ISRAMCO, INC. Reports Third Quarter Results

HOUSTON, Nov. 8, 2013

Isramco, Inc. reported net income of $3,823,000 or $1.41 per share for the third quarter of 2013 compared to a net loss of $1,159,000 or $0.43 per share for the same period in 2012. This increase in net income was primarily due to royalty revenues from the Tamar Field, increased revenues from well service activities and a 2012 net loss on derivative contracts (with no corresponding loss in 2013). These increases were partially offset by decreased revenues from crude oil, natural gas and NGLs sales in the US and higher income taxes.

The Company reported net income of $6,422,000, or $2.36 per share, for the nine months ended September 30, 2013, as compared to a net income of $2,873,000 or $1.06 per share, for the comparable nine month period in 2012. This increase in net income was primarily due to royalty revenues from Tamar Field and increased revenues from well service activities. This increase was partially offset by Company net gain of $3,650,000 on sale of its investment in shares of Jerusalem Oil Exploration Ltd, a related party and a net gain of $219,000 on derivative contracts in 2012 (with no corresponding gains in 2013), lower crude oil, natural gas and NGLs sales revenues in 2013 as a result of decrease in crude oil, natural gas and NGLs sales volumes, a decrease in NGLs prices, and higher lease operating expenses.

There are currently 2,717,691 outstanding shares of Common Stock.

Isramco's unaudited quarterly results are summarized below (in thousands except for shares outstanding and per share amounts):

	For the Three Months Ended September 30,		For the Nine Months   Ended September 30, ARIVA.DE Börsen-Geflüster Kurse Isramco -   0,00%
	2013	2012	2013	2012
STATEMENT OF OPERATIONS DATA
Revenues	19,585	12,755	48,075	37,047
Total operating expenses	11,780	11,538	33,027	31,639
Operating income	7,805	1,217	15,048	5,408
Net income (loss)	3,823	(1,159)	6,422	2,873
Earnings per share – basic and diluted	1.41	(0.43)	2.36	1.06
CASH FLOW DATA
Net cash provided by operating activities			15,627	14,156
Net cash used in investing activities			(15,344)	(6,891)
Net cash provided by (used in) financing       activities			1,628	(7,249)
			September 30, 2013	December 31, 2012
BALANCE SHEET DATA
Current assets			27,013	17,386
Total assets			169,401	153,958
Total liabilities			143,924	135,143
Total shareholders' equity			25,477	18,815

FORWARD-LOOKING STATEMENTS

ALL STATEMENTS CONTAINED HEREIN, AS WELL AS ORAL STATEMENTS THAT MAY BE MADE BY THE COMPANY OR BY OFFICERS, DIRECTORS OR EMPLOYEES OF THE COMPANY ACTING ON THE COMPANY'S BEHALF, THAT ARE NOT STATEMENTS OF HISTORICAL FACT, CONSTITUTE "FORWARD-LOOKING STATEMENTS" AND ARE MADE PURSUANT TO THE SAFE-HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT COULD CAUSE THE ACTUAL RESULTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE HISTORICAL RESULTS OR FROM ANY FUTURE RESULTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH RISKS AND UNCERTAINTIES ARE OUTLINED IN THE COMPANY'S ANNUAL REPORT ON FORM 10-K FOR 2012, ITS QUARTERLY REPORTS ON FORM-10-Q, AND SUCH OTHER DOCUMENTS AS ARE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION FROM TIME TO TIME. THE COMPANY IS NOT OBLIGATED TO REVISE OR UPDATE ANY FORWARD-LOOKING STATEMENTS IN ORDER TO REFLECT EVENTS OR CIRCUMSTANCES THAT MAY ARISE AFTER THE DATE OF THIS RELEASE.

SOURCE Isramco, Inc.