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 September 30, 2014 of $204,000 or $0.10 per share, compared to a net income of $133,000 or $0.07 per share for the three months ended September 30, 2013. Included in 2013 was income for a recovery of bad debt expense of $410,000.

Operating expenses included non-cash depletion, depreciation and amortization of $165,000 and $256,000 for the three months ended September 30, 2014 and 2013 respectively.

For the three months ended September 30, 2014, the Company recorded oil and gas revenues, net of royalty expenses of $410,000 as compared to $324,000 for the comparable period of 2013. The changes in oil and gas revenues were due to new oil wells that were drilled in late 2013.

The Company recorded revenues of $721,000 for the three months ended September 30, 2014 from its retirement property compared to $694,000 for the comparable period in 2013. The increase was primarily due to rate increases.

For the three months ended September 30, 2014, the Company recorded oil and gas operating expenses of $447,000 as compared to $495,000 for the comparable period of 2013. The decrease was primarily due to a decrease in depletion expense.

For the three months ended September 30, 2014, operating expenses at the retirement property were $640,000 as compared to $607,000 for the comparable period in 2013. The increases in operating expenses were due to an overall increase in non-payroll related expenses.

For the three months ended September 30, 2014, corporate general & administrative expenses were $208,000 as compared to $170,000 for the comparable period in 2013. The increase is primarily due to consulting fees paid to assist the Company in its operations and to identify new oil and gas opportunities.

              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, 2014 2013 2014 2013 Revenue Oil and gas operations, net of royalties $ 410 $ 324 $ 1,239 $ 1,048 Real estate operations   721     694     2,174     2,040     1,131     1,018     3,413     3,088       Operating expenses Oil and gas operations 447 495 1,355 1,444 Real estate operations 400 372 1,183 1,141 Lease expense 240 235 721 707 Corporate general and administrative   208     170     605     513     1,295     1,272     3,864     3,805   Operating earnings (loss) (164 ) (254 ) (451 ) (717 )     Other income (expense) Interest income 1 1 3 9 Interest expense (22 ) (24 ) (75 ) (97 ) Recovery of bad debt expense - 410 - 1,143 Other income (expense), net   (19 )   -     180     (36 ) Other income (expense)   (40 )   387     108     1,019       Net income (loss) applicable to common shares $ (204 ) $ 133   $ (343 ) $ 302     Net income (loss) per common share-basic and diluted $ (0.10 ) $ 0.07   $ (0.18 ) $ 0.16       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, 2014 2013   Assets   Current assets Cash and cash equivalents $ 311 $ 1,621 Accounts receivable from oil and gas sales 232 195 Other current assets   176   203 Total current assets   719   2,019     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 8,913 9,190   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 1,501 1,442 Other   172   183 Total property and equipment 1,673 1,625  

Other assets (including $125 and $161 due from related parties in 2014 and 2013)

1,218 474   Total assets $ 12,523 $ 13,308         NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)   September 30, December 31, 2014 2013   Liabilities and stockholders' equity   Current liabilities Accounts payable - trade $ 362 $ 121 Accrued expenses 321 965 Current portion of long term debt   215     185   Total current liabilities 898 1,271   Long-term debt Notes payable less current portion 2,126 2,195 Asset retirement obligation   2,770     2,770   Total liabilities 5,794 6,236   Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,934 shares at June 30, 2014 and December 31, 2013 20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (52,130 )   (51,787 )     6,729     7,072     Total liabilities & equity $ 12,523   $ 13,308  

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