| Business Summary | | Isramco,
Inc.
is
active
in
the
exploration
of
oil
and
gas
in
Israel.
The
Company,
with
related
and
unrelated
parties,
was
granted
five
licenses,
including
Med
Tel
Aviv
License,
Med
Yavne
License,
Med
Ashdod
License,
Med
Hadera
License
and
Med
Hasharon
License
(the
Med
Licenses).
An
agreement
was
reached
with
BG
International
Limited,
a
member
of
the
British
Gas
Group
(BG),
providing
for
the
acquisition
by
BG
of
a
50%
participation
interest
from
the
license
participants
in
the
Med
Licenses
in
Israel,
and
BG's
replacement
of
the
Company
as
operator
of
the
Med
Yavne
license. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Isramco
acquires,
explores,
operates
and
develops
oil
and
natural
gas
properties
in
Israel.
The
Company
is
also
engaged
in
the
temporary
investment
of
surplus
funds
in
securities.
For
the
six
months
ended
6/01,
revenues
fell
60%
to
$2.7
million.
Net
income
fell
65%
to
$719
thousand.
Revenues
reflect
the
absence
of
a
$3.6
million
gain
on
BG
transaction.
Earnings
also
suffered
from
higher
lease
operating
expenses,
and
the
inclusion
of
equity
in
net
loss
of
investees. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Haim Tsuff, 42 Chairman
and CEO | $300K | Jackob Maimon, 44 Pres,
Director | 40K | Daniel Avner, 37 VP | 218K | Tina Arckens, 45 Sec.,
Director | -- | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|