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ISRAMCO REPORTS AVAILABILITY OF DRILLING RIG FOR BESSOR WELL

 NEW YORK, Aug. 2 /PRNewswire/ -- Isramco, Inc. (NASDAQ: ISRL) chairman, Dr. Joseph Elmaleh, reported today that Isramco had received a letter form Lapidot Israel Oil Prospectors Corporation, the Israeli oil drilling and service company, stating that the drilling rig used to drill the "Deep Dead Sea" well, would be released on Aug. 4. At that time, Lapidot would begin dismantling the rig at the "Deep Dead Sea" site and preparations to use it to drill the Bessor well would begin. These procedures include refurbishing, technical adjustments, servicing, transport to the Bessor site and re-assembly.
 Lapidot stated in its letter that it estimated it would hand the rig over to Isramco in the second half of October.
 Isramco, Inc. is the operator of an oil exploration program in Israel, in which a number of Israeli companies also participate. The Bessor well, located in southern Israel, is the first of a program that will also include up to two wells drilled offshore in the Mediterranean. In 1990, Isramco was operator of a program that found oil in the Yam 2 well in the Mediterranean off the coast of Ashdod, Israel.
 -0- 8/2/93
 /CONTACT: David Malkin of Corp. Sec., 212-486-8615, or John Swanson of Swanson Communications, Inc., 212-683-4890, for Isramco/
 (ISRL)


CO: Isramco, Inc. ST: New York IN: OIL SU:

LG-MP -- NY042 -- 8284 08/02/93 10:45 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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