Beard (BRCO) 8-K/A Financial Statements and Exhibits

Exhibit 99.1
THE BEARD COMPANY
PRO FORMA CONDENSED BALANCE SHEETS
(Unaudited)
(Adjusted to Reflect the Disposition
of the Company's Interest in McElmo Dome)
				ASSETS
			as of March 31, 2009					as of December 31, 2008
					Disposition		Pro Forma		Disposition		Pro Forma
			Historical		Adjustments		(a)(b)(c)(d)(e)	Historical	Adjustments		(a)(b)(c)(d)(e)
Current assets:
	Cash and cash equivalents		115,000		-		115,000	182,000	-		182,000
	Net accounts receivable		160,000		5,148,000	(b)	5,308,000	185,000	5,148,000	(b)	5,333,000
	Assets of discontinued operations
	held for resale		21,000		-		21,000	26,000	-		26,000
	Other current assets		7,000		-		7,000	5,000	-		5,000
		Total current assets	303,000		5,148,000	(b)	5,451,000	398,000	5,148,000	(b)	5,546,000
Investments and other assets			144,000		-		144,000	137,000	-		137,000
Net property, plant and equipment			1,218,000		(238,000)	(a)	980,000	1,221,000	(241,000)	(a)	980,000
Net intangible assets			7,000		-		7,000	9,000	-		9,000
			1,672,000		4,910,000	(a)	6,582,000	1,765,000	4,907,000	(a)	6,672,000
			LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
	Accrued expenses		322,000		8,000	(e)	330,000	431,000	8,000	(e)	439,000
	Short-term debt		175,000		-		175,000	57,000	-		57,000
	Current maturities of long-term debt		996,000		-		996,000	895,000	-		895,000
	Current maturities of long-term debt -
	related entities		390,000		-		390,000	390,000	-		390,000
	Liabilities of discontinued operation
	held for resale		51,000		-		51,000	65,000	-		65,000
	Other current liabilities		168,000		-		168,000	97,000	-		97,000
	Total current liabilities		2,102,000		8,000		2,110,000	1,935,000	8,000		1,943,000
Long-term debt less current maturities			420,000		-		420,000	420,000	-		420,000
Long-term debt - related entities			2,250,000		-		2,250,000	2,250,000	-		2,250,000
Other long-term liabilities			169,000		-		169,000	172,000	-		172,000
Shareholders' equity (deficiency):
Convertible preferred stock			889,000		-		889,000	889,000	-		889,000
Common stock			7,000		-		7,000	7,000	-		7,000
Accumulated deficit			(1,357,000)		4,902,000	(c)	3,545,000	(1,107,000)	4,899,000	(c)	3,792,000
	Total shareholders' equity (deficiency)
	attributable to The Beard Company		(461,000)		4,902,000	(c)	4,441,000	(211,000)	4,899,000	(c)	4,688,000
	Noncontrolling interests		(2,808,000)		-		(2,808,000)	(2,801,000)	-		(2,801,000)
	Total shareholders' equity (deficiency)		(3,269,000)		4,902,000	(c)	1,633,000	(3,012,000)	4,899,000	(c)	1,887,000
	Total liabilities and

	shareholders' equity (deficiency)	1,672,000	4,910,000	(a)(b)(c) (d)(e)	6,582,000	1,765,000	4,907,000	(a)(b)(c) (d)(e)	6,672,000
(a)  Reflects the removal of net book value of assets of in McElmo Dome Field as a result of the sale on May 8, 2009 of the Company's interest in the assets.
(b)  Reflects the receivable for the proceeds from the sale of the Company's interests in the assets which were sold on May 8, 2009.
(c)  Reflects the gain recognized as a result of the sale of the Company's interest in the assets.
(d)  For each of the balance sheets presented, the transaction is assumed to have occurred on the last day of the period presented.
(e)  Represents accrued legal fees associated with the sale of the McElmo Dome Field.