GeoSphere Capital Management, LLC Activity Q4 2007-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$38,473,200	–	90,000	–	23.90%	–
IWM	New	ISHARES TRput	$16,189,384	–	91,600	–	10.06%	–
WFRD	Buy	WEATHERFORD INTL PLC	$9,394,320	+50.5%	104,000	+10.6%	5.84%	+10.9%
ARCH	Sell	ARCH RESOURCES INCcl a	$8,009,756	+42.1%	46,934	-6.1%	4.98%	+4.7%
KOS	Sell	KOSMOS ENERGY LTD	$7,645,110	-6.4%	934,610	-31.5%	4.75%	-31.0%
UEC	Sell	URANIUM ENERGY CORP	$6,935,886	+36.0%	1,346,774	-10.2%	4.31%	+0.2%
STNG	Buy	SCORPIO TANKERS INC	$6,497,485	+243.9%	120,057	+200.1%	4.04%	+153.5%
PAAS	Buy	PAN AMERN SILVER CORP	$5,574,800	+112.4%	385,000	+113.9%	3.46%	+56.6%
HLX	Sell	HELIX ENERGY SOLUTIONS GRP I	$5,201,031	+24.6%	465,625	-17.7%	3.23%	-8.2%
	Buy	NOBLE CORP PLC	$4,573,695	+121.4%	90,300	+80.6%	2.84%	+63.2%
CVE	New	CENOVUS ENERGY INC	$4,476,300	–	215,000	–	2.78%	–
PDS	Buy	PRECISION DRILLING CORP	$4,362,800	+198.3%	65,000	+116.7%	2.71%	+120.0%
SPY	New	SPDR S&P 500 ETF TRcall	$4,274,800	–	10,000	–	2.66%	–
HBM	Buy	HUDBAY MINERALS INC	$2,743,271	+90.5%	563,300	+87.8%	1.70%	+40.4%
IMO	New	IMPERIAL OIL LTD	$2,617,575	–	42,500	–	1.63%	–
GPOR	New	GULFPORT ENERGY CORP	$2,373,200	–	20,000	–	1.47%	–
	New	URANIUM RTY CORP	$2,152,500	–	750,000	–	1.34%	–
	New	ENCORE ENERGY CORP	$2,108,242	–	646,700	–	1.31%	–
CEIX	Sell	CONSOL ENERGY INC NEW	$2,098,200	+3.1%	20,000	-33.3%	1.30%	-24.0%
DHT	New	DHT HOLDINGS INC	$2,060,000	–	200,000	–	1.28%	–
	New	SIGMA LITHIUM CORPORATION	$1,946,400	–	60,000	–	1.21%	–
HP	New	HELMERICH & PAYNE INC	$1,686,400	–	40,000	–	1.05%	–
	New	LIFEZONE METALS LIMITED	$500,947	–	40,827	–	0.31%	–
	Exit	GOGREEN INVESTMENTS CORP	$0	–	-38,000	–	-0.36%	–
	Exit	KODIAK GAS SVCS INC	$0	–	-87,927	–	-1.20%	–
	Exit	EXCELERATE ENERGY INC	$0	–	-100,000	–	-1.71%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-20,000	–	-1.81%	–
DNN	Exit	DENISON MINES CORP	$0	–	-2,000,000	–	-2.11%	–
PLL	Exit	PIEDMONT LITHIUM INC	$0	–	-47,500	–	-2.31%	–
EURN	Exit	EURONAV NV	$0	–	-200,000	–	-2.56%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-56,000	–	-2.66%	–
	Exit	SEADRILL 2021 LTD	$0	–	-79,998	–	-2.78%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-15,000	–	-2.82%	–
ERO	Exit	ERO COPPER CORP	$0	–	-186,304	–	-3.18%	–
SQM	Exit	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$0	–	-55,193	–	-3.38%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-70,000	–	-4.10%	–
	Exit	ISHARES TRput	$0	–	-40,000	–	-6.31%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-90,800	–	-6.34%	–
	Exit	INVESCO QQQ TRput	$0	–	-30,000	–	-9.34%	–

Q2 2023

			Value		Shares		↓ Weighting
	New	INVESCO QQQ TRput	$11,082,600	–	30,000	–	9.34%	–
TDW	New	TIDEWATER INC NEW	$9,334,876	–	168,378	–	7.87%	–
KOS	New	KOSMOS ENERGY LTD	$8,170,360	–	1,364,000	–	6.88%	–
	New	SELECT SECTOR SPDR TRput	$7,524,596	–	90,800	–	6.34%	–
	New	ISHARES TRput	$7,490,800	–	40,000	–	6.31%	–
WFRD	New	WEATHERFORD INTL PLC	$6,243,480	–	94,000	–	5.26%	–
CCJ	New	CAMECO CORP	$5,639,400	–	180,000	–	4.75%	–
ARCH	New	ARCH RESOURCES INCcl a	$5,638,000	–	50,000	–	4.75%	–
UEC	New	URANIUM ENERGY CORP	$5,100,000	–	1,500,000	–	4.30%	–
CF	New	CF INDS HLDGS INC	$4,859,400	–	70,000	–	4.10%	–
HLX	New	HELIX ENERGY SOLUTIONS GRP I	$4,174,313	–	565,625	–	3.52%	–
SQM	New	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$4,008,116	–	55,193	–	3.38%	–
ERO	New	ERO COPPER CORP	$3,768,930	–	186,304	–	3.18%	–
ALB	New	ALBEMARLE CORP	$3,346,350	–	15,000	–	2.82%	–
	New	SEADRILL 2021 LTD	$3,301,517	–	79,998	–	2.78%	–
CNQ	New	CANADIAN NAT RES LTD	$3,150,560	–	56,000	–	2.66%	–
EURN	New	EURONAV NV	$3,044,000	–	200,000	–	2.56%	–
PLL	New	PIEDMONT LITHIUM INC	$2,741,225	–	47,500	–	2.31%	–
PAAS	New	PAN AMERN SILVER CORP	$2,624,400	–	180,000	–	2.21%	–
DNN	New	DENISON MINES CORP	$2,500,000	–	2,000,000	–	2.11%	–
	New	SELECT SECTOR SPDR TRput	$2,146,400	–	20,000	–	1.81%	–
	New	NOBLE CORP PLC	$2,065,500	–	50,000	–	1.74%	–
CEIX	New	CONSOL ENERGY INC NEW	$2,034,300	–	30,000	–	1.71%	–
	New	EXCELERATE ENERGY INC	$2,033,000	–	100,000	–	1.71%	–
STNG	New	SCORPIO TANKERS INC	$1,889,200	–	40,000	–	1.59%	–
PDS	New	PRECISION DRILLING CORP	$1,462,500	–	30,000	–	1.23%	–
HBM	New	HUDBAY MINERALS INC	$1,440,000	–	300,000	–	1.21%	–
	New	KODIAK GAS SVCS INC	$1,427,934	–	87,927	–	1.20%	–
	New	GOGREEN INVESTMENTS CORP	$421,420	–	38,000	–	0.36%	–

Q4 2019

			Value		Shares		↓ Weighting
ROSWQ	Exit	ROSEHILL RES INCcall	$0	–	-116,151	–	-0.19%	–
ROSEQ	Exit	ROSEHILL RES INCcl a	$0	–	-59,145	–	-0.97%	–
VALPQ	Exit	VALARIS PLC	$0	–	-50,000	–	-2.02%	–
CRCQQ	Exit	CALIFORNIA RES CORP	$0	–	-25,000	–	-2.15%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-63,694	–	-2.40%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-15,000	–	-2.57%	–
DSSI	Exit	DIAMOND S SHIPPING INC	$0	–	-30,000	–	-2.79%	–
OXY	Exit	OCCIDENTAL PETE CORP	$0	–	-7,500	–	-2.81%	–
CLF	Exit	CLEVELAND CLIFFS INC	$0	–	-51,145	–	-3.11%	–
APY	Exit	APERGY CORP	$0	–	-14,251	–	-3.24%	–
VLO	Exit	VALERO ENERGY CORP NEW	$0	–	-5,000	–	-3.59%	–
EURN	Exit	EURONAV NV ANTWERPEN	$0	–	-50,000	–	-3.88%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-17,282	–	-3.88%	–
ASC	Exit	ARDMORE SHIPPING CORP	$0	–	-90,000	–	-5.07%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-7,000	–	-5.30%	–
NESR	Exit	NATIONAL ENERGY SERVICES REU	$0	–	-110,000	–	-6.19%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-13,000	–	-6.24%	–
SOI	Exit	SOLARIS OILFIELD INFRSTR INC	$0	–	-56,206	–	-6.35%	–
HLX	Exit	HELIX ENERGY SOLUTIONS GRP I	$0	–	-94,200	–	-6.39%	–
KOS	Exit	KOSMOS ENERGY LTD	$0	–	-125,000	–	-6.57%	–
INSW	Exit	INTERNATIONAL SEAWAYS INC	$0	–	-41,730	–	-6.77%	–
WPX	Exit	WPX ENERGY INC	$0	–	-90,729	–	-8.10%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-32,705	–	-9.42%	–

