▇▇▇ Resources Corporation
One Houston Center
▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
(▇▇▇) ▇▇▇-▇▇▇▇
February 4, 1997
Isramco, Inc.
Shavit House, ▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇ ▇▇▇▇
Dear ▇▇▇▇▇:
This letter is written to set forth our agreement to transfer 7.9%
Membership Interest and 13.81% After Payout Percentage in ▇▇▇ Petroleum, L.L.C.
("Transferred Interest") to Isramco, Inc. The consideration for said transfer of
interest is the $132,640 additional capital contribution made to ▇▇▇ Petroleum
L.L.C. by Isramco, Inc.
Upon the execution of this letter agreement, ▇▇▇ Resources Corporation
automatically assigns and transfers the Transferred Interest to Isramco, Inc.
▇▇▇ Resources Corporation represents to Isramco, Inc. that it has the requisite
corporate approval and authority to transfer the Transferred Interest and it
further represents and warrants that the Transferred Interest is free and clear
of any liens.
Isramco, Inc. agrees to become a Member of the LLC and to be bound by and
comply with the First Restated Regulations of the LLC, a copy of which Isramco,
Inc. has reviewed. The effective date of this transaction is February 4, 1997.
If the foregoing represents your understanding and agreement, please sign
in the space provided.
Sincerely,
▇▇▇ RESOURCES CORPORATION
By: /S/ ▇▇▇▇▇▇ ▇▇▇▇▇
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Title:
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Accepted and Agreed to this 4 day of February , 1997.
ISRAMCO, INC.
By: /S/ ▇. ▇▇▇▇
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Title:
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