8-K

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) October 16, 2006

THE BEARD COMPANY

(Exact name of registrant as specified in its charter)

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

Enterprise Plaza
5600 N. May Avenue
Suite 320
Oklahoma City, Oklahoma73112

(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 October 3, 2006, we announced that we had commenced a private debt placement of $700,000 of Series A 12% convertible subordinated notes (the “Series A Notes”) maturing on August 30, 2008, and also allowing holders of our outstanding $568,000 of Production Payments (the “Production Payment”) due on November 30, 2006 to tender their Production Payments in exchange for 12% convertible subordinated notes (the “Series B Notes”) maturing on November 30, 2008. We offered the Notes to provide the working capital to sustain our activities until the operations of our Pinnacle coal recovery plant in West Virginia and our China fertilizer plant are generating positive cash flow from operations.

On October 16, 2006, we accepted subscriptions for $284,000.01 of the Series B Notes and $14,666.66 of Series A Notes from three private investors. On October 17, 2006, we accepted subscriptions for $47,333.33 of the Series B Notes and $26,332.60 of Series A Notes from five private investors. On October 18, 2006, we accepted a subscription for $23,666.67 of the Series B Notes and $1,333.09 of Series A Notes from a private investor. On October 19, 2006, we accepted a subscription for $94,666.67 of the Series B Notes from a private investor. On October 20, 2006, we accepted a subscription for $23,666.67 of the Series B Notes from a private investor. On October 23, 2006, we accepted a subscription for $94,666.67 of the Series B Notes and $5,333.17 of the Series A Notes from a private investor. This sale brings the total of Series B Notes exchanged to $568,000.02 and the total of Series A Notes sold to date to $47,665.52, for a grand total of $615,665.54.

No commission will be paid on the exchange of the Series B Notes. A commission of $476.66 will be paid to the Placement Agent on the Series A Notes sold for cash by us. All of the Series A and Series B Notes sold or exchanged to date are convertible at a Conversion Price of $1.00 per share into our common stock.

The Series A and Series B Notes were issued relying 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 of 1933, as amended (the “4(2) Exemption”). When the Series A and Series B Notes are converted to our common stock the issuance of the common stock will be exempted from registration by Section 3(a)(9) of the Securities Act which provides an exemption for “securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.”

Item 7.01 Regulation FD Disclosure

On November 1, 2006 we and PinnOak Resources, LLC issued a joint press release announcing the start-up of the Beard Pinnacle, LLC pond recovery facility at the Pinnacle Mine complex located near Pineville, West Virginia. A copy of the press release is attached hereto as Exhibit 99.1.

On November 2, 2006 we issued a press release updating the progress to date in connection with our $1,268,000 note offering. To date all of our outstanding $568,000 of Production Payments have been exchanged for Series B Notes, and an additional $47,666 of Series A Notes have been sold for cash. A copy of the press release is attached hereto as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

The following exhibits are filed with this Form 8-K and are identified by the numbers indicated:

Exhibit No.	Description
99.1	Press Release dated November 1, 2006
99.2	Press Release dated November 2, 2006

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
November 3, 2006

INDEX TO EXHIBITS

Exhibit No.	Description	Method of Filing
99.1	Press Release dated November 1, 2006	Filed herewith electronically
99.2	Press Release dated November 2, 2006	Filed herewith electronically

EX-99.1

THE BEARD COMPANY Enterprise Plaza, Suite 320 5600 North May Avenue Oklahoma City, Oklahoma 73112 OTCBB: BRCO	601Technology Drive Suite 300 Canonsburg, PA 15317-9523

News Release
	For Immediate Release

Contacts for PinnOak:	Investor Relations Partners, Inc. Shellie Roth or Joanne Barbieri 973.535.8389 info@irpartners.com
Contact for The Beard Company:	Herb Mee, Jr., President 405.842.2333 hmee@beardco.com

PINNOAK RESOURCES AND THE BEARD COMPANY ANNOUNCE

START-UP OF INNOVATIVE FINE COAL RECOVERY PLANT IN WEST VIRGINIA

PITTSBURGH, PA and OKLAHOMA CITY, OK – November 1, 2006 – PinnOak Resources, LLC, and The Beard Company (OTCBB:BRCO) today jointly announced that the Beard Pinnacle, LLC pond recovery facility at the Pinnacle Mine complex located near Pineville, West Virginia, has successfully started operations.

