| Fund Holdings (65 total) |
| As of 02/03/2012, subject to change |
| PETROBAKKEN ENERGY LTD | PBN | 5.85% |
| ROSETTA RESOURCES INC | ROSE | 5.29% |
| ENERGY XXI BERMUDA | EXXI | 5.06% |
| LEGACY OIL + GAS INC | LEG | 3.65% |
| GULFPORT ENERGY | GPOR | 3.37% |
| CREW ENERGY INC | CR | 3.33% |
| CELTIC EXPLORATION LTD | CLT | 3.28% |
| PETROBANK ENERGY & RESOURCES | PBG | 3.11% |
| NORTHERN OIL AND | NOG | 3.03% |
| GRAN TIERRA ENERGY INC | GTE | 3.02% |
| STONE ENERGY | SGY | 2.92% |
| FOREST OIL CORP | FST | 2.87% |
| SWIFT ENERGY CO | SFY | 2.81% |
| BANKERS PETROLEUM LTD | BNK | 2.73% |
| BILL BARRETT COR | BBG | 2.61% |
| BIRCHCLIFF ENERGY LTD | BIR | 2.49% |
| NAL ENERGY CORP | NAE | 2.22% |
| APPROACH RESOURC | AREX | 2.22% |
| CARRIZO OIL & GAS INC | CRZO | 1.73% |
| CONTANGO OIL & G | MCF | 1.68% |
| ITHACA ENERGY INC | IAE | 1.53% |
| W&T OFFSHORE INC | WTI | 1.52% |
| PETRO DEV CORP | PETD | 1.50% |
| MAGNUM HUNTER RESOURCES CORP | MHR | 1.43% |
| VANGAURD NATURAL RESOURCE | VNR | 1.41% |
| TRANSGLOBE ENERGY CORP | TGL | 1.35% |
| WHITECAP RESOURCES INC | WCP | 1.29% |
| QUICKSILVER RESOURCES INC | KWK | 1.28% |
| ADVANTAGE OIL & GAS LTD | AAV | 1.27% |
| GEORESOURCES INC | GEOI | 1.23% |
| SOUTHERN PACIFIC RESOURCE CO | STP | 1.22% |
| CANADIAN ENERGY SERVICES & T | CEU | 1.13% |
| COMSTOCK RES INC | CRK | 1.08% |
| SURGE ENERGY INC | SGY | 1.04% |
| CLAYTON WILLIAMS ENERGY INC | CWEI | 1.01% |
| ENERGY PARTNERS LTD | EPL | 0.94% |
| GOODRICH PETROLEUM CORP | GDP | 0.92% |
| ENDEAVOUR INTERNATIONAL CORP | END | 0.81% |
| NUVISTA ENERGY LTD | NVA | 0.78% |
| ANGLE ENERGY INC. | NGL | 0.78% |
| VAALCO ENERGY INC | EGY | 0.73% |
| HYPERDYNAMICS CORP | HDY | 0.70% |
| TWIN BUTTE ENERGY LTD | TBE | 0.69% |
| PETROQUEST ENERGY INC | PQ | 0.68% |
| VENOCO INC | VQ | 0.67% |
| REX ENERGY CORP | REXX | 0.67% |
| FX ENERGY INC | FXEN | 0.64% |
| ABRAXAS PETROLEUM CORP | AXAS | 0.64% |
| BPZ RESOURCES INC | BPZ | 0.64% |
| WESTFIRE ENERGY LTD | WFE | 0.63% |
| MIDWAY ENERGY LTD | MEL | 0.59% |
| ATP OIL & GAS CORP | ATPG | 0.59% |
| WARREN RESOURCES INC | WRES | 0.56% |
| C&J ENERGY SERVICES INC | CJES | 0.55% |
| FAIRBORNE ENERGY LTD | FEL | 0.54% |
| CALLON PETROLEUM | CPE | 0.52% |
| HOUSTON AMERICAN | HUSA | 0.50% |
| GUIDE EXPLORATION LTD | GO | 0.48% |
| BNK PETROLEUM INC | BKX | 0.44% |
| HARVEST NATURAL | HNR | 0.43% |
| DELPHI ENERGY CORP | DEE | 0.43% |
| PENN VIRGINIA CORP | PVA | 0.41% |
| CEQUENCE ENERGY LTD | CQE | 0.32% |
| OPEN RANGE ENERGY CORP | ONR | 0.17% |
| MAGNUM HUNTER RESOURCES - WARRANTS | | - |