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 13, 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:

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

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

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

¨ 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 13, 2012, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the third quarter ended September 30, 2012.  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 13, 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: November 14, 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 info@newconceptenergv.com  

New Concept Energy, Inc. Reports Third Quarter 2012 Results

Dallas (November 13, 2012) — New Concept Energy, Inc. (NYSE MKT:GBR), ( the "Company" or "NCE") a Dallas-based oil and gas company, today reported a net income for the three months ended September 30, 2012 of $1.5 million or S0.78 per share, compared to a net loss of $57,000 or ($0.03) per share for the three months ended September 30, 2011.

In the fourth quarter of 2011 the Company had a 510.3 million note receivable and determined that the financial condition of the debtor had deteriorated and there could be no assurance that the amount owed would or could be collected. At that time the company recorded a loss and established a reserve of $10.3 million. In the third quarter of 2012 the Company recorded a 51,700,000 gain from the recovery of the previously reserved note receivable. The Company will continue to attempt to collect the balance of the receivable.

The Company recorded oil and gas revenues of $274,000 as compared to $313,000 for the comparable period of 2011. The changes in oil & gas revenue were principally due to a decrease of approximately $40,000 due to lower prices being received for the sale of our natural gas.

The Company recorded oil and gas operating expenses of $432,000 as compared to $325,000 for the comparable period of 2011. The increase was principally due to an increase in depletion, depreciation and amortization expense which was $168,000 in 2012 as compared to $86,000 in 2011.

For 2012 accretion of asset retirement costs was $0 as compared to $32,000 in 2011. During the third quarter of 2012 the company re-evaluated its method of plugging abandoned wells and determined by doing so in-house it could lower its costs. Based upon the Company's current calculations we have established a sufficient reserve, for accounting purposes, to plug the existing wells when it becomes necessary.

The Company recorded revenues of 5702,000 in 2012 from its retirement property compared to $690,000 for the comparable period in 2011. Occupancy decreased from 91% in 2011 to 85% during the same period in 2012. The decrease was offset by an increase in the rates charged at the facility.

The Company has a long term lease to operate the facility. Operating costs including lease expense was $590,000 in 2012 as compared to $562,000 in 2011. The increase was principally due to an increase in the lease rate the Company pays to operate the facility.

For 2012, interest income was $0 as compared to $121,000 for the comparable period in 2011. In December 2011 the Company became concerned about the collectability of a certain note receivable and determined that the note and any accrued interest be fully reserved. The Company continues to accrue interest but provides a full reserve should it be unable to collect.

For the three months ended September 30, 2012 the Company recorded interest expense of $52,000 as compared to $31,000 for the comparable period in 2011. The increase is due to additional interest on financing obtained in late 2011 to drill wells.

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATION
(unaudited)
(amounts in thousands, except per share data)
	For the Three Months ended September 30,						For the Nine Months ended September 30,
	2012			2011			2012			2011
Revenue
Oil and gas operations, net of royalties	$	274		$	313		$	889		$	873
Real estate operations		702			690			2,039			2,152
		976			1,003			2,928			3,025
Operating expenses
Oil and gas operations		432			325			1,356			1,025
Real estate operations		359			440			1,078			1,151
Lease expense		231			192			693			576
Corporate general and administrative		108			101			402			351
Accretion of asset retirement obligation		-			32			68			96
Impairment of natural gas and oil properties		-			-			912			-
		1,130			1,090			4,509			3,199
Operating earnings (loss)		(154	)		(87	)		(1,581	)		(174	)
Other income (expense)
Interest income		-			121			-			360
Interest expense		(52	)		(31	)		(170	)		(93	)
Other income (expense), net		1,726			(60	)		1,835			13
Income/(Expense)		1,674			30			1,665			280
Net income (loss) applicable to common shares	$	1,520		$	(57	)	$	84		$	106
Net income (loss) per common share-basic and diluted	$	0.78		$	(0.03	)	$	0.04		$	0.05
Weighted average common and equivalent shares outstanding - basic		1,947			1,947			1,947			1,947

NEW CONCEPT ENERGY ENERGY, INC. AND SUBSIDARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
(amounts in thousands)
	September 30,		December 31,
	2012		2011
Assets
Current assets
Cash and cash equivalents	$	235	$	109
Accounts receivable from oil and gas sales		177		167
Other current assets		5		20
Total current assets		417		296
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		9,856		11,141
Property and equipment, net of depreciation
Land, buildings and equipment - oil and gas operations		1,429		1,486
Other		184		150
Total property and equipment		1,613		1,636
Other assets		635		377
Total assets		12,521	$	13,450

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - CONTINUED
(unaudited)
(amounts in thousands, except share amounts)
	September 30,			December 31,
	2012			2011
Liabilities and stockholders' equity
Current liabilities
Accounts payable - trade	$	110		$	422
Accrued expenses		242			417
Total current liabilities		352			839
Long-term debt
Notes payable		2,347			2,249
Payable - related parties		-			691
Asset retirement obligation		2,770			2,702
Other long-term liabilities		490			491
Total liabilities		5,959			6,972
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 March 31, 2012 and December 31, 2011		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(52,297	)		(52,381	)
		6,562			6,478
Total liabilities & equity	$	12,521		$	13,450