1

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

                                   FORM 10-QSB


             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                       SECURITIES AND EXCHANGE ACT OF 1934

For  the quarterly period ended March 31, 2000     Commission File No.0-6119

                             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)

      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.  Yes  [X  ]    No  [  ]


The  number of shares of Registrant's common stock outstanding at March 31, 2000
was  19,345,248.

<PAGE>

                             TRI-VALLEY CORPORATION

                                      INDEX
<TABLE>
<CAPTION>


                                                                Page
                                                                ----
<S>                                                             <C>
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. . . . . .     7


PART II - OTHER INFORMATION. . . . . . . . . . . . . . . . . .    10

    Item 1.  Legal Proceedings . . . . . . . . . . . . . . . .    10

    Item 2.  Changes in Securities . . . . . . . . . . . . . .    10

    Item 6.  Exhibits and Reports on Form 8-K. . . . . . . . .    10

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . .    11
</TABLE>




<PAGE>

                                       3

PART  I  -  FINANCIAL  INFORMATION

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

                             TRI-VALLEY CORPORATION
                           CONSOLIDATED BALANCE SHEETS


                                     ASSETS

<TABLE>
<CAPTION>

                                   March 31, 2000  Dec.31,1999
                                     (Unaudited)    (Audited)
                                     ------------  -----------
<S>                                  <C>           <C>
Current Assets
  Cash. . . . . . . . . . . . . . .  $  7,205,215  $ 8,050,469
  Accounts receivable, trade. . . .       175,477      155,184
  A/R Related Parties . . . . . . .         3,750          -0-
  Prepaid expenses. . . . . . . . .         2,029        2,029
                                     ------------  -----------

    Total Current Assets. . . . . .     7,386,471    8,207,682
                                     ------------  -----------

Property and Equipment, Net . . . .     1,082,801    1,059,755
                                     ------------  -----------

Other Assets
  Deposits. . . . . . . . . . . . .       100,105      100,000
  Note Receivable . . . . . . . . .       125,000      125,000
  Acquisition Costs . . . . . . . .        51,002       50,000
  Investments in partnerships . . .        12,006       12,006
  Other . . . . . . . . . . . . . .        13,914       13,914
  Well Database (net of accumulated
    amortization of $38,140 at
    March 31, 2000 and $37,755
    at December 31, 1999. . . . . .        70,510       70,895
  Goodwill (net of accumulated
    amortization of $202,459 at
  March 31, 2000 and $199,747
    at December 31, 1999. . . . . .       231,394      234,106
                                     ------------  -----------

      Total Other Assets. . . . . .       603,931      605,921
                                     ------------  -----------

      Total Assets. . . . . . . . .  $  9,073,203  $ 9,873,358
                                     ============  ===========
</TABLE>

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

                                        6







                      LIABILITIES AND SHAREHOLDERS' EQUITY
<TABLE>
<CAPTION>


                                         March 31, 2000    Dec. 31, 1999
                                        ----------------  ---------------
<S>                                     <C>               <C>
CURRENT LIABILITIES
  Notes and contracts payable. . . . .  $        10,554   $       10,554
  Trade accounts payable . . . . . . .        1,056,895          391,104
  Amounts payable to joint venture
    participants . . . . . . . . . . .          131,057           95,986
  Advances from joint venture
    participants . . . . . . . . . . .        6,278,376        7,877,600
                                        ----------------  ---------------

    Total Current Liabilities. . . . .        7,476,882        8,375,244
                                        ----------------  ---------------

Long-term Portion of Notes and
  Contracts Payable. . . . . . . . . .           18,893           21,055
                                        ----------------  ---------------


Commitments

Shareholders' Equity
  Common stock, $.001 par value:
    50,000,000 shares authorized;
    19,345,248  and  19,301,248 issued
    and outstanding at March 31, 2000
    and Dec. 31, 1999, respectively. .           19,365           19,281
  Less:  Common stock in treasury,
   at cost, 178,425 shares . . . . . .          (45,163)         (45,163)
  Capital in excess of par value . . .        8,427,338        8,344,462
  Accumulated deficit. . . . . . . . .       (6,824,112)      (6,841,521)
                                        ----------------  ---------------

    Total Shareholders' Equity . . . .        1,577,428        1,477,059
                                        ----------------  ---------------

