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THE BEARD COMPANY ANNOUNCES THIRD QUARTER RESULTS

 OKLAHOMA CITY, Nov. 15 /PRNewswire/ -- The Beard Company (AMEX: BOC) today reported its initial results as a public company. The company's revenues for the 1993 third quarter were $4.96 million, an 18 percent increase over the $4.22 million in revenues for the same quarter of 1992. Revenues for the first nine months of 1993 increased 14 percent to $10.53 million from $9.23 million a year ago.
 The current quarter produced a net profit of $101,000, or 4 cents per share, compared to a net loss of $225,000, or 8 cents per share, for the same quarter of 1992. The first nine months of 1993 produced a net loss of $541,000, or 20 cents per share, vs. a net loss of $1.66 million, or 62 cents per share last year.
 Herb Mee Jr., president, stated: "We are pleased with third quarter results, which break the long string of quarterly losses reported by Beard Oil, our public reporting entity prior to the Reorganization effected last month. However, since the third quarter is normally one of the company's better quarters due to seasonality, third quarter results should not be considered an indication of future operating results."
 The Beard Company's common stock is traded on the American Stock Exchange under the symbol BOC. Its operations consist principally of its carbon dioxide (CO 2) and dry ice (solid CO 2) activities, its real estate construction and development activities, its alternative fuel research and development activities, and its newly organized environmental services activities.
 THE BEARD COMPANY
 Statements of Operations
 (Unaudited)
 Periods ended Three months Nine Months
 Sept. 30 1993 1992 1993 1992
 Revenues $4,962,000 $4,222,000 $10,527,000 $ 9,227,000
 Expenses 4,867,000 4,287,000 10,951,000 10,420,000
 Operating profit
 (loss) 95,000 (65,000) (424,000) (1,193,000)
 Other income
 (expenses) 6,000 (160,000) (117,000) (464,000)
 Earnings (loss)
 before income
 taxes 101,000 (225,000) (541,000) (1,657,000)
 Income taxes --- --- --- ---
 Net earnings
 (loss) $ 101,000 $ (225,000) $ (541,000)$(1,657,000)
 Net earnings
 (loss) per common
 share $0.04 $(0.08) $(0.20) $(0.62)
 Weighted average
 number of shares
 outstanding(A) 2,652,000 2,652,000 2,652,000 2,652,000
 (A) Shares used for the computation of net earnings (loss) per share are based on current shares outstanding. Prior to Oct. 27, 1993, The Beard Company was a wholly owned subsidiary of Beard Oil Company.
 -0- 11/15/93
 /CONTACT: Herb Mee Jr., president of The Beard Company, 405-842-2333, or Cheryl M. Hudak, president of Cheryl Mayfield Hudak Communications, 405-848-3520, for The Beard Company/
 (BOC)


CO: The Beard Company ST: Oklahoma IN: SU: ERN

MJ -- PH017 -- 4354 11/15/93 11:22 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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