On October 25, 2019, According to that certain Agreement and Plan of Merger, dated as of May 20, 2019, by and among, Isramco, Inc. (the Company), Naphtha Israel Petroleum Corporation Ltd., Naphtha Holding Ltd. and a direct wholly owned subsidiary of Naphtha, I.O.C. - Israel Oil Company Ltd. and Naphtha US Oil, Inc., the Company completed its previously-announced merger with Merger Sub, with the Company continuing as the surviving corporation in the Merger and becoming a an indirect wholly owned subsidiary of Naphtha. In accordance with the terms of the Merger Agreement and effective as of the Effective Time, the directors of the Company were replaced with those of Merger Sub. Accordingly, Joseph From, Max Pridgeon, Asaf Yarkoni, Frans Sluiter and Nir Hasson resigned as members of the board of directors of the Company. Haim Tsuff remains on the board of directors of the Company following the Effective Time, and Amir Sanker and Edy Francis will be added as the second and third members of the board of directors.