Exhibit 99.4
 AUSTIN
3345 Bee Cave Road
Suite 201
Austin, Texas 78746 USA
Tel 512.732.9812
Fax 512.732.9816
    
    
    (LONQUIST & CO. LLC LOGO)
    
    
    HOUSTON
1001 McKinney
Suite 420
Houston, Texas 77002 USA
Tel 713.559.9950
Fax 713.559.9959
  
 Re:
    
    Ramshorn International Limited
1P Reserve Report
As of January 1, 2011
Cachicamo Concession
SEC Guideline Case
    Net to Ramshorn International LimitedProved
    
    Proved
    
    Total
    
    Total
    
    Total
    
    GrandSEC Guideline Case
    
    Producing
    
    Non-Producinga
    
    Undeveloped
    
    Provedb
    
    Probableb
    
    Possibleb
    
    TotalaEstimated Future Net Oil/Condensate, bbl
    
    
    572,050
    
    
    
    1,005,079
    
    
    
    429,176
    
    
    
    2,006,305
    
    
    
    0
    
    
    
    0
    
    
    
    2,006,305Estimated Future Net Gas, MMcf
    
    
    0.0
    
    
    
    0.0
    
    
    
    0.0
    
    
    
    0.0
    
    
    
    0
    
    
    
    0
    
    
    
    0.0Total Future
Gross Revenue, $
    
    
    44,742,230
    
    
    
    78,611,039
    
    
    
    33,567,480
    
    
    
    156,920,750
    
    
    
    0
    
    
    
    0
    
    
    
    156,920,750Estimated
Future Production Taxes, $
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0Estimated
Future Operating Expenses, $
    
    
    22,659,882
    
    
    
    45,614,617
    
    
    
    15,281,151
    
    
    
    83,555,651
    
    
    
    0
    
    
    
    0
    
    
    
    83,555,651Estimated
Future Capital Costs, $
    
    
    2,131,500
    
    
    
    3,783,500
    
    
    
    10,300,850
    
    
    
    16,215,850
    
    
    
    0
    
    
    
    0
    
    
    
    16,215,850Estimated
Future Net Revenue (FNR), $
    
    
    19,950,848
    
    
    
    29,212,932
    
    
    
    7,985,478
    
    
    
    57,149,258
    
    
    
    0
    
    
    
    0
    
    
    
    57,149,258Discounted
FNR at 10%, $
    
    
    19,719,379
    
    
    
    21,816,998
    
    
    
    5,356,843
    
    
    
    46,893,219
    
    
    
    0
    
    
    
    0
    
    
    
    46,893,219Discounted
FNR at 15%, $
    
    
    19,191,449
    
    
    
    19,378,090
    
    
    
    4,241,989
    
    
    
    42,811,527
    
    
    
    0
    
    
    
    0
    
    
    
    42,811,527Estimated Net Revenues by Year, $2011
    
    
    12,928,206
    
    
    
    6,976,905
    
    
    
    -7,031,666
    
    
    
    12,873,446
    
    
    
    0
    
    
    
    0
    
    
    
    12,873,4462012
    
    
    7,493,486
    
    
    
    5,130,822
    
    
    
    5,546,492
    
    
    
    18,170,801
    
    
    
    0
    
    
    
    0
    
    
    
    18,170,8012013
    
    
    1,327,892
    
    
    
    4,232,006
    
    
    
    3,975,900
    
    
    
    9,535,798
    
    
    
    0
    
    
    
    0
    
    
    
    9,535,798Subtotal
    
    
    21,749,584
    
    
    
    16,339,733
    
    
    
    2,490,726
    
    
    
    40,580,045
    
    
    
    0
    
    
    
    0
    
    
    
    40,580,045Thereafter
    
    
    -1,798,736
    
    
    
    12,873,199
    
    
    
    5,494,752
    
    
    
    16,569,213
    
    
    
    0
    
    
    
    0
    
    
    
    16,569,213Total
    
    
    19,950,848
    
    
    
    29,212,932
    
    
    
    7,985,478
    
    
    
    57,149,258
    
    
    
    0
    
    
    
    0
    
    
    
    57,149,258Estimated Average Net Prod. Rate - 2011Oil/Condensate, B/D
    
    
    821
    
    
    
    467
    
    
    
    117
    
    
    
    1,405
    
    
    
    0
    
    
    
    0
    
    
    
    1,405Gas, Mcf/D
    
    
    0.0
    
    
    
    0.0
    
    
    
    0.0
    
    
    
    0.0
    
    
    
    0
    
    
    
    0
    
    
    
    0.0
 
 a
    
    Column includes the Proved Developed Non-Producing, shut-in and behind-pipe
classificationsb
    
    Totals might not match detailed cash flow due to computer rounding




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Purpose of Report
  Standards of Practice
 Modernization of Oil and Gas Reporting;
Final Rule;
 Reserve Estimates
    Product Prices and Differentials




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Operating Costs and Expenditures
    Values Not Considered
  
    
    U.S. or Colombian Income Taxes
    
    Depreciation, depletion, and/or amortization, if any
    
    Costs in excess of revenues of uneconomic leases
    
    Environmental restoration costs, if any
    
    Product price hedges, if any
  Report Qualifications
   THE REVENUES AND PRESENT WORTH OF FUTURE NET REVENUES ARE NOT REPRESENTED TO BE MARKET VALUES
EITHER FOR THE INDIVIDUAL PROPERTIES OR IN A TOTAL PROPERTY BASIS.




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Data Sources
   Independent Evaluation
  Sincerely,LONQUIST & CO., LLC
Texas Registration No. F-895-s- Don E. Charbula, P.E.Don E. Charbula, P.E.
Vice President
Texas License No. 73435
    
    (STAMP)Date Signed: February 17, 2011Austin, Texas-s- Tereasa S. MontemayorTereasa S. MontemayorSr. Petroleum Engineer




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AREA OF INTEREST
RAMSHORN INTERNATIONAL LIMITED




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OIL AND GAS RESERVE DEFINITIONS
 The Securities and Exchange Commission, SX Reg. § 210.4-10 dated November 18,1981 as amended
September 19,1989 requires adherence to the following definitions of Proved oil and gas reserves:
 Definitions:
 (2) Proved oil and gas reserves.
 oil-water
   (3) Proved developed oil and gas reserves.
 (4) Proved undeveloped reserves.
 Amended SEC guidelines Reg. § 210.4-10 definitions (Modernization of Oil and Gas Reporting; Final
Rule; January 14, 2009):
 (17) Possible reserves.




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(18) Probable reserves.