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): November 15, 2010

NEW CONCEPT ENERGY, INC.

(Exact Name of Registrant as Specified in its Charter)

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

1800 Valley View Lane, Suite 300 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 November 15, 2010, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended September 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 November 15, 2010.

* Furnished herewith.

2

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: November 15, 2010	NEW CONCEPT ENERGY, INC.
	By:	/s/ Gene S. Bertcher
		Gene S. Bertcher, President and Chief
		Financial Officer

-2-

EX-99.1

Exhibit 99.1

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

NEW CONCEPT ENERGY, INC.
REPORTS 3^rd QUARTER 2010 RESULTS

Dallas, Texas (Business Wire) November 15, 2010: New Concept Energy, Inc. (AMEX: GBR), (“the Company” or “NCE”), a Dallas-based oil and gas company, today reported a net gain of $188,000 and a loss of $127,000 for the three and nine months ended September 30, 2010, as compared to a net gain of $49,000 and a loss of $12,000 for the comparable periods of 2009.

For the three and nine months ended September 30, 2010, the Company recorded oil and gas revenues of $349,000 and $950,000 as compared to $285,000 and $966,000 for the comparable periods of 2009. The changes in oil and gas revenue were due to changes in the price of oil and gas in the marketplace.

For the three and nine months ended September 30, 2010, the Company recorded revenues of $763,000 and $2,217,000 for the three and nine months ended September 30, 2010 from its retirement property compared to $685,000 and $2,121,000 for the comparable periods in 2009. The increase was a rise in the occupancy rate of the property from prior periods.

For the three and nine months ended September 30, 2010, the Company recorded oil and gas operating expenses of $320,000 and $992,000 as compared to $329,000 and $1,086,000 for the comparable periods of 2009.

For the three and nine months ended September 30, 2010, operating expenses and lease expense at the retirement property were $330,000 and $1,023,000 as compared to $293,000 and $1,016,000 for the comparable periods in 2009.

For the three and nine months ended September 30, 2010, corporate general and administrative expenses were $124,000 and $447,000 as compared to $169,000 and $666,000 for the comparable periods in 2009. The decrease is primarily due to decreased payroll costs and administrative overhead.

For the three and nine months ended September 30, 2010, interest income was $122,000 and $375,000 as compared to $138,000 and $432,000 for the comparable periods in 2009. The decrease is due to a reduction in the receivable on which interest is computed over the comparable periods.

For the three and nine months ended September 30, 2010 interest expense for the three and nine months ended September 30, 2010, was $31,000 and $93,000 as compared to $31,000 and $92,000 for the comparable periods in 2009.

The Company recorded other expense of $350,000 for the nine months ended September 30, 2010. In 2009, the Company was considering an association with an oil and 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 Nine Months
	ended September 30,						ended September 30,
	2010			2009			2010			2009
Revenue
Oil and gas operations, net of royalties	$	349		$	285		$	950		$	966
Real estate operations		763			685			2,217			2,121
		1,112			970			3,167			3,087
Operating expenses
Oil and gas operations		320			329			992			1,086
Real estate operations		330			293			1,023			1,016
Lease expense		211			242			684			719
Corporate general and administrative		124			169			447			666
Accretion of asset retirement obligation		30			—			90			—
		1,015			1,033			3,236			3,487
Operating earnings (loss)		97			(63	)		(69	)		(400	)
Other income (expense)
Interest income		122			138			375			432
Interest expense		(31	)		(31	)		(93	)		(92	)
Gain on sale of assets, net		—			—			10			—
Other income (expense), net		—			5			(350	)		48
Income/(Expense)		91			112			(58	)		388
Net income (loss) applicable to common shares	$	188		$	49		$	(127	)	$	(12	)
Net income (loss) per common share-basic and diluted	$	0.10		$	0.03		$	(0.07	)	$	(0.01	)
Weighted average common and equivalent shares outstanding — basic		1,947			1,947			1,947			1,947

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

	September 30,		December 31,
	2010		2009
Assets
Current assets
Cash and cash equivalents	$	134	$	155
Accounts receivable from oil and gas sales		244		203
Note and interest receivable — related party		10,217		11.206
Other current assets		88		567
Total current assets		10,683		12,131
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		11,353		11,372
Property and equipment, net of depreciation
Land, buildings and equipment — oil and gas operations		1,316		1,337
Other		152		149
Total property and equipment		1,468		1,486
Other assets		173		132
Total assets	$	23,677	$	25,121

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

	September 30,			December 31,
	2010			2009
Liabilities and stockholders’ equity
Current liabilities
Accounts payable — trade	$	176		$	154
Accrued expenses		1,283			2,711
Total current liabilities		1,459			2,865
Long-term debt
Notes payable		1,281			1,198
Asset retirement obligation		2,540			2,450
Other long-term liabilities		243			326
Total liabilities		5,523			6,839
Stockholders’ equity
Preferred stock, Series B		1			1
Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,935 shares at December 31, 2009 and 2008		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(40,705	)		(40.577	)
		18,154			18,282
Total liabilities & equity	$	23,677		$	25,121