As filed with the Securities and Exchange Commission on January 6, 1998

                                       Registration No. 33-87110

                     POST EFFECTIVE AMENDMENT NO. 1
                                  TO
                               FORM S-8

     Registration Statement under the Securities Act of 1933


                         THE BEARD COMPANY
      (Exact name of registrant as specified in its charter)

             Oklahoma                           73-0970298
  (State or other jurisdiction                (I.R.S. Employer
of incorporation or organization)            Identification No.)

     Enterprise Plaza, Suite 320
       5600 North May Avenue
         Oklahoma City, OK                         73112
(Address of Principal Executive Offices)         (Zip Code)


             THE BEARD COMPANY 1993 STOCK OPTION PLAN
                     (Full title of the plan)

 Herb Mee, Jr., President and                    Copies to:
   Chief Financial Officer                   Jerry A. Warren, Esq.
      The Beard Company                         McAfee & Taft
 Enterprise Plaza, Suite 320             A Professional Corporation
    5600 North May Avenue                        Tenth Floor
   Oklahoma City, OK 73112                 Two Leadership Square
 (Name and address of agent               Oklahoma City, OK 73112
         for service)

                           405/842-2333
  (Telephone number, including area code, of agent for service)

                 -------------------------------

          On November 26, 1997, The Beard Company, an Oklahoma corporation,
merged with  and  into  its newly formed Oklahoma subsidiary, The New Beard
Company, the name of which  has  been  changed  to  The  Beard Company as a
result  of  the merger ("Newco").  By this amendment, Newco  hereby  adopts
this registration statement, as well as the 1993 stock option plan which is
the subject of  this registration statement, as its own for all purposes of
the Securities Act  of  1933 and the Securities Exchange Act of 1934.  This
adoption  is  made  pursuant  to  rule  414(d)  as  promulgated  under  the
Securities Act of 1933.

                            SIGNATURES

          Pursuant to  the  requirements of the Securities Act of 1933, the
registrant certifies that it  has  reasonable  grounds  to  believe that it
meets  all of the requirements for filing on Form S-8 and has  duly  caused
this amendment  to the registration statement to be signed on its behalf by
the undersigned,  thereunto  duly  authorized,  in  Oklahoma City, State of
Oklahoma, on the 6th day of January, 1998.

                              THE BEARD COMPANY
                              (formerly The New Beard Company)


                              By HERB MEE, JR.
                                 Herb Mee, Jr., President and
                                 Chief Financial Officer


          Pursuant to the requirements of the Securities  Act of 1933, this
amendment  to the registration statement has been signed by  the  following
persons in the capacities indicated on January 6, 1998.


WILLIAM M. BEARD                   HERB MEE, JR.
William M. Beard, Chairman of      Herb Mee, Jr., President, Chief
the Board, Chief Executive         Financial Officer and Director
Officer and Director


JACK A. MARTINE
Jack A. Martine, Controller
and Chief Accounting Officer


ALLAN R. HALLOCK                    MICHAEL E. CARR
Allan R. Hallock, Director          Michael E. Carr, Director

FORD C. PRICE                       HARLON E. MARTIN, JR.
Ford C. Price, Director             Harlon E. Martin, Jr., Director