Q3 2019

			Value		Shares		↓ Weighting
SLB	Buy	SCHLUMBERGER LTD	$1,118,000	+87.6%	32,705	+118.0%	9.42%	+394.6%
WPX	New	WPX ENERGY INC	$961,000	–	90,729	–	8.10%	–
INSW	New	INTERNATIONAL SEAWAYS INC	$804,000	–	41,730	–	6.77%	–
KOS	New	KOSMOS ENERGY LTD	$780,000	–	125,000	–	6.57%	–
HLX	New	HELIX ENERGY SOLUTIONS GRP I	$759,000	–	94,200	–	6.39%	–
SOI	Sell	SOLARIS OILFIELD INFRSTR INC	$754,000	-28.1%	56,206	-19.7%	6.35%	+89.6%
NESR	Buy	NATIONAL ENERGY SERVICES REU	$735,000	-6.1%	110,000	+22.2%	6.19%	+147.6%
FANG	Sell	DIAMONDBACK ENERGY INC	$629,000	-23.4%	7,000	-7.1%	5.30%	+102.1%
ASC	Buy	ARDMORE SHIPPING CORP	$602,000	+24.6%	90,000	+52.0%	5.07%	+228.6%
CNQ	Sell	CANADIAN NAT RES LTD	$460,000	-43.1%	17,282	-42.4%	3.88%	+50.0%
EURN	New	EURONAV NV ANTWERPEN	$460,000	–	50,000	–	3.88%	–
VLO	New	VALERO ENERGY CORP NEW	$426,000	–	5,000	–	3.59%	–
APY	New	APERGY CORP	$385,000	–	14,251	–	3.24%	–
CLF	Sell	CLEVELAND CLIFFS INC	$369,000	-79.4%	51,145	-69.5%	3.11%	-45.6%
OXY	New	OCCIDENTAL PETE CORP	$334,000	–	7,500	–	2.81%	–
DSSI	New	DIAMOND S SHIPPING INC	$331,000	–	30,000	–	2.79%	–
TALO	Sell	TALOS ENERGY INC	$305,000	-36.6%	15,000	-25.0%	2.57%	+67.3%
RIG	New	TRANSOCEAN LTD	$285,000	–	63,694	–	2.40%	–
CRCQQ	New	CALIFORNIA RES CORP	$255,000	–	25,000	–	2.15%	–
VALPQ	New	VALARIS PLC	$240,000	–	50,000	–	2.02%	–
METC	Exit	RAMACO RES INC	$0	–	-61,279	–	-1.04%	–
STNG	Exit	SCORPIO TANKERS INC	$0	–	-15,000	–	-1.42%	–
MDRIQ	Exit	MCDERMOTT INTL INC	$0	–	-60,000	–	-1.85%	–
PBF	Exit	PBF ENERGY INCcl a	$0	–	-18,714	–	-1.87%	–
ARCH	Exit	ARCH COAL INCcl a	$0	–	-6,947	–	-2.09%	–
DHT	Exit	DHT HOLDINGS INC	$0	–	-150,000	–	-2.83%	–
EOG	Exit	EOG RES INC	$0	–	-10,000	–	-2.98%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-35,960	–	-2.98%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-80,000	–	-4.86%	–
IWM	Exit	ISHARES TRput	$0	–	-50,000	–	-24.84%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-30,000	–	-28.08%	–

Q2 2019

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$8,790,000	–	30,000	–	28.08%	–
IWM	New	ISHARES TRput	$7,778,000	–	50,000	–	24.84%	–
CLF	New	CLEVELAND CLIFFS INC	$1,787,000	–	167,500	–	5.71%	–
PE	New	PARSLEY ENERGY INCcl a	$1,521,000	–	80,000	–	4.86%	–
SOI	New	SOLARIS OILFIELD INFRSTR INC	$1,049,000	–	70,000	–	3.35%	–
FTI	New	TECHNIPFMC PLC	$933,000	–	35,960	–	2.98%	–
EOG	New	EOG RES INC	$932,000	–	10,000	–	2.98%	–
DHT	New	DHT HOLDINGS INC	$887,000	–	150,000	–	2.83%	–
FANG	New	DIAMONDBACK ENERGY INC	$821,000	–	7,532	–	2.62%	–
CNQ	New	CANADIAN NAT RES LTD	$809,000	–	30,000	–	2.58%	–
COP	New	CONOCOPHILLIPS	$793,000	–	13,000	–	2.53%	–
NESR	New	NATIONAL ENERGY SERVICES REU	$783,000	–	90,000	–	2.50%	–
ARCH	New	ARCH COAL INCcl a	$654,000	–	6,947	–	2.09%	–
SLB	New	SCHLUMBERGER LTD	$596,000	–	15,000	–	1.90%	–
PBF	New	PBF ENERGY INCcl a	$586,000	–	18,714	–	1.87%	–
MDRIQ	New	MCDERMOTT INTL INC	$580,000	–	60,000	–	1.85%	–
ASC	New	ARDMORE SHIPPING CORP	$483,000	–	59,213	–	1.54%	–
TALO	New	TALOS ENERGY INC	$481,000	–	20,000	–	1.54%	–
STNG	New	SCORPIO TANKERS INC	$443,000	–	15,000	–	1.42%	–
METC	New	RAMACO RES INC	$326,000	–	61,279	–	1.04%	–
ROSEQ	New	ROSEHILL RES INCcl a	$219,000	–	59,145	–	0.70%	–
ROSWQ	New	ROSEHILL RES INCcall	$56,000	–	116,151	–	0.18%	–

Q4 2018

			Value		Shares		↓ Weighting
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-9,457	–	-0.18%	–
ROSWQ	Exit	ROSEHILL RES INCcall	$0	–	-263,849	–	-0.48%	–
DNRCQ	Exit	DENBURY RES INC	$0	–	-100,000	–	-0.97%	–
DK	Exit	DELEK US HLDGS INC NEW	$0	–	-19,988	–	-1.33%	–
RDC	Exit	ROWAN COMPANIES PLC	$0	–	-50,000	–	-1.47%	–
EURN	Exit	EURONAV NV ANTWERPEN	$0	–	-110,324	–	-1.50%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-10,000	–	-1.81%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-10,000	–	-2.12%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-20,000	–	-2.19%	–
CRCQQ	Exit	CALIFORNIA RES CORP	$0	–	-31,000	–	-2.35%	–
METC	Exit	RAMACO RES INC	$0	–	-212,358	–	-2.48%	–
ESV	Exit	ENSCO PLC	$0	–	-187,641	–	-2.48%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-21,000	–	-2.63%	–
PAGP	Exit	PLAINS GP HLDGS L Pltd partnr int a	$0	–	-70,000	–	-2.69%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-77,209	–	-2.72%	–
KEX	Exit	KIRBY CORP	$0	–	-21,300	–	-2.74%	–
ROSEQ	Exit	ROSEHILL RES INCcl a	$0	–	-300,000	–	-2.86%	–
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-391,115	–	-3.00%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-32,600	–	-3.11%	–
WPX	Exit	WPX ENERGY INC	$0	–	-115,000	–	-3.62%	–
NBR	Exit	NABORS INDUSTRIES LTD	$0	–	-435,000	–	-4.20%	–
CPE	Exit	CALLON PETE CO DEL	$0	–	-245,000	–	-4.60%	–
REN	Exit	RESOLUTE ENERGY CORP	$0	–	-80,000	–	-4.74%	–
TALO	Exit	TALOS ENERGY INC	$0	–	-92,797	–	-4.77%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-45,000	–	-4.81%	–
HCC	Exit	WARRIOR MET COAL INC	$0	–	-115,299	–	-4.88%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-103,000	–	-5.04%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-63,327	–	-5.26%	–
ECA	Exit	ENCANA CORP	$0	–	-282,100	–	-5.79%	–
IWM	Exit	ISHARES TRput	$0	–	-50,000	–	-13.19%	–

