**Subsidiaries**

**of the Registrant (6)**

 

The following is a list of the Company's consolidated subsidiaries as of December 31, 2007:

 

| **Subsidiary**                                             | **State or Country of****Organization** | **Percent of Voting****Securities Owned** |
|------------------------------------------------------------|-----------------------------------------|-------------------------------------------|
|                                                       |                                    |                                      |
| The Beard Company (1)                                      | Oklahoma                                | Registrant                                |
| Advanced Internet Technologies, L.L.C. (2)                 | Oklahoma                                | 71%                                       |
| Beard Environmental Engineering, L.L.C. (3)                | Oklahoma                                | 100%                                      |
| Beard Oil Company                                          | Delaware                                | 100%                                      |
| Beard Sino-American Resources Co., Inc.                    | Oklahoma                                | 100%                                      |
| Beard Technologies, Inc. (4)                               | Oklahoma                                | 100%                                      |
| BEE/7HBF, LLC (5)                                          | Oklahoma                                | 50%                                       |
| Beijing Beard Sino-American Bio-Tech Engineering Co., Ltd. | China                                   | 100%                                      |
| starpay. com, l.l.c.                                       | Oklahoma                                | 71%                                       |
| Xianghe BH Fertilizer Co., Ltd.                            | China                                   | 50%                                       |

 

| (1) | The consolidated financial statements of the Company include accounts of Registrant and the subsidiaries controlled by the Registrant.                                                                                                       |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Owns 100% of starpay. com, l.l.c.                                                                                                                                                                                                            |
| (3) | Owns 100% of Beijing Beard Sino-American Bio-Tech Engineering Co., Ltd. and Beard Sino-American Resources Co., Inc. and 50% of BEE/7HBF, LLC.                                                                                                |
| (4) | Owns 100% of Beard Pinnacle, LLC.                                                                                                                                                                                                            |
| (5) | Owns 100% of Xianghe BH Fertilizer Co., Ltd.                                                                                                                                                                                                 |
| (6) | Excludes those subsidiaries treated as equity investments, and those subsidiaries which, considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary as of the end of the year covered by this report. |