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<SEC-DOCUMENT>0001010549-09-000586.txt : 20090814
<SEC-HEADER>0001010549-09-000586.hdr.sgml : 20090814
<ACCEPTANCE-DATETIME>20090814162548
ACCESSION NUMBER:		0001010549-09-000586
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20090814
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090814
DATE AS OF CHANGE:		20090814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Concept Energy, Inc.
		CENTRAL INDEX KEY:			0000105744
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				752399477
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08187
		FILM NUMBER:		091016202

	BUSINESS ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		9724078400

	MAIL ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CabelTel International Corp
		DATE OF NAME CHANGE:	20050211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREENBRIAR CORP
		DATE OF NAME CHANGE:	19960514

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDICAL RESOURCE COMPANIES OF AMERICA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nce8k081409.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'">
        <p style="BORDER-TOP: #000000 3pt double; MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><a name="QuickMark"></a><a name="_Toc162771803"></a><a name="_Toc162771865"></a><a name="_Toc229905033"></a><a name="OLE_LINK3"></a>&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>UNITED STATES<br>
        SECURITIES AND EXCHANGE COMMISSION<br>
        Washington, D.C. 20549</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>FORM 8-K</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>CURRENT REPORT</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act</b></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><u>August 14</u></b><b><u>, 2009</u></b>&nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><u>NEW CONCEPT ENERGY, INC.</u></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">(Exact Name of Registrant as Specified in its Charter)<br>
        &nbsp;</p>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'" cellspacing="0" cellpadding="0" width="600" align="center" border="0">
            <tr>
                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Nevada</b></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="192">
                    <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>000-08187</b></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>75-2399477</b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-TOP: medium none" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">(State or other jurisdiction of<br>
                    Incorporation or organization)</p>
                </td>

                <td valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="left">(Commission</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="left">&nbsp;&nbsp;&nbsp;&nbsp; File No.)</p>
                </td>

                <td style="BORDER-TOP: medium none" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">(IRS Employer Identification Number)</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>1755 Wittington Place, Suite 340<br>
                    Dallas, Texas</b></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="bottom" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>75234</b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-TOP: medium none" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">(Address of principal executive offices)</p>
                </td>

                <td valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="BORDER-TOP: medium none" valign="top" width="223">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">(Zip Code)</p>
                </td>
            </tr>
        </table>

        <p></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">Registrant&rsquo;s telephone number, including area code&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><u>&nbsp;972-407-8400</u></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="left">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:<br>
        &nbsp;</p>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'">
            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0px; FONT-FAMILY: 'WINGDINGS'">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
                </td>

                <td valign="top">
                    <p style="MARGIN: 0pt 0in; TEXT-INDENT: 0px" align="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
                </td>
            </tr>
        </table>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'">
            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0px; FONT-FAMILY: 'WINGDINGS'">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
                </td>

                <td valign="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td>
            </tr>
        </table>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'">
            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0px; FONT-FAMILY: 'WINGDINGS'">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
                </td>

                <td valign="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</td>
            </tr>
        </table>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'">
            <tr>
                <td valign="top">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 0px; FONT-FAMILY: 'WINGDINGS'">o&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
                </td>

                <td valign="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td>
            </tr>
        </table>
        <br>

        <p style="MARGIN: 0pt 0.5in 0pt 0.8in; TEXT-INDENT: -13px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><img src="nce8k0814090001.jpg"></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b>Section 2 &ndash; Financial Information</b></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b>Item 2.02. Results of Operations and Financial Condition</b></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">On August 14, 2009, New Concept Energy, Inc. (&ldquo;GBR&rdquo; or the &ldquo;Company&rdquo;) announced its operational results for the three months ended June 30, 2009. A copy of the announcement is attached as Exhibit &ldquo;99.1.&rdquo;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit &ldquo;99.1&rdquo; attached hereto, shall not be deemed to be &ldquo;filed&rdquo; 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.</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b>Section 9 &ndash; Financial Statements and Exhibits</b></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b>Item 9.01. Financial Statements and Exhibits</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: 36px" align="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 9px" align="justify">The following exhibit is furnished with this Report:</p>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'" cellspacing="0" cellpadding="0" width="50%" border="0">
            <tr>
                <td valign="bottom" width="73">
                    <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Exhibit</b></p>
                </td>

                <td valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="13">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="70%">&nbsp;</td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom" width="73">
                    <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Designation</b></p>
                </td>

