New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2016 Results

DALLAS--(BUSINESS WIRE)--New Concept Energy, Inc. (NYSE MKT: GBR), (the “Company” or “NCE”), a Dallas-based oil and gas company, today reported Results of Operations for the fourth quarter ended December 31, 2016. During the three months ended December 31, 2016 the Company reported net income of $641,000 or ($0.32) per share, compared to a net loss of $2,971,000 or ($1.53) per share for the same period ended December 31, 2015. Included in the income for 2016 was a non-cash gain of $888,000 from the prepayment of debt and included in the loss for 2015 is a $2,717,000 non-cash charge for impairment of the value of the Company’s oil and gas properties.