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 12,744 2,457,566 SH   SOLE   2,457,566 0 0
Chevrontexaco Corp Common 166764100 257 2,400 SH   SOLE   2,400 0 0
China Pharma Hldgs Inc Com Common 16941T104 546 2,101,626 SH   SOLE   2,101,626 0 0
China Ritar Power Corp Common 169423100 7,065 9,420,056 SH   SOLE   9,420,056 0 0
China Ritar Power Corp Common 169423100 12 16,037 SH   OTR 1 0 0 16,037
China Sky One Med Inc Com Common 16941P102 2,001 1,164,422 SH   SOLE   1,164,422 0 0
Conocophillips Nfs Llc Is Common 20825C104 4,371 87,648 SH   SOLE   87,648 0 0
Conocophillips Nfs Llc Is Common 20825C104 724 14,531 SH   OTR 1 0 0 14,531
DNB Nor Asa Ord Shs Common R1640U124 23,672 1,495,602 SH   SOLE   1,495,602 0 0
DNB Nor Asa Ord Shs Common R1640U124 3,675 232,200 SH   OTR 1 0 0 232,200
Exxon Mobil Corporation Common 30231G102 287 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 690 5,757,495 SH   SOLE   5,757,495 0 0
Full Apex Holdings Ltd Shs Common G3687W106 109 915,805 SH   OTR 1 0 0 915,805
Guangdong Nan Yue Logistics Co Common Y2930Z106 7,337 10,038,297 SH   SOLE   10,038,297 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 1,030 1,409,834 SH   OTR 1 0 0 1,409,834
Helgeland Sparebank Nok50 Grun Common R3099U100 5,348 571,241 SH   SOLE   571,241 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 774 82,700 SH   OTR 1 0 0 82,700
Jiangbo Pharmaceuticals Inc Common 47737R101 0 744,696 SH   SOLE   744,696 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 15,824 54,587,582 SH   SOLE   54,587,582 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 3,771 13,009,000 SH   OTR 1 0 0 13,009,000
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 0 42,900 SH   SOLE   42,900 0 0
Regal Petroleum Plc Shs Common G7476L106 1,058 19,619,352 SH   SOLE   19,619,352 0 0
Regal Petroleum Plc Shs Common G7476L106 240 4,462,937 SH   OTR 1 0 0 4,462,937
Sandnes Sparebank Primary Ca Common R74676108 304 66,203 SH   SOLE   66,203 0 0
Sandnes Sparebank Primary Ca Common R74676108 53 11,625 SH   OTR 1 0 0 11,625
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 8,218 1,279,086 SH   SOLE   1,279,086 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 1,061 165,257 SH   OTR 1 0 0 165,257
Sparebank 1 SR-Bank ASA Common R8170W115 4,361 583,688 SH   SOLE   583,688 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 786 105,245 SH   OTR 1 0 0 105,245
Sparebanken Midt Norge Common R83262114 1,903 246,106 SH   SOLE   246,106 0 0
Sparebanken Midt Norge Common R83262114 260 33,740 SH   OTR 1 0 0 33,740
Sparebanken Ost Nok10 Common R1984E108 615 102,788 SH   SOLE   102,788 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 788 130,370 SH   SOLE   130,370 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 29 4,959 SH   OTR 1 0 0 4,959
Storebrand ASA Ser A Common R85746106 22,707 3,419,505 SH   SOLE   3,419,505 0 0
Storebrand ASA Ser A Common R85746106 3,324 500,600 SH   OTR 1 0 0 500,600
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 6 380,000 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 14,952 296,555 SH   SOLE   296,555 0 0
Total Fina SA ADR Common 89151E109 2,469 48,981 SH   OTR 1 0 0 48,981
Totens Sparebank Nok60 Common R92151100 1,087 93,508 SH   SOLE   93,508 0 0
Totens Sparebank Nok60 Common R92151100 90 7,790 SH   OTR 1 0 0 7,790
Yuhe Intl Inc Com Common 988432100 0 593,345 SH   SOLE   593,345 0 0