Exhibit 99.1





New Concept Energy Inc.

Gene Bertcher

(800) 400-6407 info@newconceptenergy.com



New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2017 Results

Dallas (April 18, 2018) New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based oil and gas company, today reported Results of Operations for the fourth quarter ended December 31, 2017. During the three months ended December 31, 2017 the Company reported a net loss of $2,851,000 or ($1.39) per share, compared to a net income of $641,000 or $0.32 per share for the same period ended December 31, 2016

For the full year ended December 31, 2017 the Company reported a net loss of $3,246,000 or ($1.59) per share, compared to a net income of $48,000 or $0.02 per share for the same period ended December 31, 2016.

Included in the 2017 loss are non-cash expenses of $3,047,000 including an impairment expense of $2,626,000 to reduce the carrying value of the Company’s oil and gas properties, depreciation, depletion and amortization expense of $396,000 and a $25,000 expense to write off assets from the operations at a retirement center that was discontinued in 2017.

Revenues: Total revenues from the oil & gas operation was $791,000 in 2017 and $764,000 in 2016. Net revenue for our oil and gas operation increased by $27,000 in 2017 as compared to 2016. Included in 2016 revenue is a onetime fee of $30,000. The increase in revenue in 2017 was principally due to an increase in the quantity of oil and gas produced.


Operating Expenses: Operating expenses for continuing oil & gas operations was $1,027,000 in 2017 and $1,181,000 in 2016. This decrease of $154,000 was principally due to a reduction of depreciation and depletion expense of $174,000. The remaining increase was the result of an overall reduction in operating expenses


In 2017 pursuant to the requirements of the “full cost ceiling test” for oil & gas companies we recorded a non-cash charge to operations of $ $2,646,000 to write down its investment in Ohio and West Virginia. This charge to earnings was caused by a revaluation of the Company’s non- producing oil and gas reserves.


Corporate Expenses were $408,000 in 2017 and $352,000 in 2016. The increase is due to an overall increase in operating expenses.


Interest Expense: Interest Expense was $24,000 in 2017 as compared to $38,000 in 2016. The decrease was due to a reduction in the long term debt.


Other Income & (Expense): Other income & (expense) was $28,000 for 2017 as compared to ($110,000) in 2016. In 2017 the most significant item was the receipt of $64,000 for a receivable the Company had previously written off. .The expenses in 2016 were principally the write off assets pertaining to the termination of the lease at the retirement center.


Discontinued Operations: The Company leased and operated Pacific Pointe Retirement Inn (“Pacific Pointe”) a retirement community in King City, Oregon. Our lease provided that should the property be sold the lease maintained by the Company would be terminated. The owners completed the sale of the building on March 30, 2017 and our lease terminated on that date. These financial statements reflect the operations of the retirement community as a discontinued operation. Net income (loss) from discontinued operations was ($5,000) and $4,000 in 2017 and 2016 respectively.





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. For more information, visit the Company’s website at www.newconceptenergy.com.



New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407













(amounts in thousands, except per share data)
    Year Ended December 31,
    2017   2016   2015
Oil and gas operations, net of royalties   $ 791     $ 764     $ 820  
      791       764       820  
Operating expenses                        
Oil & gas operations     1,027       1,181       1,800  
Corporate general and administrative     408       352       605  
Impairment of natural gas and oil properties     2,626       —         2,717  
      4,061       1,533       5,122  
Operating earnings (loss)     (3,270 )     (769 )     (4,302 )
Other income (expense)                        
Interest income     25       23       12  
Interest expense     (24 )     (38 )     (62 )
Gain on prepayment of debt     —         888       —    
Gain on sale of land     —         50       —    
Bad debt expense (recovery) - note receivable     —         —         1,430  
Other income (expense), net     28       (110 )     (32 )
      29       813       1,348  
Earnings (loss) from continuing operations     (3,241 )     44       (2,954 )
Earnings from discontinued operations     (5 )     4       332  
Net income (loss) applicable to common shares   $ (3,246 )   $ 48     $ (2,622 )
Net income (loss) per common share-basic and diluted   $ (1.59 )   $ 0.02     $ (1.35 )
Weighted average common and equivalent shares outstanding - basic     2,037       1,947       1,947  







(amounts in thousands)
    December 31,
    2017   2016
Current assets                
Cash and cash equivalents   $ 419     $ 113  
Accounts receivable from oil and gas sales     67       119  
Current portion note receivable     36       206  
Total current assets     522       438  
Oil and natural gas properties (full cost accounting method)                
Proved developed and undeveloped oil and gas properties, net of depletion     2,721       5,608  
Property and equipment, net of depreciation                
Land, buildings and equipment - oil and gas operations     661       706  
Other     —         25  
Total property and equipment     661       731  
Note Receivable     301       401  
Total assets   $ 4,205     $ 7,178  




(amounts in thousands, except share amounts)
    December 31,
    2017   2016
Liabilities and stockholders' equity                
Current liabilities                
    Accounts payable - trade (including $412 and $160  in 2017 and 2016 due to related parties)   $ 446     $ 238  
    Accrued expenses     29       59  
    Current portion of long term debt     81       96  
Total current liabilities     556       393  
Long-term debt                
    Notes payable less current portion     243       296  
    Asset retirement obligation     2,770       2,770  
Total liabilities     3,569       3,459  
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, 2,036,935 and 1,946,935 shares                
at December 31, 2017 and 2016     21       20  
    Additional paid-in capital     59,000       58,838  
    Accumulated deficit     (58,386 )     (55,140 )
      636       3,719  
Total liabilities & stockholders' equity   $ 4,205     $ 7,178  




The following information was filed by New Concept Energy, Inc. (GBR) on Thursday, April 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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