One of the few participants and a leader in deepwater oil drilling. Contract fees are (economically) protected in tightening market. Date Acquired 03/16/07 $76.79/share Merge with GSF 11/27/07: current adj cost basis $75.97/sh Date Acquired 11/21/07 @ $121.45/share Merge with GSF 11/27/07: current adj cost basis $119.42/sh Date Acquired 03/30/07 as GSF @ $61.95 current adj cost basis $130.71/sh Sold portion 03/16/08 @ $55.05 3.175% of portfolio

Ag retailer and fertilizer producer for North and South American markets which will increase sales due to growing demand for food stuff (eat and fuel). Pricing is strengthened due to recent purchase of competitor. Consistantly trades above 50 day moving average with income growth projected to exceed 150%. Strength of stock valuation has been in 90% for past 12 months. Vote of whether to take over CF will be made in near future. Date Acquired 12/24/07 $68.08/share 2.771% of portfolio

Fertilizer production with very respectable PE of about 25. Recently purchased facility in Switzerland to increase product output. Announcement dated 10/24/07 that CF added to S&P Midcap 400. Vote of whether AGU will take over CF will be made in near future. Date Acquired 10/17/07 $75.68/share 3.692% of portfolio

Oil & gas service company that facilitates the efficiency in energy patch. Trend that will stay healthy into the transition of accepting and implementing an alternative energy source. Date Acquired 05/04/06 $66.92/share 05/13/09 $86.13/share 4.538% of portfolio

Play based upon not much downside risk as well as continual inflation theme. Positive is Moody's recently upgraded FCX credit rating. Also, factoring in prior takeover, the projected numbers reflect 50/50 chance/opportunity to double share price in 3 years time frame - beating rule of 72. Date Acquired 03/28/07 $65.71/share Date Acquired 07/10/07 $89.24/share 5.688% of portfolio

Designs, manufactures and services subsea production and processing systems for oil industry. Projected sales increase greater than 20% and income growth greater than 50% for coming year. Stock value has had high strength for past year and stock price likely to increase 15% for year ahead. Date Acquired 08/31/07 $94.45/share Split 2 for 1 09/03/07 cost basis $47.23/share 4.535% of portfolio

International oil support manufacturer (pressure/separator, valve, wellhead, blow-out preventers) for on-shore, off-shore and deep-sea drilling. About a 3.5 billion dollar company should have room to run. Date Acquired 03/30/07 $63.94/share Stock Split 2 for 1: 12/27/07 $31.97/share basis 05/13/09 $27.73/share 4.189% of portfolio

Gold and copper interests. Protection against weak US dollar and headge against moderately increasing world pricing environment. Operating in relatively safe latin America region. Copper demand should remain strong for water supply lines in growing emerging regions and for battery components. Sales growth projected to be quite significant increase in coming year. Recently merged with another mining operation which (regardless of additional stock issuance) should translate favorably to current stockholders with increased supply and effiiciency of mining operations. Date Acquired 04/19/07 $14.74/share Date Acquired 05/07/07 $13.32/share Date Acquired 07/02/08 $16.31/share 3.526% of portfolio