Q3 2018

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$8,427,000	–	50,000	–	13.19%	–
ECA	Buy	ENCANA CORP	$3,698,000	+776.3%	282,100	+772.5%	5.79%	+136.1%
WLL	Buy	WHITING PETE CORP NEW	$3,359,000	+1667.9%	63,327	+1659.1%	5.26%	+376.3%
FTI	New	TECHNIPFMC PLC	$3,219,000	–	103,000	–	5.04%	–
HCC	Buy	WARRIOR MET COAL INC	$3,118,000	+740.4%	115,299	+756.0%	4.88%	+126.5%
CLR	Buy	CONTINENTAL RESOURCES INC	$3,073,000	+518.3%	45,000	+485.9%	4.81%	+66.6%
TALO	Buy	TALOS ENERGY INC	$3,045,000	+553.4%	92,797	+539.7%	4.77%	+76.1%
REN	Buy	RESOLUTE ENERGY CORP	$3,025,000	+1492.1%	80,000	+1215.8%	4.74%	+329.0%
CPE	New	CALLON PETE CO DEL	$2,937,000	–	245,000	–	4.60%	–
NBR	Buy	NABORS INDUSTRIES LTD	$2,680,000	+648.6%	435,000	+678.1%	4.20%	+101.7%
WPX	Buy	WPX ENERGY INC	$2,313,000	+735.0%	115,000	+647.5%	3.62%	+125.0%
SLB	New	SCHLUMBERGER LTD	$1,985,000	–	32,600	–	3.11%	–
LLEXQ	Buy	LILIS ENERGY INC	$1,917,000	+428.1%	391,115	+460.5%	3.00%	+42.3%
ROSEQ	New	ROSEHILL RES INCcl a	$1,830,000	–	300,000	–	2.86%	–
KEX	New	KIRBY CORP	$1,752,000	–	21,300	–	2.74%	–
COG	Buy	CABOT OIL & GAS CORP	$1,739,000	+423.8%	77,209	+453.5%	2.72%	+41.1%
PAGP	Buy	PLAINS GP HLDGS L Pltd partnr int a	$1,717,000	+474.2%	70,000	+460.0%	2.69%	+54.7%
MPC	New	MARATHON PETE CORP	$1,679,000	–	21,000	–	2.63%	–
ESV	Buy	ENSCO PLC	$1,584,000	+282.6%	187,641	+229.1%	2.48%	+3.1%
METC	Buy	RAMACO RES INC	$1,584,000	+1353.2%	212,358	+1251.2%	2.48%	+291.8%
CRCQQ	Buy	CALIFORNIA RES CORP	$1,504,000	+492.1%	31,000	+454.1%	2.35%	+59.5%
HFC	New	HOLLYFRONTIER CORP	$1,399,000	–	20,000	–	2.19%	–
FANG	New	DIAMONDBACK ENERGY INC	$1,352,000	–	10,000	–	2.12%	–
CLB	Buy	CORE LABORATORIES N V	$1,158,000	+770.7%	10,000	+850.6%	1.81%	+134.5%
EURN	Buy	EURONAV NV ANTWERPEN	$961,000	+330.9%	110,324	+355.2%	1.50%	+16.0%
RDC	New	ROWAN COMPANIES PLC	$941,000	–	50,000	–	1.47%	–
DK	Buy	DELEK US HLDGS INC NEW	$848,000	+109.9%	19,988	+148.4%	1.33%	-43.4%
DNRCQ	New	DENBURY RES INC	$619,000	–	100,000	–	0.97%	–
ROSWQ	New	ROSEHILL RES INCcall	$304,000	–	263,849	–	0.48%	–
WTTR	Sell	SELECT ENERGY SVCS INC	$112,000	-36.4%	9,457	-22.0%	0.18%	-82.9%
ROSWQ	Exit	ROSEHILL RES INC*w exp 09/16/202	$0	–	-48,447	–	-0.34%	–
IBN	Exit	ICICI BK LTDadr	$0	–	-11,000	–	-0.51%	–
PTEN	Exit	PATTERSON UTI ENERGY INC	$0	–	-7,539	–	-0.79%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-1,800	–	-0.88%	–
BW	Exit	BABCOCK & WILCOX ENTERPRIS I	$0	–	-81,400	–	-1.13%	–
MDRIQ	Exit	MCDERMOTT INTL INC	$0	–	-10,800	–	-1.23%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-7,986	–	-1.64%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-10,560	–	-1.86%	–
EQT	Exit	EQT CORP	$0	–	-6,300	–	-2.02%	–
NFX	Exit	NEWFIELD EXPL CO	$0	–	-12,788	–	-2.25%	–
FTI	Exit	FMC TECHNOLOGIES INC	$0	–	-12,723	–	-2.35%	–
RDC	Exit	ROWAN COMPANIES PLC-A	$0	–	-35,979	–	-3.39%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-12,000	–	-11.97%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-24,000	–	-37.82%	–

Q2 2018

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$6,510,000	–	24,000	–	37.82%	–
QQQ	New	INVESCO QQQ TRput	$2,060,000	–	12,000	–	11.97%	–
RDC	New	ROWAN COMPANIES PLC-A	$584,000	–	35,979	–	3.39%	–
CLR	New	CONTINENTAL RESOURCES INC	$497,000	–	7,680	–	2.89%	–
TALO	New	TALOS ENERGY INC	$466,000	–	14,506	–	2.71%	–
ECA	New	ENCANA CORP	$422,000	–	32,331	–	2.45%	–
ESV	New	ENSCO PLC	$414,000	–	57,017	–	2.40%	–
DK	New	DELEK US HLDGS INC NEW	$404,000	–	8,048	–	2.35%	–
FTI	New	FMC TECHNOLOGIES INC	$404,000	–	12,723	–	2.35%	–
NFX	New	NEWFIELD EXPL CO	$387,000	–	12,788	–	2.25%	–
HCC	New	WARRIOR MET COAL INC	$371,000	–	13,470	–	2.16%	–
LLEXQ	New	LILIS ENERGY INC	$363,000	–	69,784	–	2.11%	–
NBR	New	NABORS INDUSTRIES LTD	$358,000	–	55,906	–	2.08%	–
EQT	New	EQT CORP	$348,000	–	6,300	–	2.02%	–
COG	New	CABOT OIL & GAS CORP	$332,000	–	13,950	–	1.93%	–
PE	New	PARSLEY ENERGY INCcl a	$320,000	–	10,560	–	1.86%	–
PAGP	New	PLAINS GP HLDGS L Pltd partnr int a	$299,000	–	12,500	–	1.74%	–
NBL	New	NOBLE ENERGY INC	$282,000	–	7,986	–	1.64%	–
WPX	New	WPX ENERGY INC	$277,000	–	15,385	–	1.61%	–
CRCQQ	New	CALIFORNIA RES CORP	$254,000	–	5,595	–	1.48%	–
EURN	New	EURONAV NV ANTWERPEN	$223,000	–	24,239	–	1.30%	–
MDRIQ	New	MCDERMOTT INTL INC	$212,000	–	10,800	–	1.23%	–
BW	New	BABCOCK & WILCOX ENTERPRIS I	$194,000	–	81,400	–	1.13%	–
REN	New	RESOLUTE ENERGY CORP	$190,000	–	6,080	–	1.10%	–
WLL	New	WHITING PETE CORP NEW	$190,000	–	3,600	–	1.10%	–
WTTR	New	SELECT ENERGY SVCS INC	$176,000	–	12,132	–	1.02%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$151,000	–	1,800	–	0.88%	–
PTEN	New	PATTERSON UTI ENERGY INC	$136,000	–	7,539	–	0.79%	–
CLB	New	CORE LABORATORIES N V	$133,000	–	1,052	–	0.77%	–
METC	New	RAMACO RES INC	$109,000	–	15,716	–	0.63%	–
IBN	New	ICICI BK LTDadr	$88,000	–	11,000	–	0.51%	–
ROSWQ	New	ROSEHILL RES INC*w exp 09/16/202	$58,000	–	48,447	–	0.34%	–

Q4 2017

			Value		Shares		↓ Weighting
ROSWQ	Exit	ROSEHILL RES INCcall	$0	–	-243,939	–	-0.63%	–
WTTR	Exit	SELECT ENERGY SVCS INC	$0	–	-25,000	–	-1.04%	–
MRO	Exit	MARATHON OIL CORP	$0	–	-35,700	–	-1.27%	–
KEGX	Exit	KEY ENERGY SVCS INC DEL	$0	–	-60,000	–	-2.08%	–
RICE	Exit	RICE ENERGY INC	$0	–	-35,000	–	-2.66%	–
FTI	Exit	TECHNIPFMC PLC	$0	–	-50,000	–	-3.67%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-100,000	–	-3.77%	–
SPNV	Exit	SUPERIOR ENERGY SVCS INC	$0	–	-140,000	–	-3.93%	–
LLEXQ	Exit	LILIS ENERGY INC	$0	–	-429,600	–	-5.04%	–
SLCA	Exit	U S SILICA HLDGS INC	$0	–	-63,000	–	-5.14%	–
DK	Exit	DELEK US HLDGS INC NEW	$0	–	-75,000	–	-5.27%	–
ESV	Exit	ENSCO PLC	$0	–	-350,000	–	-5.49%	–
ARCH	Exit	ARCH COAL INCcl a	$0	–	-30,000	–	-5.65%	–
WPX	Exit	WPX ENERGY INC	$0	–	-200,000	–	-6.04%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-60,000	–	-6.09%	–
CRZO	Exit	CARRIZO OIL & GAS INC	$0	–	-141,446	–	-6.36%	–
PUMP	Exit	PROPETRO HLDG CORP	$0	–	-172,307	–	-6.50%	–
HCC	Exit	WARRIOR MET COAL INC	$0	–	-105,000	–	-6.50%	–
KRE	Exit	SPDR SERIES TRUSTput	$0	–	-50,000	–	-7.45%	–
PTEN	Exit	PATTERSON UTI ENERGY INC	$0	–	-140,000	–	-7.70%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-30,000	–	-7.72%	–