                <td valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="13">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>Description of Exhibit</b></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="6">&nbsp;</td>

                <td valign="middle" width="13">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1*</p>
                </td>

                <td valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="13">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Press Release dated August 14, 2009.</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-BOTTOM: #000000 0.8pt solid" valign="middle" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="middle" colspan="4">
                    <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">*Furnished herewith.</p>
                </td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><img src="nce8k0814090002.jpg"></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>SIGNATURES</b></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.<br>
        &nbsp;</p>

        <table style="FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: 'Times New Roman'" cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="bottom" width="1%">&nbsp;</td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="483">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Dated: August 14, 2009</p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="483">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">NEW CONCEPT ENERGY, INC</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="middle" width="483">&nbsp;</td>

                <td valign="middle">&nbsp;</td>

                <td valign="middle">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="483">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">By: <u>/s/ Gene S. Bertcher</u></p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="483">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Gene S. Bertcher, President and Chief</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="483">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">Financial Officer</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>

        <p></p>
        <!-- PAGE BREAK  -->

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><b>Exhibit 99.1</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><img src="nce8k0814090003.jpg"><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="bottom">
                    <p align="left"><font size="2"><strong>For Immediate Release</strong></font></p>
                </td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90">
                    <p align="right"><font size="2"><strong>Contact:</strong></font></p>
                </td>

                <td valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>Oscar Smith</strong></font></p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="6"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="28"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>Gene Bertcher</strong></font></p>
                </td>

                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>
            </tr>

            <tr>
                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="6"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="28"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>(972) 407-8400</strong></font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" width="16">
                </td>

                <td valign="bottom" width="10">
                </td>

                <td valign="bottom" width="90">
                </td>

                <td valign="bottom" width="6">
                </td>

                <td valign="bottom" width="28">
                </td>

                <td valign="bottom" width="133">
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>

            <tr>
                <td valign="bottom" colspan="7">
                    <p align="center"><strong><font size="2">NEW CONCEPT ENERGY</font></strong></p>
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>

            <tr>
                <td valign="bottom" colspan="7">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2"><b><font style="FONT-SIZE: 10pt">REPORTS</font> <font style="FONT-SIZE: 10pt">FIRST QUARTER 2009</font> <font style="FONT-SIZE: 10pt">RESULTS</font></b></font></p>
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b>Dallas, Texas (Business Wire)</b> <b>August</b> <b>1</b><b>4</b><b>, 2009</b>: New Concept Energy, Inc. (AMEX: GBR), (&ldquo;the Company&rdquo; or &ldquo;NCE&rdquo;), a Dallas-based oil and gas company, today reported net losses of $84,000 and $61,000 ($.03 and $.04 per share) for the three and six months ended June 30, 2009, compared to net income of $15 million ($7.73 and $7.84 per
        share) for the comparable periods of 2008. The primary reason for the decrease in net income is the recognition of gain on the sale of mineral rights in the first quarter of 2008, of which there was no comparable sale in 2009.</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i><a name="PAGENUM"></a>Revenues and Operating Expenses</i>: <a name="OLE_LINK2"></a>For the three and six months ended June 30, 2009, the Company recorded oil and gas revenues of $287,000 and $681,000. No such revenues were earned in the comparable periods in 2008, which was prior to acquisition of the oil and gas operations. During the same periods in 2009, the Company recorded revenues
        of $762,000 and $1.4 million from its retirement property compared to $699,000 and $1.4 million for the comparable periods in 2008.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">For the three and six months ended June 30, 2009, the Company recorded oil and gas operating expenses of $371,000 and $757,000. No such operating expenses were incurred in the comparable periods in 2008, which was prior to acquisition of the oil and gas operations. During the same periods in 2009, operating expenses and lease expense at the retirement property were $621,000 and $1.2
        million as compared to $550,000 and $1.1 million for the comparable periods in 2008.<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">For the three and six months ended June 30, 2009, corporate general &amp; administrative expenses were $235,000 and $497,000 as compared to $264,000 and $525,000 for the comparable periods in 2008. The decrease is primarily due to increased employee-related efficiencies in the 2009 periods as compared to 2008.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i>Interest Income</i>: For the three and six months ended June 30, 2009, interest income was $113,000 and $294,000 as compared to $198,000 and $250,000 for the comparable periods in 2008. The quarter to quarter decrease is primarily due to decreases in the prime lending rate from 2008 to 2009. The increase in the six month comparison is due to the increased receivable on which interest is
        computed over the comparable periods.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i>Interest Expense</i>: The Company recorded interest expense for the three and six months ended June 30, 2009, of $31,000 and $61,000 as compared to $68,000 and $230,000 for the comparable periods in 2008. The decrease is primarily due to the payoff of interest bearing debt during the second quarter of 2008, as well as reduced interest rates on notes payable from 2008 to 2009.</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><i>Other Income</i>: Other income was $12,000 and $43,000 for the three and six months ended June 30, 2009, as compared to $138,000 and $412,000 for the comparable periods in 2008. In 2008, the income was 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.</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b>New Concept Energy, Inc. and Subsidiaries</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="TEXT-TRANSFORM: uppercase"><a name="_Toc166649574"></a><a name="_Toc229905034">Consolidated Statements of Operations</a></font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><i><font style="FONT-WEIGHT: normal">(amounts in thousands, except per share data)</font></i></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="47%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">For The&nbsp;Three Month</font></p>
                </td>

