Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOWARD MICHAEL PAUL
   2. Issuer Name and Ticker or Trading Symbol
WEBCO INDUSTRIES INC [WEB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr VP - Fin and Adm / CFO
(Last)
(First)
(Middle)
9101 W. 21ST STREET9101 W. 21ST STREET		 3. Date of Earliest Transaction (Month/Day/Year)
12/21/2004
(Street)

SAND SPRINGS, OK 74063		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, Par $.01 12/21/2004 12/21/2004 X   6,000 A $ 4 41,368 D  
Common Stock, Par $.01 12/21/2004 12/21/2004 X   4,000 A $ 3.4 45,368 D  
Common Stock, Par $.01 12/21/2004 12/21/2004 F   2,859 D $ 13.15 42,509 D  
Common Stock, Par $.01 12/21/2004 12/21/2004 D   5,000 D $ 12.4 37,509 D  
Common Stock, Par $.01               11,814.46 I 401(k) (1)
Common Stock, Par $.01               8,360 I IRA
Common Stock, Par $.01               4,400 I Spouse IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option - Right to Buy $ 4 12/21/2004 12/21/2004 X     6,000 09/29/2004 09/29/2009 Common Stock, Par $.01 6,000 $ 4 0 D  
Stock Option - Right to Buy $ 3.4 12/21/2004 12/21/2004 X     4,000 09/26/2004 09/26/2012 Common Stock, Par $.01 4,000 $ 3.4 6,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOWARD MICHAEL PAUL
9101 W. 21ST STREET9101 W. 21ST STREET
SAND SPRINGS, OK 74063		       Sr VP - Fin and Adm / CFO  

Signatures

 /s/ Michael P. Howard   12/27/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents an allocation of shares held in a common trust fund within the 401(k) plan. The number of shares does not represent specific Company stock held in an account for the benefit of the reporting person. As a result of changes in the respective levels of stock and cash in the fund, the number of shares will fluctuate over time independent of additional deposits or withdrawls to the fund.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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