8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                              --------------------

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                              --------------------

                          Date of Report: June 26, 2001

                                  ISRAMCO, INC.
             (Exact name of registrant as specified in its charter)

Delaware                            0-12500                 13-3145265
(State or Other Jurisdiction        Commission File         IRS Employer
of Incorporation)                   Number)                 Identification No.)

                    11767 Katy Freeway, Houston, Texas 77079
                    (Address of Principal Executive Offices)

                                  713-621-5946
              (Registrant's Telephone Number, including Area Code)

                               ------------------



                    INFORMATION TO BE INCLUDED IN THE REPORT

ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS

      KPMG LLP has served as Isramco, Inc.'s (the "Company") auditors and has
advised the Company on Federal, State and local tax matters. After an evaluation
of services provided by a number of independent accounting firms, the Board of
Directors of the Company has decided to engage Mann Frankfort Stein & Lipp as
the Company's independent accountants.

(a)   Previous independent accountants

      (i) On June 21, 2001, the Company dismissed KPMG LLP as its independent
accountants.

      (ii) The reports of KPMG LLP on the financial statements of the Company
for each of the past two fiscal years contained no adverse opinion or disclaimer
of opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principles.

      (iii) The decision to change independent accountants was approved by the
Board of Directors of the Company.

      (iv) During the Company's two most recent fiscal years and through the
date of this report, the Company has had no disagreements with KPMG LLP on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements if not resolved to the
satisfaction of KPMG LLP would have caused them to make reference thereto in
their report on the financial statements of the Company for such years.

      (v) The Company provided KPMG LLP with a copy of this disclosure and has
requested that KPMG LLP furnish the Company with a letter addressed to the SEC
stating whether or not they agree with the above statements. A copy of such
letter, dated June 26, 2001, is filed as Exhibit 16 to this Form 8-K.

(b)   New independent accountants

      (i) The Company engaged Mann Frankfort Stein & Lipp as its new independent
accountants as of June 21, 2001. During the two most recent fiscal years and
through the date of this report, neither the Company nor anyone on its behalf
has consulted with Mann Frankfort Stein & Lipp regarding either the application
of accounting principles to a specified transaction, either contemplated or
proposed, or the type of audit opinion that might be rendered on the Company's
financial statements.



                                    SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: June 26, 2001                 Isramco, Inc.


                                    By: /s/ Haim Tsuff

                                    Haim Tsuff
                                    Chairman of the Board

Exhibit
Number                             Description

16.1        Letter of KPMG LLP Regarding Change in Certifying Accountant

EX-16.1

Securities and Exchange Commission
Washington, DC 20549

June 26, 2001

Ladies and Gentlemen:

We were previously principal accountants for Isramco, Inc. and, under the date
of March 31, 2001, we reported on the consolidated financial statements of
Isramco, Inc. and subsidiaries ("Isramco") as of and for the years ended
December 31, 2000 and 1999. On June 21, 2001, we were notified that our
appointment as principal accountants was terminated. We have read Isramco's
statements included under Item 4 of its Form 8-K dated June 26, 2001, and we
agree with such statements except that we are not in a position to agree or
disagree with Isramco's statements that after an evaluation of services provided
by a number of independent accounting firms, the Board of Directors of the
Company has decided to engage Mann Frankfort Stein & Lipp as the Company's
independent accountants, that the decision to change independent accountants was
approved by the Board of Directors of the Company, or that during the two most
recent fiscal years and through the date of this report, neither the Company nor
anyone on its behalf has consulted with Mann Frankfort Stein & Lipp regarding
either the application of accounting principles to a specified transaction,
either contemplated or proposed, or the type of audit opinion that might by
rendered on the Company's financial statements.

Very truly yours,


/s/ KPMG LLP