                <td align="left" width="3%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">For The&nbsp;Six Month</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" height="17">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">Period Ended&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">Period Ended&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">June 30,&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">June 30,&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Revenue</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil and gas operations, net of royalties</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">287</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">&mdash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">681</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">&mdash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">762</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">699</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,436</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,403</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,049</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">699</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">2,117</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,403</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">Operating expenses</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil and gas operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">371</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">757</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">383</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">313</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">723</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">628</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease expense</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">238</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">237</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">477</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">473</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate general and administrative</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">235</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">264</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">497</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">525</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,227</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">814</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">2,454</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating loss</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(178</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(115</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(337</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(223</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Other income (expense)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">113</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">198</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">294</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">250</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(31</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(68</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(230</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of leasehold interest</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">16,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">16,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">138</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">43</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">412</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">94</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">16,708</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">276</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">16,872</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) from continuing operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(84</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">16,593</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">16,649</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Net income (loss) applicable to common shares</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(84</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">14,967</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">15,023</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Net earnings (loss) per common share &ndash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;basic and diluted</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(.04</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">7.73</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(0.03</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">7.84</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">Weighted average of common and equivalent shares</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding &ndash; basic and diluted</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,947</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,937</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,947</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,916</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.5in" align="center"><b>New Concept Energy, Inc. and Subsidiaries</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b>CONSOLIDATED BALANCE SHEETS</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">(<i>amounts in thousands</i>)</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="right" border="0">
            <tr valign="bottom">
                <td align="left" width="68%">
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="11%">
                    <p align="center"><font face="Times New Roman" size="2">June 30,</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="left" width="3%"><font face="Times New Roman" size="2">&nbsp; </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="11%">
                    <p align="center"><font face="Times New Roman" size="2">December 31,</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>Assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Current assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">63</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">190</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable - trade</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">133</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">353</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Note and interest receivable &ndash; related party</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,736</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,632</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Other current assets (including $189 from related parties in 2008)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">731</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">527</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp; </font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;&nbsp;</td>

                <td align="left">
                </td>

                <td>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total current assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11,663</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11,702</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2"><strong>Oil and natural gas properties (full cost accounting method):</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Proved developed and undeveloped oil and gas properties</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,873</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,688</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2"><strong>Property and equipment, net of depreciation</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Land, buildings and equipment - oil and gas operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,352</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,291</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Other</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">157</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">149</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total property and equipment</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,509</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Other assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">284</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">228</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Total Assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">24,329</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">24,058</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        &nbsp;<br>
        <br>


