ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 24, 2008, Isramco, Inc. (the "Company") received from The Nasdaq Stock Market, Inc. ("Nasdaq") a Nasdaq Staff Deficiency Letter which provides that that as a result of the resignation of Frans Sluiter as a director of the Company, effective as of September 10, 2008, the Company was no longer in compliance with Nasdaq Marketplace Rules 4350 because it no longer has a majority of independent directors nor does it have at least three members on the Audit Committee, respectively. The Company previously disclosed Mr. Sluiter's resignation in a current report on Form 8-K.

In addition, the letter states that, consistent with Nasdaq Marketplace Rules 4350(c)(1) and 4350(d)(4), the Company will be provided with a cure period until the earlier of its next annual stockholders' meeting or September 10, 2009, or, if the next annual stockholders' meeting is held before March 9, 2009, then the Company's cure period March 9, 2009. The letter also states that in the event the Company does not regain compliance within this period, the Company will receive written notice that its securities will be delisted. The Company intends to identify a suitable candidate to fill the vacancy on its Board of Directors and Audit Committee so that the Company can regain compliance under Nasdaq Marketplace Rules 4350 within the prescribed cure period.

In accordance with Nasdaq Marketplace Rule 4803(a), on September 30, 2008, the Company issued a press release announcing its receipt of the letter from Nasdaq. A copy of the press release is included as Exhibit 99.1 hereto and is incorporated herein by reference.

(d) Exhibits.

99.1 Press Release of Isramco, Inc. dated September 30, 2008.

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