MEC Share plan and seismic

A new share isssue to pay for seismic ?I thought the last rights issue raised $600,000 to pay for seismic .What was that money used for ?
The last share issue was at 2.8 and now this issue is at a 20% discount .I thought the new board was going to stop shareholder dilution and now it looks like they are doing the opposite and diluting shareholders to raise money for the seimic all over again .
and whats this new investment objectives -it looks like this new board has given up on PEP11