SemGroup Energy Partners continued its comeback from the bankruptcy of parent SemGroup LP with another sizable jump on the stock market Friday. Shares of the Tulsa-based oil and asphalt storage and transport company closed at $10.91 per unit on the Nasdaq Stock Market, up 11 percent from its Thursday close at $9.83.

The good news was marred, however, when Nasdaq staffers sent SGLP -- as it is known on the ticker -- a warning letter Thursday that the company was in violation of the index's audit committee rules.

Nasdaq requires three independent members on the company's audit committee, but SGLP had only two.

The deficiency started when two hedge funds, Manchester Securities and Alerian Capital Management, took board control after SemGroup LP defaulted on a $150 million loan from the two creditors, according reports. The two funds moved three members onto the board July 18.

The company has until next year to fix the deficiency.

SemGroup Energy Trading otherwise has not had a better closing since finishing at $11 per share July

17.

Its value that day dropped drastically from $22.72 as SemGroup LP's debt and cash flow crises became public knowledge as a futures broker.

Privately held SemGroup LP spun off SGLP into a publicly traded entity in July 2007. The public company gets most of its revenue from storage and transportation services for the parent operation.

The public company is not named as a debtor in SemGroup LP's bankruptcy case, and SGLP officials say they want to keep doing business by finding more third-party customers.

Some analysts contend that SGLP maintains a strong value because of its $262 million in assets, according to investor reports.

The company owns millions of barrels' worth of storage, pipeline capacity and terminal facilities, according to reports by senior energy analyst Jason Blaylock with Interwoven Capital.

Others, however, caution that the company has a hard road ahead because it must eventually replace the parent SemGroup's business.

SemGroup Energy Partners also has about $295 million in debt.

It is also the subject of several lawsuits.

The suits contend that the company violated securities laws and misled shareholders about the parent company's financial health in a stock offering earlier this year.

SemGroup LP collapsed after co-founder Tom Kivisto and other traders allegedly lost $2.4 billion of the company's money in failed hedging attempts on the oil futures market.