Mines and Energy Minister, Tom Alweendo, has refuted allegations that the National Petroleum Corporation of Namibia (NAMCOR) has sold off the country's resources to a foreign company by offering a sale of 5 %f its shares to ReconAfrica. Defending the move, Alweendo insisted that Namcor's move was a rather one to avoid losing money should the exploration end up without discovering oil. He was responding to questions by UPM MP, Jan Van Wyk in the National Assembly.