Isramco News

An Israeli exploration group reported on Sunday it has discovered another large natural gas field off Israel's Mediterranean coast. The group, led by Isramco Negev and Modiin Energy, said that a resource report showed there could be an estimated total of 8.9 trillion cubic feet of natural gas at the Daniel east and west fields. Large natural gas deposits have been discovered in nearby waters in recent years. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

Isramco, Inc., bid for a luxury cruise liner at an auction held on March 19 under order of the United States Bankruptcy Court, Southern District of Florida. March 19, 2004 authorizing the sale to the Company of the cruise liner, on an as is basis and free and clear of all liens and claims, for a purchase price of $8,050,000. The Company is required to consummate the purchase of the vessel by March 29. The vessel, a Bahamas flagged ship, contains 270 passenger cabins spread out over nine decks. The vessel was built in France in 1973 and was purchased in 1999 by Alberta Trading Company, the debtor-in-possession. The vessel was converted into a luxury cruise liner from a passenger/car ferry in 2000 at a cost of approximately $18.5 million and…