Energy producer Harvest Natural Resources Inc. (NYSE: HNR) saw its share price cut nearly in half earlier today following a company filing with the U.S. Securities and Exchange Commission (SEC) this morning stating that the firm will not be able to file its Form 10-K annual report on time. A failed sale of the company’s Venezuelan assets to Indonesia’s Pertamina earlier this year sent the stock down 40% in one day, from over $9 a share to around $5.50.

In its filing Harvest provided a laundry list of problems related to its financial reporting:

• “[C]ertain errors related to our incorrect capitalization of certain lease maintenance costs”
• “[C]ertain internal selling, general and administrative costs”
• “[A]n error in the presentation of certain cash flow items”
• A determination “that certain long-lived assets have been impaired”
• “[C]ertain errors … that will require the company to revise and possibly restate its financial statements for certain periods in 2010, 2011, and 2012.

Harvest also said it expects to post a net loss of $9.6 million ($0.26 per share) for the 2012 fiscal year. Worst of all, the company’s auditors have said that the audit report “will include a going concern qualification.”

Shares are 34% at $3.61 in a previous range of $4.93 to $10.83.

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