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 Results of Operations for the fourth quarter ended December 31, 2013. During the three months ended December 31, 2013 the Company reported net income of $124,000 or $0.06 per share, compared to net income of $84,000 or $0.04 per share for the same period ended December 31, 2012.

For the year ended December 31, 2013 the Company had net income of $426,000 or $0.22 per share, compared to net income of $168,000 or $0.09 per share for the year ended December 31, 2012.

Total revenue for 2013 was $1.5 million for our oil & gas segment and $2.7 million for our real estate segment as compared to $1.2 million for oil & gas and $2.7 million for real estate in 2012. Net revenue for our oil and gas operation increased by $300,000 principally due to both the quantity of both oil and gas produced as well as the price in 2013 as compared to 2012.

Operating expenses for the oil and gas operations were $2.1 million and $2.8 million for the years of 2013 and 2012 respectively. Included in operating expenses were non-cash expenses for depreciation, depletion and amortization of $654,000 in 2013 and $690,000 in 2012.

In 2013 the Company recorded a $200,000 non-cash charge to operations to write down its investment in two wells in Arkansas. In 2012 the Company recorded a similar non-cash charge to operations of $912,000 for its operations in West Virginia / Ohio. In 2013 the value of our investment in West Virginia / Ohio calculated in accordance with the “full cost ceiling test” was recovered; however, the accounting rules prohibit the recovery of a previously taken write-down.

Operating expense for the real estate segment were $2.5 million in 2013 and $2.4 million in 2012.

In the fourth quarter of 2011 the Company had a $10.3 million note receivable and determined that the financial condition of the debtor had deteriorated and there could be no assurance that the amount owed would or could be collected. At that time the company recorded a loss and established a reserve of $10.3 million. In 2013 and 2012 the Company recorded a gain from the partial recovery of the previously reserved note receivable of $1.6 million and $2.1 million respectively. The Company will continue to attempt to collect the balance of the receivable.

  NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATION (amounts in thousands, except per share data)             Year Ended December 31, 2013 2012 2011 Revenue Oil and gas operations, net of royalties $ 1,477 $ 1,182 $ 1,020 Real estate operations   2,745     2,762     2,881     4,222     3,944     3,901     Operating expenses Oil and gas operations 1,867 1,820 1,430 Real estate operations 1,555 1,465 1,290 Lease expense 942 924 906 Corporate general and administrative 500 577 579 Accretion of asset retirement obligation - 68 129

Impairment of natural gas and oil properties

  200     912     1,428     5,064     5,766     5,762   Operating earnings (loss) (842 ) (1,822 ) (1,861 )   Other income (expense) Interest income 9 - 360 Interest expense (114 ) (208 ) (131 ) Bad debt expense (recovery) - note receivable 1,562 2,076 (10,006 ) Other income (expense), net   (189 )   122     (155 ) 1,268 1,990 (9,932 )   Earnings from continuing operations 426 168 (11,793 )   Net income (loss) applicable to common shares $ 426   $ 168   $ (11,793 )   Net income (loss) per common share-basic and diluted $ 0.22   $ 0.09   $ (6.06 )   Weighted average common and equivalent shares outstanding - basic 1,947 1,947 1,947     NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (amounts in thousands)       December 31 2013     2012 Assets   Current assets Cash and cash equivalents $ 1,621 $ 398 Accounts receivable from oil and gas sales 195 210 Other current assets   203   2 Total current assets   2,019   610     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 9,190 9,717   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 1,442 1,410 Other   183   204 Total property and equipment 1,625 1,614   Other assets (including $122,000 and $161,000 in 2013 and 2012 due from related parties)   474   543   Total assets $ 13,308 $ 12,484     NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (amounts in thousands, except share amounts)         December 31 2013 2012 Liabilities and stockholders' equity   Current liabilities Accounts payable - trade $ 121 $ 38 Accrued expenses 965 173 Current portion of long term debt   185     93   Total current liabilities 1,271 304   Long-term debt Notes payable less current portion 2,195 2,273 Payable - related parties - - Asset retirement obligation 2,770 2,770 Other long-term liabilities   -     491   Total liabilities 6,236 5,838   Stockholders' equity Series B convertible preferred stock, $10 par value, liquidation value of $100 authorized 100 shares, issued and outstanding one share 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,935 shares

at December 31, 2013 and 2012

20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (51,787 )   (52,213 )     7,072     6,646     Total liabilities & equity $ 13,308   $ 12,484  

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