Quarter Ending 12/31/2008			Back to the Enlightened American Website
	Boone Pickens (BP Capital)
			*****  NEW POSITIONS TAKEN
	% pos ch	% val ch	Change	COMPANY	Cur. Pos.	Prev. Pos.	Approx PPS	Prev PPS	Value	Prev Value
	N/A	N/A		CHESAPEAKE ENERGY CORP	100,000		$16.17		$1,617,000
	N/A	N/A		PEABODY ENERGY CORP	100,000		$22.75		$2,275,000
			*****  SOLD OFF
	% pos ch	% val ch	Change	COMPANY	Cur. Pos.	Prev. Pos.	Approx PPS	Prev PPS	Value	Prev Value
	N/A	N/A		ABB LTD		2,247,828		$19.40		$43,608,000
	N/A	N/A		BPZ RESOURCES INC		970,741		$17.20		$16,697,000
	N/A	N/A		CHEVRON CORP NEW		442,062		$82.48		$36,461,000
	N/A	N/A		CLEAN ENERGY FUELS CORP		396,464		$14.15		$5,610,000
	N/A	N/A		DRESSER-RAND GROUP INC		210,307		$31.47		$6,618,000
	N/A	N/A		FLUOR CORP NEW		912,329		$55.70		$50,817,000
	N/A	N/A		GREENBRIER COMPANIES INC		584,188		$19.51		$11,398,000
	N/A	N/A		HALLIBURTON CO		2,395,306		$32.39		$77,584,000
	N/A	N/A		NATIONAL OILWELL VARCO INC		781,391		$50.23		$39,249,000
	N/A	N/A		PETROHAWK ENERGY CORP		1,465,107		$21.63		$31,690,000
	N/A	N/A		SANDRIDGE ENERGY INC		2,009,434		$19.60		$39,385,000
	N/A	N/A		SCHLUMBERGER LTD		1,258,876		$78.09		$98,306,000
	N/A	N/A		SHAW GROUP INC		337,218		$30.73		$10,363,000
	N/A	N/A		TALISMAN ENERGY INC		3,549,875		$14.22		$50,479,000
	N/A	N/A		TENARIS SA		1,222,487		$37.29		$45,587,000
	N/A	N/A		VALERO ENERGY CORP NEW		1,465,108		$30.30		$44,393,000
	N/A	N/A		WESTPORT INNOVATIONS INC		764,427		$9.14		$6,987,000
	N/A	N/A		XTO ENERGY INC		1,417,244		$46.52		$65,930,000
	N/A	N/A		FOSTER WHEELER LTD		279,962		$36.11		$10,109,000
			*****  HOLD POSITIONS
	% pos ch	% val ch	Change	COMPANY	Cur. Pos.	Prev. Pos.	Approx PPS	Prev PPS	Value	Prev Value
			*****  AUGMENTED POSITIONS
	% pos ch	% val ch	Change	COMPANY	Cur. Pos.	Prev. Pos.	Approx PPS	Prev PPS	Value	Prev Value
			*****  REDUCED POSITIONS
	% pos ch	% val ch	Change	COMPANY	Cur. Pos.	Prev. Pos.	Approx PPS	Prev PPS	Value	Prev Value
	-96.77%	-42.65%	-2,992,095	DENBURY RESOURCES INC	100,000	3,092,095	$10.92	$19.04	$1,092,000	$58,873,000
	-84.48%	-27.95%	-816,613	DEVON ENERGY CORP NEW	150,000	966,613	$65.71	$91.20	$9,857,000	$88,155,000
	-84.82%	-58.54%	-1,117,187	MCMORAN EXPLORATION CO	200,000	1,317,187	$9.80	$23.64	$1,960,000	$31,138,000
	-95.03%	-14.85%	-1,911,574	OCCIDENTAL PETROLEUM CORP	100,000	2,011,574	$59.99	$70.45	$5,999,000	$141,715,000
	-96.05%	-53.73%	-2,428,875	SUNCOR ENERGY INC	100,000	2,528,875	$19.50	$42.14	$1,950,000	$106,567,000
	-72.55%	-56.98%	-792,851	TRANSOCEAN INC NEW	300,000	1,092,851	$47.25	$109.84	$14,175,000	$120,039,000
	-94.70%	-56.96%	-1,787,676	WEATHERFORD INTERNATIONAL	100,000	1,887,676	$10.82	$25.14	$1,082,000	$47,456,000
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