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Isramco Inc. Message Board

  • cactus_pete_spy cactus_pete_spy Nov 8, 2000 9:10 AM Flag

    And a message for ISRAMCO

    Elusive news�.And a message for
    ISRAMCO.

    Has any body heard of any progress in the
    Congo?

    It would benefit ISRAMCO to post any progress in
    this area and any future plans for further

    exploration in any other areas very soon .

    It is not
    wise to keep your stock holders in the dark to long...
    Public Relations and Communication claasses 101......(
    unless you plan on dumping the company and sticking the
    stock holder with the bag) I am frustrated by the fact
    we must gather information through the back
    door....Not a wise stradegy or policy for a company to
    maintain very long... Just my opinion.
    Eldad we hope
    you are ok..
    Pete..

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Yes, the two possibilities you mention for
      management to cash out are pretty much the only permissible
      ones... Hence my concern over other methods for them to
      cash out... I'd prefer not to see Isramtec lead to
      Isramtrade, Isramtelecom, Isramtool, or IsramTV!...


      My experience is that such "lateral" ventures
      usually cause cash leakage, inevitably to the benefit of
      insiders and their business friends. In the worst case
      scenario, they are actually designed for this
      purpose.

      Thankfully, it is the strength of the company's balance sheet
      and large cash position that puts us in the position
      to even discuss these issues...

    • I believe the top two officials of Isramco have
      options at $4.2 or so on 70,000 shares each - and these
      options exercise on about March 2005 (check Edgar for the
      exact dates, prices, and numbers of shares). So I plan
      to consider selling my shares on or about March of
      2005 - I expect maximum price at that time.

      As
      for the other things said, I agree 100%. The point
      I'm trying to make is when you are looking at a 15
      million market cap company which will ultimately manage
      multiple billion dollar wells, it is my hope that there is
      enough money to go around to make EVERYONE a very very
      nice return on investment. Isramco has their foot in
      many many doors right now; they may owe favors to
      other companies and nations, and some favors may be due
      them. When dealing at the billion dollar level, I'm
      willing to wait and see. I hope everyone else will, also.


      Good luck to all longs.

    • I see Avner and others are involved with other
      companies on Ask Edgar. It looks like Haim takes care of
      himself.

      Someday they will want to get the cash
      out of company and into their pockets. Either by
      selling (which I doubt they would ever do) or dividend.

    • If Isramco were to give away rights to
      participate in future wells after going 50/50 on the wildcat
      (or did not secure those rights in the initial deal)
      any competent securities lawyer could rectify the
      matter. I would think there is more to the story. We
      shall see.

    • Yes, Stocksitter, I was aware of this problem and
      it upsets me. You are too kind, using the word
      "almost". Since a multiple-party deal directly with Kardan
      would be too complicated, at least Isramco should be
      granted equivalent participation based on an agreement
      signed only with Naphtha. This is practically worthy of
      an angry letter from the shareholders to Haim Tsuff
      (at least!).

      As for "stealing or trying
      anything illegal", it's the things that insiders can get
      away with legally that are cause for worry. The above
      is a case in point. Really, we should be demanding
      some kind of written representation that Isramco will
      be treated on equivalent terms as Naphtha.


      No?

    • Isramco is pretty closed mouth, I doubt if there
      is any info on IsramTec.

      Isramco's top
      management is trustworthy, they wouldn't think of stealing
      or trying anything illegal - if they did, after 20
      years of operations, it would have become apparent by
      now (if they were crooked).

      What you have to
      wonder about is their loyality to Naptha (51% Owner)
      over the stockholders. For example, both Naptha and
      Isramco go 50-50 on the first CONGO well, but subsequent
      wells will be 100% owned by Naptha (this is according
      to the 10-24-00 article in www.gloves.co.il). It's
      almost like Naptha used Isramco to break the ground for
      their operations. If it looks profitable, then Naptha
      moves in and takes over the rest.

      Keep in mind
      that with gas and oil, there is plenty of money
      floating around (as well as backroom deals being made).
      Patience and continuous small percentages will reward you
      greatly.

    • Does anyone have more info with regards to the
      following quote from the 10Q:

      "In June 2000, the
      Company established IsramTec, Inc., a Delaware
      corporation and wholly-owned subsidiary (hereinafter,
      "IsramTec") for purposes primarily of identifying and
      investing in promising high-tech ventures. The Company
      intends to remit to IsramTec, in the Company's sole
      discretion and as needed from time to time, up to $2.5
      million to enable such investments by IsramTec. In July
      2000, IsramTec invested approximately $400,000 in a
      high tech venture by way of the purchase of 5%
      convertible promissory notes issued by such venture,
      convertible at the discretion of IsramTec, under certain
      conditions, into equity capital of such venture."

      My
      concern is that Isramco's top management has a habit of
      engaging in complicated deals involving numerous
      affiliated entities and cross-ownership. I'm sure that
      altruism is not on their minds when they orchestrate these
      arrangements. These guys make money. Meanwhile, they have a
      reputation for lacking transparency. It would be nice to
      know that if the company's cash is not being
      distributed right now, it is at least being preserved or
      invested in transactions that are truly at arm's
      length.

      Does anybody know if there is anything concrete behind
      this "tech" investment, or is it just a way to siphon
      funds elsewhere? I'll reserve judgement...

    • I agree with you on company performance and
      growth. I've been in on this since early '98. I am not an
      oil insider so my knowledge of industry is
      speculative. I am also small time investor.

      I do know
      a good thing when I see it. This company is super
      bargain basement. I recently increased my position in the
      company. I am ignorant on the political side. However, I
      know what lies in the hearts of people and the owners
      someday are going to cash some of their stock. That's the
      day we all cash. I guess what your saying is it's
      pretty far out and will only happen when political
      situation warrants it.

    • Isramco has $7 dollars in cash.0 debt Operating
      earnings for the quarter of 820,000 or 33 cents a share.
      With income tax it is 14 cents for the quarter. This
      means co without special items is earning about 75
      cents a share.It is spilling out also about 40 cents a
      share in interest on its cash.The company has a good co
      in Us called Jay that alone is worth abour 5 -7
      dollars a share. The international operation is worth
      about 6-8 dollars and much more if the Congo find is
      good. The value of this stock is probably closer to 20
      dollars a share.Plus the Govt is backing co because there
      are only a handful of Israeli oil cos. Good deal

    • stocksitter-that was a great analysis. I am
      invested too for exactly those reasons. I have an oil
      company in West Texas and thus industry experience. I
      like what I see here and I like what Israel and
      Isramco is doing.

    • View More Messages
 
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