X0101 4 2003-06-01 0 0000909992 BEARD CO /OK BRCO 0001191506 BEARD WILLIAM M 1 1 1 0 Chief Executive Officer Common Stock Warrants 1.0000 2003-06-01 4 J 0 6000 0 A 2003-06-01 2008-05-31 Common Stock, $.001333 par value 6000.000 6000.000 I By Charitable Unitrust On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,0000 Warrants as of June 1, 2003 as a result of holding the Notes more than twelve months. No consideration was paid for the Warrants By: Rebecca G. Witcher, Attorney in Fact 2003-06-02