Q3 2017

			Value		Shares		↓ Weighting
FANG	Buy	DIAMONDBACK ENERGY INC	$2,939,000	+1172.3%	30,000	+15.4%	7.72%	+143.7%
PTEN	Buy	PATTERSON UTI ENERGY INC	$2,932,000	+3087.0%	140,000	+208.5%	7.70%	+510.2%
KRE	New	SPDR SERIES TRUSTput	$2,838,000	–	50,000	–	7.45%	–
HCC	Sell	WARRIOR MET COAL INC	$2,475,000	+851.9%	105,000	-34.4%	6.50%	+82.3%
PUMP	New	PROPETRO HLDG CORP	$2,473,000	–	172,307	–	6.50%	–
CRZO	New	CARRIZO OIL & GAS INC	$2,423,000	–	141,446	–	6.36%	–
CLR	Buy	CONTINENTAL RESOURCES INC	$2,317,000	+1330.2%	60,000	+20.0%	6.09%	+173.9%
WPX	Buy	WPX ENERGY INC	$2,300,000	+1383.9%	200,000	+25.0%	6.04%	+184.1%
ARCH	New	ARCH COAL INCcl a	$2,152,000	–	30,000	–	5.65%	–
ESV	New	ENSCO PLC	$2,090,000	–	350,000	–	5.49%	–
DK	New	DELEK US HLDGS INC NEW	$2,005,000	–	75,000	–	5.27%	–
SLCA	New	U S SILICA HLDGS INC	$1,957,000	–	63,000	–	5.14%	–
LLEXQ	Sell	LILIS ENERGY INC	$1,920,000	+439.3%	429,600	-10.8%	5.04%	+3.3%
SPNV	New	SUPERIOR ENERGY SVCS INC	$1,497,000	–	140,000	–	3.93%	–
GPORQ	New	GULFPORT ENERGY CORP	$1,434,000	–	100,000	–	3.77%	–
FTI	New	TECHNIPFMC PLC	$1,396,000	–	50,000	–	3.67%	–
RICE	Sell	RICE ENERGY INC	$1,013,000	+322.1%	35,000	-61.1%	2.66%	-19.2%
KEGX	New	KEY ENERGY SVCS INC DEL	$790,000	–	60,000	–	2.08%	–
MRO	New	MARATHON OIL CORP	$484,000	–	35,700	–	1.27%	–
WTTR	Sell	SELECT ENERGY SVCS INC	$398,000	-60.0%	25,000	-75.0%	1.04%	-92.4%
ROSWQ	New	ROSEHILL RES INCcall	$241,000	–	243,939	–	0.63%	–
EGC	Exit	ENERGY XXI GULF COAST INC	$0	–	-40,000	–	-0.18%	–
ROSEQ	Exit	ROSEHILL RES INCcl a	$0	–	-120,509	–	-1.54%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-12,500	–	-2.73%	–
ROSWQ	Exit	ROSEHILL RES INC*w exp 09/16/202	$0	–	-263,924	–	-3.39%	–
IWM	Exit	ISHARES TRput	$0	–	-30,000	–	-57.99%	–

Q2 2017

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$4,228,000	–	30,000	–	57.99%	–
WTTR	New	SELECT ENERGY SVCS INC	$996,000	–	100,000	–	13.66%	–
LLEXQ	New	LILIS ENERGY INC	$356,000	–	481,449	–	4.88%	–
HCC	New	WARRIOR MET COAL INC	$260,000	–	160,000	–	3.57%	–
ROSWQ	New	ROSEHILL RES INC*w exp 09/16/202	$247,000	–	263,924	–	3.39%	–
RICE	New	RICE ENERGY INC	$240,000	–	90,000	–	3.29%	–
FANG	New	DIAMONDBACK ENERGY INC	$231,000	–	26,000	–	3.17%	–
PXD	New	PIONEER NAT RES CO	$199,000	–	12,500	–	2.73%	–
CLR	New	CONTINENTAL RESOURCES INC	$162,000	–	50,000	–	2.22%	–
WPX	New	WPX ENERGY INC	$155,000	–	160,000	–	2.13%	–
ROSEQ	New	ROSEHILL RES INCcl a	$112,000	–	120,509	–	1.54%	–
PTEN	New	PATTERSON UTI ENERGY INC	$92,000	–	45,380	–	1.26%	–
EGC	New	ENERGY XXI GULF COAST INC	$13,000	–	40,000	–	0.18%	–

Q4 2016

			Value		Shares		↓ Weighting
RIG	Exit	TRANSOCEAN LTD	$0	–	-100,000	–	-1.02%	–
XOP	Exit	SPDR SERIES TRUSTput	$0	–	-30,000	–	-1.10%	–
NEBLQ	Exit	NOBLE CORP PLC	$0	–	-200,000	–	-1.21%	–
HES	Exit	HESS CORP	$0	–	-24,596	–	-1.26%	–
ATW	Exit	ATWOOD OCEANICS INC	$0	–	-180,000	–	-1.49%	–
ECA	Exit	ENCANA CORP	$0	–	-150,000	–	-1.50%	–
SPNV	Exit	SUPERIOR ENERGY SVCS INC	$0	–	-90,000	–	-1.54%	–
PAGP	Exit	PLAINS GP HLDGS L P	$0	–	-125,000	–	-1.54%	–
MDR	Exit	MCDERMOTT INTL INC	$0	–	-470,000	–	-2.24%	–
TRGP	Exit	TARGA RES CORP	$0	–	-50,000	–	-2.34%	–
RES	Exit	RPC INC	$0	–	-150,000	–	-2.40%	–
RDSA	Exit	ROYAL DUTCH SHELL PLCspons adr a	$0	–	-55,000	–	-2.62%	–
EGN	Exit	ENERGEN CORP	$0	–	-50,000	–	-2.75%	–
SM	Exit	SM ENERGY CO	$0	–	-85,000	–	-3.12%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-116,672	–	-3.14%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-100,000	–	-3.19%	–
FET	Exit	FORUM ENERGY TECHNOLOGIES IN	$0	–	-200,000	–	-3.79%	–
RICE	Exit	RICE ENERGY INC	$0	–	-155,000	–	-3.86%	–
SYRG	Exit	SYNERGY RES CORP	$0	–	-615,000	–	-4.06%	–
CPE	Exit	CALLON PETE CO DEL	$0	–	-275,000	–	-4.12%	–
WPX	Exit	WPX ENERGY INC	$0	–	-330,000	–	-4.15%	–
CRZO	Exit	CARRIZO OIL & GAS INC	$0	–	-115,000	–	-4.45%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-90,000	–	-4.46%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-35,000	–	-4.48%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-49,100	–	-4.52%	–
CXO	Exit	CONCHO RES INC	$0	–	-37,500	–	-4.91%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-120,000	–	-24.74%	–

Q3 2016

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$25,956,000	+147.8%	120,000	+140.0%	24.74%	+139.2%
FANG	Sell	DIAMONDBACK ENERGY INC	$4,740,000	+1.9%	49,100	-3.7%	4.52%	-1.7%
XEC	Sell	CIMAREX ENERGY CO	$4,703,000	-3.9%	35,000	-14.6%	4.48%	-7.2%
CLR	Sell	CONTINENTAL RESOURCES INC	$4,676,000	-13.9%	90,000	-25.0%	4.46%	-16.9%
CRZO	Sell	CARRIZO OIL & GAS INC	$4,672,000	-6.9%	115,000	-17.9%	4.45%	-10.1%
WPX	Sell	WPX ENERGY INC	$4,352,000	-9.2%	330,000	-35.9%	4.15%	-12.4%
CPE	Sell	CALLON PETE CO DEL	$4,318,000	+3.9%	275,000	-25.7%	4.12%	+0.3%
SYRG	Sell	SYNERGY RES CORP	$4,262,000	-10.5%	615,000	-14.0%	4.06%	-13.6%
RICE	Sell	RICE ENERGY INC	$4,047,000	-8.2%	155,000	-22.5%	3.86%	-11.4%
FET	Buy	FORUM ENERGY TECHNOLOGIES IN	$3,972,000	+35.0%	200,000	+17.6%	3.79%	+30.3%
PE	Sell	PARSLEY ENERGY INCcl a	$3,351,000	-6.6%	100,000	-24.6%	3.19%	-9.9%
GPORQ	Buy	GULFPORT ENERGY CORP	$3,296,000	+5.4%	116,672	+16.7%	3.14%	+1.8%
SM	New	SM ENERGY CO	$3,279,000	–	85,000	–	3.12%	–
EGN	Sell	ENERGEN CORP	$2,886,000	-37.7%	50,000	-47.9%	2.75%	-39.8%
RES	Sell	RPC INC	$2,520,000	-38.8%	150,000	-43.4%	2.40%	-40.9%
TRGP	Sell	TARGA RES CORP	$2,455,000	+5.9%	50,000	-9.1%	2.34%	+2.2%
MDR	Sell	MCDERMOTT INTL INC	$2,355,000	-23.1%	470,000	-24.2%	2.24%	-25.8%
PAGP	New	PLAINS GP HLDGS L P	$1,618,000	–	125,000	–	1.54%	–
SPNV	Sell	SUPERIOR ENERGY SVCS INC	$1,611,000	-56.2%	90,000	-55.0%	1.54%	-57.8%
ECA	New	ENCANA CORP	$1,571,000	–	150,000	–	1.50%	–
ATW	Buy	ATWOOD OCEANICS INC	$1,565,000	+20.8%	180,000	+74.0%	1.49%	+16.7%
HES	New	HESS CORP	$1,319,000	–	24,596	–	1.26%	–
NEBLQ	New	NOBLE CORP PLC	$1,268,000	–	200,000	–	1.21%	–
XOP	New	SPDR SERIES TRUSTput	$1,154,000	–	30,000	–	1.10%	–
RIG	New	TRANSOCEAN LTD	$1,066,000	–	100,000	–	1.02%	–
CJESQ	Exit	C&J ENERGY SVCS LTD	$0	–	-800,000	–	-0.48%	–
FMSA	Exit	FAIRMOUNT SANTROL HLDGS INC	$0	–	-130,000	–	-0.99%	–
EQT	Exit	EQT CORP	$0	–	-21,500	–	-1.64%	–
XRT	Exit	SPDR SERIES TRUSTput	$0	–	-70,000	–	-2.90%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-370,000	–	-3.38%	–
IWM	Exit	ISHARES TRput	$0	–	-60,000	–	-6.81%	–

