X0202 4 2006-03-27 0 0001299795 Blue Earth Refineries Inc. BUERF 0000897485 KELLOGG PETER R 48 WALL STREET C/O IAT REINSURANCE CO LTD NEW YORK NY 10005 0 0 1 0 common stock 2006-03-27 4 P 0 6000 1.24 A 4041946 I IAT REINSURANCE CO LTD common stock 2006-03-28 4 P 0 4145 1.25 A 4046091 I IAT REINSURANCE CO LTD common stock 2006-03-28 4 P 0 0 0 A 572700 D BY IAT REINSURANCE CO LTD, A BERMUDA CORPORATION OF WHICH MR KELLOGG IS THE SOLE HOLDER OF VOTING STOCK. MR.KELLOGG DISCLAIMS BENEFICIAL OWNERSHIP OF THESE SHARES. peter r kellogg/s/marguerite gorman attorney in fact 2006-03-29