New Concept Energy, Inc., 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 Company has approximately 150 producing gas wells, 31 non-producing wells and related equipment and mineral leases covering approximately 20,000 acres. The Company operates in two segments: oil and gas operations and retirement facilities. The Company leased one independent living community in Oregon, with a capacity of approximately 114 residents. The Company sells its natural gas production to one purchaser and all of its oil production to one purchaser.