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, 2015. During the three months ended December 31, 2015 the Company reported a net loss of $2,971,000 or ($1.52) per share, compared to a net loss of $124,000 or ($0.22) per share for the same period ended December 31, 2014. Included in the loss for 2015 is a $2,717,000 non-cash charge for impairment of the value of the Company’s oil and gas properties.

Revenues: Total revenues were $3.8 million in 2015 and $4.4 million in 2014. Net revenue for our oil and gas operation decreased by $700,000 in 2015 as compared to 2014. The fluctuation was principally due to the price the Company received for its oil in 2015 as compared to 2014. The revenue for the retirement community increased by approximately $100,000 in 2015 compared to 2014 principally due to rate increases.

Operating Expenses: Operating expenses were $7.8 million in 2015 and $5.3 million in 2014.

In 2015 pursuant to the requirements of the “full cost ceiling test” for oil & gas companies, we recorded a non-cash charge to operations of $2,717,000 to write down its investment in Ohio and West Virginia. This charge to earnings was caused by the severe drop in the market price of oil all throughout 2015.

Corporate Expenses were $605,000 in 2015 and $823,000 in 2014. The decrease is primarily due to a reduction in legal fees paid in 2015 as compared to 2014.

Interest Income & Expense: Interest Expense was $62,000 in 2015 as compared to $91,000 in 2014. The decrease was due to a reduction in the long term debt owed to the previous owners of the Company’s oil and gas operation in West Virginia / Ohio.

Other Income & (Expense): Other income & (expense) was ($32,000) for 2015 as compared to $197,000 in 2014. The balances in 2015 and 2014 are comprised of numerous events.

Bad Debt Expense (Recovery): In 2015 the company recorded a bad debt expense recovery of $1,430,000 with respect to a note receivable that was fully reserved in a prior year

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based oil and gas company which owns oil and gas wells and mineral leases in Ohio and in West Virginia. In addition, the Company leases and operates a retirement center in King City, Oregon. For more information, visit the Company’s website at www.newconceptenergy.com.

          NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATION (amounts in thousands, except per share data)   Year Ended December 31, 2015 2014 2013 Revenue Oil and gas operations, net of royalties $ 820 $ 1,489 $ 1,477 Real estate operations   2,997     2,874     2,745     3,817     4,363     4,222     Operating expenses Oil and gas operations 1,800 1,853 1,867 Real estate operations 1,685 1,616 1,555 Lease expense 980 961 942 Corporate general and administrative 605 823 500 Impairment of natural gas and oil properties   2,717     -     200     7,787     5,253     5,064   Operating earnings (loss) (3,970 ) (890 ) (842 )   Other income (expense) Interest income 12 5 9 Interest expense (62 ) (91 ) (114 ) Bad debt expense (recovery) - note receivable 1,430 - 1,562 Other income (expense), net   (32 )   197     (189 ) 1,348 111 1,268   Earnings (loss) from continuing operations (2,622 ) (779 ) 426   Net income (loss) applicable to common shares $ (2,622 ) $ (779 ) $ 426     Net income (loss) per common share-basic and diluted $ (1.35 ) $ (0.40 ) $ 0.22     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, 2015 2014 Assets   Current assets Cash and cash equivalents $ 473 $ 300 Accounts receivable from oil and gas sales 141 216 Other current assets   37   182 Total current assets   651   698     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 5,914 8,809   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 803 1,476 Other   134   162 Total property and equipment 937 1,638   Other assets (including $126,000 and $122,000 in 2015 and 2014 due from related parties)   1,373   1,129   Total assets $ 8,875 $ 12,274         NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (amounts in thousands, except share amounts)   December 31, 2015 2014 Liabilities and stockholders' equity   Current liabilities

Accounts payable - trade (including $168 and $494 in 2015 and 2014 due to related parties)

$ 241 $ 673 Accrued expenses 151 229 Current portion of long term debt   831     881   Total current liabilities 1,223 1,783   Long-term debt Notes payable less current portion 1,211 1,428 Asset retirement obligation   2,770     2,770   Total liabilities 5,204 5,981   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, 2015 and 2014

20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (55,188 )   (52,566 )     3,671     6,293     Total liabilities & stockholders' equity $ 8,875   $ 12,274  

View source version on businesswire.com: http://www.businesswire.com/news/home/20160330006384/en/

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