RE:FrustrationBeen here a very long time, and from my perspective, they have accomplished 2 things.
1) They took a high risk Kenya project to monetize it, by seeling half their stake and converting this into long term cah flow in Nigeria.
2) they made a conscious decision to transition from wildcatting to a more mature producing company. They backed this up with a change in mangement
Everything else moves at a glacial pace which does little more than lock in long term job security for management. On paper, the Venus transaction makes sense - theory on paper - but it should have (and should be) be sold. 5+ years from now it may start flowing significant cash flow. Like Nigeria though - a great deal resulting in no impact on market cap and an insignificant dividend.
It's a tough long term business, but we need someone actually focused on shareholder rewards rather than long term survival.