The Popular Democratic Movement (PDM) says it opposes the National Petroleum Corporation of Namibia's (NAMCOR) plan to sell its stake in an ongoing-oil exploration project. PDM lawmaker, Jan van Wyk says selling the 5% stake to Recon Africa for N$414-million is imprudent. PDM's Mines and Energy shadow minister says it will amount to selling off Namibian resources to foreign companies. Van Wyk says the transaction is premature and a sign of irresponsible management of Namibia's natural resources. He says Namibians will not benefit from selling the stake and the Government should end all negotiations towards the sale. The lawmaker says PDM will not support a transaction that he alleges will benefit foreign companies and a select few elites. He was responding to NAMCOR's recent announcement that it will sell half the 10% stake in ReconAfrica's Kavango Basin exploration.