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 10,373 2,470,066 SH   SOLE   2,475,066 0 0
Chevrontexaco Corp Common 166764100 24 2,400 SH   SOLE   2,400 0 0
China Housing and Land Develop Common 16939V103 2,412 809,650 SH   SOLE   4,865,450 0 0
China Housing and Land Develop Common 16939V103 344 115,506 SH   OTR 1 0 0 717,518
China Pharma Hldgs Inc Com Common 16941T104 317 2,104,826 SH   SOLE   2,104,826 0 0
China Ritar Power Corp Common 169423100 3,100 8,159,226 SH   SOLE   8,220,201 0 0
China Ritar Power Corp Common 169423100 213 561,449 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 2,043 924,514 SH   SOLE   924,514 0 0
Conocophillips Nfs Llc Is Common 20825C104 4,598 98,496 SH   SOLE   113,868 0 0
Conocophillips Nfs Llc Is Common 20825C104 741 15,881 SH   OTR 1 0 0 18,380
DNB Nor Asa Ord Shs Common R1640U124 21,840 1,753,148 SH   SOLE   1,970,999 0 0
DNB Nor Asa Ord Shs Common R1640U124 2,979 239,200 SH   OTR 1 0 0 271,200
Exxon Mobil Corporation Common 30231G102 30 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 1,927 113,889,262 SH   SOLE   113,733,299 0 0
Full Apex Holdings Ltd Shs Common G3687W106 311 18,421,100 SH   OTR 1 0 0 19,056,100
Guangdong Nan Yue Logistics Co Common Y2930Z106 7,681 10,176,096 SH   SOLE   12,362,415 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 1,089 1,443,584 SH   OTR 1 0 0 2,180,673
Helgeland Sparebank Nok50 Grun Common R3099U100 3,872 578,541 SH   SOLE   661,641 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 581 86,900 SH   OTR 1 0 0 98,300
Jiangbo Pharmaceuticals Inc Common 47737R101 0 744,696 SH   SOLE   744,696 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 7,374 52,290,545 SH   SOLE   53,410,545 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 1,831 12,989,000 SH   OTR 1 0 0 13,069,000
Liandi Clean Technology Inc Co Common 52989W105 356 2,742,093 SH   SOLE   2,742,093 0 0
MMR Information Sys Inc Com Common 553101106 0 214,497 SH   SOLE   214,497 0 0
Regal Petroleum Plc Shs Common G7476L106 1,181 21,372,684 SH   SOLE   21,843,699 0 0
Regal Petroleum Plc Shs Common G7476L106 151 2,735,437 SH   OTR 1 0 0 2,857,937
Sandnes Sparebank Primary Ca Common R74676108 207 26,817 SH   SOLE   26,817 0 0
Sandnes Sparebank Primary Ca Common R74676108 29 3,800 SH   OTR 1 0 0 3,800
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 6,326 1,519,350 SH   SOLE   1,755,550 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 867 208,406 SH   OTR 1 0 0 249,765
Sparebank 1 SR-Bank ASA Common R8170W115 1,067 239,382 SH   SOLE   283,082 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 172 38,750 SH   OTR 1 0 0 47,200
Sparebanken Midt Norge Common R83262114 1,797 313,800 SH   SOLE   348,120 0 0
Sparebanken Midt Norge Common R83262114 300 52,380 SH   OTR 1 0 0 58,760
Sparebanken Ost Nok10 Common R1984E108 878 162,679 SH   SOLE   171,679 0 0
Sparebanken Ost Nok10 Common R1984E108 7 1,400 SH   OTR 1 0 0 2,100
Sparebanken Vest N0k25 Grunnfo Common R8323C107 855 215,321 SH   SOLE   115,248 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 61 15,403 SH   OTR 1 0 0 10,500
Storebrand ASA Ser A Common R85746106 13,443 3,390,305 SH   SOLE   4,167,061 0 0
Storebrand ASA Ser A Common R85746106 1,721 434,100 SH   OTR 1 0 0 586,200
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 15 380,000 SH   SOLE   56,271,719 0 0
Tianyin Pharmaceutical Co Inc Common 88630M104 124 745,175 SH   SOLE   745,175 0 0
Total Fina SA ADR Common 89151E109 14,745 328,041 SH   SOLE   379,880 0 0
Total Fina SA ADR Common 89151E109 2,152 47,878 SH   OTR 1 0 0 54,881
Totens Sparebank Nok60 Common R92151100 899 96,108 SH   SOLE   101,291 0 0
Totens Sparebank Nok60 Common R92151100 72 7,790 SH   OTR 1 0 0 9,121
Yuhe Intl Inc Com Common 988432100 1 593,345 SH   SOLE   593,345 0 0
Yuhe Intl Inc Com Common 988432100 4 593,345 SH   SOLE   593,345 0 0