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):      March 30, 2012

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.)
1603 LBJ Freeway, 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 March 30, 2012, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the year ended December 31, 2011.  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 March 30, 2012.
_____________________ *Furnished herewith.

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 2, 2012	NEW CONCEPT ENERGY, INC.
	By:     /s/ Gene S. Bertcher
	Gene S. Bertcher, President and Chief
	Financial Officer

EX-99.1

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

New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2011 Results

Dallas (March 30, 2012) – 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, 2011 of $11.8 million  or $(6.06) per share, compared to net loss of $11,000 or $(0.01) per share for the twelve months ended December 31, 2010. Net loss for the three months ended December 31, 2011 was $11.9 million as compared to a net income of $125,000 for the three months ended December 31, 2010.

The most significant components of the loss recorded in 2011 were bad debt expense of $10 million and impairment expense of $1.4 million for the Company’s oil and gas properties

Between 2006 and the early part of 2009 the Company loaned a related real estate management company its surplus cash for interest rates ranging  from 2% over the prime rate to 8% interest. At December 31, 2009 these loans totaled $11 million. Since 2009 the Company has been paid $857,000 in interest and a principal pay down of $1 million; however, in the fourth quarter of 2011 the Company determined that the financial condition of the obligator had deteriorated and there could be no assurance that the amount owed would or could be collected. The company has recorded a reserve of $10 million and written the receivable to zero.

Due to the decline of the prices for natural gas during 2011 the Company has taken a non-cash charge to operations of $1.4 million as an impairment of the Company’s oil and gas reserves.

In December 2006, Carlton Energy Group, LLC (“Carlton”) instituted litigation against an individual, Eurenergy Resources Corporation (“Eurenergy”) and several other entities including New Concept Energy, Inc.,  alleging tortuous conduct, breach of contract and other matters and as to the Company that it was the “alter ego” of Eurenergy. The Carlton claims were based upon an alleged tortuous interference with a contract related to the right to explore a coal bed methane concession in Bulgaria which had never (and has not to this day) produced a drop of hydrocarbons. At no time during the pendency of this project or since did the Company or any of its officers or directors have any interest whatsoever in the success or failure of the so-called “Bulgaria Project”. However, in the litigation, Carlton alleged that the Company was the “alter ego” of certain of the other Defendants including Eurenergy. Following a jury trial in 2009, the Trial Court granted a judgment for the Company that it was not the “alter ego” of any of the other parties and thereby would not incur any damages.

Cross appeals were filed and on February 14, 2012 the Court of Appeals issued an opinion which, among other things, reinstated the jury award of damages jointly and severely against the defendants including Eurenergy in the amount of $66.5 million and affirmed the award of exemplary against Eurenergy of $8.5 million. The Court of Appeals also overturned the Trial Court’s ruling favorable to the Company rendering a judgment for that amount plus exemplary damages against the Company as the “alter ego” of Eurenergy.

The Company plans to file a Petition for Review of the Court of Appeals Decision with the Supreme Court of the State of Texas. The Company vigorously denies that it is the “alter ego” of any other entity. There are questions regarding the underlying liability of Eurenergy and if Eurenergy is successful in its petition for review or, even if unsuccessful if the Company is successful on its positions described above, the Trial Court’s judgment could be reinstated and the Company would have no liability on this claim.

NEW CONCEPT ENERGY ENERGY, INC. AND SUBSIDARIES
CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
	December 31
	2011		2010
Assets
Current assets
Cash and cash equivalents	$	109	$	59
Accounts receivable from oil and gas sales		167		223
Other current assets		20		101
Total current assets		296		383
Note and interest receivable – related party		-		10,361
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		11,141		11,789
Property and equipment, net of depreciation
Land, buildings and equipment - oil and gas operations		1,486		1,308
Other		150		156
Total property and equipment		1,636		1,464
Other assets		377		70
Total assets	$	13,450	$	24,067

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - CONTINUED
(amounts in thousands, except share amounts)
	December 31
	2011			2010
Liabilities and stockholders' equity
Current liabilities
Accounts payable - trade	$	422		$	83
Accrued expenses		417			156
Total current liabilities		839			239
Long-term debt
Notes payable		2,249			1,308
Payable - related parties		691			953
Asset retirement obligation		2,702			2,573
Other long-term liabilities		491			723
Total liabilities		6,972			5,796
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, 2011 and 2010		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(52,381	)		(40,588	)
		6,478			18,271
Total liabilities & equity	$	13,450		$	24,067

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATION
(amounts in thousands, except per share data)
	Year Ended December 31,
	2011			2010			2009
Revenue
Oil and gas operations, net of royalties	$	1,020		$	1,288		$	1,246
Real estate operations		2,881			2,925			2,852
		3,901			4,213			4,098
Operating expenses
Oil and gas operations		1,430			1,292			1,498
Real estate operations		1,290			1,225			1,217
Lease expense		866			886			958
Corporate general and administrative		619			731			1,342
Accretion of asset retirement obligation		129			123			117
Impariment of natural gas and oil properties		1,428			-			1,695
		5,762			4,257			6,827
Operating earnings (loss)		(1,861	)		(44	)		(2,729	)
Other income (expense)
Interest income		360			497			574
Interest expense		(131	)		(124	)		(123	)
Bad debt expense - note receivable		(10,006	)		-			-
Other income (expense), net		(155	)		(340	)		68
		(9,932	)		33			519
Earnings from continuing operations		(11,793	)		(11	)		(2,210	)
Net income (loss) applicable to common shares	$	(11,793	)	$	(11	)	$	(2,210	)
Net income (loss) per common share-basic and diluted	$	(6.06	)	$	(0.01	)	$	(1.14	)
Weighted average common and equivalent shares outstanding - basic		1,947			1,947			1,947