News Release

Berry Petroleum Company                          Phone (661) 616-3900
5201 Truxtun Avenue, Suite 300                    E-mail:  ir@bry.com
Bakersfield, California 93309-0640             Internet:  www.bry.com

Contacts:Robert F. Heinemann, President and CEO
         Ralph J. Goehring, Executive Vice President and CFO


            BERRY PETROLEUM RESCHEDULES EARNINGS RELEASE;
         EXPECTS RECORD EARNINGS IN SECOND QUARTER OF 2004;
           REVISES ACCOUNTING TREATMENT FOR STOCK OPTIONS


Bakersfield,  CA, July 26, 2004 - Berry Petroleum Company  (NYSE:BRY)
announced  that  its  earnings release and conference  call  for  the
second  quarter  of  2004 are rescheduled for  August  9,  2004.  The
Company  expects  to announce record earnings in the  second  quarter
that ended June 30, 2004.

The  Company  will be revising its accounting method to use  variable
accounting for the expensing of stock options. This accounting method
requires  a  mark-to-market calculation of the Company's  outstanding
stock option grants for each reporting period. The method is required
because the Company has allowed option holders to use a cashless form
of exercising their options. Berry is reviewing the financial impacts
of  these  changes for the periods 2001 through the first quarter  of
2004 and will restate its earnings accordingly. The adjustment, a non-
cash  expense,  has  no  effect on the  Company's  cash  position  or
liquidity.  Concurrently,  the Company  expects  to  adopt  SFAS  123
"Accounting  for  Stock-Based Compensation",  as  amended,  effective
January 1, 2004.

Berry  anticipates that the impact of the restatement  combined  with
the adoption of SFAS 123 will result in a small positive increase  in
earnings for 2004.


"Safe  harbor under the Private Securities Litigation Reform  Act  of
1995:"With  the  exception  of historical  information,  the  matters
discussed  in  this News Release are forward-looking statements  that
involve risks and uncertainties.  Although the Company believes  that
its expectations are based on reasonable assumptions, it can give  no
assurance  that its goals will be achieved.  Important  factors  that
could  cause  actual results to differ materially from those  in  the
forward-looking  statements herein include, but are not  limited  to,
the timing and extent of changes in commodity prices for oil, gas and
electricity,  a  limited  marketplace for  electricity  sales  within
California,  counterparty  risk,  competition,  environmental  risks,
litigation uncertainties, drilling, development and operating  risks,
the  availability  of  drilling  rigs  and  other  support  services,
legislative   and/or   judicial  decisions   and   other   government
regulations.


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