SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* WILLIAM M LU BEARD 1998 CHARITABLE UNITRUST (Last) (First) (Middle) 5600 N. MAY AVENUE, SUITE 320 (Street) OKLAHOMA CITY, OK 73112 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BEARD CO /OK [ BRCO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) Trustee Subject to Rule 16
	3. Date of Earliest Transaction (Month/Day/Year) 09/01/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.001333 par value								240,779	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrants(1)	$1	09/01/2003		J		4,500		09/01/2003	08/31/2008	Common Stock, $.001333 par value	4,500	$0	4,500	D
Common Stock Warrants(2)	$1							12/01/2002	11/30/2007	Common Stock, $.001333 par value	6,000		6,000	D
Common Stock Warrants(3)	$1							03/01/2003	02/29/2008	Common Stock, $.001333 par value	6,000		6,000	D
Common Stock Warrants(4)	$1							06/01/2003	05/31/2008	Common Stock, $.001333 par value	6,000		6,000	D

Explanation of Responses:

1. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 4,500 Warrants as of September 1, 2003 as a result of holding the Notes more than fifteen months. No consideration was paid for the Warrants

2. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,000 Warrants as of December 1, 2002, as a result of holding the Notes more than six months. No consideration was paid for the Warrants.

3. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,0000 Warrants as of March 1, 2003 as a result of holding the Notes more than nine months. No consideration was paid for the Warrants.

4. On May 31, 2002, the Charitable Unitrust purchased $120,000 of the Company's 10% Subordinated Notes, together with a contingent right to receive Warrants to purchase up to 24,000 shares of the Company's common stock, depending on the holding period of the Notes. The Charitable Unitrust received 6,000 Warrants as of June 1, 2003 as a result of holding the Notes more than twelve months. No consideration was paid for the Warrants

Remarks:

	By: Rebecca G. Witcher	09/02/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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