Q2 2016

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$10,474,000	–	50,000	–	10.34%	–
IWM	New	ISHARES TRput	$6,899,000	–	60,000	–	6.81%	–
CLR	New	CONTINENTAL RESOURCES INC	$5,432,000	–	120,000	–	5.36%	–
CRZO	New	CARRIZO OIL & GAS INC	$5,019,000	–	140,000	–	4.96%	–
XEC	New	CIMAREX ENERGY CO	$4,892,000	–	41,000	–	4.83%	–
WPX	New	WPX ENERGY INC	$4,795,000	–	515,000	–	4.74%	–
SYRG	New	SYNERGY RES CORP	$4,762,000	–	715,000	–	4.70%	–
FANG	New	DIAMONDBACK ENERGY INC	$4,652,000	–	51,000	–	4.59%	–
EGN	New	ENERGEN CORP	$4,631,000	–	96,050	–	4.57%	–
CXO	New	CONCHO RES INC	$4,473,000	–	37,500	–	4.42%	–
RICE	New	RICE ENERGY INC	$4,408,000	–	200,000	–	4.35%	–
CPE	New	CALLON PETE CO DEL	$4,155,000	–	370,000	–	4.10%	–
RES	New	RPC INC	$4,115,000	–	265,000	–	4.06%	–
SPNV	New	SUPERIOR ENERGY SVCS INC	$3,682,000	–	200,000	–	3.64%	–
PE	New	PARSLEY ENERGY INCcl a	$3,588,000	–	132,599	–	3.54%	–
WLL	New	WHITING PETE CORP NEW	$3,426,000	–	370,000	–	3.38%	–
GPORQ	New	GULFPORT ENERGY CORP	$3,126,000	–	100,000	–	3.09%	–
MDR	New	MCDERMOTT INTL INC	$3,063,000	–	620,000	–	3.02%	–
RDSA	New	ROYAL DUTCH SHELL PLCspons adr a	$3,038,000	–	55,000	–	3.00%	–
FET	New	FORUM ENERGY TECHNOLOGIES IN	$2,943,000	–	170,000	–	2.91%	–
XRT	New	SPDR SERIES TRUSTput	$2,937,000	–	70,000	–	2.90%	–
TRGP	New	TARGA RES CORP	$2,318,000	–	55,000	–	2.29%	–
EQT	New	EQT CORP	$1,665,000	–	21,500	–	1.64%	–
ATW	New	ATWOOD OCEANICS INC	$1,295,000	–	103,440	–	1.28%	–
FMSA	New	FAIRMOUNT SANTROL HLDGS INC	$1,002,000	–	130,000	–	0.99%	–
CJESQ	New	C&J ENERGY SVCS LTD	$482,000	–	800,000	–	0.48%	–

Q4 2015

			Value		Shares		↓ Weighting
STNG	Exit	SCORPIO TANKERS INC	$0	–	-45,000	–	-1.12%	–
WPX	Exit	WPX ENERGY INC	$0	–	-85,000	–	-1.54%	–
SLCA	Exit	U S SILICA HLDGS INC	$0	–	-40,000	–	-1.54%	–
HFC	Exit	HOLLYFRONTIER CORP	$0	–	-15,000	–	-2.00%	–
CJESQ	Exit	C&J ENERGY SVCS LTD	$0	–	-225,000	–	-2.16%	–
DHT	Exit	DHT HOLDINGS INC	$0	–	-125,000	–	-2.53%	–
DSX	Exit	DIANA SHIPPING INC	$0	–	-145,000	–	-2.56%	–
MDR	Exit	MCDERMOTT INTL INC	$0	–	-229,470	–	-2.69%	–
STLD	Exit	STEEL DYNAMICS INC	$0	–	-65,000	–	-3.05%	–
SXC	Exit	SUNCOKE ENERGY INC	$0	–	-145,000	–	-3.08%	–
CXO	Exit	CONCHO RES INC	$0	–	-12,500	–	-3.35%	–
ECA	Exit	ENCANA CORP	$0	–	-230,000	–	-4.04%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-52,500	–	-4.25%	–
CRZO	Exit	CARRIZO OIL & GAS INC	$0	–	-55,000	–	-4.58%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-18,000	–	-5.03%	–
SYRG	Exit	SYNERGY RES CORP	$0	–	-207,500	–	-5.55%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-32,500	–	-5.73%	–
EOG	Exit	EOG RES INC	$0	–	-30,000	–	-5.96%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-75,000	–	-39.22%	–

Q3 2015

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$14,373,000	–	75,000	–	39.22%	–
EOG	New	EOG RES INC	$2,184,000	–	30,000	–	5.96%	–
FANG	Buy	DIAMONDBACK ENERGY INC	$2,100,000	-7.1%	32,500	+8.3%	5.73%	+9.6%
SYRG	Buy	SYNERGY RES CORP	$2,034,000	-5.1%	207,500	+10.7%	5.55%	+12.1%
XEC	Sell	CIMAREX ENERGY CO	$1,845,000	-18.4%	18,000	-12.2%	5.03%	-3.7%
CRZO	Buy	CARRIZO OIL & GAS INC	$1,680,000	-24.2%	55,000	+22.2%	4.58%	-10.5%
GPORQ	Sell	GULFPORT ENERGY CORP	$1,558,000	-32.7%	52,500	-8.7%	4.25%	-20.5%
ECA	Buy	ENCANA CORP	$1,481,000	+45.3%	230,000	+148.6%	4.04%	+71.6%
CXO	Sell	CONCHO RES INC	$1,229,000	-43.2%	12,500	-34.2%	3.35%	-32.9%
SXC	Sell	SUNCOKE ENERGY INC	$1,128,000	-58.7%	145,000	-30.9%	3.08%	-51.2%
STLD	Sell	STEEL DYNAMICS INC	$1,117,000	-40.1%	65,000	-27.8%	3.05%	-29.3%
MDR	Buy	MCDERMOTT INTL INC	$987,000	-8.9%	229,470	+13.4%	2.69%	+7.6%
DHT	New	DHT HOLDINGS INC	$928,000	–	125,000	–	2.53%	–
CJESQ	New	C&J ENERGY SVCS LTD	$792,000	–	225,000	–	2.16%	–
HFC	New	HOLLYFRONTIER CORP	$733,000	–	15,000	–	2.00%	–
WPX	New	WPX ENERGY INC	$563,000	–	85,000	–	1.54%	–
STNG	Sell	SCORPIO TANKERS INC	$412,000	-82.2%	45,000	-80.4%	1.12%	-79.0%
WLBAQ	Exit	WESTMORELAND COAL CO	$0	–	-15,000	–	-0.72%	–
GTLS	Exit	CHART INDS INC	$0	–	-20,000	–	-1.65%	–
EURN	Exit	EURONAV NV ANTWERPEN	$0	–	-65,000	–	-2.23%	–
CAM	Exit	CAMERON INTERNATIONAL CORP	$0	–	-20,000	–	-2.42%	–
DK	Exit	DELEK US HLDGS INC	$0	–	-35,000	–	-2.98%	–
MT	Exit	ARCELORMITTAL SA LUXEMBOURGny registry sh	$0	–	-133,000	–	-2.99%	–
RES	Exit	RPC INC	$0	–	-110,000	–	-3.52%	–
SPNV	Exit	SUPERIOR ENERGY SVCS INC	$0	–	-100,000	–	-4.86%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-36,000	–	-4.95%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-65,000	–	-5.05%	–
BHP	Exit	BHP BILLITON LTDsponsored adr	$0	–	-61,000	–	-5.74%	–
TK	Exit	TEEKAY CORPORATION	$0	–	-61,578	–	-6.10%	–

