Exhibit 99.2
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
COMMENCES $1,800,000 CONVERTIBLE NOTE OFFERING
FOR IMMEDIATE RELEASE: September 15, 2004
Oklahoma City, Oklahoma --- During the past 60 days the Company announced
the execution of a services agreement and a pond fines recovery agreement for
projects to be undertaken by Beard Technologies, Inc. In order to provide the
equity required to secure the debt financing needed for the pond fines recovery
project, The Beard Company (OTCBB:BRCO) today announced that it has arranged for
an investment banking firm to sell $1,800,000 of 9% 5-year subordinated notes to
accredited investors in a private placement on a best efforts basis. The notes
are convertible into shares of the Company's common stock at a conversion price
of $1.50 per share. Some of the notes will also be sold by the Company.
Neither the 9% convertible notes nor the underlying common stock into which
they are convertible have been registered under the Securities Act of 1933, as
amended 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: hmee@beardco.com