1

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

                                   FORM 10-QSB

(Mark  One)

[X]  QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
      SECURITIES  AND  EXCHANGE  ACT  OF  1934
        For  the  quarterly  period  ended  September30,  1999

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

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

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

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

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

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

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

                              [ ]              [X ]
                               No             Yes

The  number  of shares of Registrant's common stock outstanding at September 30,
1999  was  19,201,248.

<PAGE>

                                        5

                             TRI-VALLEY CORPORATION

                                      INDEX
<TABLE>
<CAPTION>


                                                            Page
                                                            ----
<S>                                                         <C>
PART I - FINANCIAL INFORMATION

Item 1.  Unaudited Consolidated Financial Statements

  Consolidated Balance Sheets September 30 1999 and
    December 31, 1998. . . . . . . . . . . . . . . . . . .     4

  Consolidated Statements of Operations for the nine
    months ended September 30, 1999 and 1998 . . . . . . .     6

  Consolidated Statements of Cash Flows for the nine
    months ended September 30, 1999 and 1998 . . . . . . .     7

  Notes to Consolidated Financial Statements . . . . . . .     8


Item 2.  Management's Discussion and Analysis of Financial
  Condition and Results of Operations. . . . . . . . . . .     9


PART II - OTHER INFORMATION. . . . . . . . . . . . . . . .    11

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . .    13

</TABLE>



<PAGE>
                         PART I - FINANCIAL INFORMATION

<PAGE>

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

                             TRI-VALLEY CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                     ASSETS

<TABLE>
<CAPTION>


                                     Sept. 30, 1999   Dec. 31, 1998
                                     ---------------  --------------
<S>                                  <C>              <C>
Current Assets
  Cash. . . . . . . . . . . . . . .  $     8,062,669  $      191,226
  Accounts receivable, trade. . . .          136,125         307,573
  A/R Related Parties . . . . . . .            3,750               -
  Prepaid expenses. . . . . . . . .            2,029           2,029
                                     ---------------  --------------

    Total Current Assets. . . . . .        8,204,573         625,828
                                     ---------------  --------------

Property and Equipment, Net . . . .          864,318       1,038,237
                                     ---------------  --------------

Other Assets
  Deposits. . . . . . . . . . . . .          100,000         100,000
  Note Receivable . . . . . . . . .          125,000         125,000
  Acquisition Costs . . . . . . . .          194,102         183,342
  Investments in partnerships . . .           10,686          10,686
  Other . . . . . . . . . . . . . .           13,913          13,913
  Well Database (net of accumulated
    amortization of $32,705 at
    Sept 30, 1999 and $31,550
    at December 31, 1998. . . . . .           74,407          61,561
  Goodwill (net of accumulated
    amortization of $197,035 at
  Sept 30, 1999 and $188,901
    at December 31, 1998. . . . . .          236,818         244,952
                                     ---------------  --------------

      Total Other Assets. . . . . .          754,926         614,454
                                     ---------------  --------------

      Total Assets. . . . . . . . .  $     9,823,817  $    2,278,519
                                     ===============  ==============
</TABLE>



<PAGE>

                            LIABILITIES  AND  SHAREHOLDERS'  EQUITY
<TABLE>
<CAPTION>


                                         Sept. 30, 1999    Dec. 31, 1998
                                        ----------------  ---------------
<S>                                     <C>               <C>
CURRENT LIABILITIES
  Notes and contracts payable. . . . .  $         8,335   $        9,641
  Trade accounts payable . . . . . . .          328,947          582,533
  Amounts payable to joint venture
    participants . . . . . . . . . . .          109,440          244,664
  Advances from joint venture
    participants . . . . . . . . . . .        7,821,563          135,032
  Due to related parties . . . . . . .                -            5,712
  Accrued expenses and
   other liabilities . . . . . . . . .                -                -
                                        ----------------  ---------------

    Total Current Liabilities. . . . .        8,268,285          977,582
                                        ----------------  ---------------

Long-term Portion of Notes and
  Contracts Payable. . . . . . . . . .            6,012            8,527
  Investor Payable . . . . . . . . . .                -                -
                                        ----------------  ---------------

Commitments

Shareholders' Equity
  Common stock, $.001 par value:
    50,000,000 shares authorized;
    19,201,248  and  19,088,248 issued
    and outstanding at Sept 30, 1999
    and Dec. 31, 1998, respectively. .           19,179           19,088
  Less:  Common stock in treasury,
   at cost, 173,825 shares . . . . . .          (44,369)         (41,061)
  Capital in excess of par value . . .        8,218,565        8,177,655
  Accumulated deficit. . . . . . . . .       (6,643,855)      (6,863,272)
                                        ----------------  ---------------

    Total Shareholders' Equity . . . .        1,549,520        1,292,410
                                        ----------------  ---------------

    Total Liabilities and
      Shareholders' Equity . . . . . .  $     9,823,817   $    2,278,519
                                        ================  ===============
</TABLE>



<PAGE>
     The  accompanying  notes  are  an  integral  part  of  these
     condensed  financial  statements.

