8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act

Date of Report (Date of earliest event reported): August 16, 2010

NEW CONCEPT ENERGY, INC.

(Exact Name of Registrant as Specified in its Charter)

Nevada	000-08187	75-2399477
(State or other	(Commission	(I.R.S. Employer
jurisdiction of incorporation)	File No.)	Identification No.)

1755 Wittington Place, Suite 340
Dallas, Texas	75234
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code 972-407-8400

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 — Financial Information

Item 2.02. Results of Operations and Financial Condition

     On August 16, 2010, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended June 30, 2010. A copy of the announcement is attached as Exhibit “99.1.”

     The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly-update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

     The following exhibit is furnished with this Report:

Exhibit
Designation	Description of Exhibit
99.1*	Press Release dated August 16, 2010.

* Furnished herewith.

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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: August 20, 2010	NEW CONCEPT ENERGY, INC.
	By:	/s/ Gene S. Bertcher
		Gene S. Bertcher, President and Chief Financial Officer

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EX-99.1

Exhibit 99.1

For Immediate Release	Contact: Gene Bertcher
	(972) 407-8400

NEW CONCEPT ENERGY
REPORTS 2^nd QUARTER 2010 RESULTS

Dallas, Texas (Business Wire) August 16, 2010: New Concept Energy, Inc. (AMEX: GBR), (“the Company” or “NCE”), a Dallas-based oil and gas company, today reported a net loss of $275,000 and $315,000 for the three and six months ended June 30, 2010, as compared to a net loss of $84,000 and $61,000 for the comparable periods of 2009.

For the three and six months ended June 30, 2010, the Company recorded oil and gas revenues of $331,000 and $601,000 as compared to $287,000 and $681,000 for the comparable period of 2009. The changes in oil & gas revenue was due changes in the price of oil and gas in the marketplace.

The Company recorded oil and gas operating expenses for the three and six months ended June 30, 2010, of $316,000 and $672,000, as compared to $371,000 and $757,000 for the comparable period of 2009. The decrease was due to a decrease in payroll costs.

For the three and six months ended June 30, 2010, corporate general & administrative expenses were $124,000 and $323,000 as compared to $235,000 and $497,000 for the comparable periods in 2009. The decrease is primarily due to decreased payroll costs.

Interest income for the three and six months ended June 30, 2010, was $114,000 and $253,000 as compared to $113,000 and $294,000 for the comparable periods in 2009. The decrease is primarily due to decreased receivable on which interest is computed over the comparable periods.

The Company recorded an other expense of $350,000 for the six months ended June 30, 2010. In 2009, the Company was considering an association with an oil & gas company in South Texas that was operating under Chapter 11 of the bankruptcy code. During 2009, we invested $350,000 in the South Texas company through both a loan and other costs. In 2010, the bankruptcy court converted the bankruptcy filing to chapter 7 and ordered the liquidation of the South Texas company. It is unlikely our company will recover any of its investment.

NEW CONCEPT ENERGY, INC AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(amounts in thousands, except per share data)

	For the Three Months						For the Six Months
	ended June 30,						ended June 30,
	2010			2009			2010			2009
Revenue
Oil and gas operations, net of royalties	$	331		$	287		$	601		$	681
Real estate operations		751			762			1,454			1,436
		1,082			1,049			2,055			2,117
Operating expenses
Oil and gas operations		316			371			672			757
Real estate operations		368			383			693			723
Lease expense		234			238			473			477
Corporate general and administrative		124			235			323			497
Accretion of asset retirement obligation		30			—			60			—
		1,072			1,227			2,221			2,454
Operating earnings (loss)		10			(178	)		(166	)		(337	)
Other income (expense)
Interest income		114			113			253			294
Interest expense		(31	)		(31	)		(62	)		(61	)
Gain on sale of assets, net		—			—			10			—
Other income (expense), net		(368	)		12			(350	)		43
Expense		(285	)		94			(149	)		276
Net income (loss) applicable to common shares	$	(275	)	$	(84	)	$	(315	)	$	(61	)
Net income (loss) per common share-basic and diluted	$	(0.12	)	$	(0.04	)	$	(0.16	)	$	(0.03	)
Weighted average common and equivalent shares outstanding — basic		1,947			1,947			1,947			1,947

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

	June 30, 2010		December 31, 2009
Assets
Current assets
Cash and cash equivalents	$	102	$	155
Accounts receivable from oil and gas sales		247		203
Note and interest receivable — related party		10,035		11,206
Other current assets		201		567
Total current assets		10,585		12,131
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		11,374		11,372
Property and equipment, net of depreciation
Land, buildings and equipment — oil and gas operations		1,323		1,337
Other		159		149
Total property and equipment		1,482		1,486
Other assets		214		132
Total assets	$	23,655	$	25,121

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS — CONTINUED
(amounts in thousands, except share amounts)

	June 30,			December 31,
	2010			2009
Liabilities and stockholders’ equity
Current liabilities
Accounts payable — trade	$	204		$	154
Accrued expenses (including $661 and $638 to related parties in 2010 and 2009)		1,444			2,711
Total current liabilities		1,648			2,865
Long-term debt
Notes payable		1,253			1,198
Asset retirement obligation		2,510			2,450
Other long-term liabilities		277			326
Total liabilities		5,688			6,839
Stockholders’ equity
Preferred stock, Series B		1			1
Common stock, $.01 par value: authorized, 100,000,000 shares; issued and outstanding, 1,946,939 shares at December 31, 2009 and 2008		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(40,892	)		(40,577	)
		17,967			18.282
Total liabilities & equity	$	23,655		$	25,121