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): April 1, 2011

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 April 1, 2011, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the year ended December 31, 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 April 1, 2011.

* Furnished herewith.

-1-

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: April 4, 2011	NEW CONCEPT ENERGY, INC.
	By:	/s/ Gene S. Bertcher
		Gene S. Bertcher, President and Chief
		Financial Officer

EX-99.1

Exhibit 99.1

NEWS RELEASE
FOR IMMEDIATE RELEASE	Contact:
	New Concept Energy Inc.
	Investor Relations
	(800) 400-6407
	investor.relations@primeasset.com

New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2010 Results

Dallas (April 1. 2011) — New Concept Energy, Inc. (AMEX:GBR), ( the Company” or “NCE”) a Dallas-based oil and gas company, today reported a net loss for the twelve months ended December 31, 2010 of $11,000 or $(0.01) per share, compared to net loss of $2.2 million or $1.14 per share for the twelve months ended December 31, 2009. Net income for the three months ended December 31 2010 was $116,000 as compared to a net loss of $2.2 million for the three months ended December 31, 2009.

The loss in 2009 is primarily attributed to a non-cash charge to operations of $1.7 million to impairment of the Company’s oil and gas reserves.

Revenues and Operating Expenses: Total revenues for 2010 totaled $4.2 million compared to $4.1 million in 2009. The primary reason for the increase is higher occupancy in our retirement facility. Operating expenses totaled $4.3 million for 2010 compared to $6.8 million for 2009. In 2010, oil and gas operating costs totaled $1.3 million compared to $1.5 million in 2009 due to the cost reductions and efficiency in well production. Also in 2010, the Company recorded accretion of discount related to its asset retirement obligation of $123,000. Real estate operating expenses remained relatively constant. Corporate general and administrative expenses decreased from $1.2 million to $731,000, due primarily to the write-down of receivables of approximately $200,000 and the accrual of $200,000 in interest and penalties on unpaid taxes in 2009 that were one time in nature and did not reoccur in 2010.

Interest Income & Expense: Interest income decreased approximately $77,000 from 2009 to 2010 due to the reduction of the principle during 2010. Interest expense remained relatively unchanged from 2009 to 2010.

Other Income & Expense: Other income expense changed from $68,000 in income for 2009 to a $340,000 expense in 2010. The company had a write-off of $350,000 for an attempted acquisition that did not occur.

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

	December 31,		December 31,
	2010		2009
Assets
Current assets
Cash and cash equivalents	$	59	$	155
Accounts receivable from oil and gas sales		223		203
Other current assets		101		555
Total current assets		383		913
Note and interest receivable — related party		10,361		11,206
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		11,789		11,384
Property and equipment, net of depreciation
Land, buildings and equipment — oil and gas operations		1,308		1,337
Other		156		149
Total property and equipment		1,464		1,486
Other assets		70		132
Total assets	$	24,067	$	25,121

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

	December 31,			December 31,
	2010			2009
Liabilities and stockholders’ equity
Current liabilities
Accounts payable — trade	$	83		$	154
Accrued expenses (including $690 and $798 to related parties in 2010 and 2009)		156			1,903
Total current liabilities		239			2,057
Long-term debt
Notes payable		1,308			1,198
Payable — related parties		953			808
Asset retirement obligation		2,573			2,450
Other long-term liabilities		723			326
Total liabilities		5,796			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, 2010 and 2009		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(40,588	)		(40,577	)
		18,271			18,282
Total liabilities & equity	$	24,067		$	25,121

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATION
(amounts in thousands, except per share data)

	Year Ended December 31,
	2010			2009			2008
Revenue
Oil and gas operations, net of royalties	$	1,248		$	1,206		$	672
Real estate operations		2,965			2,892			2,888
		4,213			4,098			3,560
Operating expenses
Oil and gas operations		1,292			1,498			494
Real estate operations		1,225			1,217			1,158
Lease expense		886			958			954
Corporate general and administrative		731			1,342			1,096
Accretion of asset retirement obligation		123			117			—
Impariment of natural gas and oil properties		—			1,695			—
		4,257			6,827			3,702
Operating earnings (loss)		(44	)		(2,729	)		(142	)
Other income (expense)
Interest income		497			574			785
Interest expense		(124	)		(123	)		(270	)
Gain on sale of assets, net		—			—			16,432
Other income (expense), net		(340	)		68			464
		33			519			17,411
Earnings from continuing operations		(11	)		(2,210	)		17,269
Income tax expense		—			—			—
Provision for income taxes		—			—			(1,774	)
Net income (loss) applicable to common shares	$	(11	)	$	(2,210	)	$	15,495
Net income (loss) per common share-basic and diluted	$	(0.01	)	$	(1.14	)	$	8.92
Weighted average common and equivalent shares outstanding — basic		1,947			1,947			1,737

Contacts
New Concepts Energy, Inc.
Investor Relations, 800-400-6407
investor.relations@primeasset.com