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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 7)*

The Beard Company

(Name of Issuer)

Common Stock

(Title of Class of Securities)

07384R408

(Cusip Number)

12/31/03

(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).

13G
CUSIP No. 07384R408					Page 2 of 6
	1.	Name of Reporting Person: The Beard Group 401(k) Plan			I.R.S. Identification Nos. of above persons (entities only): I.R.S No. 73-1284770
	2.	Check the Appropriate Box if a Member of a Group:
		(a)	o
		(b)	o
	3.	SEC Use Only:
	4.	Citizenship or Place of Organization: Oklahoma
Number of Shares Beneficially Owned by Each Reporting Person With
			5.	Sole Voting Power: 0
			6.	Shared Voting Power: 200,278
			7.	Sole Dispositive Power: 0
			8.	Shared Dispositive Power: 200,278
	9.	Aggregate Amount Beneficially Owned by Each Reporting Person: 200,278
	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares: o
	11.	Percent of Class Represented by Amount in Row (9): 8.1%
	12.	Type of Reporting Person: EP

2

Item 1.	(a)	Name of Issuer The Beard Company
	(b)	Address of Issuer’s Principal Executive Offices
		5600 N. May, Suite 320 Oklahoma City, OK 73112
Item 2.	(a)	Name of Person Filing The Beard Group 401(k) Plan
	(b)	Address of Principal Business Office or, if none, Residence
		5600 N. May, Suite 320 Oklahoma City, OK 73112
	(c)	Citizenship Oklahoma
	(d)	Title of Class of Securities COMMON STOCK
	(e)	CUSIP Number  07384R408
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)	o	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o)
(b)	o	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)
(c)	o	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c)
(d)	o	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8)
(e)	o	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	x	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	o	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	o	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	o	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-3);
(j)	o	Group, in accordance with § 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: 200,278

(b) Percent of class: 8.1%.

(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 200,278

(iii) Sole power to dispose or to direct the disposition of 0

(iv) Shared power to dispose or to direct the disposition of 200,278

Instruction. For computations regarding securities which represent a right to acquire an underlying security see § 240.13d3(d)(1).

Item 5.	Ownership of Five Percent or Less of a Class
	NOT APPLICABLE

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.

February 17, 2004	THE BEARD GROUP 401(k) PLAN
	By: Investrust, N.A., Trustee
	/s/ C.A. Hartwig Vice President