Q2 2015

			Value		Shares		↓ Weighting
SXC	New	SUNCOKE ENERGY INC	$2,729,000	–	209,800	–	6.31%	–
TK	New	TEEKAY CORPORATION	$2,637,000	–	61,578	–	6.10%	–
BHP	New	BHP BILLITON LTDsponsored adr	$2,483,000	–	61,000	–	5.74%	–
STNG	New	SCORPIO TANKERS INC	$2,318,000	–	230,000	–	5.36%	–
GPORQ	New	GULFPORT ENERGY CORP	$2,314,000	–	57,500	–	5.35%	–
FANG	New	DIAMONDBACK ENERGY INC	$2,261,000	–	30,000	–	5.23%	–
XEC	New	CIMAREX ENERGY CO	$2,261,000	–	20,500	–	5.23%	–
CRZO	New	CARRIZO OIL & GAS INC	$2,216,000	–	45,000	–	5.12%	–
WLL	New	WHITING PETE CORP NEW	$2,186,000	–	65,000	–	5.05%	–
CXO	New	CONCHO RES INC	$2,164,000	–	19,000	–	5.00%	–
SYRG	New	SYNERGY RES CORP	$2,143,000	–	187,500	–	4.95%	–
DVN	New	DEVON ENERGY CORP NEW	$2,142,000	–	36,000	–	4.95%	–
SPNV	New	SUPERIOR ENERGY SVCS INC	$2,104,000	–	100,000	–	4.86%	–
STLD	New	STEEL DYNAMICS INC	$1,864,000	–	90,000	–	4.31%	–
RES	New	RPC INC	$1,521,000	–	110,000	–	3.52%	–
MT	New	ARCELORMITTAL SA LUXEMBOURGny registry sh	$1,293,000	–	133,000	–	2.99%	–
DK	New	DELEK US HLDGS INC	$1,289,000	–	35,000	–	2.98%	–
SLCA	New	U S SILICA HLDGS INC	$1,176,000	–	40,000	–	2.72%	–
MDR	New	MCDERMOTT INTL INC	$1,083,000	–	202,300	–	2.50%	–
CAM	New	CAMERON INTERNATIONAL CORP	$1,048,000	–	20,000	–	2.42%	–
DSX	New	DIANA SHIPPING INC	$1,022,000	–	145,000	–	2.36%	–
ECA	New	ENCANA CORP	$1,019,000	–	92,500	–	2.36%	–
EURN	New	EURONAV NV ANTWERPEN	$963,000	–	65,000	–	2.23%	–
GTLS	New	CHART INDS INC	$715,000	–	20,000	–	1.65%	–
WLBAQ	New	WESTMORELAND COAL CO	$312,000	–	15,000	–	0.72%	–

Q4 2014

			Value		Shares		↓ Weighting
BALT	Exit	BALTIC TRADING LIMITED	$0	–	-81,800	–	-0.63%	–
BCEI	Exit	BONANZA CREEK ENERGY INC	$0	–	-10,000	–	-1.06%	–
SYRG	Exit	SYNERGY RES CORP	$0	–	-50,000	–	-1.14%	–
ASC	Exit	ARDMORE SHIPPING CORP	$0	–	-61,355	–	-1.24%	–
WFTIQ	Exit	WEATHERFORD INTL PLC	$0	–	-33,000	–	-1.28%	–
WPX	Exit	WPX ENERGY INC	$0	–	-30,000	–	-1.34%	–
SGY	Exit	STONE ENERGY CORP	$0	–	-25,000	–	-1.46%	–
HBM	Exit	HUDBAY MINERALS INC	$0	–	-100,000	–	-1.59%	–
ECR	Exit	ECLIPSE RES CORP	$0	–	-55,000	–	-1.70%	–
GLNG	Exit	GOLAR LNG LTD BERMUDA	$0	–	-15,000	–	-1.85%	–
DSX	Exit	DIANA SHIPPING INC	$0	–	-115,000	–	-1.91%	–
TTM	Exit	TATA MTRS LTDput	$0	–	-24,000	–	-1.95%	–
STLD	Exit	STEEL DYNAMICS INC	$0	–	-50,000	–	-2.10%	–
DK	Exit	DELEK US HLDGS INC	$0	–	-35,000	–	-2.16%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-12,800	–	-2.42%	–
CCJ	Exit	CAMECO CORP	$0	–	-100,000	–	-3.29%	–
CRZO	Exit	CARRIZO OIL & GAS INC	$0	–	-34,665	–	-3.47%	–
TNP	Exit	TSAKOS ENERGY NAVIGATION LTD	$0	–	-306,644	–	-3.64%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-16,000	–	-3.77%	–
EPI	Exit	WISDOMTREE TRput	$0	–	-100,000	–	-4.08%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-31,400	–	-4.37%	–
EEM	Exit	ISHARES TRput	$0	–	-61,900	–	-4.78%	–
WNR	Exit	WESTERN REFNG INC	$0	–	-65,000	–	-5.08%	–
IWM	Exit	ISHARES TRput	$0	–	-30,000	–	-6.10%	–
WLBAQ	Exit	WESTMORELAND COAL CO	$0	–	-101,207	–	-7.04%	–
PKX	Exit	POSCOsponsored adr	$0	–	-53,500	–	-7.56%	–
XOP	Exit	SPDR SERIES TRUSTput	$0	–	-85,500	–	-10.95%	–
SXC	Exit	SUNCOKE ENERGY INC	$0	–	-288,400	–	-12.05%	–

Q3 2014

			Value		Shares		↓ Weighting
SXC	Buy	SUNCOKE ENERGY INC	$6,475,000	+23.7%	288,400	+18.5%	12.05%	+46.3%
XOP	Buy	SPDR SERIES TRUSTput	$5,885,000	+78.8%	85,500	+113.8%	10.95%	+111.4%
WLBAQ	Buy	WESTMORELAND COAL CO	$3,786,000	+124.4%	101,207	+117.6%	7.04%	+165.3%
IWM	Buy	ISHARES TRput	$3,281,000	+38.1%	30,000	+50.0%	6.10%	+63.3%
WNR	New	WESTERN REFNG INC	$2,729,000	–	65,000	–	5.08%	–
EEM	New	ISHARES TRput	$2,572,000	–	61,900	–	4.78%	–
FANG	Buy	DIAMONDBACK ENERGY INC	$2,348,000	+32.2%	31,400	+57.0%	4.37%	+56.3%
EPI	New	WISDOMTREE TRput	$2,191,000	–	100,000	–	4.08%	–
XEC	Sell	CIMAREX ENERGY CO	$2,024,000	-29.2%	16,000	-19.7%	3.77%	-16.3%
CRZO	Buy	CARRIZO OIL & GAS INC	$1,866,000	+9.3%	34,665	+40.5%	3.47%	+29.2%
CCJ	New	CAMECO CORP	$1,766,000	–	100,000	–	3.29%	–
APC	Buy	ANADARKO PETE CORP	$1,298,000	+18.5%	12,800	+28.0%	2.42%	+40.2%
DK	New	DELEK US HLDGS INC	$1,159,000	–	35,000	–	2.16%	–
STLD	Sell	STEEL DYNAMICS INC	$1,131,000	-64.5%	50,000	-71.8%	2.10%	-58.0%
TTM	New	TATA MTRS LTDput	$1,049,000	–	24,000	–	1.95%	–
DSX	New	DIANA SHIPPING INC	$1,029,000	–	115,000	–	1.91%	–
GLNG	Buy	GOLAR LNG LTD BERMUDA	$996,000	+230.9%	15,000	+200.0%	1.85%	+290.9%
ECR	New	ECLIPSE RES CORP	$914,000	–	55,000	–	1.70%	–
HBM	New	HUDBAY MINERALS INC	$854,000	–	100,000	–	1.59%	–
SGY	Sell	STONE ENERGY CORP	$784,000	-72.1%	25,000	-58.5%	1.46%	-67.1%
WPX	New	WPX ENERGY INC	$722,000	–	30,000	–	1.34%	–
WFTIQ	New	WEATHERFORD INTL PLC	$686,000	–	33,000	–	1.28%	–
SYRG	Sell	SYNERGY RES CORP	$610,000	-77.0%	50,000	-75.0%	1.14%	-72.8%
BCEI	Sell	BONANZA CREEK ENERGY INC	$569,000	-49.7%	10,000	-49.5%	1.06%	-40.5%
BALT	New	BALTIC TRADING LIMITED	$339,000	–	81,800	–	0.63%	–
PVAHQ	Exit	PENN VA CORP	$0	–	-42,000	–	-1.12%	–
CNQ	Exit	CANADIAN NAT RES LTD	$0	–	-20,000	–	-1.44%	–
CLDPQ	Exit	CLOUD PEAK ENERGY INC	$0	–	-76,000	–	-2.20%	–
CRK	Exit	COMSTOCK RES INC	$0	–	-50,000	–	-2.27%	–
KOG	Exit	KODIAK OIL & GAS CORP	$0	–	-110,000	–	-2.52%	–
OASPQ	Exit	OASIS PETE INC NEW	$0	–	-30,000	–	-2.64%	–
GDPMQ	Exit	GOODRICH PETE CORP	$0	–	-73,598	–	-3.20%	–
STNG	Exit	SCORPIO TANKERS INC	$0	–	-206,188	–	-3.30%	–
HOSSQ	Exit	HORNBECK OFFSHORE SVCS INC N	$0	–	-45,000	–	-3.32%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-105,000	–	-3.98%	–
SCCO	Exit	SOUTHERN COPPER CORP	$0	–	-154,984	–	-7.41%	–
CNX	Exit	CONSOL ENERGY INC	$0	–	-115,782	–	-8.39%	–

