<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>newconcept8kex991081908.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
NEW CONCEPT
ENERGY                                                              Exhibit 99.1




For Immediate Release                                    Contact: Oscar Smith
                                                                  Gene Bertcher
                                                                  (972) 407-8400


                               NEW CONCEPT ENERGY
                       REPORTS SECOND QUARTER 2008 RESULTS

Dallas,  Texas (Business Wire) August 15, 2008: New Concept Energy,  Inc. (AMEX:
GBR),  ("the  Company"  or  "NCE"),  a  Dallas-based  company  investing  in and
developing  oil and gas leases,  today  reported net income of $14.9  million or
$7.73 per share and $15  million or $7.84 per share for the three and six months
ended  June 30,  2008,  compared  to net losses of $6,000 or $0.01 per share and
$433,000 or $0.44 per share for the same periods in 2007.

In November  2007, a wholly owned  subsidiary of NCE acquired 1,712 net acres of
mineral   leasehold   interests  in  four  separate  sections  of  land  in  the
Fayetteville  Shale area of Arkansas from a related party. The acquisition price
was $4,000 per net acre.  The subsidiary  also acquired two separate  options to
acquire additional  leasehold  interests of 1,815 net acres and 583 net acres in
the same county in Arkansas at the same price of $4,000 per net acre.

At the time of the  acquisition it was the Company's  intention,  subject to the
availability  of funds, to develop and drill gas wells on the acreage however an
opportunity  developed  where the Company  could sell the  mineral  rights to an
independent third party for cash.

On May 9, 2008 the company exercised its options to acquire the additional 2,398
acres and completed a sale of all its 4,112 acres of mineral rights. The company
received cash and recorded income before taxes of $16,440,000.

The Company is now attempting to acquire other oil and gas interests.

For the three and six months ended June 30, 2008, the Company recorded  revenues
of $699,000 and $1.4 million  from a real estate  property  compared to $761,000
and $1.5 million for the same periods in 2007.

For the three and six months ended June 30, 2008,  operating  expenses and lease
expense at the retirement property were $550,000 and $1.1 million as compared to
$543,000 and $1.1 million for the same periods in 2007.

For  the  three  and six  months  ended  June  30,  2008,  corporate  general  &
administrative  expenses  were $264,000 and $525,000 as compared to $251,000 and
$474,000 for the same periods in 2007.


<PAGE>

For the three and six months ended June 30, 2008,  interest  income was $198,000
and  $250,000 as compared to $27,000 and  $111,000 for the same periods in 2007.
The increases are due to the Company's increased  investment in interest bearing
notes.

The Company  recorded  interest  expense for the three and six months ended June
30,  2008,  of $68,000 and  $230,000 as compared to no interest  expense for the
same  periods  in 2007.  A wholly  owned  subsidiary  of the  Company  purchased
leasehold interests in November 2007 in approximately 1,712 acres of land in the
Fayetteville  Shale area of Arkansas in exchange  for a $6.8  million  note with
interest at 9.5% per annum.

Other  income was  $148,000 and $412,000 for the three and six months ended June
30,  2008,  as compared to no other  income and $10,000 for the same  periods in
2007. The increase in the period ended March 31, 2008 was principally due to the
collection of back interest from a mortgage bond receivable due to the sale of a
property in August  2001.  Because the mortgage  bond was payable  based on cash
flow and profit of the property, the uncollected interest was not recorded until
collected.  The  increase  during  the  three  months  ended  June 30,  2008 was
principally due to the collection of a note that was previously written off.

     Certain   statements  in  this  media   release  are   forward-looking
     statements  within the  meaning of the Private  Securities  Litigation
     Reform Act of 1995,  Section 27A of the  Securities  Act of 1933,  and
     Section  21E  of  the  Securities  Exchange  Act of  1934.  The  words
     "estimate",  "plan", "intend", "expect",  "anticipate",  "believe" and
     similar   expressions   are   intended  to  identify   forward-looking
     statements.  These  forward-looking  statements  are found at  various
     places throughout this release. New Concept Energy, Inc. disclaims any
     intention  or  obligation  to  update or  revise  any  forward-looking
     statements,  whether as a result of new information,  future events or
     otherwise.  Although we believe that our  expectations  are based upon
     reasonable  assumptions,  we can give no assurance that our goals will
     be achieved.  Important factors that could cause our actual results to
     differ from  estimates or projects  contained  in any  forward-looking
     statements are described  under ITEM 1A. RISK FACTORS in the Company's
     Form 10-K for the fiscal year ended December 31, 2007.