    Total Liabilities and
      Shareholders' Equity . . . . . .  $     9,073,203   $    9,873,358
                                        ================  ===============
</TABLE>



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

<TABLE>
<CAPTION>

                                      For  the  Three  Months
                                      -----------------------
                                         Ended  March  31,
                                         -----------------

                                       2000          1999
                                    -----------  ------------
<S>                                 <C>          <C>
Revenues
  Sale of oil and gas. . . . . . .  $   134,180  $   152,136
  Other income . . . . . . . . . .      356,545       84,758
  Interest income. . . . . . . . .       15,331        2,747
                                    -----------  ------------

    Total Revenues . . . . . . . .      506,056      239,641
                                    -----------  ------------


Cost and Expenses
  Oil and gas lease expense. . . .       23,801       30,362
  Mining exploration expense . . .       35,424       57,812
  Ekho geology, geophysics,
    Land & administration. . . . .       14,173          -0-
  Sunrise geology, geophysics,
    Land & administration. . . . .      111,470          -0-
  Depletion, depreciation and
    amortization . . . . . . . . .       19,861       38,851
  Interest . . . . . . . . . . . .        2,669          790
  General and administrative . . .      281,249      312,002
                                    -----------  ------------

    Total Cost and Expenses. . . .      488,647      439,817
                                    -----------  ------------

Net (Loss)/Profit. . . . . . . . .  $    17,409  $  (200,176)
                                    ===========  ============


Net (Loss)/Profit per Common Share  $       .00  $      (.01)
                                    ===========  ============

Weighted Average Number of Shares.   19,335,915   19,088,248
                                    ===========  ============
</TABLE>



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


<TABLE>
<CAPTION>

                                                   For  the  Three  Months
                                                   -----------------------
                                                       Ended  March  31,
                                                       -----------------

                                                     2000         1999
                                                 ------------  -----------
<S>                                              <C>           <C>
Cash Flows from Operating Activities
  Net loss/profit . . . . . . . . . . . . . . .  $    17,409   $ (200,176)
  Adjustments to reconcile net income
    to net cash used from operating activities:
      Depreciation, depletion and amortization.       19,861       38,851
      Changes in operating capital:
      Amounts receivable. . . . . . . . . . . .      (24,043)      63,171
      Deposits. . . . . . . . . . . . . . . . .         (105)           -
      Trade accounts payable. . . . . . . . . .      665,791       (8,412)
      Amounts payable to joint venture
        participants and related parties. . . .       35,071      (55,984)
      Advances from joint venture
        participants. . . . . . . . . . . . . .   (1,599,224)     419,687
                                                 ------------  -----------


Net Cash Used by Operating Activities . . . . .     (885,240)     257,137
                                                 ------------  -----------

Cash Flows from Investing Activities
  Capital expenditures. . . . . . . . . . . . .      (40,806)     (45,684)
                                                 ------------  -----------

Cash Flows from Financing Activities
    Principal payments on long-term debt. . . .       (2,168)           0
  Proceeds from issuance of common stock. . . .       82,960       (2,817)
                                                 ------------  -----------
      Net Cash Provided by Financing Activities       80,792       (2,817)
                                                 ------------  -----------

Net Increase in Cash and Cash Equivalents . . .     (845,254)     208,636
Cash and Cash Equivalents at Beginning
  Of Period . . . . . . . . . . . . . . . . . .    8,050,469      191,226
                                                 ------------  -----------

Cash and Cash Equivalents at
  End of Period . . . . . . . . . . . . . . . .  $ 7,205,215   $  399,862
                                                 ============  ===========

Supplemental Information:

  Cash paid for interest. . . . . . . . . . . .  $     2,669   $      790

  Cash paid for taxes . . . . . . . . . . . . .  $     5,958   $    1,330
</TABLE>



<PAGE>

                                        8

                             TRI-VALLEY CORPORATION
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                           FOR THE THREE MONTHS ENDED
                             MARCH 31, 2000 AND 1999
                                   (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
three  month  period ended March 31, 2000, 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, 1999.




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.

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

We  finalized  funding  the  Project  Ekho the end of the third quarter 1999 and
began  the process of contracting for the drilling of this well.  On February 7,
2000  we  began  drilling the well and reached our total depth objective of just
over  19,000  feet in 80 drilling days. We do not have the final numbers on this
yet  but  we  are  anticipating  that  it will be under budget by a considerable
amount.  We  ran various logs to gather data as to the commercial ability of the
well.  Target zones of interest appear as anticipated.  The Company is currently
completing  the  well  in  anticipation  of  putting  it  into  production.

