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 June 30, 2015 of $110,000 or $0.06 per share, compared to a net loss of $99,000 or $0.05 per share for the three months ended June 30, 2014. Included in 2015 was income for a recovery of bad debt expense of $384,000.

For the six months ended June 30, 2015 the Company reported net income of $424,000 or $0.22 per share as compared to a net loss of $139,000 or $0.07 per share for the three months ended June 30, 2014.

Operating expenses included non-cash depletion, depreciation and amortization of $333,000 and $338,000 in 2015 and 2014 respectively.

For the three months ended June 30, 2015, the Company recorded oil and gas revenues, net of royalty expenses of $259,000 as compared to $485,000 for the comparable period of 2014. The decline in oil and gas revenue was principally due to the price the Company was receiving for its oil sales in 2015 as compared to 2014

The Company recorded revenues of $744,000 for the three months ended June 30, 2015 from its retirement property compared to $728,000 for the comparable period in 2014. The increase was primarily due to rate increases.

For the three months ended June 30, 2015, the Company recorded oil and gas operating expenses of $440,000 as compared to $425,000 for the comparable period of 2014.

For the three months ended June 30, 2015, operating expenses at the retirement property were $628,000 as compared to $619,000 for the comparable period in 2014. The increases in operating expenses were due to an overall increase in non-payroll related expenses.

For the three months ended June 30, 2015, corporate general & administrative expenses were $155,000 as compared to $205,000 for the comparable period in 2014. The decrease is primarily due to a reduction in legal costs.

In 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. For the first and second quarters ended June 30, 2015 the company recorded an additional recovery of $738,000 and $386,000 respectively.

              NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)   For the Three Months For the Six Months ended June 30, ended June 30, 2015 2014 2015 2014 Revenue Oil and gas operations, net of royalties $ 259 $ 485 $ 431 $ 829 Real estate operations   744     728     1,461     1,453     1,003     1,213     1,892     2,282       Operating expenses Oil and gas operations 440 425 910 908 Real estate operations 415 387 825 783 Real Estate - Lease Expense 245 241 490 481 Corporate general and administrative   155     205     309     397     1,255     1,258     2,534     2,569   Operating earnings (loss) (252 ) (45 ) (642 ) (287 )     Other income (expense) Interest income - 1 - 2 Interest expense (16 ) (22 ) (42 ) (53 ) Recovery of bad debt expense 386 - 1,124 - Other income (expense)   (8 )   (33 )   (16 )   199     362     (54 )   1066     148       Net income (loss) applicable to common shares $ 110   $ (99 ) $ 424   $ (139 )   Net income (loss) per common share-basic and diluted $ 0.06   $ (0.05 ) $ 0.22   $ (0.07 )     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)   June 30, December 31, 2015 2014   Assets   Current assets Cash and cash equivalents $ 437 $ 300 Accounts receivable from oil and gas sales 137 216 Other current assets   362   182 Total current assets   936   698     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 8,776 8,809   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 845 1,476 Other   152   162 Total property and equipment 997 1,638   Other assets (including $124 due from related parties in 2014)   1,275   1,129   Total assets $ 11,984 $ 12,274           NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)  

June 30,2015

December 31,2014

  Liabilities and stockholders' equity   Current liabilities Accounts payable (includes $494 due to related parties in 2014) $ 165 $ 673 Accrued expenses 252 229 Current portion of long term debt   775     881   Total current liabilities 1,192 1,783   Long-term debt Notes payable less current portion 1,305 1,428 Asset retirement obligation   2,770     2,770   Total liabilities 5,267 5,981   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, 2015 and December 31, 2014

20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (52,142 )   (52,566 )     6,717     6,293     Total liabilities & equity $ 11,984   $ 12,274  

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