[THE BEARD COMPANY LOGO]
Exhibit 99
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
ANNOUNCES 2005 RESULTS
FOR IMMEDIATE RELEASE: Tuesday, April 18, 2006
Oklahoma City, Oklahoma --- The Beard Company (OTCBB:BRCO) today
announced its financial results for 2005. The Company reported a net loss of
$2,160,000, or $0.37 per share, on revenues of $1,379,000 in 2005, compared with
net earnings of $937,000, or $0.18 per share, on revenues of $972,000, in 2004.
On a diluted basis, 2005 reflected a net loss of $0.37 per common share versus
net earnings of $0.14 per share in 2004.
Herb Mee, Jr., President, stated: "The results for the current year are
somewhat of an anomaly. 2005 reflected an operating loss of $1,717,000,
virtually flat when compared with the 2004 operating loss of $1,700,000. The
loss from continuing operations in 2005 totaled $2,302,000 versus earnings from
continuing operations of $937,000 in 2004. A $2,943,000 gain on the McElmo Dome
Settlement in 2004 accounted for most of the $3,239,000 difference. Increased
interest expense of $305,000 in 2005 accounted for the rest of the difference."
"Our 2005 results reflect the delay in getting our Pinnacle coal
project started and a slower buildup of sales at our China fertilizer plant than
originally projected," Mee continued. "Construction of the Pinnacle Project is
moving ahead rapidly, and pictures of the site can now be viewed on our web
site. We expect to have initial coal sales in June and anticipate that the China
plant will become profitable in the 2006 third quarter. In short, we believe
there are better days ahead."<F1>
Our common stock is traded on the OTC Bulletin Board under the symbol:
BRCO. Our operations consist principally of coal reclamation activities, carbon
dioxide (CO2) gas production, the construction and operation of fertilizer
plants in China, and our e-commerce activities aimed at developing business
opportunities to leverage starpay(TM)'s intellectual property portfolio of
Internet payment methods and security technologies.
Fax Number (405) 842-9901 Email: hmee@beardco.com
THE BEARD COMPANY
Results of Operations
For the Three Months For the Year
Ended December 31, Ended December 31,
-------------------------- ---------------------------
(Unaudited) (Audited)
2005 2004 2005 2004
----------- ----------- ----------- -----------
Revenues..........................................................$ 465,000 $ 350,000 $ 1,379,000 $ 972,000
Expenses.......................................................... 1,073,000 849,000 3,096,000 2,672,000
----------- ----------- ----------- -----------
Operating loss ................................................... (608,000) (499,000) (1,717,000) (1,700,000)
Other income (expense) ........................................... (225,000) (66,000) (550,000) 2,755,000
----------- ----------- ----------- -----------
Earnings (loss) before income taxes .............................. (833,000) (565,000) (2,267,000) 1,055,000
Income tax benefit (expense)...................................... (1,000) 18,000 (35,000) (118,000)
----------- ----------- ----------- -----------
Earnings (loss) from continuing operations........................ (834,000) (547,000) (2,302,000) 937,000
Earnings (loss) from discontinued operations...................... (2,000) (4,000) 142,000 --
----------- ----------- ----------- -----------
($ 836,000) ($ 551,000) ($ 2,160,000) $ 937,000
=========== =========== =========== ===========
Net earnings (loss) per average common share outstanding: Basic<F2>:
Earnings (loss) from continuing operations ...................$ (0.14) $ (0.10) $ (0.39) $ 0.18
Earnings (loss) from discontinued operations .................$ (0.00) $ (0.00) $ 0.02 $ --
----------- ----------- ----------- -----------
Net earnings (loss) ..........................................$ (0.14) $ (0.10) $ (0.37) $ 0.18
=========== =========== =========== ===========
Diluted<F2>:
Earnings (loss) from continuing operations ...................$ (0.14) $ (0.10) $ (0.39) $ 0.14
Earnings from discontinued operations ........................$ (0.00) $ (0.00) $ 0.02 $ --
----------- ----------- ----------- -----------
Net earnings (loss) ..........................................$ (0.14) $ (0.10) $ (0.37) $ 0.14
=========== =========== =========== ===========
Weighted average common shares outstanding:
Basic ....................................................... 5,757,000 5,498,000 5,888,000 5,215,000
=========== =========== =========== ===========
Diluted ..................................................... 5,757,000 5,498,000 5,888,000 6,478,000
=========== =========== =========== ===========
_______________
<FN>
<F1>
Statements regarding future profitability and operations, including the timing of those activities, are "forward
looking statements" within the meaning of the Private Securities Litigation Reform Act. The statements involve risks
that could significantly impact The Beard Company. These risks include, but are not limited to, adverse general
economic conditions, unexpected costs or delays or other unexpected events, as well as other risks discussed in detail
in our filings with the Securities and Exchange Commission. We assume no duty to update or revise our forward-looking
statements based on changes in internal estimates or otherwise.
<F2>
Basic earnings (loss) per share are computed by dividing earnings (loss) attributable to common shareholders by the
weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share reflect
the potential dilution that could occur if our outstanding stock options and warrants were exercised (calculated using
the treasury stock method) and if our preferred stock was converted to common stock.
</FN>
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FOR FURTHER INFORMATION CONTACT:
Herb Mee, Jr., President
THE BEARD COMPANY
e-mail: hmee@beardco.com
Telephone: (405) 842-2333
Fax: (405) 842-9901