Isramco Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported revenues were $17,038,000, compared to $12,828,000 in the second quarter of 2012, an increase of approximately 32.8%. The increase was primarily due to revenues from company's overriding royalty interest in the Tamar Field located offshore Israel, which resulted in net revenues of $4,641,000, and to an increase in revenues from well service operations, which totaled to $2,993,000 compared to $2,368,000 for the same period in 2012. This increase was offset by a decline in oil and gas revenues from the company's US based operations which decreased by approximately 11% when compared to the same period of 2012. Net income of $3,172,000 or $1.14 per share compared to net income of $2,592,000 or $0.92 per share for the same period in 2012. This increase was primarily due to revenues from overriding royalty in Tamar Field off shore Israel and increase in revenues from well service activities. These increases were partially offset by decreased revenues from crude oil and NGLs sales and net gain on derivative contracts in 2012. Revenues were $17,038,000 against $12,828,000 a year ago. Operating income was $6,464,000 against $2,265,000 a year ago.

For the six months, the company reported revenues of $28,490,000 against $24,292,000 a year ago. Operating income was $7,243,000 against $4,191,000 a year ago. Net cash provided by operating activities was $7,353,000 against $9,377,000 a year ago. Net income of $2,663,000 or $0.96 per share compared to a net income of $4,134,000 or $1.48 per share, for the comparable six month period in 2012. This decrease was primarily due to the fact that Isramco Inc. realized a net gain of $3,650,000 from a sale of its marketable securities of a related party and a net gain of $1,560,000 on derivative contracts in 2012 combined with lower crude oil and NGLs sales revenues in 2013 which, as noted above, were partially offset by revenues from the aforementioned overriding royalty interest in the Tamar Field and revenues from well service activities.