X0101 4 2003-07-06 0 0000909992 BEARD CO /OK BRCO 0001198627 HALLOCK ALLAN R 1 0 0 0 Common Stock Warrant 1.0000 2003-07-06 4 J 0 5000 0 A 2003-07-06 2008-07-05 Common Stock, $.001333 par value 5000.000 5000.000 I A. R. Hallock & Co. On April 5, 2002, ARHCo purchased $100,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 20,000 shares of the Company's common stock, depending on the holding period of the Notes. ARHCo received an additional 5,000 Warrants as of 7/6/03 as a result of holding the Notes more than fifteen months. No consideration was paid for the Warrants. By: Rebecca G. Witcher, Attorney in Fact 2003-07-07