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ISRAMCO REPORTS ON DECISIONS CONCERNING NEGEV-ASHKELON LICENSE

 NEW YORK, Dec. 30 /PRNewswire/ -- Isramco, Inc. (NASDAQ: ISRL) reported today that the participants of the Negev-Ashkelon License and the Yam Carveout agreed unanimously to extend the sole risk period in which the participants have to spud the Yam-3 well. The agreed date will be no later than Dec. 31, 1994 or until the expiration of the validity of the Negev-Ashkelon License (as extended from time to time), whichever shall occur last.
 Following detailed feasibility studies on the re-entry of the Yam-2 well, it was recommended by the operator that a decision on whether to re-enter the Yam-2 well will be postponed until after a Yam-3 well has been drilled and the data obtained has been evaluated.
 -0- 12/30/93
 /CONTACT: Dr. Joseph Elmaleh, chairman of Isramco, 212-888-0200, or John Swanson of Swanson Communications, 212-683-4890/
 (ISRL)


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

PS-MP -- NY007 -- 7984 12/30/93 09:19 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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