SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: (Date of earliest event reported) March 31, 2005


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


          Oklahoma                 001-12396                73-0970298
(State or other jurisdiction      (Commission             (IRS Employer
     of incorporation)            File Number)         Identification No.)


                                Enterprise Plaza
                               5600 N. May Avenue
                                    Suite 320
                          Oklahoma City, Oklahoma 73112
               (Address of principal executive offices) (Zip Code)

                                 (405) 842-2333
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
    (17 CFR 240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))


Information to be Included in the Report

Item 3.02  Unregistered Sales of Equity Securities

     On May 31, 2002, The Beard Company,  (the "Company")  completed the sale of
$1,200,000  aggregate  principal amount of 10% Subordinated  Notes due September
30, 2003 (the "10%  Notes").  In  connection  with the sale of the 10% Notes the
Company issued  warrants to purchase an aggregate of 547,625 shares (as adjusted
to reflect a subsequent 2-for-1 stock split effective August 6, 2004 (the "Stock
Split") of the Company's  common stock at exercise  prices  (adjusted to reflect
subsequent anti-dilution adjustments and the Stock Split) ranging from $0.353949
to $0.3570475 per share (the "2002 Warrants"). The Company paid the 10% Notes in
full on March 26, 2004.

     On March 29, 2005, one of the Warrant Holders exercised its 2002 Warrant to
purchase  an  aggregate  of 9,375  shares of the  Company's  common  stock  (the
"Underlying Common Stock").

     From May 21, 2004 through June 7, 2004,  the Company  completed the sale of
$1,200,000  aggregate  principal  amount  of its  10%  Participating  Notes  due
November  30,  2006  (the   "Participating   Notes").   The  purchasers  of  the
Participating  Notes also received  warrants to purchase an aggregate of 480,000
shares of the  Company's  common  stock at exercise  prices (as adjusted for the
Stock Split) ranging from $0.135 to $0.23 per share (the "2004  Warrants").  The
Company prepaid $240,000 of the Participating Notes on February 10, 2005.

     On March  3,  2005,  one of the 2004  Warrant  Holders  exercised  its 2004
Warrant to purchase  an  aggregate  of 20,000  shares of the  Underlying  Common
Stock.

     On March 31, 2005,  the Company  issued options to purchase an aggregate of
25,000  shares of the Company's  common stock at an exercise  price of $0.70 per
share (the "Options") to a non-employee, financial consultant of the Company.

     After  giving  effect to the  exercise  of the  29,375  shares  above,  the
Company's outstanding common shares increased to a total of 5,255,315 shares.

     On  March  31,  2005,  after  the  issuance  of  the  Options,   the  total
unregistered  equity securities sold by the Company exceeded 1% of the Company's
outstanding  shares of common stock,  thus triggering the reporting  requirement
set forth in Item 3.02 of Form 8-K.

     None of the Options, the 2002 Warrants, the 2004 Warrants or the Underlying
Common Stock issued in  connection  with the 2002  Warrants or the 2004 Warrants
are registered  under the  Securities  Act of 1933, as amended (the  "Securities
Act"). The Options,  the 2002 Warrants,  2004 Warrants and the Underlying Common
Stock were issued in reliance upon the exemption from  registration  provided by
Section 4(2) of the Securities Act for "transactions by the issuer not involving
a public offering," in transactions that fell within the safe harbor provided by
Rule 506 of Regulation D of the Securities Act.


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                           THE BEARD COMPANY

                                            /s/ Herb Mee, Jr.
                                           -------------------------------
                                           Herb Mee, Jr., President

April 1, 2005