The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Annuity &Life Re (hldgs) Ltd C Common ZZE6C3HI1 12,496 2,470,066 SH   SOLE   2,475,066 0 0
Chevrontexaco Corp Common 166764100 252 2,400 SH   SOLE   2,400 0 0
China Housing and Land Develop Common 16939V103 1,752 969,292 SH   SOLE   4,865,450 0 0
China Housing and Land Develop Common 16939V103 258 141,806 SH   OTR 1 0 0 717,518
China Pharma Hldgs Inc Com Common 16941T104 716 2,104,826 SH   SOLE   2,104,826 0 0
China Ritar Power Corp Common 169423100 3,124 8,218,326 SH   SOLE   8,220,201 0 0
China Ritar Power Corp Common 169423100 216 561,449 SH   OTR 1 0 0 569,249
China Sky One Med Inc Com Common 16941P102 0 1,164,422 SH   SOLE   1,164,422 0 0
China Yida Hldg Co Com New Common 16945D303 1,775 924,514 SH   SOLE   924,514 0 0
Conocophillips Nfs Llc Is Common 20825C104 7,089 104,797 SH   SOLE   113,868 0 0
Conocophillips Nfs Llc Is Common 20825C104 1,144 16,781 SH   OTR 1 0 0 18,380
DNB Nor Asa Ord Shs Common R1640U124 31,720 1,852,249 SH   SOLE   1,970,999 0 0
DNB Nor Asa Ord Shs Common R1640U124 4,365 251,100 SH   OTR 1 0 0 271,200
Exxon Mobil Corporation Common 30231G102 298 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 4,975 114,770,099 SH   SOLE   113,733,299 0 0
Full Apex Holdings Ltd Shs Common G3687W106 834 18,421,100 SH   OTR 1 0 0 19,056,100
Guangdong Nan Yue Logistics Co Common Y2930Z106 10,157 7,008,254 SH   SOLE   12,362,415 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 1,792 917,334 SH   OTR 1 0 0 2,180,673
Helgeland Sparebank Nok50 Grun Common R3099U100 4,639 624,041 SH   SOLE   661,641 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 689 88,700 SH   OTR 1 0 0 98,300
Jiangbo Pharmaceuticals Inc Common 47737R101 19 744,696 SH   SOLE   744,696 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 6,035 53,150,545 SH   SOLE   53,410,545 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 1,477 12,989,000 SH   OTR 1 0 0 13,069,000
Liandi Clean Technology Inc Co Common 52989W105 548 2,742,093 SH   SOLE   2,742,093 0 0
MMR Information Sys Inc Com Common 553101106 1 214,497 SH   SOLE   214,497 0 0
Regal Petroleum Plc Shs Common G7476L106 1,540 21,512,684 SH   SOLE   21,843,699 0 0
Regal Petroleum Plc Shs Common G7476L106 202 2,830,437 SH   OTR 1 0 0 2,857,937
Sandnes Sparebank Primary Ca Common R74676108 333 26,817 SH   SOLE   26,817 0 0
Sandnes Sparebank Primary Ca Common R74676108 47 3,800 SH   OTR 1 0 0 3,800
Shengtai Pharmaceutical Inc Common 823214200 359 1,275,112 SH   SOLE   1,793,293 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 8,888 1,665,283 SH   SOLE   1,755,550 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 1,264 226,972 SH   OTR 1 0 0 249,765
Sparebank 1 SR-Bank ASA Common R8170W115 1,976 269,682 SH   SOLE   283,082 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 329 43,350 SH   OTR 1 0 0 47,200
Sparebanken Midt Norge Common R83262114 2,570 328,400 SH   SOLE   348,120 0 0
Sparebanken Midt Norge Common R83262114 434 53,980 SH   OTR 1 0 0 58,760
Sparebanken Ost Nok10 Common R1984E108 1,129 171,679 SH   SOLE   171,679 0 0
Sparebanken Ost Nok10 Common R1984E108 14 1,400 SH   OTR 1 0 0 2,100
Sparebanken Vest N0k25 Grunnfo Common R8323C107 794 115,248 SH   SOLE   115,248 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 72 10,100 SH   OTR 1 0 0 10,500
Storebrand ASA Ser A Common R85746106 15,171 4,044,305 SH   SOLE   4,167,061 0 0
Storebrand ASA Ser A Common R85746106 2,134 532,100 SH   OTR 1 0 0 586,200
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 3,784 63,810,261 SH   SOLE   56,271,719 0 0
Tianyin Pharmaceutical Co Inc Common 88630M104 335 745,175 SH   SOLE   745,175 0 0
Total Fina SA ADR Common 89151E109 18,865 356,233 SH   SOLE   379,880 0 0
Total Fina SA ADR Common 89151E109 2,725 49,125 SH   OTR 1 0 0 54,881
Totens Sparebank Nok60 Common R92151100 1,106 96,108 SH   SOLE   101,291 0 0
Totens Sparebank Nok60 Common R92151100 100 7,790 SH   OTR 1 0 0 9,121
Yuhe Intl Inc Com Common 988432100 4 593,345 SH   SOLE   593,345 0 0