        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;&nbsp;&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b>New Concept Energy, Inc. and Subsidiaries</b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b>CONSOLIDATED BALANCE SHEETS - CONTINUED</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">(<i>amounts in thousands, except share amounts</i>)</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="right" border="0">
            <tr valign="bottom">
                <td align="left" width="713">
                <font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">June 30,</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="left" width="3%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">December 31,</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Liabilities And Stockholders&rsquo; Equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Current liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable &ndash; trade</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">318</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">202</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">2,070</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">1,944</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total current liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">2,388</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">2,146</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Long-term debt</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1,143</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1,026</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Other long-term liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">367</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">394</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105">&nbsp;</td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105">&nbsp;&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">3,898</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">3,566</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Stockholders&rsquo; equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, Series B</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $.01 par value; authorized, 100,000,000</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares; issued and outstanding, 1,946,935 shares at</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June 30, 2009 and December 31, 2008</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">20</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">20</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">58,838</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">58,838</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">(38,428</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">(38,367</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">20,431</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">20,492</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Total Liabilities &amp; Equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="105"><font face="Times New Roman" size="2">24,329</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="105"><font face="Times New Roman" size="2">24,058</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><br>
        &nbsp;<br>
        &nbsp;<br>
        </p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i>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</i> <i>1933, and Section 21E of the Securities Exchange Act of 1934. The words &ldquo;estimate&rdquo;, &ldquo;plan&rdquo;,</i> <i>&ldquo;intend&rdquo;, &ldquo;expect&rdquo;, &ldquo;anticipate&rdquo;,
        &ldquo;believe&rdquo; and similar expressions are intended to identify forward-looking statements. These forward-looking statements are found at various places throughout this release.</i> <i>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.</i> <i>Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance
        that our goals will be achieved.</i> <i>Important factors that could cause our actual results to differ from estimates or projects contained in any forward-looking statements are described under I</i><i>TEM</i> <i>1A. R</i><i>ISK</i> <i>F</i><i>ACTORS</i> <i>in the Company&rsquo;s Form 10-K for the fiscal year ended December 31, 2008</i><b><i>.</i></b></p>
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<TEXT>
<html>
    <head>
        <title></title>
        <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
        <!-- Control Number:                                                                  -->
        <!-- Rev Number:                                                                      -->
        <!-- Client Name:                                                                     -->
        <!-- Project Name:                                                                    -->
        <!-- Firm Name:                                                                       -->
    </head>

    <body text="#000000" vlink="#800000" link="#0000ff" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><b><font size="2">Exhibit 99.1</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><img src="nce8k0814090003.jpg"><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="bottom">
                    <p align="left"><font size="2"><strong>For Immediate Release</strong></font></p>
                </td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90">
                    <p align="right"><font size="2"><strong>Contact:</strong></font></p>
                </td>

                <td valign="bottom" width="6">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="28">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>Oscar Smith</strong></font></p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="1%">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="6"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="28"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>Gene Bertcher</strong></font></p>
                </td>

                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>
            </tr>

            <tr>
                <td valign="bottom"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="16">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="10">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="90"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="6"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="28"><font size="2"><strong>&nbsp;</strong> </font></td>

                <td valign="bottom" width="133">
                    <p align="left"><font size="2"><strong>(972) 407-8400</strong></font></p>
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>
            </tr>

            <tr>
                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" width="16">
                </td>

                <td valign="bottom" width="10">
                </td>

                <td valign="bottom" width="90">
                </td>

                <td valign="bottom" width="6">
                </td>

                <td valign="bottom" width="28">
                </td>

                <td valign="bottom" width="133">
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>

            <tr>
                <td valign="bottom" colspan="7">
                    <p align="center"><strong><font size="2">NEW CONCEPT ENERGY</font></strong></p>
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>

            <tr>
                <td valign="bottom" colspan="7">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font size="2"><b><font style="FONT-SIZE: 10pt">REPORTS</font> <font style="FONT-SIZE: 10pt">FIRST QUARTER 2009</font> <font style="FONT-SIZE: 10pt">RESULTS</font></b></font></p>
                </td>

