Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following
provisions:
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf
by the undersigned, hereunto duly authorized.
Dated: May 16,
2019
|
|
|
NEW CONCEPT ENERGY, INC.
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Gene S. Bertcher
|
|
|
|
Gene
S. Bertcher
|
|
|
|
Executive Vice President and
|
|
|
|
Chief Financial Officer
|
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
|
Contact:
New Concept Energy Inc.
Gene Bertcher (800) 400-6407
info@newconceptenergy.com
|
New Concept Energy, Inc. Reports First Quarter 2019 Results
Dallas (May 15, 2019) – New Concept Energy, Inc. (NYSE
American: GBR), (the “Company” or “NCE”) a Dallas-based oil and gas company, today reported a net income
applicable to common shares for the three months ended March 31, 2019 of $126,000 or $0.02 per share, compared to net loss of $134,000
or ($0.07) per share for the three months ended March 31, 2018. During the last nine months of 2018 the Company issued 3,094,000
shares of common stock increasing the number of shares outstanding while raising $4,609,000 in cash which the Company anticipates
will be used for future drilling expenses, acquisitions and working capital.
For the three months ended March 31, 2019, the Company recorded
oil and gas revenues of $180,000 as compared to $204,000 for the comparable period of 2018. The reduction was principally
due to the dollar amount per MCF the Company received from the sale of natural gas.
For the three months ended March 31, 2019, the Company recorded
oil and gas operating expenses of $179,000 as compared to $275,000 for the comparable period of 2018. The decrease was due to a
decrease in depletion and depreciation, consulting fees and general operating expenses.
For the three months ended March 31, 2019, corporate general
& administrative expenses were $88,000 as compared to $74,000 for the comparable period in 2018. The increase was
due, for the most part, to consulting fees paid by the Company regarding oil and gas matters.
Contact: New Concept Energy, Inc.
Gene
Bertcher, (800) 400-6407
info@newconceptenergy.com