Q2 2014

			Value		Shares		↓ Weighting
CNX	New	CONSOL ENERGY INC	$5,334,000	–	115,782	–	8.39%	–
SXC	New	SUNCOKE ENERGY INC	$5,233,000	–	243,400	–	8.24%	–
SCCO	New	SOUTHERN COPPER CORP	$4,707,000	–	154,984	–	7.41%	–
PKX	New	POSCOsponsored adr	$3,983,000	–	53,500	–	6.27%	–
XOP	New	SPDR SERIES TRUSTput	$3,291,000	–	40,000	–	5.18%	–
STLD	New	STEEL DYNAMICS INC	$3,183,000	–	177,352	–	5.01%	–
XEC	New	CIMAREX ENERGY CO	$2,858,000	–	19,920	–	4.50%	–
SGY	New	STONE ENERGY CORP	$2,815,000	–	60,171	–	4.43%	–
SYRG	New	SYNERGY RES CORP	$2,650,000	–	200,000	–	4.17%	–
PE	New	PARSLEY ENERGY INCcl a	$2,527,000	–	105,000	–	3.98%	–
IWM	New	ISHARESput	$2,376,000	–	20,000	–	3.74%	–
HOSSQ	New	HORNBECK OFFSHORE SVCS INC N	$2,111,000	–	45,000	–	3.32%	–
STNG	New	SCORPIO TANKERS INC	$2,097,000	–	206,188	–	3.30%	–
TNP	New	TSAKOS ENERGY NAVIGATION LTD	$2,051,000	–	306,644	–	3.23%	–
GDPMQ	New	GOODRICH PETE CORP	$2,031,000	–	73,598	–	3.20%	–
FANG	New	DIAMONDBACK ENERGY INC	$1,776,000	–	20,000	–	2.80%	–
CRZO	New	CARRIZO OIL & GAS INC	$1,708,000	–	24,665	–	2.69%	–
WLBAQ	New	WESTMORELAND COAL CO	$1,687,000	–	46,500	–	2.66%	–
OASPQ	New	OASIS PETE INC NEW	$1,677,000	–	30,000	–	2.64%	–
KOG	New	KODIAK OIL & GAS CORP	$1,601,000	–	110,000	–	2.52%	–
CRK	New	COMSTOCK RES INC	$1,442,000	–	50,000	–	2.27%	–
CLDPQ	New	CLOUD PEAK ENERGY INC	$1,400,000	–	76,000	–	2.20%	–
BCEI	New	BONANZA CREEK ENERGY INC	$1,132,000	–	19,800	–	1.78%	–
APC	New	ANADARKO PETE CORP	$1,095,000	–	10,000	–	1.72%	–
CNQ	New	CANADIAN NAT RES LTD	$918,000	–	20,000	–	1.44%	–
ASC	New	ARDMORE SHIPPING CORP	$849,000	–	61,355	–	1.34%	–
PVAHQ	New	PENN VA CORP	$712,000	–	42,000	–	1.12%	–
GLNG	New	GOLAR LNG LTD BERMUDA	$301,000	–	5,000	–	0.47%	–

Q4 2013

			Value		Shares		↓ Weighting
IEO	Exit	ISHARESus oil&gs ex etf	$0	–	-4,000	–	-0.44%	–
GPORQ	Exit	GULFPORT ENERGY CORPcall	$0	–	-10,000	–	-0.91%	–
TLM	Exit	TALISMAN ENERGY INC	$0	–	-62,240	–	-1.01%	–
XOP	Exit	SPDR SERIES TRUSTs&p oilgas exp	$0	–	-11,500	–	-1.07%	–
SYRG	Exit	SYNERGY RES CORP	$0	–	-91,000	–	-1.25%	–
PGHEF	Exit	PENGROWTH ENERGY CORP	$0	–	-200,000	–	-1.67%	–
GDPMQ	Exit	GOODRICH PETE CORP	$0	–	-50,000	–	-1.72%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-20,000	–	-1.76%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-13,500	–	-1.77%	–
EOG	Exit	EOG RES INC	$0	–	-7,500	–	-1.80%	–
PSX	Exit	PHILLIPS 66	$0	–	-22,500	–	-1.84%	–
CJES	Exit	C&J ENERGY SVCS INC	$0	–	-65,000	–	-1.84%	–
EXH	Exit	EXTERRAN HLDGS INC	$0	–	-47,500	–	-1.85%	–
BCEI	Exit	BONANZA CREEK ENERGY INC	$0	–	-27,500	–	-1.88%	–
HLX	Exit	HELIX ENERGY SOLUTIONS GRP I	$0	–	-52,500	–	-1.88%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-11,000	–	-1.89%	–
PBF	Exit	PBF ENERGY INCcl a	$0	–	-60,000	–	-1.90%	–
OASPQ	Exit	OASIS PETE INC NEW	$0	–	-27,500	–	-1.91%	–
WNR	Exit	WESTERN REFNG INC	$0	–	-45,000	–	-1.91%	–
STO	Exit	STATOIL ASAsponsored adr	$0	–	-60,000	–	-1.92%	–
ROSE	Exit	ROSETTA RESOURCES INC	$0	–	-25,000	–	-1.92%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-20,000	–	-1.96%	–
RES	Exit	RPC INC	$0	–	-90,000	–	-1.97%	–
REXX	Exit	REX ENERGY CORPORATION	$0	–	-62,500	–	-1.97%	–
OXY	Exit	OCCIDENTAL PETE CORP DEL	$0	–	-15,000	–	-1.98%	–
NR	Exit	NEWPARK RES INC	$0	–	-115,000	–	-2.06%	–
IOC	Exit	INTEROIL CORP	$0	–	-20,781	–	-2.09%	–
OIS	Exit	OIL STS INTL INC	$0	–	-15,000	–	-2.19%	–
XLE	Exit	SELECT SECTOR SPDR TRsbi int-energy	$0	–	-25,000	–	-2.93%	–
XEC	Exit	CIMAREX ENERGY CO	$0	–	-24,105	–	-3.28%	–
CRZO	Exit	CARRIZO OIL & GAS INC	$0	–	-72,500	–	-3.82%	–
KOG	Exit	KODIAK OIL & GAS CORP	$0	–	-228,900	–	-3.90%	–
FANG	Exit	DIAMONDBACK ENERGY INC	$0	–	-70,800	–	-4.27%	–
SXC	Exit	SUNCOKE ENERGY INC	$0	–	-191,307	–	-4.60%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-20,000	–	-4.75%	–
FCX	Exit	FREEPORT-MCMORAN COPPER & GO	$0	–	-154,050	–	-7.20%	–
CNX	Exit	CONSOL ENERGY INC	$0	–	-154,441	–	-7.34%	–
GPORQ	Exit	GULFPORT ENERGY CORP	$0	–	-104,799	–	-9.53%	–

