White Energy Company Limited (ASX:WEC) slumped to the worst performing stock of the S&P/ASX 200 index, losing 88 per cent in the 2011 calendar year.
The coal company took a hit in November after warning its Indonesian joint venture partner plans to back out of their project.
Energy Resources of Australia Limited’s (ASX:ERA) share price tumbled 84 per cent over last year followed by BlueScope Steel Limited (ASX:BSL), dropping 79 per cent in value and Billabong International Limited (ASX:BBG), falling 78 per cent.
Over 2011 shares in Onesteel Limited (ASX:OST) lost 74 per cent and Paladin Energy Limited’s (ASX:PDN) share price shed 72 per cent.
White Energy Company finished last year at $0.38.
In the 2011 financial year White Energy Company booked a net loss of $18.8 million.