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Isramco Inc. Message Board

  • winbagger winbagger Jan 17, 2001 12:21 PM Flag

    They still don't get it

    Hey folks....

    Read the previous posts.

    Sure Isramco looks good on paper. But that doesn't mean a thing.

    Isramco management has a long and proud history of doing absolutely nothing for the stockholders. Iramco exists for political reasons, not business reasons. They've never made any real money in the past, but now that they're (almost accidentally) seeing some good cash flow, they've been blowing it away in a series of dubious business dealings and pointless explorations in already dead oil fields.

    Wait a while. Soon enough, all of the cash inflow they've been experiencing will be either traded away or blown on bogus oil exploration. And Isramco's managers and their cronies will have a lot of extra cash stuffed into their pockets. And once again the stock will be almost worthless. Then, they will have their penny stock sharks do yet another stock issue, which they will sell to nieve retirees who want to help Israel be oil self-sufficient. The proceeds will wind up in management's pockets once again, and stock will be worthless again, and so the cycle continues.

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    • seem to be interested . As i said before royaties to Isramco from a 340 billion cuft natural gas pipeline are much more money than buying Isramco and naphtha outright. I would expect this sooner than later perhaps.

    • good earnings , runup and shortages of natural gas,And a big reserve with British gas seems like a very undervalued stock. This is a stock that is hedging on gas industry overseas in addition to solid business in US. Seems like a buyback is a no brainer, or split to increase shares at a price over 10 dollars a share. Found it from my broker at Merrill who says he has been seeing it more active lately

    • I thought you could short anything, just as long as it was on an uptick. I thought that individual brokerages can limit what you could short, but I didn't think the exchanges could (never shorted myself, so I'm a little hazy on the restrictions). If someone could give a little more guidance on the restrictions, I'd appreciate it.

      Thanks...

    • that Isramco is like a bank with cash that has more cash than the stock price. This bank has a very successful operation in Texas called Jay. It also has a recurring revenue royalty arrangement with 6 other partners and British Gas in the biggest reserve in Israel that anyone has ever participated in. This co also has as its other than cash asset, a whole bunch of securities and stock in its partners. It also has its intersts in the best performing commodity of natural gas in the last year. Then the funds are starting to look at the co. These are pretty good ingredients.

    • I bought the stock in 1995 because of greed, and the understanding that there is plenty of oil and gas in Israel (to be found). My last share just sold today in a 3200 block at 6 1/2. In 1995 I began to buy, starting with 50,000 shares at 23/32 (pre 10-1 split), buying down to $2, then buying on back up to $5 1/2 until I had 37,500 shares (post split). I've sold this past month, made about $45,000 over five years.

      I am over my greed now, but don't want to continue to talk bad about a stock that I've made money on, sold, and now is going up, therefore, I won't say much.

      There's plenty of info on the stock being posted, assume both sides are truthful (I think most are), and make your choice. Isramco is not black or white, it is grey. It is also worth exactly what other stockholders say it is worth, no more, and no less. As to the future, I think earnings will go to near zero (to many interlocking partnerships amoung the oil drillers in Israel - and they take care of themselves, first), but the assets and book value of Isramco will continue to grow.

      Isramco management needs to be bitten by the greed bug. Years ago, they were happy collecting royalities as salary and doing a well every year or two just to justify their salary. Times have changed, the situation is different now. Will they be complacent, or will they go out there are try to strike it super rich? I don't know. But that is what you are betting on.

    • so exactly why did you buy this stock?
      was it a value stock at the time you bought it?
      but still you think it is a disaster waiting to happen?
      can you give us details of your transactions
      and your motivation at that time.

    • after Dec 8 these guys were talking the stock down and shorting over 7 dollars when the run up occurred. Now that there are institutional/fund accumulation they are trying to talk it down so they can cover. There are only 1.6 million in the float. Managment owns about one million shares- for good reason. The stock market cap. is less than the cash in the co. Then there is securities, bonds and debentures the co owns in other cos. There is nothing else stated on the actual balance so there are alot of assets here not even stated. then there is Jay, the royalties on production that Isramco gets from 6 other cos including British Gas.The natural gas play is fundamentally a chane now that was absent in years before. Natural gas cos just dont sell under cash value for long. There is NO debt. The stock will go over double figures before long.

    • No, it's you who don't get it.

      I'm saying this as a long term stockholder who has been watching this board for many years.
      And it is YOU who don't get it.

      Just stop and think about what is going on here. I said here, not Isramco, not with their management, not with their assets, but HERE. Got it yet?

      • 2 Replies to racrocker
      • I get it quite clearly, thank you very much.

        A batch of fresh fish have swam into the message board, wide-eyed with excitement about finding an apparently undervalued stock with great potential.

        If they will buy and support the stock, great. But I get nauseus reading their financial analyses, and feel some moral responsibility to straighten them out a little. If that scares off some buyers, so be it. I want the stock to rise too, but on some legitimate merit. I hate to see sucker scammed into buying it. That will not support the stock long term. Only a change in management practice will do that.

      • quit hanging around. Managment is responding to BRG overtures. GAS IS NINE dollars, WHEN you were a holder gas was 2-3. New plants are using natural gas now more and more .Things change sometimes for the better

    • is increasing . earnings are going up nicely, The Ashkelon reserve will be accretive in the near to medium term, Jay is accretive already, and managment owns over a million shares. It is in their intersts to get the value out. The royalty and production arrangents with the British co is worth 10 dollars by itself.

 
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