GBR New Concept Energy Inc

New Concept Energy, Inc. (NYSE MKT: GBR), ( the “Company” or “NCE”) a Dallas-based oil and gas company, today reported net income for the three months ended September 30, 2013 of $133,000 or $0.07 per share, compared to a net income of $1,520,000 or $0.78 per share for the three months ended September 30, 2012.

For the three months ended September 30, 2013, the Company recorded oil and gas revenues, net of royalty expenses of $324,000 as compared to $274,000 for the comparable period of 2012. The changes in oil and gas revenue was due to new oil wells that were drilled in late 2012.

The Company recorded revenues of $694,000 for the three months ended September 30, 2013 from its retirement property compared to $702,000 for the comparable period in 2012.

For the three months ended September 30, 2013, the Company recorded oil and gas operating expenses of $495,000 as compared to $432,000 for the comparable period of 2012. The increase was partially due to an increase in depletion expense of $19,000. The balance of the increases in operating expenses were due to an overall increase in expenses.

For the three months ended September 30, 2013, operating expenses at the retirement property were $372,000 as compared to $359,000 for the comparable period in 2012. The increases in operating expenses were due to an overall increase in non-payroll related expenses.

For the three months ended September 30, 2013, corporate general & administrative expenses were $170,000 as compared to $108,000 for the comparable periods in 2012. The increase is primarily due to legal fees incurred by the company to defend itself against certain lawsuits.

For the three months ended September 30, 2013 the company recorded a bad debt expense recovery of $410,000 with respect to a note receivable of approximately $10 million that was fully reserved in a prior year. For the three months ended September 30, 2012, the Company recurred a bad debt recovery of $1,726,000.

    NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)             For the Three Months For the Nine Months ended September 30, ended September 30,   2013     2012     2013     2012   Revenue Oil and gas operations, net of royalties $ 324 $ 274 $ 1,048 $ 889 Real estate operations   694     702     2,040     2,039     1,018     976     3,088     2,928       Operating expenses Oil and gas operations 495 432 1,444 1,356 Real estate operations 372 359 1,141 1,078 Lease expense 235 231 707 693 Corporate general and administrative 170 108 513 402 Accretion of asset retirement obligation - - - 68 Impairment of natural gas and oil properties   -     -     -     912     1,272     1,130     3,805     4,509   Operating earnings (loss) (254 ) (154 ) (717 ) (1,581 )     Other income (expense) Interest income 1 - 9 - Interest expense (24 ) (52 ) (97 ) (170 ) Recovery of bad debt expense 410 1,726 1,143 1,700 Other income (expense), net   -     -     (36 )   135   Other income (expense)   387     1,674     1,019     1,665       $ 133   $ 1,520   $ 302   $ 84   Net income (loss) applicable to common shares $ 0.07   $ 0.78   $ 0.16   $ 0.04   Net income (loss) per common share-basic and diluted   Weighted average common and equivalent shares outstanding - basic 1,947 1,947 1,947 1,947    

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (unaudited) (amounts in thousands)       September 30,     December 31, 2013 2012   Assets   Current assets Cash and cash equivalents $ 1,276 $ 398 Accounts receivable from oil and gas sales 233 210 Other current assets   7   2 Total current assets   1,516   610     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 9,294 9,717   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 1,461 1,410 Other   193   204 Total property and equipment 1,654 1,614  

Other assets (including $120,750 and $161,300 due from related parties in 2013 and 2012)

590 543   Total assets $ 13,054 $ 12,484     NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)         September 30, December 31, 2013 2012   Liabilities and stockholders' equity   Current liabilities Accounts payable - trade $ 119 $ 38 Accrued expenses 289 173 Current portion of long term debt   53     93   Total current liabilities 461 304   Long-term debt Notes payable less current portion 2,334 2,273 Asset retirement obligation 2,770 2,770 Other long-term liabilities   541     491   Total liabilities 6,106 5,838   Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,935 shares at June 30, 2013 and December 31, 2012 20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (51,911 )   (52,213 )     6,948     6,646     Total liabilities & equity $ 13,054   $ 12,484  

New Concept Energy Inc.Gene Bertcher, 972-407-8400info@newconceptenergy.comorInvestor Relations, 800-400-6407