UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 2, 2007
ISRAMCO, INC.
(Exact name of registrant as specified in its charter)
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Delaware 0-12500 13-3145265
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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11767 KATY FREEWAY, HOUSTON, TX 77079
(Address of principal executive offices, including Zip Code)
713-621-3882
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 . ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
See Item 5.02(c)(1), which is incorporated into this Item 1.01 by reference.
ITEM 5.02 . DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS ; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
(c) APPOINTMENT OF CHIEF FINANCIAL OFFICER . On August 2, 2007, the Board of
Directors of Isramco Inc. ("the "Company") appointed Edy Francis as Chief
Financial Officer. Mr. Francis' election will become effective September 3,
2007. Mr. Francis will work out of the Company's Houston office.
From December 2003 through August 2007, Mr. Francis was affiliated with the Tel
Aviv based office of Brightman Almagor & Co., Certified Public Accountants and a
member firm of Deloitte Touche Tohmatsu where his areas of practice included
auditing publicly traded companies, auditing internal controls and preparing tax
assessments. Prior to that, from May 2000 to June 2002, he was self employed
primarily in the import and distribution of household pet products.
In connection with his appointment as Chief Financial Officer, on August 2, 2007
the Company and Mr. Francis entered into an employment agreement pursuant to
which Mr. Francis will be paid an annual salary of $50,000. Mr. Francis was also
granted a $5,000 bonus upon signing; provided that if employment is terminate
for any reason within 12 months, then such bonus is to be returned to the
Company. The employment agreement provides that either party can terminate the
employment relationship at any time upon 60 days notice. The employment
agreement also includes certain customary confidentiality and non-solicit
provisions.
Attached hereto as Exhibit 99.1 is a copy of the press release that the Company
issued in connection with the appointment.
ITEM 9.01(D): EXHIBITS
Exhibit 99.1 Press Release dated September 6, 2007
SIGNATURES
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.
DATED: SEPTEMBER 6, 2007 ISRAMCO, INC.
BY: /s/ Haim Tsuff
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HAIM TSUFF
CHIEF EXECUTIVE OFFICER