Answer
See image:
Work Step by Step
Level curves have the form:
$\ln(x^{2}+4y^{2})=k$
$x^{2}+4y^{2}=e^{k}$
Graphing,
$4y^{2}=e^{k}-x^{2}$
$y^{2}=\displaystyle \frac{e^{k}-x^{2}}{2}$
$y=\pm\sqrt{\frac{e^{k}-x^{2}}{2}}$
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