Q3 2013

			Value		Shares		↓ Weighting
GPORQ	Buy	GULFPORT ENERGY CORP	$6,743,000	+43.5%	104,799	+5.0%	9.53%	+38.1%
FCX	Buy	FREEPORT-MCMORAN COPPER & GO	$5,096,000	+294.7%	154,050	+229.5%	7.20%	+280.0%
SPY	New	SPDR S&P 500 ETF TRput	$3,360,000	–	20,000	–	4.75%	–
SXC	New	SUNCOKE ENERGY INC	$3,252,000	–	191,307	–	4.60%	–
FANG	Buy	DIAMONDBACK ENERGY INC	$3,019,000	+48.5%	70,800	+16.1%	4.27%	+42.9%
KOG	Buy	KODIAK OIL & GAS CORP	$2,761,000	+67.1%	228,900	+23.1%	3.90%	+60.8%
CRZO	Buy	CARRIZO OIL & GAS INC	$2,704,000	+281.9%	72,500	+190.0%	3.82%	+267.4%
XEC	Buy	CIMAREX ENERGY CO	$2,324,000	+164.7%	24,105	+78.5%	3.28%	+154.8%
XLE	Buy	SELECT SECTOR SPDR TRsbi int-energy	$2,073,000	+32.4%	25,000	+25.0%	2.93%	+27.4%
OIS	New	OIL STS INTL INC	$1,552,000	–	15,000	–	2.19%	–
IOC	Buy	INTEROIL CORP	$1,482,000	+56.5%	20,781	+52.5%	2.09%	+50.6%
NR	New	NEWPARK RES INC	$1,456,000	–	115,000	–	2.06%	–
OXY	Buy	OCCIDENTAL PETE CORP DEL	$1,403,000	+25.8%	15,000	+20.0%	1.98%	+21.1%
REXX	Sell	REX ENERGY CORPORATION	$1,395,000	+22.0%	62,500	-3.8%	1.97%	+17.5%
RES	Buy	RPC INC	$1,392,000	+18.6%	90,000	+5.9%	1.97%	+14.1%
COP	New	CONOCOPHILLIPS	$1,390,000	–	20,000	–	1.96%	–
STO	Buy	STATOIL ASAsponsored adr	$1,361,000	+31.5%	60,000	+20.0%	1.92%	+26.5%
WNR	Buy	WESTERN REFNG INC	$1,352,000	+28.4%	45,000	+20.0%	1.91%	+23.5%
OASPQ	Sell	OASIS PETE INC NEW	$1,351,000	+21.9%	27,500	-3.5%	1.91%	+17.3%
PBF	New	PBF ENERGY INCcl a	$1,347,000	–	60,000	–	1.90%	–
CVX	Buy	CHEVRON CORP NEW	$1,337,000	+13.0%	11,000	+10.0%	1.89%	+8.8%
HLX	New	HELIX ENERGY SOLUTIONS GRP I	$1,332,000	–	52,500	–	1.88%	–
BCEI	New	BONANZA CREEK ENERGY INC	$1,327,000	–	27,500	–	1.88%	–
EXH	Buy	EXTERRAN HLDGS INC	$1,310,000	+19.4%	47,500	+21.8%	1.85%	+14.9%
CJES	Buy	C&J ENERGY SVCS INC	$1,305,000	+12.3%	65,000	+8.3%	1.84%	+8.1%
PSX	Buy	PHILLIPS 66	$1,301,000	+22.7%	22,500	+25.0%	1.84%	+18.1%
APC	New	ANADARKO PETE CORP	$1,255,000	–	13,500	–	1.77%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING IN	$1,246,000	–	20,000	–	1.76%	–
GDPMQ	New	GOODRICH PETE CORP	$1,215,000	–	50,000	–	1.72%	–
PGHEF	New	PENGROWTH ENERGY CORP	$1,184,000	–	200,000	–	1.67%	–
XOP	New	SPDR SERIES TRUSTs&p oilgas exp	$757,000	–	11,500	–	1.07%	–
GPORQ	New	GULFPORT ENERGY CORPcall	$643,000	–	10,000	–	0.91%	–
IEO	Buy	ISHARESus oil&gs ex etf	$312,000	+24.3%	4,000	+14.3%	0.44%	+19.5%
VTGDF	Exit	VANTAGE DRILLING COMPANY	$0	–	-367,052	–	-1.10%	–
WPX	Exit	WPX ENERGY INC	$0	–	-55,000	–	-1.53%	–
ECA	Exit	ENCANA CORP	$0	–	-62,500	–	-1.56%	–
PTEN	Exit	PATTERSON UTI ENERGY INC	$0	–	-55,000	–	-1.56%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-52,500	–	-1.57%	–
IO	Exit	ION GEOPHYSICAL CORP	$0	–	-185,000	–	-1.64%	–
DXJ	Exit	WISDOMTREE TRUSTcall	$0	–	-25,000	–	-1.67%	–
HAL	Exit	HALLIBURTON CO	$0	–	-27,500	–	-1.68%	–
WFT	Exit	WEATHERFORD INTERNATIONAL LT	$0	–	-85,000	–	-1.71%	–
RDC	Exit	ROWAN COMPANIES PLC	$0	–	-35,000	–	-1.75%	–
CAM	Exit	CAMERON INTERNATIONAL CORP	$0	–	-20,000	–	-1.80%	–
HK	Exit	HALCON RES CORP	$0	–	-225,000	–	-1.87%	–
GLNG	Exit	GOLAR LNG LTD BERMUDA	$0	–	-45,650	–	-2.14%	–
HEROQ	Exit	HERCULES OFFSHORE INC	$0	–	-240,300	–	-2.48%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-31,280	–	-3.26%	–
IWM	Exit	ISHARES TRput	$0	–	-25,000	–	-3.56%	–
DSX	Exit	DIANA SHIPPING INC	$0	–	-300,387	–	-4.43%	–
NUE	Exit	NUCOR CORP	$0	–	-97,175	–	-6.18%	–
STNG	Exit	SCORPIO TANKERS INC	$0	–	-788,123	–	-10.39%	–

Q2 2013

			Value		Shares		↓ Weighting
STNG	New	SCORPIO TANKERS INC	$7,077,000	–	788,123	–	10.39%	–
GPORQ	New	GULFPORT ENERGY CORP	$4,700,000	–	99,799	–	6.90%	–
NUE	New	NUCOR CORP	$4,210,000	–	97,175	–	6.18%	–
CNX	New	CONSOL ENERGY INC	$4,185,000	–	154,441	–	6.14%	–
DSX	New	DIANA SHIPPING INC	$3,016,000	–	300,387	–	4.43%	–
IWM	New	ISHARES TRput	$2,425,000	–	25,000	–	3.56%	–
COG	New	CABOT OIL & GAS CORP	$2,222,000	–	31,280	–	3.26%	–
FANG	New	DIAMONDBACK ENERGY INC	$2,033,000	–	61,000	–	2.98%	–
HEROQ	New	HERCULES OFFSHORE INC	$1,692,000	–	240,300	–	2.48%	–
KOG	New	KODIAK OIL & GAS CORP	$1,652,000	–	185,875	–	2.43%	–
XLE	New	SELECT SECTOR SPDR TRsbi int-energy	$1,566,000	–	20,000	–	2.30%	–
GLNG	New	GOLAR LNG LTD BERMUDA	$1,456,000	–	45,650	–	2.14%	–
FCX	New	FREEPORT-MCMORAN COPPER & GO	$1,291,000	–	46,750	–	1.90%	–
HK	New	HALCON RES CORP	$1,276,000	–	225,000	–	1.87%	–
CAM	New	CAMERON INTERNATIONAL CORP	$1,223,000	–	20,000	–	1.80%	–
RDC	New	ROWAN COMPANIES PLC	$1,192,000	–	35,000	–	1.75%	–
CVX	New	CHEVRON CORP NEW	$1,183,000	–	10,000	–	1.74%	–
RES	New	RPC INC	$1,174,000	–	85,000	–	1.72%	–
WFT	New	WEATHERFORD INTERNATIONAL LT	$1,165,000	–	85,000	–	1.71%	–
CJES	New	C&J ENERGY SVCS INC	$1,162,000	–	60,000	–	1.71%	–
HAL	New	HALLIBURTON CO	$1,147,000	–	27,500	–	1.68%	–
REXX	New	REX ENERGY CORPORATION	$1,143,000	–	65,000	–	1.68%	–
DXJ	New	WISDOMTREE TRUSTcall	$1,140,000	–	25,000	–	1.67%	–
OXY	New	OCCIDENTAL PETE CORP DEL	$1,115,000	–	12,500	–	1.64%	–
IO	New	ION GEOPHYSICAL CORP	$1,114,000	–	185,000	–	1.64%	–
OASPQ	New	OASIS PETE INC NEW	$1,108,000	–	28,500	–	1.63%	–
EXH	New	EXTERRAN HLDGS INC	$1,097,000	–	39,000	–	1.61%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,070,000	–	52,500	–	1.57%	–
PTEN	New	PATTERSON UTI ENERGY INC	$1,065,000	–	55,000	–	1.56%	–
ROSE	New	ROSETTA RESOURCES INC	$1,063,000	–	25,000	–	1.56%	–
PSX	New	PHILLIPS 66	$1,060,000	–	18,000	–	1.56%	–
ECA	New	ENCANA CORP	$1,059,000	–	62,500	–	1.56%	–
WNR	New	WESTERN REFNG INC	$1,053,000	–	37,500	–	1.55%	–
WPX	New	WPX ENERGY INC	$1,042,000	–	55,000	–	1.53%	–
STO	New	STATOIL ASAsponsored adr	$1,035,000	–	50,000	–	1.52%	–
EOG	New	EOG RES INC	$988,000	–	7,500	–	1.45%	–
IOC	New	INTEROIL CORP	$947,000	–	13,631	–	1.39%	–
XEC	New	CIMAREX ENERGY CO	$878,000	–	13,505	–	1.29%	–
VTGDF	New	VANTAGE DRILLING COMPANY	$749,000	–	367,052	–	1.10%	–
TLM	New	TALISMAN ENERGY INC	$711,000	–	62,240	–	1.04%	–
CRZO	New	CARRIZO OIL & GAS INC	$708,000	–	25,000	–	1.04%	–
SYRG	New	SYNERGY RES CORP	$666,000	–	91,000	–	0.98%	–
IEO	New	ISHARES TRdj oil&gas exp	$251,000	–	3,500	–	0.37%	–

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