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:
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the
extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section
13(a) of the Exchange Act.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf
by the undersigned, hereunto duly authorized.
Dated: May 14,
2020
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NEW CONCEPT ENERGY, INC.
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By:
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/s/ Gene S. Bertcher
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Gene
S. Bertcher
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President and
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Chief Financial Officer
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Exhibit "99.1"
NEWS RELEASE
FOR IMMEDIATE RELEASE
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Contact:
New Concept Energy Inc.
Gene Bertcher (800) 400-6407
info@newconceptenergy.com
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New Concept
Energy, Inc. Reports First Quarter 2020 Results
DALLAS--(May
13, 2020)--New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based oil
and gas company, today reported Results of Operations for the first quarter ended March 31, 2020.
During
the three months ended March 31, 2020, the Company reported a net loss applicable to common shares for the three months ended
March 31, 2020 of ($97,000) or $0.00 per share, compared to net income of $126,000 or ($0.02) per share for the three months ended
March 31, 2019.
For
the three months ended March 31, 2020, the Company recorded oil and gas revenues of $125,000 as compared to $180,000 for the comparable
period of 2019. The reduction was principally due to the dollar amount per barrel for oil and MCF for gas the Company received
from the sale of natural gas.
For
the three months ended March 31, 2020, the Company recorded oil and gas operating expenses of $178,000 as compared to $179,000
for the comparable period of 2019.
For
the three months ended March 31, 2020, corporate general & administrative expenses were $104,000 as compared to $88,000 for
the comparable periods in 2019. The increase was due, for the most part, to consulting fees paid by the Company regarding oil
and gas matters.
For
the three months ended March 31, 2019 the Company recorded a one-time gain of $153,000 which was reflected as other income.
About
New Concept Energy, Inc.
New
Concept Energy, Inc. is a Dallas-based oil and gas company which owns oil and gas wells and mineral leases in Ohio and in West
Virginia. For more information, visit the Company’s website at www.newconceptenergy.com.