EXHIBIT
99.1
 Huddleston
& Co., Inc.
 Petroleum
and Geological Engineers
  1 Houston
Center
  1221 McKinney,
Suite 3700
  Houston, Texas
77010
    PHONE (713)
209-1100  w  FAX
(713) 752-0828
    February 16,
2010
    Mr. Chris
      Sutherland
 VP Reservoir
      Engineering - ERT GOM
 Energy
      Resource Technology,
Inc.
 8201 Preston
      Road, Suite 750
 Dallas, Texas
75225
  Re:   SEC
Pricing Case
 Estimated Reserves and
Revenues
 As of January 1,
2010
  Dear Mr.
Sutherland:
  Pursuant to your
request, we have estimated oil, condensate, and natural gas reserves and
projected revenues for certain Proved properties that are owned by Energy
Resource Technology, Inc. (“ERT”).  The properties are located in
state and federal waters in the Gulf of Mexico.
  A summary of our
conclusions, as of January 1, 2010, follows:
  Net
      to Energy Resource Technology, Inc.Proved
      Development
                Proved
                TotalSEC Pricing Case
                Producing
                Nonproducing
                Shut-In
                Undeveloped
                Proved*Estimated
      Net Oil/Cond., bbl.
                5,526,000
                8,848,000
                476,000
                14,877,000
                29,727,000Estimated
      Net Gas, MMcf
                51,275.8
                47,283.6
                26,203.1
                262,552.2
                387,314.8Total
      Furture Gross Revenue, M$
                514,459
                704,487
                122,277
                1,825,083
                3,166,306Operating
      Expenses, M$
                282,710
                163,674
                3,744
                152,092
                602,220Severance
      & Ad Valorem Taxes, M$
                4,616
                3,728
                2,414
                5,412
                16,171Capital
      Costs, M$
                239,129
                60,718
                13,936
                441,943
                755,726Estimated
      Future Net Revenue ("FNR), M$
                (11,996)
                476,366
                102,183
                1,225,636
                1,792,189Discounted
      FNR at 10%, M$
                55,099
                401,363
                89,546
                741,767
                1,287,776Estimated Future Net Revenues by Year,
      M$2,010.0
                71,431
                179,176
                33,097
                (64,461)
                219,2412,011.0
                12,756
                163,505
                39,644
                104,165
                320,0702,012.0
                27,270
                57,592
                25,308
                234,200
                344,370Thereafter
                (123,453)
                76,093
                4,134
                951,732
                908,508Total
                (11,996)
                476,366
                102,183
                1,225,636
                1,792,189Estimated Future Net Production -
      2010Oil/Cond.,
      bbl
                1,872,000
                3,437,000
                155,000
                793,000
                6,257,000Gas,
      MMcf
                18,426.3
                10,179.5
                7,552.2
                1,930.8
                38,088.8
  *Numbers subject to
rounding.
   Huddleston &
Co., Inc.
 
 Mr. Chris
      Sutherland
 February 16,
2010
 Page
   Report
Preparation
  Purpose
of Report – The purpose of this report is to provide the management of
ERT with a projection of future reserves and revenues for an assessment of oil
and gas properties owned by ERT.  The Proved reserve and revenue
projections shown herein have been prepared in accordance with Securities and
Exchange Commission (“SEC”) requirements for reporting as described
below.
  Reporting
Requirements – SEC Regulation S-K, Item 102, and Regulation S-X, Rule
4-10, require oil and gas reserve information to be reported by publicly held
companies as supplemental financial data.  These regulations were
revised by the SEC effective for filings beginning January 1,
2010.  The revised regulations provide for certain changes in Proved
reserve definitions, add definitions for Probable and Possible reserves, and
require that revenues associated with Proved reserves be reported on the basis
of the average of the preceding 12-month, first-of-month product
prices.  Revenues are to be discounted at 10%, consistent with that
required in prior years.
  The Proved reserves
included herein under the “SEC Pricing Case“ have been prepared in accordance
with our understanding of the methodologies specified under SEC and Financial
Accounting Standards Board (“FASB”) guidelines.
  It is our
understanding that ERT has elected to exclude Probable and Possible reserve
volumes for public reporting purposes.
  Standards
of Practice –This report has been prepared in accordance with our
understanding of the Standards
Pertaining to the Estimating and Auditing of Oil and Gas Reserve
Information as issued by the Society of Petroleum Engineers (“SPE”) and
the Guidelines
for Application of the Definitions for Oil and Gas Reserves prepared by
the Society of Petroleum Evaluation Engineers (“SPEE”).
  Definitions for
reserves as outlined in SEC Regulation S-X, Rule 4-10 are included
herein.
  Cash
Flow Projections –The attached reserve and revenue projections have been
prepared on a calendar year basis with the first time period being January 1,
2010, through December 31, 2010.
  Reserve
Estimates
  The reserve
estimates for the Proved Developed Producing properties were based on the
extrapolation of historical production data where there was sufficient data to
indicate a performance trend.  Projections for Nonproducing, Shut-In,
and Undeveloped reserve assignments were based on volumetric estimates, analogy,
and extrapolation of production and pressure data.
  In some cases the
projections have been prepared with considerations for overall field production,
resulting in negative projections for certain properties.  In our
opinion, the projections shown herein properly reflect the expected
operations.  The projections for some properties include consideration
for both well and platform plugging and abandonment costs, resulting in negative
future revenues and discounted revenues.
  Reserve assignments
prepared on the basis of volumetric calculations and analogy will be subject to
a significantly greater degree of variation than those calculated on the basis
of sustained performance history.  Approximately 95.7% of the
discounted future net revenues are attributable to the Nonproducing, Shut-In,
and Undeveloped reserve categories.
  Huddleston &
Co., Inc.
 
