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 11,084 2,457,566 SH   SOLE   2,457,566 0 0
Chevrontexaco Corp Common 166764100 247 2,400 SH   SOLE   2,400 0 0
China Pharma Hldgs Inc Com Common 16941T104 451 2,101,626 SH   SOLE   2,101,626 0 0
China Ritar Power Corp Common 169423100 3,362 8,849,044 SH   SOLE   8,849,044 0 0
China Ritar Power Corp Common 169423100 213 561,449 SH   OTR 1 0 0 561,449
China Sky One Med Inc Com Common 16941P102 0 1,164,422 SH   SOLE   1,164,422 0 0
Conocophillips Nfs Llc Is Common 20825C104 4,014 92,358 SH   SOLE   92,358 0 0
Conocophillips Nfs Llc Is Common 20825C104 677 15,581 SH   OTR 1 0 0 15,581
DNB Nor Asa Ord Shs Common R1640U124 20,581 1,569,552 SH   SOLE   1,569,552 0 0
DNB Nor Asa Ord Shs Common R1640U124 3,089 235,600 SH   OTR 1 0 0 235,600
Exxon Mobil Corporation Common 30231G102 305 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 1,673 5,770,991 SH   SOLE   5,770,991 0 0
Full Apex Holdings Ltd Shs Common G3687W106 267 921,055 SH   OTR 1 0 0 921,055
Guangdong Nan Yue Logistics Co Common Y2930Z106 6,377 10,326,297 SH   SOLE   10,326,297 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 891 1,443,584 SH   OTR 1 0 0 1,443,584
Helgeland Sparebank Nok50 Grun Common R3099U100 4,955 586,241 SH   SOLE   586,241 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 717 84,900 SH   OTR 1 0 0 84,900
Jiangbo Pharmaceuticals Inc Common 47737R101 0 744,696 SH   SOLE   744,696 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 9,070 53,757,682 SH   SOLE   53,757,682 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 2,191 12,989,000 SH   OTR 1 0 0 12,989,000
Liandi Clean Technology Inc Co Common 52989W105 112 2,742,093 SH   SOLE   2,742,093 0 0
MMR Information Sys Inc Com Common 553101106 0 42,900 SH   SOLE   42,900 0 0
Regal Petroleum Plc Shs Common G7476L106 978 21,329,352 SH   SOLE   21,329,352 0 0
Regal Petroleum Plc Shs Common G7476L106 129 2,820,437 SH   OTR 1 0 0 2,820,437
Sandnes Sparebank Primary Ca Common R74676108 282 66,203 SH   SOLE   66,203 0 0
Sandnes Sparebank Primary Ca Common R74676108 49 11,625 SH   OTR 1 0 0 11,625
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 6,793 1,310,197 SH   SOLE   1,310,197 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 878 169,416 SH   OTR 1 0 0 169,416
Sparebank 1 SR-Bank ASA Common R8170W115 3,236 566,778 SH   SOLE   566,778 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 612 107,170 SH   OTR 1 0 0 107,170
Sparebanken Midt Norge Common R83262114 1,766 252,986 SH   SOLE   252,986 0 0
Sparebanken Midt Norge Common R83262114 240 34,420 SH   OTR 1 0 0 34,420
Sparebanken Ost Nok10 Common R1984E108 611 102,788 SH   SOLE   102,788 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 651 130,370 SH   SOLE   130,370 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 26 5,314 SH   OTR 1 0 0 5,314
Storebrand ASA Ser A Common R85746106 17,194 3,475,705 SH   SOLE   3,475,705 0 0
Storebrand ASA Ser A Common R85746106 2,523 510,100 SH   OTR 1 0 0 510,100
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 7 380,000 SH   SOLE   380,000 0 0
Tianyin Pharmaceutical Co Inc Common 88630M104 119 745,175 SH   SOLE   745,175 0 0
Total Fina SA ADR Common 89151E113 14,191 297,521 SH   SOLE   297,521 0 0
Total Fina SA ADR Common 89151E113 2,327 48,799 SH   OTR 1 0 0 48,799
Totens Sparebank Nok60 Common R92151100 960 93,508 SH   SOLE   93,508 0 0
Totens Sparebank Nok60 Common R92151100 80 7,790 SH   OTR 1 0 0 7,790
Yuhe Intl Inc Com Common 988432100 5 593,345 SH   SOLE   593,345 0 0