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 October 24, 1997



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

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

           575 Madison Avenue, New York, New York 10022     Suite 1006
           -----------------------------------------------------------
                    (Address of principal executive offices)

                                  212-605-0417
                                ----------------
                               (Telephone number)

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


                                

<PAGE>



Item 5. Other Materially Important Events

     A. At the Annual Meeting of  Shareholders  of the Corporation the following
persons  were  elected to the Board of Directors to serve for a term of one year
or until their  successors are elected: 
 
                        Daniel Avner 
                        Avihu Ginzburg 
                        Tina Maimon Arckens
                        Haim Tsuff

     B. By written  consent of the Board of  Directors  of the  Corporation  the
following persons were appointed officers of the Corporation to serve for a term
of one year or until their successors are appointed:

           Name                 Office
           Haim Tsuff           Chairman of the Board, Chief Executive Officer,
                                Chief Financial Officer

           Daniel Avner         President and Secretary


     C. At the Annual Meeting of Shareholders of the Corporation the appointment
of Richard A. Eisner & Company,  LLP as independent  auditors of the Corporation
for the calendar year 1997 was ratified and approved.

Item 7. Exhibits - None
        --------


                                      - 2 -
                             

<PAGE>



                                   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)


   October 29, 1997                 By: /s/  HAIM TSUFF
   ----------------                     ----------------------------------------
      (date)                                 Haim Tsuff
                                             Chairman of the Board

                                      - 3 -
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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": "97707422"}, "business-address": {"street1": "575 MADISON AVENUE", "street2": "SUITE 1006", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2126050417"}}
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 October 24, 1997

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

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

           575 Madison Avenue, New York, New York 10022     Suite 1006
           -----------------------------------------------------------
                    (Address of principal executive offices)

                                  212-605-0417
                                ----------------
                               (Telephone number)

             0-12500                                   13-3145265
        ------------------                         -------------------
        Commission File No.                        IRS Employer ID No.
Item 5. Other Materially Important Events

     A. At the Annual Meeting of  Shareholders  of the Corporation the following
persons  were  elected to the Board of Directors to serve for a term of one year
or until their  successors are elected: 
 
                        Daniel Avner 
                        Avihu Ginzburg 
                        Tina Maimon Arckens
                        Haim Tsuff

     B. By written  consent of the Board of  Directors  of the  Corporation  the
following persons were appointed officers of the Corporation to serve for a term
of one year or until their successors are appointed:

           Name                 Office
           Haim Tsuff           Chairman of the Board, Chief Executive Officer,
                                Chief Financial Officer

           Daniel Avner         President and Secretary

     C. At the Annual Meeting of Shareholders of the Corporation the appointment
of Richard A. Eisner & Company,  LLP as independent  auditors of the Corporation
for the calendar year 1997 was ratified and approved.

Item 7. Exhibits - None
        --------

                                      - 2 -
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)

   October 29, 1997                 By: /s/  HAIM TSUFF
   ----------------                     ----------------------------------------
      (date)                                 Haim Tsuff
                                             Chairman of the Board

                                      - 3 -