The Beard Company Announces 2004 Results; Reports Drilling of Four More Wells in Colorado OKLAHOMA CITY, March 30 /PRNewswire-FirstCall/ -- The Beard Company (OTC:BRCO) (BULLETIN BOARD: BRCO) today announced its financial results for 2004. The Company reported net earnings of $937,000, or $0.18 per share, on revenues of $972,000, compared with a net loss of $1,611,000, or $0.35 per share, on revenues of $593,000 in 2003. Diluted earnings per common share were $0.14 in 2004 versus a net loss of $0.35 per share in 2003. Herb Mee, Jr., President, stated: "As previously reported, 2004 results benefited from a $2,943,000 gain on the McElmo Dome Settlement. 2003 benefited from a similar gain in the amount of $1,151,000. Such amounts were reflected in other income for the respective periods. We had no gain or loss from discontinued operations in 2004, whereas 2003 results were impacted by a $121,000 loss from discontinued operations." "We are also pleased to report that four more wells have been drilled by Vista Resources on the acreage we farmed out to them in Section 36, Township 3 North, Range 48 West, in Yuma County, Colorado. Vista set pipe on four additional wells in February and March of 2005 which they are preparing to complete in the Niobrara Formation. We have a 22.5% working interest in these wells which Vista expects to complete and test next month."(A) 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, and its e-commerce activities aimed at developing business opportunities to leverage starpay(TM)'s intellectual property portfolio of Internet payment methods and security technologies. THE BEARD COMPANY Statements of Operations For the Three Months For the Year Ended December 31, Ended December 31, (Unaudited) (Audited) 2004 2003 2004 2003 Revenues $350,000 $145,000 $972,000 $593,000 Expenses 849,000 806,000 2,672,000 2,731,000 Operating loss (499,000) (661,000) (1,700,000) (2,138,000) Other income (expense) (66,000) 37,000 2,755,000 648,000 Loss before income taxes (565,000) (624,000) 1,055,000 (1,490,000) Income tax benefit (expense) 18,000 --- (118,000) --- Earnings (loss) from continuing operations (547,000) (624,000) 937,000 (1,490,000) Loss from discontinued operations (4,000) (108,000) --- (121,000) Net earnings (loss) ($551,000) ($732,000) $937,000 ($1,611,000) Net earnings (loss) per average common share outstanding: Basic(B): Earnings (loss) from continuing operations $(0.10) $(0.13) $0.18 $(0.33) Loss from discontinued operations $(0.00) $(0.02) $--- $(0.02) Net earnings (loss) $(0.10) $(0.15) $0.18 $(0.35) Diluted(B): Earnings (loss) from continuing operations $(0.10) $(0.13) $0.14 $(0.33) Loss from discontinued operations $(0.00) $(0.02) $--- $(0.02) Net earnings (loss) $(0.10) $(0.15) $0.14 $(0.35) Weighted average common shares outstanding - Basic 5,498,000 4,720,000 5,215,000 4,542,000 Diluted 5,498,000 4,720,000 6,478,000 4,542,000 (A) 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 The Beard Company's filings with the Securities and Exchange Commission. The Beard Company assumes no duty to update or revise its forward-looking statements based on changes in internal estimates or otherwise. (B) Basic earnings (loss) per share are computed by dividing earnings (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share reflect the potential dilution that could occur if the Company's outstanding stock options and warrants were exercised (calculated using the treasury stock method) and if the Company's preferred stock were converted to common stock. FOR FURTHER INFORMATION CONTACT: Herb Mee, Jr., President THE BEARD COMPANY e-mail: Telephone: (405) 842-2333 Fax: (405) 842-9901 DATASOURCE: The Beard Company CONTACT: Herb Mee, Jr., President of The Beard Company, +1-405-842-2333, or fax, +1-405-842-9901, or

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