8-K

UNITED STATES

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 (Date of earliest event reported): March 2, 2009

IDT CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-16371	22-3415036
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

520 Broad Street Newark, New Jersey	07102
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (973) 438-1000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

 On March 2, 2009, IDT Corporation (the “Registrant”) announced that it had closed the previously announced transaction in which Total E&P Research & Technology USA, LLC acquired a fifty percent interest in the Registrant's American Shale Oil, LLC subsidiary.  In connection therewith, the Registrant issued a press release, a copy of which is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

           (d) Exhibits.

Exhibit No.	Document
99.1	Press Release of the Registrant dated March 3, 2009.

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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.

IDT CORPORATION
By:	/s/ James A. Courter
Name:	James A. Courter
Title:	Chief Executive Officer

Dated: March 3, 2009

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EXHIBIT INDEX

Exhibit Number	Document
99.1	Press Release of the Registrant dated March 3, 2009.

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EX-99.1

Exhibit 99.1

TOTAL AND IDT CLOSE ON OIL SHALE DEAL

NEWARK, NJ - (March 3, 2009): IDT Corporation (NYSE: IDT; IDT.C) today said that it has closed on the previously announced deal under which Total,  the fifth largest international integrated oil and gas company, acquired a fifty percent interest in IDT’s American Shale Oil,  LLC (AMSO) subsidiary.  The prospective deal was initially announced by both companies on January 14, 2009.

“Total’s considerable expertise in unconventional fuels and large scale oil and gas development will be an important asset going forward,” said Claude Pupkin, President of AMSO.  “Together, we will vigorously pursue environmentally responsible approaches to developing this vitally important national resource.  Our efforts could allow oil shale to make an important contribution to satisfy the world’s growing energy demand.”

AMSO is one of three holders of 10-year leases granted by the U.S. Bureau of Land Management to assess, test and demonstrate the potential for commercial shale oil production in western Colorado. Once AMSO has demonstrated that its technology is economically viable and environmentally acceptable, it will have the opportunity to expand its lease to 5,120 acres for commercial development.   The rights covered by the commercial preference lease are estimated to contain multi billion barrels of recoverable shale oil.

Currently, AMSO is undertaking site characterization work on its leasehold in Western Colorado.

About AMSO

American Shale Oil, LLC (AMSO), (www.amso.net) a subsidiary of IDT Corporation (www.idt.net), is one of three companies holding a U.S. Bureau of Land Management oil shale research, development and demonstration lease of government-owned lands in the Piceance Basin in northwest Colorado. 

AMSO’s mission is to develop its proprietary technology into a commercially viable and environmentally sound method of producing commercial quantities of shale oil by using in-situ extraction processes.

About IDT Corporation

IDT Corporation (www.idt.net) is a consumer-focused multinational holding company.  IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words "believe,” "anticipate,” "expect,” "plan,” "intend,” "estimate,” "target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

Investor Relations:

IDT Corporation

Bill Ulrey (973) 438-3838

Media Inquiries:

Synapse PR

Gil Nielsen (610) 704-6622