I've been expecting a capital raising at about 10c since they...

I've been expecting a capital raising at about 10c since they had the placement at 5c anyway. just wondering about what massive dilution that apparently happened this year and thus devalues our shares as a coule of posters here have said.
This is all last year's stuff, but considering how much oil they may be sitting on, i think that the deals with tacnas & entec rather add value.
IMO it was also quite a good move to only have a cap raising for 2.4m @5c and another one at higher prices.
Just wondering if I missed something important.