Anglo Eastern Plantations (AEP) is seemingly the cheapest of the Indonesian operations. At 680p it is capitalised at £270m but boasts cash of £100mm+ whilst enjoying total net tangible assets of £400m. There is no debt. EPS is of the order 130p and rising. All this is ridiculously cheap.
*****
Rockhopper (RKH) seems to be winning its battle with the Italian government – or so I judge from today’s RNS. RKH is now 15p or better to buy. Time to hoover up.