Harvest Natural Resources (HNR) disclosed in a regulatory filing that in connection with its preparation of financial statements for the fiscal year ended December 31, 2012, and following discussions with the audit committee of its board of directors and its auditors, the company is unable to file its Annual Report on Form 10-K within the prescribed time period "without unreasonable effort or expense." The company said discussions with the audit committee led it to conclude that there were certain errors related to incorrect capitalization of certain lease maintenance costs and certain internal selling, general and administrative costs. The company also identified an error in the presentation of certain cash flow items and determined that certain long-lived assets have been impaired. Also, certain errors were identified that will require the company to revise and possibly restate its financial statements for certain periods in 2010, 2011 and 2012. Harvest Natural said it is in the process of completing its evaluation of its internal controls over financial reporting and though such evaluation is not complete, the company has determined that a material weakness existed in its controls over the accuracy and presentation of its accounting for certain long-lived assets. Harvest anticipates its results of operations for 2012 will reflect a net loss attributable to Harvest of approximately $9.6M, or 26c per diluted share, compared with net income attributable to Harvest of $51.8M, or $1.32 diluted earnings per share, for 2011. The decrease in earnings attributable to Harvest of $61.4M was due primarily to a decrease in net income from discontinued operations of $99.3M, primarily resulting from the sale of its Utah assets, offset by a decrease in net operating expenses and other expenses of $37.9M. Harvest added: "Due to our liquidity position, our auditors have informed us that their opinion will include a going concern qualification." Shares of Harvest Natural plunged 47% to $2.89 in pre-market trading.