UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

SCHEDULE 13G

Information Statement pursuant to Rule 13d-1 and 13d-2

Under the Securities Exchange Act of 1934

(Amendment No. 11)

The Beard Company

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(Name of Issuer)

Common Stock

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(Title of Class of Securities)

07384R408

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(CUSIP Number)

12/31/08

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(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed.

x   Rule 13d-1(b)

o   Rule 13d-1(c)

o   Rule 13d-1(d)

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the notes).

CUSIP NO.  07384R408

1) Names of Reporting Persons I.R.S. Identification Nos. of

above persons (entities only):

The Beard Group 401(k) Plan I.R.S. No. 73-1284770

2) Check the Appropriate Box if a

Member of a Group (a) [__]

(See Instructions) (b) [__]

3) SEC Use Only

4) Citizenship or Place of

Organization OKLAHOMA

Number of Shares (5) Sole Voting Power 0

Beneficially (6) Shared Voting Power 338,004

Owned by (7) Sole Dispositive Power 0

Each Reporting (8) Shared Dispositive Power 338,004

Person with

9) Aggregate Amount Beneficially

Owned by Each Reporting Person 338,004

10) Check if the Aggregate Amount

in Row (9) Excludes Certain

Shares (See Instructions) [__]

11) Percent of Class Represented

By Amount in Row 9 3.44%

12) Type of Reporting Person EP

Item 1.   (a) Name of Issuer:  The Beard Company

(b) Address of Issuer's Principal Executive Offices

Harvey Parkway, 301 N.W. 63^rd, Ste 400

Oklahoma City, OK 73116

Item 2.   (a) Name of Person Filing:  The Beard Group 401(k) Plan

(b) Address of Principal Business Office or, if none, Residence

Harvey Parkway, 301 N.W. 63^rd, Ste 400

Oklahoma City, OK 73116

(c) Citizenship:  Oklahoma

(d) Title of Class of Securities:  COMMON STOCK

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(e) CUSIP Number  07384R408

Item 3.  If this statement is filed pursuant to Section 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)      [_] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o)

(b)      [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)

(c)      [_] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c)

(d)      [_] Investment company registered under section 7 of the Investment Company Act of 1940 (15 U.S.C. 80a-8)

(e)      [_] An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E)

(f)      x An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F)

(g)      [_] A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G)

(h)      [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813)

(i)      [_] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-33)

(j)      [_] Group, in accordance with section 240.13d-1(b)(1)(ii)(J)

Item 4.  Ownership.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned: 338,004

(b) Percent of class: 3.44%

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote: 0

(ii) Shared power to vote or to direct the vote 338,004

(iii) Sole power to dispose or to direct the

disposition of 0

(iv) Shared power to dispose or to direct the

disposition of 338,004

Item 5.  Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following x.

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Item 6.  Ownership of More than Five percent on Behalf of Another Person.

NOT APPLICABLE

Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

NOT APPLICABLE

Item 8.  Identification and Classification of Members of the Group.

NOT APPLICABLE

Item 9.  Notice of Dissolution of Group.

NOT APPLICABLE

Item 10. Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 10, 2009 THE BEARD GROUP 401(k) PLAN

By:  INVESTRUST, N.A., Trustee

C.A. HARTWIG

C.A. Hartwig, Vice President

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