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 11,404 2,457,566 SH   SOLE   2,457,566 0 0
Chevrontexaco Corp Common 166764100 282 2,400 SH   SOLE   2,400 0 0
China Pharma Hldgs Inc Com Common 16941T104 292 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 4,167 83,268 SH   SOLE   83,268 0 0
Conocophillips Nfs Llc Is Common 20825C104 727 14,531 SH   OTR 1 0 0 14,531
DNB Nor Asa Ord Shs Common R1640U124 28,025 1,390,402 SH   SOLE   1,390,402 0 0
DNB Nor Asa Ord Shs Common R1640U124 4,680 232,200 SH   OTR 1 0 0 232,200
Exxon Mobil Corporation Common 30231G102 286 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 852 5,682,995 SH   SOLE   5,682,995 0 0
Full Apex Holdings Ltd Shs Common G3687W106 136 909,305 SH   OTR 1 0 0 909,305
Guangdong Nan Yue Logistics Co Common Y2930Z106 7,986 13,245,413 SH   SOLE   13,245,413 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 1,174 1,947,334 SH   OTR 1 0 0 1,947,334
Helgeland Sparebank Nok50 Grun Common R3099U100 6,187 558,241 SH   SOLE   558,241 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 916 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 10,331 38,427,344 SH   SOLE   38,427,344 0 0
Liandi Clean Technology Inc Co Common 52989W105 274 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 1,277 21,429,163 SH   SOLE   21,429,163 0 0
Regal Petroleum Plc Shs Common G7476L106 166 2,792,937 SH   OTR 1 0 0 2,792,937
Sandnes Sparebank Primary Ca Common R74676108 440 66,203 SH   SOLE   66,203 0 0
Sandnes Sparebank Primary Ca Common R74676108 77 11,625 SH   OTR 1 0 0 11,625
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 9,716 1,252,971 SH   SOLE   1,252,971 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 1,281 165,257 SH   OTR 1 0 0 165,257
Sparebank 1 SR-Bank ASA Common R8170W115 6,192 575,038 SH   SOLE   575,038 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 1,133 105,245 SH   OTR 1 0 0 105,245
Sparebanken Midt Norge Common R83262114 2,461 241,226 SH   SOLE   241,226 0 0
Sparebanken Midt Norge Common R83262114 344 33,740 SH   OTR 1 0 0 33,740
Sparebanken Ost Nok10 Common R1984E108 695 100,651 SH   SOLE   100,651 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 1,785 253,814 SH   SOLE   253,814 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 199 28,339 SH   OTR 1 0 0 28,339
Storebrand ASA Ser A Common R85746106 26,741 3,149,905 SH   SOLE   3,149,905 0 0
Storebrand ASA Ser A Common R85746106 4,249 500,600 SH   OTR 1 0 0 500,600
Tethys Petroleum Limited Com ( Common ZZC7XGGM1 4 380,000 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 15,433 288,376 SH   SOLE   288,376 0 0
Total Fina SA ADR Common 89151E109 2,612 48,807 SH   OTR 1 0 0 48,807
Totens Sparebank Nok60 Common R92151100 1,351 90,451 SH   SOLE   90,451 0 0
Totens Sparebank Nok60 Common R92151100 116 7,790 SH   OTR 1 0 0 7,790
Yuhe Intl Inc Com Common 988432100 0 593,345 SH   SOLE   593,345 0 0