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 loss for the three months ended March 31, 2014 of $40,000 or $0.02 per share, compared to a net income of $31,000 or $(0.02) per share for the three months ended March 31, 2013.

For the three months ended March 31, 2014, the Company recorded oil and gas revenues of $344,000 as compared to $340,000 for the comparable period of 2013.

The Company recorded revenues of $725,000 for the three months ended March 31, 2014 from its retirement property compared to $680,000 for the comparable period in 2013. The increase was due principally due to rate increases.

For the three months ended March 31, 2014, the Company recorded oil and gas operating expenses of $483,000 as compared to $456,000 for the comparable period of 2013. Included in operating expenses are $166,000 and $207,000 for the three months ended March 31, 2014 and 2013 respectively of depreciation and depletion which are non-cash expenses. In 2014 operating expenses were $68,000 higher than in 2013. The increases were due to general operating expenses. The increase in operating expenses was partially offset by lower depreciation, depletion and amortization cost of $41,000.

For the three months ended March 31, 2014, operating expenses including lease expense at the retirement property were $636,000, as compared to $622,000 for the comparable period in 2013.

For the three months ended March 31, 2014, corporate general & administrative expenses were $192,000 as compared to $173,000 for the comparable periods in 2013. The increase is primarily due to $18,000 of consulting fees paid to assist the Company reviewing its oil and gas operations and identifying new oil & gas.

For the three months ended March 31, 2014 other income was $232,000 which represents a cash payment the Company received from the bankruptcy estate of the prior owners of the oil & gas operations which the Company acquired in 2008.

  NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)     For the Three Months ended March 31,   2014     2013   Revenue Oil and gas operations, net of royalties $ 344 $ 340 Real estate operations   725     680     1,069     1,020       Operating expenses Oil and gas operations 483 456 Real estate operations 396 386 Real Estate - lease expense 240 236 Corporate general and administrative   192     173     1,311     1,251   Operating earnings (loss) (242 ) (231 )   Other income (expense) Interest income 1 6 Interest expense (31 ) (49 ) Recovery of bad debt expense - 339 Other income (expense), net   232     (34 ) Expense   202     262       Net income (loss) applicable to common shares $ (40 ) $ 31     Net income (loss) per common share-basic and diluted $ (0.02 ) $ 0.02     Weighted average common and equivalent shares outstanding - basic 1,947 1,947    

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (unaudited) (amounts in thousands)

March 31,2014

December 31,2013

  Assets   Current assets Cash and cash equivalents $ 443 $ 1,621 Accounts receivable from oil and gas sales 168 195 Other current assets   201   203 Total current assets   812   2,019     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 9,025 9,190   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 1,422 1,442 Other   188   183 Total property and equipment 1,610 1,625  

Other assets (including $123,000 and $122,000 due from related partiesin 2014 and 2013)

1,145 474   Total assets $ 12,592 $ 13,308     NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)  

March 31,2014

December 31,2013

  Liabilities and stockholders' equity   Current liabilities Accounts payable - trade $ 303 $ 121 Accrued expenses 175 965 Current portion of long term debt   185     185   Total current liabilities 663 1,271   Long-term debt Notes payable less current portion 2,127 2,195 Asset retirement obligation   2,770     2,770   Total liabilities 5,560 6,236   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 March 31, 2014 and December 31, 2013 20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (51,827 )   (51,787 )     7,032     7,072     Total liabilities & equity $ 12,592   $ 13,308  

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