EXHIBIT “99.1”

NEWS RELEASE   FOR IMMEDIATE RELEASE   Contact:   New Concept Energy Inc. Investor Relations Gene Bertcher, (800) 400-6407 info@newconceptenergy.com      

New Concept Energy, Inc. Reports Second Quarter 2022 Results

Dallas (August 10, 2022) – New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the second quarter ended June 30, 2022.

During the three months ended June 30, 2022, the Company reported net income of $138,000 compared to net income of $49,000 for the three months ended June 30, 2021.

For the three months ended June 30, 2022 the Company had revenue of $47,000 including $26,000 for rental income and $21,000 for management fees as compared to rental income of $26,000 for the comparable period in 2021.

For the three months ended June 30, 2022, corporate general & administrative expenses were $80,000 as compared to $111,000 for the comparable periods in 2021. The decrease was due to an overall reduction of administrative expenses.

Included in other income for the three months ended June 30, 2022 is $62,000 which represents the collection of an investment that had previously been fully reserved. In addition during the three months ended June 30, 2022 the company sold equipment and recorded a gain of $68,000.

New Concept Energy, Inc. is a Dallas-based company which owns real estate West Virginia and provides management services for a third party oil and gas company. For more information, visit the Company’s website at www.newconceptenergy.com.

Contact: New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

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NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(amounts in thousands)

	June 30, 2022		December 31, 2021
		(Unaudited)		(Audited)
Assets
Current assets
Cash and cash equivalents	$	372	$	252
Note receivable -  related party		3,542		3,560
Other current assets		43		-
Total current assets	$	3,957	$	3,812
Property and equipment, net of depreciation
Land, buildings and equipment		637		643
Total assets	$	4,594	$	4,455

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NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS - CONTINUED

(unaudited)

(dollars in thousands, except par value amount)

	June 30, 2022			December 31, 2021
Liabilities and stockholders' equity
Current liabilities
Accounts payable	$	19		$	28
Accrued expenses		37			32
Total current liabilities		56			60
Stockholders' equity
Preferred stock, Series B		1			1
Common stock, $.01 par value; authorized, 100,000,000
shares; issued and outstanding,  5,131,934 shares
at June 30, 2022 and December 31, 2021		51			51
Additional paid-in capital		63,579			63,579
Accumulated deficit		(59,093	)		(59,236	)
Total shareholder equity		4,538			4,395
Total liabilities & equity	$	4,594		$	4,455

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NEW CONCEPT ENERGY, INC AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

(unaudited)

(amounts in thousands, except per share data)

	For the Three Months ended June 30,						For the Six Months ended June 30,
	2022			2021			2022			2021
Revenue
Rent	$	26		$	26		$	51		$	52
Management Fee		21			-			41		$	-
Total Revenues		47			26			92			52
Operating expenses
Operating Expenses		13			20			25			38
Corporate general and administrative		80			111			160			185
Total Operating Expenses		93			131			185			223
Operating earnings (loss)		(46	)		(105	)		(93	)		(223	)
Other income (expense)
Interest income		54			56			106			112
Interest expense		-			(2	)		-			(4	)
Other income, net		130			100			130			191
		184			154			236			299
Net income (loss) applicable to common shares		138			49			143			128
Net income per common share-basic and diluted	$	0.02		$	0.01		$	0.03		$	0.02
Weighted average common and equivalent shares outstanding - basic		5,132			5,132			5,132			5,132

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