New Concept Energy, Inc.: insider trades · United States · SEC (Form 4)

About New Concept Energy, Inc.

New Concept Energy, Inc. (ticker: GBR) is a US-listed company quoted on NYSE American, not on the main NYSE or NASDAQ boards. For francophone investors, it is best viewed as a small-cap energy name with an unusually hybrid history: the company has roots in real estate and development-related activities, but its current positioning is centered on oil and natural gas. Its headquarters are in Dallas, Texas, United States. The company says it was founded in 1978 and that it has focused on energy resource development since 2003. SEC filings also describe it as the successor by merger to Wespac Investors Trust, which began operating in 1982, and the company changed its name to New Concept Energy, Inc. in 2008. ([newconceptenergy.com](https://www.newconceptenergy.com/?utm_source=openai)) Operationally, New Concept Energy presents itself as a fully integrated producer of oil and gas, with current properties concentrated in the Appalachian Basin and the Utica Basin. Its core functions are coordinated from Dallas across business development, finance, engineering and planning, land management, human resources, and technical support. The company also continues to seek acquisition opportunities and controlling interests in projects that fit its investment criteria, including onshore and offshore assets with existing production or shut-in wells. That strategy indicates a deal-oriented operating model rather than a pure organic exploration-and-development platform. ([newconceptenergy.com](https://www.newconceptenergy.com/?utm_source=openai)) From a competitive standpoint, GBR remains a niche, smaller-scale player in North American energy. Its recent SEC filings classify the business under SIC 1311, crude petroleum and natural gas, and some filings explicitly identify the company as a shell company, which is a meaningful signal for investors. In practical terms, that suggests limited operating scale, a relatively flexible corporate structure, and potentially a greater emphasis on capital allocation, transactions, and asset-level opportunities than on broad upstream diversification. The company’s market exposure is therefore highly sensitive to commodity prices, capital availability, and the performance of a concentrated asset base. ([sec.gov](https://www.sec.gov/Archives/edgar/data/105744/000121465926004135/0001214659-26-004135-index.htm?utm_source=openai)) Recent developments point to an active corporate and financing agenda. In 2025 and 2026, New Concept Energy filed its annual report and quarterly reports, disclosed a consulting management agreement tied to oil and gas operations, and announced on April 13, 2026 a Subscription Agreement and Letter of Investment Intent under which Realty Advisors, Inc. agreed to acquire 2,000,000 common shares at a price of at least $1.00 per share in cash. For investors, that combination suggests a company focused on preserving optionality, securing capital, and pursuing strategic transactions rather than one with a large, self-funded growth profile. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0000105744/000121465926004135/nc32026010k.htm?utm_source=openai))