Exhibit 5

                                   LAW OFFICES
                                  MCAFEE & TAFT
                           A PROFESSIONAL CORPORATION
                        10TH FLOOR, TWO LEADERSHIP SQUARE
                               211 NORTH ROBINSON
                       OKLAHOMA CITY, OKLAHOMA 73102-7103
                                 (405) 235-9621
                               FAX (405) 235-0439
                            http://www.mcafeetaft.com




                               September 22, 2003

Mr. Herb Mee, Jr.
The Beard Company
Enterprise Plaza, Suite 320
5600 North May Avenue
Oklahoma City, Oklahoma  73112


                                  Re:      The Beard Company 2003 Deferred Stock
                                           Compensation Plan

Ladies and Gentlemen:

     Reference  is made to your  Registration  Statement on Form S-8 to be filed
with the Securities and Exchange Commission today with respect to 150,000 shares
of common stock, $0.001333 par value per share (the "Common Stock") to be issued
pursuant  to The  Beard  Company  2003  Deferred  Stock  Compensation  Plan (the
"Plan").

     We have examined your corporate records and made such other  investigations
as we deemed appropriate for the purpose of this opinion.

     Based upon the foregoing, we are of the opinion that:

          1. The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of the State of Oklahoma

          2. The  issuance  of the  Common  Stock  has been duly  authorized  by
appropriate corporate action on behalf of the Company.

          3. When issued  pursuant to the Plan, the Common Stock will be validly
issued, fully paid and non-assessable.

     We hereby  consent to the  inclusion  of this  opinion as an exhibit to the
above mentioned Registration Statement.

                                        Very truly yours,

                                        MCAFEE & TAFT A PROFESSIONAL CORPORATION
                                        McAfee & Taft A Professional Corporation