                <td valign="bottom">
                </td>

                <td valign="bottom">
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2"><b>Dallas, Texas (Business Wire)</b> <b>August</b> <b>1</b><b>4</b><b>, 2009</b>: New Concept Energy, Inc. (AMEX: GBR), (&ldquo;the Company&rdquo; or &ldquo;NCE&rdquo;), a Dallas-based oil and gas company, today reported net losses of $84,000 and $61,000 ($.03 and $.04 per share) for the three and six months ended June 30, 2009, compared to net income of $15 million ($7.73
        and $7.84 per share) for the comparable periods of 2008. The primary reason for the decrease in net income is the recognition of gain on the sale of mineral rights in the first quarter of 2008, of which there was no comparable sale in 2009.</font></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><i><a name="PAGENUM"></a><font size="2">Revenues and Operating Expenses</font></i><font size="2">: </font><a name="OLE_LINK2"></a><font size="2">For the three and six months ended June 30, 2009, the Company recorded oil and gas revenues of $287,000 and $681,000. No such revenues were earned in the comparable periods in 2008, which was prior to acquisition of the oil and gas operations.
        During the same periods in 2009, the Company recorded revenues of $762,000 and $1.4 million from its retirement property compared to $699,000 and $1.4 million for the comparable periods in 2008.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2">For the three and six months ended June 30, 2009, the Company recorded oil and gas operating expenses of $371,000 and $757,000. No such operating expenses were incurred in the comparable periods in 2008, which was prior to acquisition of the oil and gas operations. During the same periods in 2009, operating expenses and lease expense at the retirement property were $621,000
        and $1.2 million as compared to $550,000 and $1.1 million for the comparable periods in 2008.<br>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2">For the three and six months ended June 30, 2009, corporate general &amp; administrative expenses were $235,000 and $497,000 as compared to $264,000 and $525,000 for the comparable periods in 2008. The decrease is primarily due to increased employee-related efficiencies in the 2009 periods as compared to 2008.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2"><i>Interest Income</i>: For the three and six months ended June 30, 2009, interest income was $113,000 and $294,000 as compared to $198,000 and $250,000 for the comparable periods in 2008. The quarter to quarter decrease is primarily due to decreases in the prime lending rate from 2008 to 2009. The increase in the six month comparison is due to the increased receivable on
        which interest is computed over the comparable periods.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2"><i>Interest Expense</i>: The Company recorded interest expense for the three and six months ended June 30, 2009, of $31,000 and $61,000 as compared to $68,000 and $230,000 for the comparable periods in 2008. The decrease is primarily due to the payoff of interest bearing debt during the second quarter of 2008, as well as reduced interest rates on notes payable from 2008 to
        2009.</font></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font size="2"><i>Other Income</i>: Other income was $12,000 and $43,000 for the three and six months ended June 30, 2009, as compared to $138,000 and $412,000 for the comparable periods in 2008. In 2008, the income was 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.</font></p>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font size="2">New Concept Energy, Inc. and Subsidiaries</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="TEXT-TRANSFORM: uppercase"><a name="_Toc166649574"></a><a name="_Toc229905034"><font size="2">Consolidated Statements of Operations</font></a></font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><i><font style="FONT-WEIGHT: normal" size="2">(amounts in thousands, except per share data)</font></i></p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="47%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">For The&nbsp;Three Month</font></p>
                </td>

                <td align="left" width="3%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">For The&nbsp;Six Month</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" height="17">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">Period Ended&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">Period Ended&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">June 30,&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td colspan="4">
                    <p align="center"><font face="Times New Roman" size="2">June 30,&nbsp;&nbsp;</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="90">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Revenue</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil and gas operations, net of royalties</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">287</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">&mdash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">681</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">&mdash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">762</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">699</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,436</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,403</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,049</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">699</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">2,117</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,403</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">Operating expenses</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil and gas operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">371</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">757</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">383</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">313</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">723</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">628</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease expense</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">238</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">237</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">477</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">473</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate general and administrative</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">235</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">264</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">497</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">525</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,227</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">814</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">2,454</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="90">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating loss</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(178</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(115</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(337</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(223</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Other income (expense)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">113</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">198</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">294</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">250</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(31</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(68</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">(230</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of leasehold interest</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">16,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">16,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">12</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">138</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">43</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">412</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">94</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">16,708</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">276</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">16,872</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) from continuing operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(84</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">16,593</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">16,649</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="90"><font face="Times New Roman" size="2">--</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">1,626</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Net income (loss) applicable to common shares</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(84</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">14,967</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(61</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">15,023</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">Net earnings (loss) per common share &ndash;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;basic and diluted</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(.04</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">7.73</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="90"><font face="Times New Roman" size="2">(0.03</font></td>

                <td valign="middle" align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">7.84</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">Weighted average of common and equivalent shares</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="90">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding &ndash; basic and diluted</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,947</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,937</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="90"><font face="Times New Roman" size="2">1,947</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,916</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 12pt; FONT-WEIGHT: bold; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.5in" align="center"><b><font size="2">New Concept Energy, Inc. and Subsidiaries</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b><font size="2">CONSOLIDATED BALANCE SHEETS</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><font size="2">(<i>amounts in thousands</i>)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="right" border="0">
            <tr valign="bottom">
                <td align="left" width="68%">
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="11%">
                    <p align="center"><font face="Times New Roman" size="2">June 30,</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="left" width="3%"><font face="Times New Roman" size="2">&nbsp; </font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="11%">
                    <p align="center"><font face="Times New Roman" size="2">December 31,</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2"><strong>Assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Current assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">63</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right"><font face="Times New Roman" size="2">190</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable - trade</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">133</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">353</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Note and interest receivable &ndash; related party</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,736</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,632</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Other current assets (including $189 from related parties in 2008)</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">731</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">527</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp; </font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;&nbsp;</td>

