A Kazakhstan-focused oil junior which had a 70-fold share price spike last April has been warned by its auditor it may struggle to meet financial obligations.
Shares in oil junior Jupiter Energy halved today after the company blamed day traders and social media activity for a 100-fold lift in its share price in late April, during which its chairman sold all his stock.
Jupiter Energy chief executive Geoff Gander sold all of his stock in the West Perth-based, Kazakhstan-focussed oil junior last week after a surprise 70-fold surge in the company's share price.
Shares in a West Perth-based oil producer with operations in Kazakhstan have increased 70-fold this week, despite the company shutting down production and the collapse in global oil markets, leading to an ASX intervention.
Iconic Western Australian reticulation and water solutions brand Hugall & Hoile Ltd faces a difficult 2006 in the wake of a number of factors that have adversely impacted the performance of the business.