<PAGE>
<TABLE>
<CAPTION>

                            New Concept Energy, Inc.
                      Consolidated Statements of Operations
                  (amounts in thousands, except per share data)


                                                                For The Three Month             For The Six Month
                                                                   Period Ended                    Period Ended
                                                                     June 30,                        June 30,
                                                               2008            2007            2008            2007
                                                             --------        --------        --------        --------
                                                                    (Unaudited)                     (Unaudited)
<S>                                                                                                          <C>
Revenue
         Real estate operations                              $    699        $    761        $  1,403        $  1,482
                                                             --------        --------        --------        --------

Operating expenses
         Real estate operations                                   313             324             628             630
         Lease expense                                            237             219             473             459
         Corporate general and administrative                     264             251             525             474
                                                             --------        --------        --------        --------
                                                                  814             794           1,626           1,563
                                                             --------        --------        --------        --------

                  Operating loss                                 (115)            (33)           (223)            (81)

Other income (expense)
         Interest income                                          198              27             250             111
         Interest expense                                         (68)           --              (230)           --
               Gain on the sale of leasehold interests         16,440            --            16,440            --

         Other income net                                         138            --               412              10
                                                             --------        --------        --------        --------
                                                               16,708              27          16,872             121
                                                             --------        --------        --------        --------

         Earnings (loss) from continuing operations            16,593              (6)         16,649              40
         Provision for income taxes                             1,626            --             1,626            --
                                                             --------        --------        --------        --------

         Net income (loss) from continuing operations          14,967              (6)         15,023              40

                                                             --------        --------        --------        --------
Discontinued Operations
         Loss from operations                                    --              --              --              (159)
         Provision for asset impairment                          --              --              --              (314)
                                                             --------        --------        --------        --------
         Loss from discontinued operations                                       --              --              (473)
                                                             --------        --------        --------        --------

Net income (loss) applicable to common shares                  14,967              (6)         15,023            (433)
                                                             ========        ========        ========        ========

Earnings (loss) per share - basic and diluted
         Continuing operations                               $   7.73        $  (0.01)       $   7.84        $   0.04
         Discontinued operations                                 --              --              --             (0.48)
                                                             --------        --------        --------        --------

         Net income (loss) per share                         $   7.73        $  (0.01)       $   7.84        $  (0.44)
                                                             ========        ========        ========        ========

Basic weighted average common shares                            1,937             986           1,916             986

</TABLE>







<PAGE>

                            New Concept Energy, Inc.
                           Consolidated Balance Sheets
                             (amounts in thousands)



                                                        June 30,    December 31,
Assets                                                    2008          2007
                                                       (Unaudited)
                                                         -------      -------

Current assets
         Cash and cash equivalents                       $   159      $   172
         Notes and interest receivable - related party    16,149        2,200
         Other current assets                                 11            8
                                                         -------      -------

                  Total current assets                    16,319        2,380

Investment in mineral rights                                --          6,848

Deposit for oil & gas acquisitions                         5,429         --

Property and equipment, at cost
         Land and improvements                                20           20
         Buildings and improvements                          172          172
         Equipment and furnishings                           373          336
                                                         -------      -------
                                                             565          528

          Less accumulated depreciation                      417          397
                                                         -------      -------
                                                             148          131

Deferred tax asset                                          --            250

Other assets                                                 250          177
                                                         -------      -------

Total Assets                                             $22,146      $ 9,786
                                                         =======      =======








<PAGE>
                            New Concept Energy, Inc.
                     Consolidated Balance Sheets - Continued
                  (amounts in thousands, except share amounts)

                                                          June 30,  December 31,
Liabilities and Stockholders' equity                        2008        2007
                                                        (Unaudited)
                                                          --------    --------
Current liabilities
         Accounts payable - trade                         $     82    $     90
         Income taxes payable                                1,376        --
         Accrued expenses                                      266         175
                                                          --------    --------

                  Total current liabilities                  1,724         265

Long term debt - related party                                --         6,921

Other long-term liabilities                                    428         459
                                                          --------    --------

                  Total liabilities                          2,152       7,645

Stockholders' equity
         Preferred stock, Series B                               1           1
         Common stock $.01 par value; authorized,
                  100,000,000 shares; 986,943 shares at
                  June 30, 2007 and 1,936,985 shares at
                  June 30, 2008 issued and outstanding          19          10
         Additional paid-in capital                         58,814      55,992
         Accumulated deficit                               (38,840)    (53,862)
                                                          --------    --------

                                                            19,994       2,141
                                                          --------    --------
Total Liabilities and Equity                              $ 22,146    $  9,786
                                                          ========    ========


</TEXT>
</DOCUMENT>
