SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report: June 23, 2000
ISRAMCO, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12500 13-3145265
(State or Other Jurisdiction Commission File IRS Employer
of Incorporation) Number) Identification No.)
1770 St. James Place, Houston, Texas 770516 Suite 607
(Address of Principal Executive Offices)
713-621-3882
(Registrant's Telephone Number, including Area Code)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
Isramco Inc. announced that an agreement with a drilling contractor for
the drilling of an onshore well, the Tilapia-Land 1 within the Tilapia permit in
the Congo, has been signed. The drilling is scheduled for September 2000 at an
estimated budget of approximately $2.8 million (inclusive of production tests).
An offshore well, Tilapia-1, previously drilled by ELF, tested oil at a
rate of 2,000 barrels per day, from a sandstone reservoir. The current onshore
drilling on Tilapia-Land-1, is planned as a deviated well, to reach the same
sandstone reservoir. It is intended, subject to results of the test, to complete
the well for production.
Isramco Inc. holds a 50% participation interest in the Tilapia permit. The
remaining participation interest is held by an affiliated entity, Naphtha Israel
Petroleum Corp. Ltd., which holds approximately 50.2% of the issued and
outstanding stock of Isramco.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: June 23, 2000 Isramco, Inc.
By: /s/ Haim Tsuff
Haim Tsuff
Chairman of the Board
