Exhibit 99

[The Beard Company Logo]

     THE BEARD COMPANY                                         News Release
Enterprise Plaza, Suite 320
   5600 North May Avenue                                Herb Mee, Jr., President
Oklahoma City, Oklahoma 73112
(405) 842-2333    OTCBB:  BRCO

                                THE BEARD COMPANY
                        COMPLETES PLACEMENT OF $1,200,000
                      OF PARTICIPATING NOTES WITH WARRANTS

FOR IMMEDIATE RELEASE:  Tuesday, June 8, 2004

     Oklahoma City,  Oklahoma --- The Beard Company  (OTCBB:BRCO) today reported
that it has  completed  the  sale of  $1,200,000  of  Participating  Notes  with
Warrants due November 30, 2006 to a group of private investors.  $500,000 of the
Notes were sold by an  investment  banking firm which  received a 6%  commission
thereon.  $700,000  of the  Notes  were  sold by the  Company.  The  Notes  were
accompanied  by Warrants to purchase a total of 240,000  shares of Beard  common
stock at exercise  prices  ranging  from $0.27 to $0.46 per share.  The exercise
price of the Warrants was determined by the weighted  average closing sale price
of the Company's stock for the 90 days preceding the date of each subscription.

     The Notes bear interest at an annual rate equal to the Wall Street  Journal
Prime Rate (the  "Index")  plus 4%, with a floor of 10%.  The Index is currently
4%, so the initial rate is 10%. The Notes will bear interest only until November
30, 2004 and will then  amortize  with equal  payments of principal and interest
over the ensuing eight quarters. The Note holders will also collectively receive
at maturity a bonus/production  payment of approximately $1 per ton for the coal
recovered to such date from one of the  reclamation  projects  which the Company
expects to commence soon.

     Herb Mee,  Jr.,  President  of the  Company,  stated:  "Demand for our coal
reclamation  services  is at the  highest  level in the  Company's  history as a
result of the current high range of natural gas prices which has  ballooned  the
spot price of Appalachian  coal to the $50 to $55 per ton level.  The Company is
actively  pursuing  seven  different  coal  reclamation  projects and expects to
finalize agreements on the first two of these shortly."

     "Proceeds  of the  Notes  will be used for  working  capital,"  Mee  added.
"Primary purpose of the offering was to provide the working capital necessary to
retire  the  Company's  remaining  short-term  debt  and to fund  the  Company's
operations  until the  anticipated  coal  projects  have been  commenced and are
producing positive cash flow."

     Neither the 10%  Participating  Notes nor the Warrants have been registered
under the Securities Act of 1933, as amended,  or any state  securities laws and
may not be  offered  or sold in the  United  States  absent  registration  or an
applicable exemption from registration requirements.

     The Beard Company's  common stock is traded on the OTC Bulletin Board under
the  symbol:  BRCO.  Its  operations  consist  principally  of coal  reclamation
activities,  carbon dioxide (CO2) gas production, the construction of fertilizer
plants in China,  and its  e-commerce  activities  aimed at developing  business
opportunities  to leverage  starpay(TM)'s  intellectual  property  portfolio  of
Internet payment methods and security technologies.

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FOR FURTHER INFORMATION CONTACT:  Herb Mee, Jr.

Fax Number (405) 842-9901                              Email: hmeebeardco.com