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 11,207 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 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 4,390 87,558 SH   SOLE   87,558 0 0
Conocophillips Nfs Llc Is Common 20825C104 781 15,581 SH   OTR 1 0 0 15,581
DNB Nor Asa Ord Shs Common R1640U124 22,283 1,499,535 SH   SOLE   1,499,535 0 0
DNB Nor Asa Ord Shs Common R1640U124 3,501 235,600 SH   OTR 1 0 0 235,600
Exxon Mobil Corporation Common 30231G102 315 3,500 SH   SOLE   3,500 0 0
Full Apex Holdings Ltd Shs Common G3687W106 912 5,700,858 SH   SOLE   5,700,858 0 0
Full Apex Holdings Ltd Shs Common G3687W106 147 921,055 SH   OTR 1 0 0 921,055
Guangdong Nan Yue Logistics Co Common Y2930Z106 5,261 9,693,867 SH   SOLE   9,693,867 0 0
Guangdong Nan Yue Logistics Co Common Y2930Z106 783 1,443,584 SH   OTR 1 0 0 1,443,584
Helgeland Sparebank Nok50 Grun Common R3099U100 5,205 555,241 SH   SOLE   555,241 0 0
Helgeland Sparebank Nok50 Grun Common R3099U100 795 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 10,194 52,678,118 SH   SOLE   52,678,118 0 0
Kingboard Copper Foil Hldgs Or Common G52567107 2,513 12,989,000 SH   OTR 1 0 0 12,989,000
Liandi Clean Technology Inc Co Common 52989W105 329 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 969 21,034,352 SH   SOLE   21,034,352 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 307 65,897 SH   SOLE   65,897 0 0
Sandnes Sparebank Primary Ca Common R74676108 54 11,625 SH   OTR 1 0 0 11,625
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 7,510 1,242,000 SH   SOLE   1,242,000 0 0
Sparebank 1 Nord-Norge Grunnfo Common R8288N106 1,024 169,416 SH   OTR 1 0 0 169,416
Sparebank 1 SR-Bank ASA Common R8170W115 4,044 575,243 SH   SOLE   575,243 0 0
Sparebank 1 SR-Bank ASA Common R8170W115 753 107,170 SH   OTR 1 0 0 107,170
Sparebanken Midt Norge Common R83262114 1,806 241,040 SH   SOLE   241,040 0 0
Sparebanken Midt Norge Common R83262114 257 34,420 SH   OTR 1 0 0 34,420
Sparebanken Ost Nok10 Common R1984E108 583 96,976 SH   SOLE   96,976 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 604 107,936 SH   SOLE   107,936 0 0
Sparebanken Vest N0k25 Grunnfo Common R8323C107 29 5,314 SH   OTR 1 0 0 5,314
Storebrand ASA Ser A Common R85746106 17,646 3,320,405 SH   SOLE   3,320,405 0 0
Storebrand ASA Ser A Common R85746106 2,710 510,100 SH   OTR 1 0 0 510,100
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 89151E109 14,432 283,149 SH   SOLE   283,149 0 0
Total Fina SA ADR Common 89151E109 2,520 49,442 SH   OTR 1 0 0 49,442
Totens Sparebank Nok60 Common R92151100 1,005 87,754 SH   SOLE   87,754 0 0
Totens Sparebank Nok60 Common R92151100 89 7,790 SH   OTR 1 0 0 7,790
Yuhe Intl Inc Com Common 988432100 0 593,345 SH   SOLE   593,345 0 0