Additionally,  we  have  put  together  another  drilling  project,  the Sunrise
project.  This  has  been  funded  and  we are in the process of contracting and
permitting,  to  enable us to begin drilling in the second quarter of this year.

Precious  Metals
----------------

During  1999,  Placer  Dome  USA  under  its  contractual  obligations  expended
approximately  $799,689,  which included their option fee for continuing for the
year  2000.  For  the first quarter of 2000, due to weather conditions there was
no exploration activity for the Alaska project.  Placer Dome crews are scheduled
to  enter the field on May 15, 2000 to begin their second season of exploration.

<PAGE>
9



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

Three  Months Ended March 31, 2000 as compared with Three Months ended March 31,
--------------------------------------------------------------------------------
1999
----

The  Company had revenues of $506,056 for the three months ended March 31, 2000.
This  was  $266,415 more than the same period in 1999.  This increase was due to
the recognition of revenue generated from the sale of our Sunrise prospect.  Our
Oil  and Gas revenue decreased by $17,956 due to declining production.  Interest
income  increased  due  to  revenue recognized from the sale of prospects.  DD&A
decreased  49%  due  to  the  level  of  depletion  of  producing  wells.

One of our Hanson wells was recompleted and is currently producing.  It had been
shut  in  for a number of years.  Recompletions are planned for two other Hanson
wells.  The Pimental #1-15 well was also recompleted and is currently producing.
It  had  been  shut-in  for  a  number  of  months.

Costs  and expenses were $488,647 for the quarter ended March 31, 2000, compared
to  $439,817  for the same period in 1999.  This $48,830 increase was related to
expenses  for  the Sunrise Prospect.  These costs included lease acquisition and
geological  costs.

General  and Administrative costs decreased $30,753 for this quarter compared to
the  same  quarter  in  1999.  This  decrease was due to reduced legal expenses.

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

At  March  31,  2000,  we  had  current  assets  totaling $7,386,471 and current
liabilities  totaling  $7,476,882.  This  was  a  decrease  of current assets of
$821,211  from  December 31, 1999.  This decrease was from expenses incurred and
paid  related  to  the  drilling  of  the  Ekho  #1  well.

Operating  Activities.  For the three months ended March 31, 2000, cash provided
by  operating  activities  is  a  deficit of $885,240 compared to an increase of
$257,137  at March 31, 1999.  This was due to the drilling operations related to
Ekho  #1.

Financing  Activities.  For  the  three months ended March 31, 2000, the Company
generated  $80,792 from selling its' common stock in private transactions.  This
is compared to a deficit of $2,817 for the same period in 1999, which was due to
the  Company  buying  back  its  common  stock  on  the  open  market.

<PAGE>

                                       11

PART  II  -  OTHER  INFORMATION

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

We  are still proceeding with the foreclosure proceedings regarding Third Mobile
of  Central  New  York.  A  third party, who has filed Chapter 11 bankruptcy, is
claiming  ownership  of  the  assets  securing  our Promissory Note and Security
Agreement.  We  are  defending  our  claim  to  these  assets  and believe their
allegations  are  without merit and we are confident that we will prevail in our
efforts.


ITEM  1.     CHANGES  IN  SECURITIES
             -----------------------

During the first quarter of 2000, we issued 44,000 shares of our common stock to
3  individuals  in  private  transactions pursuant to the exemption contained in
Section  4(2)  of  the  Securities  Act  of 1933, for aggregate consideration of
$61,250.   The  shares  sold  are  restricted  securities  which  bear  a legend
restricting  transfer of the shares unless registered or sold under an exemption
from  registration  requirements  under  the  Securities  Act.

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

(a)     Exhibits
(27)  Financial  Data  Schedule

(b)  Reports  on  Form  8-K:
           None

<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)



      May  10,  2000          /s/  F.  Lynn  Blystone
                              ------------------------
                              F.  Lynn  Blystone
                              President  and  Chief  Executive  Officer


      May  10,  2000          /s/  Thomas  J.  Cunningham
                              ---------------------------
                              Thomas  J.  Cunningham
                              Secretary,  Treasurer,  Chief  Financial  Officer