                <td align="left">
                </td>

                <td>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total current assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11,663</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">11,702</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2"><strong>Oil and natural gas properties (full cost accounting method):</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Proved developed and undeveloped oil and gas properties</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,873</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">10,688</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2"><strong>Property and equipment, net of depreciation</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Land, buildings and equipment - oil and gas operations</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,352</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,291</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Other</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">157</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">149</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total property and equipment</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,509</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">1,440</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left">&nbsp;</td>

                <td align="left">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Other assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">284</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right"><font face="Times New Roman" size="2">228</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ffffff">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left"><font face="Times New Roman" size="2"><strong>Total Assets</strong></font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">24,329</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right"><font face="Times New Roman" size="2">24,058</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        &nbsp;<br>
        <br>


        <p></p>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px">&nbsp;&nbsp;&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b><font size="2">New Concept Energy, Inc. and Subsidiaries</font></b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><b><font size="2">CONSOLIDATED BALANCE SHEETS - CONTINUED</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><font size="2">(<i>amounts in thousands, except share amounts</i>)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="right" border="0">
            <tr valign="bottom">
                <td align="left" width="713">
                <font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">June 30,</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="left" width="3%">&nbsp;</td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="1%"><font face="Times New Roman" size="2">&nbsp;&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">December 31,</font></p>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Liabilities And Stockholders&rsquo; Equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">2009</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" width="105">
                    <p align="center"><font face="Times New Roman" size="2">2008</font></p>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr>
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Current liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr bgcolor="#ffffff">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable &ndash; trade</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">318</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">202</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">2,070</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">1,944</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td colspan="3">&nbsp;</td>

                <td colspan="3">
                </td>

                <td colspan="3">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total current liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">2,388</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">2,146</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Long-term debt</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1,143</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1,026</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Other long-term liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">367</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">394</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105">&nbsp;</td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105">&nbsp;&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Total liabilities</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">3,898</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">3,566</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Stockholders&rsquo; equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, Series B</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">1</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $.01 par value; authorized, 100,000,000</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares; issued and outstanding, 1,946,935 shares at</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>

                <td>
                </td>

                <td width="105">
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June 30, 2009 and December 31, 2008</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">20</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">20</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ccdbe3">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">58,838</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right" width="105"><font face="Times New Roman" size="2">58,838</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">(38,428</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">(38,367</font></td>

                <td align="left"><font face="Times New Roman" size="2">)</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">20,431</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td style="BORDER-BOTTOM: black 1px solid" align="right" width="105"><font face="Times New Roman" size="2">20,492</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td align="left" width="713">&nbsp;</td>

                <td align="left" width="10">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>

                <td align="right">
                </td>

                <td align="right" width="105">
                </td>

                <td align="left">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" width="713"><font face="Times New Roman" size="2"><strong>Total Liabilities &amp; Equity</strong></font></td>

                <td align="left" width="10"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="105"><font face="Times New Roman" size="2">24,329</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>

                <td align="right"><font face="Times New Roman" size="2">$</font></td>

                <td style="BORDER-BOTTOM: black 2.25pt double" align="right" width="105"><font face="Times New Roman" size="2">24,058</font></td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp;</font></td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center"><br>
        &nbsp;<br>
        &nbsp;<br>
        </p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in" align="center">&nbsp;</p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2"><i>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</i> <i>1933, and Section 21E of the Securities Exchange Act of 1934. The words &ldquo;estimate&rdquo;, &ldquo;plan&rdquo;,</i> <i>&ldquo;intend&rdquo;, &ldquo;expect&rdquo;,
        &ldquo;anticipate&rdquo;, &ldquo;believe&rdquo; and similar expressions are intended to identify forward-looking statements. These forward-looking statements are found at various places throughout this release.</i> <i>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.</i> <i>Although we believe that our expectations are based upon reasonable assumptions, we
        can give no assurance that our goals will be achieved.</i> <i>Important factors that could cause our actual results to differ from estimates or projects contained in any forward-looking statements are described under I</i><i>TEM</i> <i>1A. R</i><i>ISK</i> <i>F</i><i>ACTORS</i> <i>in the Company&rsquo;s Form 10-K for the fiscal year ended December 31, 2008</i><b><i>.</i></b></font></p>
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