Sixteen-year-old Kudra Falla-Ricketts didn't realise how much of a stir her April Fools' prank had caused until she was hauled into her school principal's office.

Kudra, of Lismore, had emailed out a fake press release claiming that the gas drilling company Metgasco was pulling out of northern NSW. But in the tense atmosphere surrounding gas drilling, and with thousands attending anti-coal seam gas protests in parts of the state, Kudra's fake statement wasn't taken as a joke.

Prank turned legal minefield: Kudra Falla-Ricketts wrote a media release from Metgasco for April Fools’ Day. Credit:Mireille Merlet-Shaw

Metgasco chief executive Peter Henderson said Kudra's fake press release could have had a ''devastating'' effect on shareholders. Her prank has now been referred to the Australian Securities and Investments Commission.

Under corporations law, false or misleading statements can attract a maximum penalty of 10 years in jail, a $765,000 fine, or both.