Falcon Oil and Gas Ltd.

Hey soly....what's your take on this, my math suggests 4.896 = 2%, implied value would be $ 244,800,000. Old FO value = 73% of implied value = 178,704,000.00. 550,000,000 Old FO shares issued. 178,704,000 divided by 550,000,000 = .324916 per share of old FO.???????? Am I missing something?

Thanks....spazz