GBR New Concept Energy Inc

New Concept Energy, Inc. (NYSE American: GBR), ( the “Company” or “NCE”) a Dallas-based oil and gas company, today reported a net loss for the three months ended September 30, 2017 of $101,000 or ($0.05) per share, compared to a net loss of $164,000 or ($0.08) per share for the three months ended September 30, 2016.

At March 30, 2017 the Company’s operating lease expired at the retirement center it operated in Oregon. The operations of the retirement center are reflected as a discontinued operations.

The net loss from continuing operations was $90,000 for the three months ended September 30, 2017 compared to a net loss of $170,000 for the similar period in the prior year.

For the nine months ended September 30, 2017 the Company reported a net loss of $397,000 or ($0.20) per share as compared to a net loss of $593,000 or ($0.30) per share for the similar period in 2016.

For the three months ended September 30, 2017, the Company recorded oil and gas revenues, net of royalty expenses of $194,000 as compared to $190,000 for the comparable period of 2016.

For the three months ended September 30, 2017, the Company recorded oil and gas operating expenses of $254,000 as compared to $295,000 for the comparable period of 2016. The decrease was principally due to a reduction of depletion expenses as well as general operating expenses.

For the three months ended September 30, 2017, corporate general & administrative expenses were $95,000 as compared to $52,000 for the comparable periods in 2016. The increase was due to overall operating expenses during the quarter.

          NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited) (amounts in thousands)  

September 30,2017

December 31,2016

  Assets   Current assets Cash and cash equivalents $ 427 $ 113 Accounts receivable from oil and gas sales 129 119 Other current assets   61   206 Total current assets   617   438     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 5,428 5,608   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 675 706 Other   -   25 Total property and equipment 675 731   Other assets   308   401   Total assets $ 7,028 $ 7,178           NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)  

September 30,2017

December 31,2016

  Liabilities and stockholders' equity   Current liabilities Accounts payable - trade (including $513 and $160 at 2017 and 2016 due to related parties) $ 525 $ 238 Accrued expenses 67 59 Current portion of long term debt   85     96   Total current liabilities 677 393   Long-term debt Notes payable less current portion 259 296 Asset retirement obligation   2,770     2,770   Total liabilities 3,706 3,459   Stockholders' equity Preferred stock, Series B 1 1

Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,934 shares at September 30, 2017 and December 31, 2016

20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (55,537 )   (55,140 )   3,322     3,719     Total liabilities & equity $ 7,028   $ 7,178                     NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)  

For the Three Monthsended September 30,

For the Nine Monthsended September 30,

2017 2016 2017 2016 Revenue Oil and gas operations, net of royalties $ 194   $ 190   $ 632   $ 579   Total Revenue   194     190     632     579       Operating expenses Oil and gas operations 254 295 766 924 Corporate general and administrative   95     52     317     319  

Total Operating Expenses

  349     347     1,083     1,243   Operating earnings (loss) (155 ) (157 ) (451 ) (664 )     Other income (expense) Interest income 5 6 20 17 Interest expense (6 ) (8 ) (19 ) (26 ) Other income (expense), net   66     (11 )   51     (21 ) Other income (expense)   65     (13 )   52     (30 )   Loss from continuing operations $ (90 ) $ (170 ) $ (399 ) $ (694 )   Earnings (loss) from discontinued operations   (11 )   6     2     101    

Net loss applicable to common shares

  (101 )   (164 )   (397 )   (593 )     Net income (loss) per common share-basic and diluted $ (0.05 ) $ (0.08 ) $ (0.20 ) $ (0.30 )     Weighted average common and equivalent shares outstanding 1,947 1,947 1,947 1,947

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New Concept Energy, Inc.Gene Bertcher, 800-400-6407info@newconceptenergy.com