Beard Subsidiary Purchases the Dilworth Field in Kay County, Oklahoma

OKLAHOMA CITY, April 20 /PRNewswire-FirstCall/ -- The Beard Company (OTC
Bulletin Board: BRCO) today announced that Beard Dilworth, LLC ("BDLLC"), a
subsidiary of the Company, has purchased the properties comprising the
Dilworth Field in Kay County, Oklahoma, for a total consideration of
$1,695,000.

Herb Mee, Jr., President of The Beard Company, reported that a Company
subsidiary, Beard Dilworth, LLC, closed on the purchase of the Dilworth Field
on April 17, 2009. The properties purchased are situated in Sections 17, 18
and 20, Township 28 North, Range 1 East in Kay County, Oklahoma.

It has been estimated that the Dilworth Field has produced more than 70
million barrels of oil since the discovery well was completed in 1910. A
reservoir study by one of America's most highly respected engineering firms
has estimated that the Field should be capable of producing an additional 3.4
to 4.4 million barrels of recoverable oil from the Arbuckle Formation by
utilizing high volume extraction ("HVE") technology. BDLLC's targeted rate of
fluid recovery for the project is approximately 220,000 barrels of fluid per
day with an anticipated hydrocarbon yield of 1% to 2%.

BDLLC is currently in the process of raising $7,000,000 from private investors
to finance the purchase of the Dilworth Field and complete its contemplated
development program. Those investors who contribute the initial $2,000,000 of
capital to BDLLC will receive a 3.5-to-1 return ($7,000,000) before payout
("BPO"); the investors contributing the next $5,000,000 will receive a 3-to-1
return ($15,000,000) BPO. After payout ("APO") of the $22,000,000, the
investor group will own 40% of BDLLC, the Company will own 10%*, and
Subsurface Minerals Group LLC ("SMG"), the former owner (which has
approximately $10,000,000 invested in the Dilworth Field), will back in for
50%.

*The Company will actually own a 10% interest BPO by virtue of its $700,000
capital contribution to BDLLC, and 14% APO as a result of its 10% back-in plus
its 4% APO interest on its $700,000 investment.

Under the contemplated development program, BDLLC plans to drill five shallow
wells to test several upper zones in the Field that it believes will be
productive. It then plans to purchase two disposal wells already in place in
the field that were not part of its initial purchase, drill two large-bore
production wells and one additional disposal well, and start injecting water
into the Arbuckle Formation. If, as anticipated, BDLLC achieves or exceeds
its targeted injection and recovery rates, it estimates that the $22,000,000
payout will occur during 2010 based upon an oil price of approximately $50 per
barrel.

"Now that BDLLC has purchased the field, we expect to move forward quickly to
raise the remaining $5,275,000 needed to complete the contemplated development
program," noted Mee.

"Both Bill Beard and I believe that the Dilworth Field is the best, and has
the most upside potential relative to the investment required, of any oil deal
we've ever seen. The primary reason we sold McElmo Dome was to provide the
funds to increase our interest in the Dilworth Field, where we believe there
is an opportunity for a far greater return on our investment. We believe that
the purchase and development of the Dilworth Field will play a key near-term
role in the major turnaround that is underway at our Company, and a fitting
adjunct to the longer-term potential we believe exists in our Geohedral
investment."

About The Beard Company
The Beard Company creates, acquires, and/or invests in businesses that
management believes have high growth and/or above-average profit potential and
can enhance shareholder value. The Company will from now on be involved in
oil and gas activities; coal reclamation activities; e-commerce activities
conducted through its starpay(TM) subsidiary; and minerals exploration and
development through its Geohedral investment.

The Company is headquartered in Oklahoma City and its common stock trades on
the OTC Bulletin Board under the symbol "BRCO".

Forward-Looking Statements
This document may include statements that constitute "forward-looking"
statements, usually containing the words "believe", "estimate", "project",
"expect", "anticipate", or similar expressions. Forward-looking statements
inherently involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements. Factors that could
cause or contribute to such differences include, but are not limited to, the
ability to negotiate and execute contracts in connection with the Company's
coal reclamation activities; the outcome of a lawsuit against Visa; future
trends in commodities prices; financial, geological or mechanical difficulties
affecting Beard Dilworth's or Geohedral's planned geological work programs;
uncertainties surrounding estimates of mineralized material; and other risks
associated with the Company's business. By making these forward-looking
statements, Beard undertakes no obligation to update these statements for
revisions or changes in the future.

For Additional Information, Please Contact:
Herb Mee, Jr., President, at (405) 842-2333 or via email at
hmee@beardco.com
or
RJ Falkner & Company, Inc., Investor Relations Counsel, at (800) 377-9893
or via email at info@rjfalkner.com

SOURCE The Beard Company

Herb Mee, Jr., President of The Beard Company, +1-405-842-2333,
hmee@beardco.com; or RJ Falkner & Company, Inc., Investor Relations Counsel,
1-800-377-9893, info@rjfalkner.com