The operation includes a plant with innovative technologies designed to recover fine coal that had previously been lost in processing during conventional coal preparation. The coal from the Pinnacle Mine is considered to be perhaps the highest quality metallurgical coal in North America. Beard Technologies, Inc., a subsidiary of The Beard Company, will operate the plant.

Herb Mee, Jr., president of The Beard Company, said: “During our start-up, all elements of the plant reached or exceeded their targeted performance levels. Testing is anticipated to continue for another two weeks, and all indications are that the plant will be capable of producing more than its rated tonnage of clean coal annually.”

Mee continued, “We appreciate the hard work and coordination it took to get to our operational status, and look forward to this profitable venture with the Pinnacle Mine.”

About The Companies

PinnOak Resources, LLC is a coal mining and energy resources supplier of premium quality metallurgical coal, which through its subsidiaries, operates two mining operations in Pineville, West Virginia and one near Birmingham, Alabama. PinnOak also supplies some steam coal and coal bed methane.

The Beard Company’s operations consist principally of coal reclamation activities, carbon dioxide (CO₂) gas production, the construction and operation of fertilizer plants in China, oil and gas production, and e-commerce activities aimed at developing business opportunities to leverage starpay™’s intellectual property portfolio of Internet payment methods and security technologies. Beard’s common stock is traded on the OTC Bulletin Board under the symbol: BRCO.

Safe Harbor Disclaimer: 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.

# # #

EX-99.2

THE BEARD COMPANY Enterprise Plaza, Suite 320 5600 North May Avenue Oklahoma City, Oklahoma 73112 (405) 842-2333 OTCBB: BRCO	News Release Herb Mee, Jr., President

THE BEARD COMPANY ISSUES

PROGRESS REPORT ON ITS

$1,268,000 CONVERTIBLE NOTE OFFERING

FOR IMMEDIATE RELEASE: Thursday, November 2, 2006

Oklahoma City, Oklahoma --- The Beard Company (OTCBB:BRCO) today reported that all of the holders of the Company’s outstanding $568,000 of Production Payments due November 30, 2006 (the “Production Payments”) have tendered their Production Payments in exchange for the Series B Notes, which will be due on November 30, 2008.

On October 4, 2006 we announced that we were offering up to $1,268,000 aggregate principal amount of 12% Convertible Subordinated Notes (the “Notes”) convertible into shares of our common stock. Two Series of Notes were being offered: $700,000 of Series A Notes due on August 30, 2008, and $568,000 of Series B Notes, described above, which were offered in exchange for the Production Payments. The Series A Notes are being sold for cash.

The initial closing under the offering occurred on October 16, 2006, when subscriptions for $284,000 of Series B Notes and $14,667 of Series A Notes were accepted. To date subscriptions for $568,000 of Series B Notes and $47,666 of Series A Notes have been accepted, for a total of $615,666. The Notes are convertible into shares of our common stock. All of the Notes issued to date have a conversion price of $1.00 per share.

Herb Mee, Jr., President, stated: “We are delighted that all of the Production Payments were exchanged. Postponing the payment of this obligation for two years has put us in a much stronger position. This is particularly true now that the Pinnacle Plant has come on stream and will be contributing positive cash flow going forward. We believe that the success of the Pinnacle Project will greatly enhance our credibility and enable us to bring to fruition a number of the other coal projects we have under development.”

The securities offered have not been and will not be registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold absent registration or an applicable exemption from the 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, oil and gas production, and its e-commerce activities aimed at developing business opportunities to leverage starpay™’s intellectual property portfolio of Internet payment methods and security technologies.

_____________

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 us. 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.

# # # # #

FOR FURTHER INFORMATION CONTACT: Herb Mee, Jr.

Fax Number (405) 842-9901 Email: hmee@beardco.com