was performed under the supervision                and                with the participation of our management, including our Chief Executive                Officer and Chief Financial Officer, of the effectiveness of the                design                and operation of our disclosure controls and procedures. These controls                and procedures are based on the definition of disclosure controls                and                procedures in Rule 13a-15(e) and Rule 15d-15(e) promulgated under                the                Securities Exchange Act of 1934. Based on that evaluation, our management,                including the CEO and CFO concluded that our disclosure controls                and                procedures were effective as of March 31, 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  Management,                including our CEO and CFO, do not expect that our disclosure controls                and                procedures or internal control over financial reporting will prevent                all                errors and fraud. In designing and evaluating our control system,                management recognized that any control system, no matter how well                designed                and operated, can provide only reasonable, not absolute, assurance                of                achieving the desired control objectives. Further, the design of                a control                system must reflect the fact that there are resource constraints,                and                management necessarily was required to apply its judgment in evaluating                the cost-benefit relationship of possible controls and procedures.                Because                of the inherent limitations in all control systems, no evaluation                of                controls can provide absolute assurance that all control issues and                instances of fraud, if any that may affect our operations have been                detected. These inherent limitations include the realities that judgments                in decision-making can be faulty, and that breakdowns can occur because                of                simple error or mistake.  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  During                the first quarter of 2006, there were no material changes in the                Company’s                internal control over financial reporting.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
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|  **PART                II - OTHER INFORMATION**                                                                                                                                                                                                         |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                    |
|  **ITEM                1A.     RISK FACTORS**                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                              |
|  There                have been no material changes from the risk factors previously disclosed                in our                Annual Report on Form 10-K for the fiscal year ended December 31,                2005.                              |
|  **Item                2.    Unregistered Sales of Equity                Securities**                                                                                                                                               |
|                                                                                                                                                                                                                                                    |
|  During                the first quarter of 2006, the Company issued 65,175 shares of restricted                common stock to various private investors at current prices totaling                $542,049.                                           |
|  Both                of these transactions were conducted in reliance on the exemption                from                registration requirements of the Securities Act of 1933 contained                in                Section 4(2) of that Act.  |

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|                                                             |
|----------------------------------------------------------------------------|
|  **Item                6.    ****Exhibits**  |

|  Item  |  Description                                                        |
|------------------|-------------------------------------------------------------------------------|
|  10.1  |  Note                to F. Lynn Blystone and Patricia L. Blystone   |
|  31.1  |  Rule                13a-14(a)/15d-14(a) Certification              |
|  31.2  |  Rule                13a-14(a)/15d-14(a) Certification              |
|  32.1  |  18                U.S.C. Section 1350 Certification                |
|  32.2  |  18                U.S.C. Section 1350 Certification                |

|  **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.  |
|                                                                                                                                                                                                                                   |

|  May                10, 2006  |  **TRI-VALLEY                CORPORATION**  */s/                F. Lynn Blystone*       |
|-----------------------------------------|-------------------------------------------------------------------------------------------------------------|
|                          |  F.                Lynn Blystone  President                and Chief Executive Officer  |
|                          |                                                                                              |
|  May                10, 2006  |  /s/                *Arthur                M. Evans*                                              |
|                                    |  Arthur                M. Evans                                                                   |
|                                    |  Chief                Financial Officer                                                           |

|  15  |
|----------------|

**Exhibit      10.1**

**Promissory      Note**

**Terms      of Repayment**

**Place      of Payment **

**Prepayment**

**Security**

**Default**

**Remedies      and Acceleration**

**Modification      **

**Usury**

**Transfer      of the Note**

**Severability      of Provisions**

**Choice      of Law**

*/s/      Thomas J. Cunningham*

**Exhibit      31.1**

|  Date:                May 10, 2005 |    | /s/F.                Lynn Blystone                                                    |
|-----------------------------------------|--------------|---------------------------------------------------------------------------------------|
|                                    |    | F.                Lynn Blystone, President and Chief Executive                Officer |

----

**Exhibit      31.1**

| Date:                May 10, 2005 |    | /s/Arthur                Evans                       |
|-----------------------------------|--------------|------------------------------------------------------|
|                              |    | Arthur                Evans, Chief Financial Officer |

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**Exhibit      32.2**

**Certification      Pursuant to 18 U.S.C. § 1350**

| Date:                May 10, 2005 |    | /s/Arthur                Evans                       |
|-----------------------------------|--------------|------------------------------------------------------|
|                              |    | Arthur                Evans, Chief Financial Officer |

**Exhibit      32.2**

**Certification      Pursuant to 18 U.S.C. § 1350**

| Date:                May 10, 2005 |    | /s/F.                Lynn Blystone                                                    |
|-----------------------------------|--------------|---------------------------------------------------------------------------------------|
|                              |    | F.                Lynn Blystone, President and Chief Executive                Officer |