new broker recommendation ....buy

Found this on CGGs website from Petra Capital ,and its very comprehensive .Their valuation is 33c at the moment with lots of upside .
I posted earlier that the fuel costs are around 15c .
According to this broker report ,fuel costs are 10c a litre .
And another thing ,apart from 20% corporate tax ,low fuel costs and no income tax ,there are NO royalties .
All these thoings can seriously erode after tax profits ,and should be taken into consideration when comparing to other miners .