geolucidate is a Python module for identifying and parsing geographic coordinates in text. For most purposes, calling replace() with the text to be processed will suffice.
>>> from geolucidate import replace
>>> replace("58147N/07720W")
u'<a href="http://maps.google.com/maps?q=58.235278%2C-77.333333+%2858147N%2F07720W%29&ll=58.235278%2C-77.333333&t=h" title="58147N/07720W (58.235278, -77.333333)">58147N/07720W</a>'