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 10,811 2,457,566 SH   SOLE   2,457,566 0 0
Chevrontexaco Corp Common 166764100 250 2,400 SH   SOLE   2,400 0 0
China Pharma Hldgs Inc Com Common 16941T104 384 1,673,218 SH   SOLE   1,673,218 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 3,774 85,868 SH   SOLE   85,868 0 0
Conocophillips Nfs Llc Is Common 20825C104 638 14,531 SH   OTR 1 0 0 14,531
DNB Nor Asa Ord Shs Common R1640U124 24,987 1,468,702 SH   SOLE   1,468,702 0 0
DNB Nor Asa Ord Shs Common R1640U124 3,950 232,200 SH   OTR 1 0 0 232,200
Exxon Mobil Corporation Common 30231G102 282 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 682 5,683,995 SH   SOLE   5,683,995 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 7,526 11,343,413 SH   SOLE   11,343,413 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 1,088 1,639,834 SH   OTR 1 0 0 1,639,834
Helgeland Sparebank Nok50 Grun Common R3099U100 5,652 561,641 SH   SOLE   561,641 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 832 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 8,376 38,427,344 SH   SOLE   38,427,344 0 0
Liandi Clean Technology Inc Co Common 52989W105 411 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 1,314 21,254,352 SH   SOLE   21,254,352 0 0
Regal Petroleum Plc Shs Common G7476L106 172 2,792,937 SH   OTR 1 0 0 2,792,937
Sandnes Sparebank Primary Ca Common R74676108 345 66,203 SH   SOLE   66,203 0 0
Sandnes Sparebank Primary Ca Common R74676108 60 11,625 SH   OTR 1 0 0 11,625
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 8,585 1,262,779 SH   SOLE   1,262,779 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 1,123 165,257 SH   OTR 1 0 0 165,257
Sparebank 1 SR-Bank ASA Common R8170W115 4,950 577,938 SH   SOLE   577,938 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 901 105,245 SH   OTR 1 0 0 105,245
Sparebanken Midt Norge Common R83262114 2,085 242,626 SH   SOLE   242,626 0 0
Sparebanken Midt Norge Common R83262114 290 33,740 SH   OTR 1 0 0 33,740
Sparebanken Ost Nok10 Common R1984E108 652 102,788 SH   SOLE   102,788 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 1,597 257,700 SH   SOLE   257,700 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 175 28,339 SH   OTR 1 0 0 28,339
Storebrand ASA Ser A Common R85746106 23,236 3,367,105 SH   SOLE   3,367,105 0 0
Storebrand ASA Ser A Common R85746106 3,454 500,600 SH   OTR 1 0 0 500,600
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 5 380,000 SH   SOLE   380,000 0 0
Tianyin Pharmaceutical Co Inc Common 88630M104 0 745,175 SH   SOLE   745,175 0 0
Total Fina SA ADR Common 89151E113 14,742 297,290 SH   SOLE   297,290 0 0
Total Fina SA ADR Common 89151E109 2,454 49,488 SH   OTR 1 0 0 49,488
Totens Sparebank Nok60 Common R92151100 1,187 93,508 SH   SOLE   93,508 0 0
Totens Sparebank Nok60 Common R92151100 98 7,790 SH   OTR 1 0 0 7,790
Yuhe Intl Inc Com Common 988432100 0 593,345 SH   SOLE   593,345 0 0