                                        7

                             TRI-VALLEY CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>

                     For  the  Three  Months                          For  the  Nine  Months


                                                1999          1998         1999          1998
                                             -----------  ------------  -----------  ------------
<S>                                          <C>          <C>           <C>          <C>
Revenues
  Sale of oil and gas . . . . . . . . . . .  $   113,157  $   197,037   $   404,026  $   636,753
  Sale of Property. . . . . . . . . . . . .    1,832,291          -0-     1,907,291          -0-
  Other income. . . . . . . . . . . . . . .        8,146        8,454        28,682       69,632
  Interest income . . . . . . . . . . . . .        3,273       11,514        10,121       62,307
                                             -----------  ------------  -----------  ------------

    Total Revenues. . . . . . . . . . . . .    1,956,867      217,005     2,350,120      768,692
                                             -----------  ------------  -----------  ------------

Cost and Expenses
  Oil and  gas operating expense. . . . . .       19,364       25,545        68,936       81,692
  Lease expense . . . . . . . . . . . . . .      108,836          -0-       108,836          -0-
  Mining Exploration Expenses . . . . . . .       51,879       35,644       142,511      169,377
  Cost of Sale of Property. . . . . . . . .      942,077          -0-       942,077          -0-
  Depletion, depreciation and amortization.       38,850       38,291       116,552      114,874
  Interest. . . . . . . . . . . . . . . . .        6,305          799        13,871        4,246
  General administrative. . . . . . . . . .      210,358      411,703       737,923    1,269,373
                                             -----------  ------------  -----------  ------------
    Total Cost and Expenses . . . . . . . .    1,377,669      511,982     2,130,706    1,639,562
                                             -----------  ------------  -----------  ------------

Net Profit/(Loss) . . . . . . . . . . . . .  $   579,198  $  (294,977)  $   219,414  $  (870,870)
                                             ===========  ============  ===========  ============
Net Income (Loss) per Common Share. . . . .  $       .03  $      (.02)  $       .01  $      (.05)
                                             ===========  ============  ===========  ============
Weighted Average Number of Shares . . . . .   19,174,208   19,063,248    19,174,248   19,063,248
                                             ===========  ============  ===========  ============
</TABLE>



<PAGE>
                             TRI-VALLEY CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>
<CAPTION>

          For  the  Nine  Months
          ----------------------
          Ended  September  30,
          ---------------------

                                                    1999          1998
                                                 -----------  ------------
<S>                                              <C>          <C>
Cash Flows from Operating Activities
  Net loss. . . . . . . . . . . . . . . . . . .  $  219,414   $  (870,870)
  Adjustments to reconcile net income
    to net cash used from operating activities:
      Depreciation, depletion and amortization.     116,552      (114,874)
      Changes in operating capital:
      Amounts receivable. . . . . . . . . . . .     171,448       391,312
      Deposits. . . . . . . . . . . . . . . . .           -             -
      Trade accounts payable. . . . . . . . . .    (253,586)      442,899
      Amounts payable to joint venture
        participants and related parties. . . .    (135,224)     (418,594)
      Advances from joint venture
        participants. . . . . . . . . . . . . .   7,686,531    (1,827,903)
      Accrued expenses and other liabilities. .           -             -
                                                 -----------  ------------

Net Cash Used by Operating Activities . . . . .   7,805,135    (2,398,030)
                                                 -----------  ------------

Cash Flows from Investing Activities
  Capital expenditures. . . . . . . . . . . . .     104,001      (102,785)
                                                 -----------  ------------

Cash Flows from Financing Activities
  Investor payable. . . . . . . . . . . . . . .           -      (103,000)
  Principal payments on long-term debt. . . . .           -       (89,845)
  Proceeds from issuance of common stock. . . .     (37,693)      103,952
                                                 -----------  ------------
      Net Cash Provided by Financing Activities     (37,693)      (88,893)
                                                 -----------  ------------

Net Increase in Cash and Cash Equivalents . . .   7,871,443    (2,589,708)
Cash and Cash Equivalents at Beginning
  Of Period . . . . . . . . . . . . . . . . . .     191,226     2,778,592
                                                 -----------  ------------

Cash and Cash Equivalents at
  End of Period . . . . . . . . . . . . . . . .  $8,062,669   $   188,884
                                                 ===========  ============
</TABLE>



