X0201 4 2004-01-15 0 0000909992 BEARD CO /OK BRCO 0001198627 HALLOCK ALLAN R 5600 N. MAY AVENUE, SUITE 320 OKLAHOMA CITY OK 73112 1 0 0 0 Common Stock, $.001333 par value 41944.000 D Common Stock, $.001333 par value 19618.000 I A. R. Hallock & Co. Common Stock Warrant 1.0000 2003-01-06 2008-01-05 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2003-02-03 2008-02-02 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2003-04-06 2008-04-05 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2003-05-03 2008-05-02 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2003-07-06 2008-07-05 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2003-08-03 2008-08-02 Common Stock, $.001333 par value 3750.000 3750.000 I Allan R. Hallock Trust 2003-2 Deferred Stock Comp. Units 0.0000 1988-08-08 1988-08-08 Common Stock, $.001333 par value 5340.758 5340.758 D Common Stock Warrant 1.0000 2002-10-06 2007-10-05 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust Common Stock Warrant 1.0000 2002-11-03 2007-11-02 Common Stock, $.001333 par value 5000.000 5000.000 I Allan R. Hallock Trust A. R. Hallock & Co., (ARHCo) is a nominee partnership for estate planning purposes. These stock units were accrued under The Beard Company 2003-2 Deferred Stock Compensation Plan and are to be settled 100% in BRCO Common Stock upon the reporting person's termination of service or termination of the Plan. These warrants were assigned from A. R. Hallock & Co. to Allan R. Hallock Trust on January 15, 2004. On May 3, 2002, ARHCo purchased and additional $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. The Company paid off 25% of the original Note on August 1, 2003. Therefore, ARHCo received an additional 3.750 Warrants as of 8/3/03 as a result of holding the balance of the Notes more than fifteen months. No consideration was paid for the Warrants. By: Rebecca G. Witcher, Attorney in Fact 2004-01-16