SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________________________________________________________________
SCHEDULE 13G
Information Statement pursuant to Rule 13d-1 and 13d-2
(AMENDMENT NO. 2)
The Beard Company
______________________________________________
(NAME OF ISSUER)
COMMON STOCK
______________________________________________
(TITLE OF CLASS OF SECURITIES)
07384R101
______________________________________________
(CUSIP NUMBER)
______________________________________________________________________________
Check the following box if a fee is being paid with this statement: ___: (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
* 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 (`Act') 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).
1. NAME OF REPORTING PERSON
The Beard Group 401(k) Plan
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (A) [ ]
(B) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Oklahoma
- ------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER - 0 -
SHARES
BENEFICIALLY ---------------------------------------------------
OWNED 6. SHARED VOTING POWER 301,605
AS OF
December 31, 1996 ---------------------------------------------------
BY EACH 7. SOLE DISPOSITIVE POWER - 0 -
REPORTING
PERSON ---------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER 301,605
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
301,605
(Not to be construed as an admission of beneficial ownership)
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
[ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.8%
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON *
EP
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Item 1 (a) Name of Issuer:
---------------
THE BEARD COMPANY
Item 1 (b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
5600 North May
Oklahoma City, Oklahoma 73112
Item 2 (a) Name of Person Filing:
----------------------
The Beard Group 401(k) Plan
Item 2 (b) Address of Principal Business Office:
-------------------------------------
100 North Broadway Avenue
Oklahoma City, Oklahoma 73102
Item 2 (c) Citizenship:
------------
Oklahoma
Item 2 (d) Title of Class of Securities:
-----------------------------
Common Stock, par value $.001
Item 2 (e) CUSIP Number:
--------------------
07384R101
Item 3 Type of Reporting Person:
-------------------------
Not Applicable
Item 4 Ownership as of December 31, 1996:
----------------------------------
(a) Amount Beneficially Owned:
--------------------------
301,605 shares
(b) Percent of Class:
-----------------
10.8%
(c) Deemed Voting Power and Disposition Power:
------------------------------------------
(i) sole power to vote or to direct the vote - 0 -
(ii) shared power to vote or to direct the vote 301,605
(iii) sole power to dispose or to direct the disposition of - 0 -
(iv) shared power to dispose or to direct the disposition of 301,605
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:
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Participants in THE BEARD GROUP 401(k) PLAN have the right to
direct the receipt of dividends from, and all proceeds of sale
of, shares of Common Stock in accordance with the terms of the
Plan, and in accordance with applicable law.
Item 7 Identification and Classification of the Subsidiary which
acquired the Security Being Reported on by the Parent Holding
Company:
----------------------------------------------------------------
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 in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, compete and correct.
Date: February 13, 1997
Signatures: THE BEARD GROUP 401(k) PLAN
By: The Liberty Bank and Trust
Company of Oklahoma City,
N.A., Trustee
By: /s/ C. A. Hartwig
Title: Senior Vice President
ACKNOWLEDGMENT - 1996 SCHEDULE 13G
I, C. A. Hartwig, do hereby acknowledge and adopt my signature as typed on
the Schedule 13G, Amendment No. 2, filed electronically with the Securities and
Exchange Commission on behalf of The Beard Group 401(k) Plan, as required by 17
C.F.R. subsection 232.302(b), on this 13th day of February, 1997.
/s/ C. A. Hartwig
-----------------
C. A. Hartwig