<PAGE>

                                       10

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

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

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

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




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

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



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

BUSINESS  REVIEW

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

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

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

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

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

We finalized an agreement with a consortium of 9 Canadian companies to drill the
Ekho  well  No.  1, our deep exploration play in the south San Joaquin Valley of
California.  The project was completely funded in September, contracts and other
issues  are being completed.  Of the funds received for this well $7,821,563 was
booked  in  the Current Asset as Cash and in the Current Liabilities as Advances
from  joint venture participants. We recorded $1,832,291 on the income statement
as  revenue  from  the  sale of property and recorded the related expenses under
Costs  and  Expenses.  We  anticipate  the well activities to begin immediately.
Tri-Valley  has a 12 1/2 percent carried interest to completion at which time we
will  begin  to  pay our 12 1/2 percent interest. When the well pays out we will
back  in for another 12 1/2 percent working interest.  This has the potential to
be  one  of  the  largest  discoveries  made  in  California  in  many  years.




<PAGE>
ITEM  2.  MANAGEMENT  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
          ----------------------------------------------------------------------
           OF  OPERATIONS  (Continued)
           --------------
BUSINESS  REVIEW  (continued)

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

We  continued  to  explore  our mining exploration activities at our Richardson,
Alaska  mining  claim  with  the  geoscientists  from Russia as described in our
second quarter report on form 10-QSB.  The season work activity was concluded in
September.

Placer  Dome  began  their  work  commitment  in May and concluded their work in
September.  The  project  has  survived the first cut on Placer Dome's retention
list  of world wide projects.  PDUS has until December 31, 1999 to declare their
intentions  for  2000.

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

The  company had revenues of $1,956,867 for the three months ended September 30,
1999.  This was an increase of $1,739,862 from the same period last year and was
due  primarily to the gross revenue generated by the sale of property associated
with  project EKHO well No. 1. The oil and gas sales decreased by $83,880 due to
decline  in  production.

Operating  expenses  for  the  quarter  ended  September  30, 1999, increased by
$865,687  (169%)  to  $1,377,669 from $511,982 in the same quarter in 1998.  Our
expenses  increased  mainly because we incurred costs in preparation of the Ekho
No. 1 project, including lease acquisition and costs associated with selling the
joint  venture  interests.

General  and  Administrative  costs decreased $201,345 from the same period last
year,  this  decrease was due to the decrease in legal costs associated with the
lawsuit.  We  had profit of $579,198 for the three month period ending September
30,  1999  compared  to  a  loss  of  $294,977  for  the  same  period  in 1998.

We  are  expecting  to  be  profitable  for  the  year ending December 31, 1999.

Capital  Resources  and  Liquidity
----------------------------------

At  September  30,  1999,  we had current assets totaling $8,204,573 and current
liabilities totaling $8,268,285.  Because of the receipt of capital to drill the
Ekho  No.  1  in  the third quarter, our total assets increased to $9,823,817 at
September 30, 1999, an increase of $7,545,298 (331%) from $2,278,519 at December
31,  1998.

Operating  Activities.  For  the  nine  months  ended  September  30, 1999, cash
provided  by  operating  activities  totaled $7,871,443 compared to a deficit at
September  30,  1998,  $2,589,708  cash  used by operating activities.  The cash
provided will be reduced as the funds are spent to drill and complete this well.

Financing Activities.  For the nine months ended September 30, 1999, $37,693 was
used  by  financing  activities.  This  represents  costs  associated  with  our
issuance  of common stock to employees as compensation for their services.  This
compares  to a net of $88,893 used by financing activities in the same period in
1998

<PAGE>

                           PART II - OTHER INFORMATION

<PAGE>

                                       13

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

We began foreclosure proceedings against the Third Mobile of Central New York to
try  to  recover in full the funds that were loaned to that partnership in 1997.
This  loan  matured  and  was  due and payable in November of 1997.  However, we
extended  the  repayment  date for an additional six months.  No effort has been
made  to repay any of this debt.  This partnership as asserted a counterclaim in
the  amount  of  five  million  dollars.  We  have  a  general  release from the
counterclaimant  and  believe  this  to be a frivolous and merit less claim.  We
intend  to  vigorously  defend  this  to  whatever  degree necessary to prevail.

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

(a)     Exhibits
(27)  Financial  Data  Schedule

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

<PAGE>
                                   SIGNATURES




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


                        TRI-VALLEY  CORPORATION
                                    (Registrant)



      November  12,  1999      /s/  F.  Lynn  Blystone
                              ------------------------
                                                          F.  Lynn  Blystone
               President  and  Chief  Executive  Officer