2008-10-21-2008-02-22-2008-04-02

Acquired WI in producing properties in 40 operated fields in TX, NM, OK, UT, CO, gaining 3.3 MMBO/18 Bcfg net proved, 600 BO/3 MMcfg/d.

Houston-based Isramco Inc. (Nasdaq: ISRL) has completed its acquisition of working interests in producing properties in Texas, New Mexico, Oklahoma, Utah and Colorado from GFB Acquisition I LP, Midland, Texas, and GE Energy Financial Services, a subsidiary of GE, Stamford, Conn., (NYSE: GE) for approximately $102.9 million in cash. The assets include some 40 operated fields in East Texas, the Texas Gulf Coast and the Permian, Anadarko and San Juan basins. Significant fields are Alabama Ferry Field in East Texas, Bagley Field in West Texas and New Mexico, and Esperson Dome Field on the Texas Gulf Coast. Net proved reserves are 3.3 million barrels of oil and 18 billion cubic feet of gas. Net production is 600 barrels of oil and 3.5 million cubic feet of gas. Bank of Nova Scotia provided a $54-million secured revolving credit facility. The effective date is Jan. 1. Isramco holds assets in Louisiana, Texas, Oklahoma and Wyoming.