GBR New Concept Energy Inc

New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based oil and gas company, today reported a net loss for the three months ended June 30, 2017 of $135,000 or ($0.07) per share, compared to a net loss of $133,000 or ($0.07) per share for the three months ended June 30, 2016.

The net loss from continuing operations was $124,000 for the three months ended June 30, 2017 compared to a net loss of $171,000 for the similar period in the prior year.

At March 30, 2017 the Company’s operating lease expired at the retirement center it operated in Oregon. The operations of the retirement center are reflected as a discontinued operations.

For the three months ended June 30, 2017, the Company recorded oil and gas revenues, net of royalty expenses of $243,000 as compared to $170,000 for the comparable period of 2016. The increase in oil and gas revenue was principally due to an increase in production in 2017 as compared to 2016.

For the three months ended June 30, 2017, the Company recorded oil and gas operating expenses of $256,000 as compared to $233,000 for the comparable period of 2016. The increase was due to general operating expenses.

For the three months ended June 30, 2017, corporate general & administrative expenses were $122,000 as compared to $101,000 for the comparable period in 2016. The increase was due to overall operating expenses.

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

June 30,2017

December 31,2016

  Assets   Current assets Cash and cash equivalents $ 433 $ 113 Accounts receivable from oil and gas sales 143 119 Other current assets   87   206 Total current assets   663   438     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 5,489 5,608   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 689 706 Other   -   25 Total property and equipment 689 731   Other assets (including $124 due from related parties in 2015)   298   401   Total assets $ 7,139 $ 7,178           NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (amounts in thousands, except share amounts)  

June 30,2017

December 31,2016

  Liabilities and stockholders' equity   Current liabilities

Accounts payable (includes $540 and $160 due to related parties in 2017 & 2016)

$ 555 $ 238 Accrued expenses 26 59 Current portion of long term debt   87     96   Total current liabilities 668 393   Long-term debt Notes payable less current portion 276 296 Asset retirement obligation   2,770     2,770   Total liabilities 3,714 3,459   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, 2017 and December 31, 2016

20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (55,434 )   (55,140 )     3,425     3,719     Total liabilities & equity $ 7,139   $ 7,178                     NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data)  

For the Three Monthsended June 30,

For the Six Monthsended June 30,

2017 2016 2017 2016 Revenue Oil and gas operations, net of royalties $ 243   $ 170   $ 438   $ 389   Total Revenue   243     170     438     389       Operating expenses Oil and gas operations 256 233 512 629 Corporate general and administrative   122     101     222     267   Total Operating Expenses   378     334     734     896   Operating earnings (loss) (135 ) (164 ) (296 ) (507 )     Other income (expense) Interest income 11 5 15 11 Interest expense (6 ) (7 ) (13 ) (18 ) Other income (expense)   6     (5 )   (2 )   (10 )   11     (7 )   0     (17 )   Loss from continuing operations (124 ) (171 ) (296 ) (524 )  

Earnings (loss) from discontinued operations

  (11 )   38     2     95     Net income (loss) applicable to common shares $ (135 ) $ (133 ) $ (294 ) $ (429 )   Net income (loss) per common share-basic and diluted $ (0.07 ) $ (0.07 ) $ (0.15 ) $ (0.22 )     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