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New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2024 Results

DALLAS--(BUSINESS WIRE)-- New Concept Energy, Inc. (NYSE American: GBR), (the 鈥淐ompany鈥� or 鈥淣CE鈥�) a Dallas-based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2024.

During the three months ended December 31,2024 the Company reported a net loss of $19,000 compared to a net loss of $39,000 for the same period ended December 31, 2023.

For the full year ended December 31, 2024 the Company reported a net loss of $18,000 compared to a net loss of $21,000 for the same period ended December 31, 2023.

Fiscal 2024 as compared to 2023

Revenues: Revenues from rent for the leased property was $101,000 in 2024 and 2023. Revenues from managing the oil and gas operations for a third party was $45,000 and $51,000 in 2024 and 2023. The management agreement has the Company receiving a management fee of 10% of oil and gas revenue. The decrease in management fees is due to a decrease in revenue due to a decline in oil and gas prices.

Operating Expenses: Operating expenses for the real estate property was $48,000 in 2024 and $57,000 in 2023. General and administrative expenses were $335,000 in 2024 and $338,000 in 2023.

Interest Income: Interest Income was $213,000 in 2024 and $222,000 in 2023.

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based company which owns 191 acres of land located in Parkersburg, West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. For more information, visit the Company鈥檚 website at .

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New Concept Energy Inc.

Gene Bertcher

(800) 400-6407

[email protected]

Source: New Concept Energy, Inc.