July 23, 2016 - 6:56 AM EDT
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New Concept Energy (GBR) sees Unusual Volume Friday up +150%

New Concept Energy, Inc. (GBR) closed Friday trading up 150%. The Dallas-based oil and gas company has a market cap of $4.51 million and 1.97M shares outstanding. The company has been increasing oil and gas production in 2016 and lowered the amount of manpower at wells that were unprofitable last year.

The company was founded in 1978 and has exploration projects in the Appalachian Basin and the Utica Basin. Last year’s revenues were $3.8 million and were $4.4 million in 2014. The company also owns retirement communities that had an increase in revenue for 2015.

The company’s trading volume for Friday dwarfed the three-month average by almost 3 times the amount. This unusual volume does not seem to be related to any verifiable news, but there were rumors of increased production at the company’s oil wells.

Through its subsidiaries, GBR 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.

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Source: Equities.com News (July 23, 2016 - 6:56 AM EDT)

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