"500 million Shares at a price that is not less than80% of the...

"500 million Shares at a price that is not less than
80% of the average market price for the shares on the ASX over the last 5 trading days on which sales in the
Shares were recorded before the date of the proposed issued"

5.8cps fits into that 80% if shares price was 7.25cps for the last 5 days.

Well if they hold at 7cps then picking up some at 5.8cps gives all us holders a freebe.

Counting our current expenditure 5m senegal + 3.2 G.B. seismic + 6m Drilling Kora + 3m converable note + 5m drilling G.B. = expenditures of 22.2m

that leaves only 10m cash from the current raising so most of the money is already spent.