 Product
Prices
  As we understand
the revised SEC regulations, oil and gas prices utilized to determine the
Standardized Measure of discounted cash flows should be based on the average of
the preceding 12-month, first-of-month product prices.  The estimated
revenues shown herein reflect the actual average of first-of-month prices
received by ERT on a property-by-property basis.  The projected prices
for both oil and gas were based on our understanding of the revised SEC
requirements.  It is noted that the pricing requirements vary
significantly from those previously required for reporting
purposes.
  Gas prices have
been adjusted to reflect the Btu content, transportation charges, third party
processing fees, and other fees specific to the individual
properties.  Oil prices have been adjusted to reflect wellhead
deductions and premiums on a property-by-property basis, including differentials
and crude quality.
  Product prices,
deductions, and premiums were held constant over the life of the
properties.
  Market prices for
both oil and gas continue to be subject to a substantial degree of variation as
a result of a variety of market and seasonal factors and actual future receipts
are therefore likely to vary significantly from the projections.  We
are unable to accurately project future markets; however, significant
fluctuations in market prices may materially affect our projections of both
future reserves and revenues.  The variations in product prices as
shown on the summary projections result from the net effect of computer
averaging of the aggregate of gross revenues and net revenues with varying rates
of decline.
  A comparison of the
average product prices, weighted as a composite for all properties over life,
follows:  (Gas prices have been adjusted for heating value and are
reported as dollars per Mcf.)
   SEC
Pricing
Case                                                        Oil/Cond.,
$/bbl                                               Gas,
$/Mcf
  2010                                                                          57.98 3.83
  Maximum                                                                          
60.82 3.83
  Average Over
Life                                                                  58.05    3.72
  Operating
Expenses, Taxes, and Capital Expenditures
  Monthly operating
expenses were provided by ERT and were scheduled on a field-by-field
basis.  Monthly operating expenses were allocated more heavily (in
most fields almost 100%) to the Proved Developed Producing reserve
classification.  Once the projected Proved Developed Producing
reserves depleted, monthly operating expenses were then allocated to the Proved
Shut-in and Nonproducing reserve classifications, and finally to the Proved
Undeveloped reserve classification.
  Severance taxes
were scheduled for each property in accordance with statutory rates, where
applicable.
  The total operating
expenses and direct taxes for the SEC pricing case in the amount of
$618.3 million represent approximately 19.5% of total future gross
revenues.
  The projections
shown for the offshore properties include provisions for abandonment expenses
and salvage revenues as estimated by ERT.  We have generally reviewed
these values and believe that they are consistent with the operations necessary
to abandon the subject facilities.
  Drilling,
completion, and remedial costs necessary to develop the estimated reserve
quantities have been projected in accordance with ERT
estimates.  Although we have generally reviewed these costs and
believe they are consistent with the proposed operations, we have not attempted
to verify these costs independently.
  Huddleston &
Co., Inc.
 
 Factors
Not Considered
  An attempt was made
to account for all deductions and additions to the estimated future gross
revenue except for the following:
  1.
              Federal
      income tax
 2.
              Depreciation,
      depletion, and amortization
 3.
              General and
      administrative expenses
 4.
              Nonproducing
      acreage
 5.
              Product price
      hedges, if any
  Report
Qualifications
  The estimated
future revenues are based on projections of recoverable hydrocarbons, rates of
production, proration by state and federal agencies, future product prices that
are subject to rapidly changing market conditions, operating costs, and direct
taxes.  Any unusual combination of variations in these factors could
result in future receipts considerably more or less than those estimated
herein.
  THE
ESTIMATED FUTURE NET REVENUES AND PRESENT WORTH OF FUTURE NET REVENUES ARE NOT
REPRESENTED AS MARKET VALUES FOR THE SUBJECT PROPERTIES.
  Estimates for
individual properties should be considered in context with the total or overall
estimated revenues.  The actual performance of individual properties
may vary considerably from the projections, particularly in comparison to the
total composite projections.  Small interest or low-income properties
that have little apparent value are not studied to the same extent as the more
significant properties.
  We have utilized
ERT documents as a basis for ownership, product prices, operating expenses,
abandonment expenses, salvage revenues, production statistics, and other factual
data necessary for our estimates.  We have generally tested the
validity of these data and believe the information to be correct.  We
express no opinions and make no representations as to legal or accounting
interpretations provided by ERT.  We did not inspect the properties or
conduct independent well tests and do not believe it to be necessary for the
purpose of this report.
  
 Respectfully
submitted,
  /S/ John P.
Krawtz
  John P. Krawtz,
P.E.
 Texas Registered
Engineering Firm F-1024
 JPK:klh
   Huddleston &
Co., Inc.