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                                  EXHIBIT 14. 1

                                  ISRAMCO, INC.

                  CODE OF ETHICS FOR SENIOR EXECUTIVE OFFICERS
                                       AND
                            SENIOR FINANCIAL OFFICERS

This Code of Ethics applies to Isramco Inc.'s Chief Executive Officer,
President, Chief Financial Officer and Controller (and others performing similar
senior executive and financial functions at Isramco from time to time in the
future). Isramco expects all of its employees to act in accordance with the
highest standards of professional integrity in all aspects of their business
activities, to comply with all applicable laws, rules and regulations, to deter
wrongdoing and abide by all policies and procedures adopted by Isramco that
govern the conduct of its employees. But because of your leadership positions,
you are setting an example for the rest of our employees and are expected to
comply with this Code of Ethics to foster a culture of integrity and honesty in
all of our dealings.

Accordingly, you agree to:

1. Engage in and promote honest and ethical conduct, including the ethical
handling of actual or apparent conflicts of interest between personal and
professional relationships;

2. Avoid conflicts of interest and disclose to the Audit Committee of the Board
of Directors any material transaction or relationship that reasonably could be
expected to give rise to such a conflict;

3. Take all reasonable measures to protect the confidentiality of non-public
information about Isramco or its subsidiaries obtained or created in connection
with your activities and prevent the unauthorized disclosure of such information
unless required by applicable law or regulation or legal or regulatory process;

4. Take all reasonable measures to achieve responsible use of and control over
Isramco's assets and resources.

5. Promote full, fair, accurate, timely and understandable disclosure in reports
and documents that Isramco or its subsidiaries files with, or submits to, the
Securities and Exchange Commission and other regulators and in other public
communications made by Isramco.

6. Comply with Isramco's policies and procedures as they may be in effect from
time to time.

7. Act in good faith, responsibly, with due care, competence, diligence, and
without knowingly misrepresenting material facts or allowing your better
judgment to be subordinated.

8. Comply with applicable governmental laws, rules and regulations, as well as
the rules and regulations of The Nasdaq Stock Market and any other
self-regulatory organizations of which Isramco is a member; and

9. Prompt report any possible violation of this Code of Ethics to the Audit
Committee of the Board of Directors.

You will make every effort to cooperate with Isramco and its subsidiaries'
internal auditor and independent auditors.

You understand that you will be held accountable for your adherence to this Code
of Ethics. Your failure to observe the terms of this Code of Ethics may result
in disciplinary action, up to and including termination of employment.
Violations of this Code of Ethics may also constitute violations of law and may
result in civil and criminal penalties for you, your supervisors and Isramco.

If you have any questions regarding the best course of action in a particular
situation, you should promptly contact a member of the Audit Committee or
Isramco's outside legal counsel.


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        YOUR PERSONAL COMMITMENT TO THE ISRAMCO INC.'S CODE OF ETHICS FOR
             SENIOR EXECUTIVE OFFICERS AND SENIOR FINANCIAL OFFICERS

I acknowledge that I have received and read the Isramco Inc. Code of Ethics for
Senior Executive Officers and Senior Financial Officers, and understand my
obligations to comply with the Code of Ethics.

I understand that my agreement to comply with the Code of Ethics does not
constitute a contract of my employment.

Please sign here: _________________________ Date: _______________

Please print your name: ____________________________



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