ReconAfrica continues to face negative publicity from civil society groups
Breadcrumb
A Canadian oil and gas exploration company, ReconAfrica, continues to face negative publicity from civil society groups regarding its drilling activities in the Kavango Basin.
Among the allegations, the Economic and Social Justice Trust (ESJT) includes the company's failure to find the oil it promised, as evidence shows there was never any realistic prospect of finding the oil.
It is also accusing ReconAfrica of publishing positive prospecting reports to inflate the share price so that insiders could sell their shares at exorbitant prices.