New Concept Energy Inc
New Concept Energy, Inc. was incorporated in Nevada on May 31, 1991, under
the name Medical Resource Companies of America, Inc. The Company is the successor-by-merger
to Wespac Investors Trust, a California business trust that began operating
in 1982. On March 26, 1996, the name was changed to Greenbriar Corporation.
On February 8, 2005, the name of the Company was changed to CabelTel International
Corporation. On May 21, 2008, the name of the company was changed to New Concept
Energy, Inc.
The Company, through its wholly owned subsidiaries Mountaineer State Energy,
Inc. and Mountaineer State Operations, LLC, owns and operates oil and gas wells
and mineral leases in Athens and Meigs Counties in Ohio and in Calhoun, Jackson
and Roane Counties in West Virginia. The majority of our oil & gas operation
was acquired through the acquisition of the Carl E. Smith Companies in 2008.
The Company is a Nevada corporation which owns and operates oil and gas wells
in Ohio and West Virginia.
The Company intends to continue to pursue acquisition of undervalued or distressed
oil and gas related businesses, as well as additional acquisitions of oil and
gas leases. The Company may choose to develop or resell the acquired acreage
as management deems most beneficial to the Company. The Company’s strategy
is dependent on available financing as well as the market price for oil and
gas.
