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, 2015 of $75,000 or $0.04 per share, compared to a net loss of $204,000 or $0.10 per share for the three months ended September 30, 2014. Included in 2015 was income for a recovery of bad debt expense of $306,000.

For the nine months ended September 30, 2015 the Company reported net income of $349,000, as compared to a net loss of $343,000 for the similar period in 2014.

For the three months ended September 30, 2015, the Company recorded oil and gas revenues, net of royalty expenses of $232,000 as compared to $410,000 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 $772,000 for the three months ended September 30, 2015 from its retirement property compared to $771,000 for the comparable period in 2014.

For the three months ended September 30, 2015, the Company recorded oil and gas operating expenses of $527,000 as compared to $447,000 for the comparable period of 2014. The increase is principally additional depreciation and depletion recorded in 2015. Included in operating expenses are non-cash depletion, depreciation and amortization of $230,515.

For the three months ended September 30, 2015, operating expenses at the retirement property were $423,000 as compared to $400,000 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 September 30, 2015, corporate general & administrative expenses were $176,000 as compared to $208,000 for the comparable periods 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 third months and nine months ended September 30, 2015 the company recorded an additional recovery of $306,000 and $1,430,000, respectively.

          NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited) (amounts in thousands)

September 30,2015

December 31,2014

  Assets   Current assets Cash and cash equivalents $ 581 $ 300 Accounts receivable from oil and gas sales 120 216 Other current assets   421   182 Total current assets   1,122   698     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 8,585 8,809   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 820 1,476 Other   146   162 Total property and equipment 966 1,638   Other assets (including $125 due from related parties in 2014)   1,247   1,129   Total assets $ 11,920 $ 12,274             NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)  

September 30,2015

December 31,2014

  Liabilities and stockholders' equity   Current liabilities Accounts payable - trade $ 160 $ 673 Accrued expenses 291 229 Current portion of long term debt  

834

    881   Total current liabilities 1,285 1,783   Long-term debt Notes payable less current portion 1,223 1,428 Asset retirement obligation   2,770     2,770   Total liabilities 5,278 5,981   Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,934 shares at September 30, 2015 and December 31, 2014 20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (52,217 )   (52,566 )     6,642     6,293     Total liabilities & equity $ 11,920   $ 12,274                      

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)  

For the Three Monthsended September 30,

For the Nine Monthsended September 30,

2015 2014 2015 2014 Revenue Oil and gas operations, net of royalties $ 232 $ 410 $ 663 $ 1,239 Real estate operations   772     721     2,233     2,174     1,004     1,131     2,896     3,413       Operating expenses Oil and gas operations 527 447 1,437 1,355 Real estate operations 423 400 1,248 1,183 Lease expense 245 240 735 721 Corporate general and administrative   176     208     485     605     1,371     1,295     3,905     3,864   Operating earnings (loss) (367 ) (164 ) (1,009 ) (451 )     Other income (expense) Interest income 6 1 6 3 Interest expense (12 ) (22 ) (54 ) (75 ) Recovery of bad debt expense 306 - 1430 0 Other income (expense), net   (8 )   (19 )   (24 )   180   Other income (expense)   292     (40 )   1,358     108       Net income (loss) applicable to common shares $ (75 ) $ (204 ) $ 349   $ (343 )   Net income (loss) per common share-basic and diluted $ (0.04 ) $ (0.10 ) $ 0.18   $ (0.18 )     Weighted average common and equivalent shares outstanding - basic 1,947 1,947 1,947 1,947  

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