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 Earliest Reported Events November 23, 1998




                                  ISRAMCO, INC.
                                  -------------
               (Exact name of registrant as specified in charter)

                                    Delaware
                                    --------
                            (State of Incorporation)

               1770 St. James Place, Houston, Texas 7705  Suite 607
               ----------------------------------------------------
                          (Address of principal executive offices)

                                  713-621-3882
                                  ------------
                               (Telephone number)

               0-12500                                   13-3145265
               -------                                   ----------
          Commission File No.                        IRS Employer ID No.


<PAGE>


Item 4. Changes in Registrant's Certifying Accountant
        ---------------------------------------------

     On  November  23, 1998 the firm of Hein +  Associates  LLP,  the  Company's
principal  auditors  resigned.  The Audit Committee of the Board of Directors is
presently  having  discussions  with other auditing firms for appointment as the
Company's auditors.

     There exists no disagreements between the Company and Hein + Associates LLP
on any  matter  of  accounting  principles  or  practices,  financial  statement
disclosure, or audit scope or procedure.

Item 5. Other Events
        ------------

     The  Company  has  received a Nasdaq  Delisting  Notice for its Class A and
Class B Warrants on the Nasdaq SmallCap Market.  The reason for delisting of the
Class A and Class B Warrants  stated by Nasdaq  Listing  Qualifications  was the
failure of the  Company's  Warrants to  maintain a minimum of two active  market
makers. To be eligible for continual listing, all securities must maintain a new
minimum of two active market makers.

     The Company does not intend to appeal this decision by Nasdaq.

Item 7. Exhibits
        --------

     Exhibit A - Letter of Hein + Associates LLP.




                                   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.

                                            Isramco, Inc.
                                            (registrant)


  November 24, 1998                         By: /s/ Haim Tsuff
---------------------                          ---------------------------------
    (date)                                     Haim Tsuff
                                               Chairman of the Board


                                      - 2 -
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{"company-data": {"conformed-name": "ISRAMCO INC", "cik": "0000719209", "assigned-sic": "1311", "irs-number": "133145265", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-12500", "film-number": "98760673"}, "business-address": {"street1": "1770 ST JAMES PL", "street2": "STE 607", "city": "HOUSTON", "state": "TX", "zip": "77056", "phone": "7136213882"}, "mail-address": {"street1": "1770 ST JAMES PLACE", "street2": "SUITE 607", "city": "HOUSTON", "state": "TX", "zip": "77056"}}
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 Earliest Reported Events November 23, 1998

                                  ISRAMCO, INC.
                                  -------------
               (Exact name of registrant as specified in charter)

                                    Delaware
                                    --------
                            (State of Incorporation)

               1770 St. James Place, Houston, Texas 7705  Suite 607
               ----------------------------------------------------
                          (Address of principal executive offices)

                                  713-621-3882
                                  ------------
                               (Telephone number)

               0-12500                                   13-3145265
               -------                                   ----------
          Commission File No.                        IRS Employer ID No.
Item 4. Changes in Registrant's Certifying Accountant
        ---------------------------------------------

     On  November  23, 1998 the firm of Hein +  Associates  LLP,  the  Company's
principal  auditors  resigned.  The Audit Committee of the Board of Directors is
presently  having  discussions  with other auditing firms for appointment as the
Company's auditors.

     There exists no disagreements between the Company and Hein + Associates LLP
on any  matter  of  accounting  principles  or  practices,  financial  statement
disclosure, or audit scope or procedure.

Item 5. Other Events
        ------------

     The  Company  has  received a Nasdaq  Delisting  Notice for its Class A and
Class B Warrants on the Nasdaq SmallCap Market.  The reason for delisting of the
Class A and Class B Warrants  stated by Nasdaq  Listing  Qualifications  was the
failure of the  Company's  Warrants to  maintain a minimum of two active  market
makers. To be eligible for continual listing, all securities must maintain a new
minimum of two active market makers.

     The Company does not intend to appeal this decision by Nasdaq.

Item 7. Exhibits
        --------

     Exhibit A - Letter of Hein + Associates LLP.

                                   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.

                                            Isramco, Inc.
                                            (registrant)

  November 24, 1998                         By: /s/ Haim Tsuff
---------------------                          ---------------------------------
    (date)                                     Haim Tsuff
                                               Chairman of the Board

                                      - 2 -