Exhibit 14

                                THE BEARD COMPANY

                        Finance Department Code of Ethics



As a public company it is of critical  importance  that the Beard's filings with
the  Securities  and Exchange  Commission  be accurate and timely.  Depending on
their position with Beard,  employees may be called upon to provide  information
to  assure  that  the  Company's   public   reports  are   complete,   fair  and
understandable.  Beard expects all of its personnel to take this  responsibility
very seriously and to provide prompt and accurate  answers to inquiries  related
to the Company's public disclosure requirements.

The Finance Department bears a special  responsibility  for promoting  integrity
throughout the organization,  with  responsibilities to stakeholders both inside
and outside of the Company.  The Chief  Executive  Officer,  the Chief Financial
Officer, the Chief Accounting Officer and the Treasurer have a special role both
to  adhere to these  principles  themselves  and also to  ensure  that a culture
exists  throughout  the  Company  as a whole  that  ensures  the fair and timely
reporting of Beard's financial results and condition.

Because of this special  role,  the Chief  Executive  Officer and all members of
Beard's Finance Department are bound by the following  Financial Officer Code of
Ethics,  and by accepting the Code of Business  Conduct,  each agrees that he or
she will:

     o    Act with honesty and integrity,  avoiding actual or apparent conflicts
          of interest in personal and professional relationships.

     o    Provide information that is accurate, complete,  objective,  relevant,
          timely and understandable to ensure full, fair, accurate,  timely, and
          understandable  disclosure in reports and  documents  that Beard files
          with,  or  submits  to,  government   agencies  and  in  other  public
          communications.

     o    Comply with rules and  regulations of federal,  state,  provincial and
          local governments, and other appropriate private and public regulatory
          agencies.

     o    Act  in  good  faith,  responsibly,  with  due  care,  competence  and
          diligence,  without  misrepresenting  material facts or allowing one's
          independent judgment to be subordinated.

     o    Respect the  confidentiality of information  acquired in the course of
          one's work except when  authorized or otherwise  legally  obligated to
          disclose.  Confidential  information  acquired  in the course of one's
          work will not be used for personal advantage.

     o    Achieve  responsible  use of and control over all assets and resources
          employed or entrusted.

     o    Promptly  report to the  Chairman of the Audit  Committee  any conduct
          that the  individual  believes  to be a  violation  of law or business
          ethics  or of any  provision  of the Code of  Conduct,  including  any
          transaction or relationship  that reasonably could be expected to give
          rise to such a conflict.

Violations  of this  Financial  Officer  Code of Ethics,  including  failures to
report potential  violations by others,  will be viewed as a severe disciplinary
matter that may result in personnel action, including termination of employment.
If you believe  that a violation  of the  Financial  Officer  Code of Ethics has
occurred,  please  contact the Audit  Committee of the Board of Directors at the
following address:

     o    Ford C. Price, Chairman

          Audit Committee

          The Beard Company

          P. O. Box 20267

          Oklahoma City OK 73156




It is against  Beard  policy to  retaliate  against any  employee for good faith
reporting of violations of this Code.