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, 2014. During the three months ended December 31, 2014 the Company reported a net loss of $436,000 or ($0.23) per share, compared to net income of $124,000 or $0.06 per share for the same period ended December 31, 2013.

During the year ended December 31, 2014 the Company reported a net loss of $779,000 or ($0.40) per share, compared to net income of $426,000 or $0.22 per share for the same period ended December 31, 2013.

Revenues: Total revenues were $4.4 million in 2014 and $4.2 million in 2013. Net revenue for our oil and gas operation increased by $200,000 for the first nine months of the year but decreased by $200,000 in the final quarter of the year. The fluctuation was principally due to the price the Company received for its oil in 2014 as compared to 2013. The revenue for the retirement community increased by approximately $200,000 in 2014 compared to 2013 principally due to rate increases.

Operating Expenses: Operating expenses were $5.3 million in 2014 and $5.1 million in 2013.

Oil & gas operating expenses decreased by a net of $214,000 in 2014. Pursuant to the requirements of the “full cost ceiling test” in 2013 the Company recorded a non-cash charge to operations of $200,000 to write down its investment of $250,000 in two small wells in Arkansas.

Real estate operating expenses were $2.6 million in 2014 as compared to $2.5 million in 2013. The principal cause of the increase was non-payroll related expenses at the Company’s retirement facility.

Corporate Expenses were $823,000 in 2014 and $500,000 in 2013. The increase is primarily due to consulting fees paid to assist the Company in its oil and gas operations and to identify new oil and gas opportunities.

Interest Income & Expense: Interest Expense was $91,000 in 2014 as compared to $114,000 in 2013. 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 $197,000 for 2014 as compared to ($189,000) in 2013. The balances in 2014 and 2013 are comprised of numerous events.

Bad Debt Expense (Recovery): In 2011 the company recorded a bad debt expense with respect to a note receivable of $10 million. In 2013 and 2012 the company recovered $1.6 million and $2.1 million, respectively, and recorded income.

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 info@newconceptenergy.com.

    NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATION (amounts in thousands, except per share data)             Year Ended December 31,   2014     2013     2012   Revenue Oil and gas operations, net of royalties $ 1,489 $ 1,477 $ 1,182 Real estate operations   2,874     2,745     2,762     4,363     4,222     3,944     Operating expenses Oil and gas operations 1,853 1,867 1,820 Real estate operations 1,616 1,555 1,465 Lease expense 961 942 924 Corporate general and administrative 823 500 577 Accretion of asset retirement obligation - - 68 Impairment of natural gas and oil properties   -     200     912     5,253     5,064     5,766   Operating earnings (loss) (890 ) (842 ) (1,822 )   Other income (expense) Interest income 5 9 - Interest expense (91 ) (114 ) (208 ) Bad debt expense (recovery) - note receivable - 1,562 2,076 Other income (expense), net   197     (189 )   122   111 1,268 1,990   Earnings (loss) from continuing operations (779 ) 426 168   Net income (loss) applicable to common shares $ (779 ) $ 426   $ 168     Net income (loss) per common share-basic and diluted $ (0.40 ) $ 0.22   $ 0.09     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 2014     2013 Assets   Current assets Cash and cash equivalents $ 300 $ 1,621 Accounts receivable from oil and gas sales 216 195 Other current assets   182   203 Total current assets   698   2,019     Oil and natural gas properties (full cost accounting method) Proved developed and undeveloped oil and gas properties, net of depletion 8,809 9,190   Property and equipment, net of depreciation Land, buildings and equipment - oil and gas operations 1,476 1,442 Other   162   183 Total property and equipment 1,638 1,625   Other assets (including $126,000 and $122,000 in 2014 and 2013 due from related parties)   1,129   474   Total assets $ 12,274 $ 13,308     NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (amounts in thousands, except share amounts)         December 31   2014     2013   Liabilities and stockholders' equity   Current liabilities Accounts payable - trade (including $494 in 2014 due to related parties) $ 673 $ 121 Accrued expenses 229 965 Current portion of long term debt   881     185   Total current liabilities 1,783 1,271   Long-term debt Notes payable less current portion 1,428 2,195 Asset retirement obligation   2,770     2,770   Total liabilities 5,981 6,236   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, 2014 and 2013 20 20 Additional paid-in capital 58,838 58,838 Accumulated deficit   (52,566 )   (51,787 )     6,293     7,072     Total liabilities & stockholders' equity $ 12,274   $ 13,308  

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