We study static electrical conductivity of water-in-oil microemulsions in the single-phase region. Below the percolation threshold, the data can be interpreted in terms of a Auctuating-charge model.Above the percolation threshold, in the lamellar region, the conductivity is consistent with randomly oriented~ater layers separated by surfactant sheets. The loci of the percolation thresholds are measured for diA'erent values of water to surfactant molar ratio and explained in terms of a continuum percolation model.