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 11,895 2,470,066 SH   SOLE   2,475,066 0 0
Chevrontexaco Corp Common 166764100 27 2,400 SH   SOLE   2,400 0 0
China Pharma Hldgs Inc Com Common 16941T104 357 2,104,826 SH   SOLE   2,104,826 0 0
China Ritar Power Corp Common 169423100 3,124 8,221,326 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 2,773 924,514 SH   SOLE   924,514 0 0
Conocophillips Nfs Llc Is Common 20825C104 3,853 95,696 SH   SOLE   113,868 0 0
Conocophillips Nfs Llc Is Common 20825C104 639 15,881 SH   OTR 1 0 0 18,380
DNB Nor Asa Ord Shs Common R1640U124 18,705 1,580,868 SH   SOLE   1,970,999 0 0
DNB Nor Asa Ord Shs Common R1640U124 2,830 239,200 SH   OTR 1 0 0 271,200
Exxon Mobil Corporation Common 30231G102 292 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 3,404 114,757,262 SH   SOLE   113,733,299 0 0
Full Apex Holdings Ltd Shs Common G3687W106 546 18,421,100 SH   OTR 1 0 0 19,056,100
Guangdong Nan Yue Logistics Co Common Y2930Z106 6,123 10,063,596 SH   SOLE   12,362,415 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 878 1,443,584 SH   OTR 1 0 0 2,180,673
Helgeland Sparebank Nok50 Grun Common R3099U100 4,197 578,541 SH   SOLE   661,641 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 630 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 9,696 52,290,545 SH   SOLE   53,410,545 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 2,408 12,989,000 SH   OTR 1 0 0 13,069,000
Liandi Clean Technology Inc Co Common 52989W105 246 2,742,093 SH   SOLE   2,742,093 0 0
MMR Information Sys Inc Com Common 553101106 0 42,900 SH   SOLE   214,497 0 0
Regal Petroleum Plc Shs Common G7476L106 748 21,277,684 SH   SOLE   21,843,699 0 0
Regal Petroleum Plc Shs Common G7476L106 99 2,830,437 SH   OTR 1 0 0 2,857,937
Sandnes Sparebank Primary Ca Common R74676108 220 26,817 SH   SOLE   26,817 0 0
Sandnes Sparebank Primary Ca Common R74676108 31 3,800 SH   OTR 1 0 0 3,800
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 6,748 1,488,177 SH   SOLE   1,755,550 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 945 208,406 SH   OTR 1 0 0 249,765
Sparebank 1 SR-Bank ASA Common R8170W115 1,175 239,382 SH   SOLE   283,082 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 190 38,750 SH   OTR 1 0 0 47,200
Sparebanken Midt Norge Common R83262114 1,939 304,000 SH   SOLE   348,120 0 0
Sparebanken Midt Norge Common R83262114 334 52,380 SH   OTR 1 0 0 58,760
Sparebanken Ost Nok10 Common R1984E108 983 162,679 SH   SOLE   171,679 0 0
Sparebanken Ost Nok10 Common R1984E108 8 1,400 SH   OTR 1 0 0 2,100
Sparebanken Vest N0k25 Grunnfo Common R8323C107 882 215,321 SH   SOLE   115,248 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 63 15,414 SH   OTR 1 0 0 10,500
Storebrand ASA Ser A Common R85746106 13,254 3,390,305 SH   SOLE   4,167,061 0 0
Storebrand ASA Ser A Common R85746106 2,037 521,300 SH   OTR 1 0 0 586,200
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 13 380,000 SH   SOLE   56,271,719 0 0
Tianyin Pharmaceutical Co Inc Common 88630M104 111 745,175 SH   SOLE   745,175 0 0
Total Fina SA ADR Common 89151E109 13,947 307,080 SH   SOLE   379,880 0 0
Total Fina SA ADR Common 89151E109 2,194 48,318 SH   OTR 1 0 0 54,881
Totens Sparebank Nok60 Common R92151100 1,045 96,108 SH   SOLE   101,291 0 0
Totens Sparebank Nok60 Common R92151100 84 7,790 SH   OTR 1 0 0 9,121
Yuhe Intl Inc Com Common 988432100 0 593,345 SH   SOLE   593,345 0 0