UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934



                              BIG SKY ENERGY GROUP
                                (Name of Issuer)


                                  COMMON STOCK
                         (Title of Class of Securities)


                                    089544100
                                 (CUSIP Number)


                               December 31, 2005
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[   ] Rule 13d-1(b)

[ X ] Rule 13d-1(c)

[   ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).






Page 1 of 2






CUSIP No. 089544100

1.  NAMES OF REPORTING PERSONS: Frank E. Holmes

    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 00-0000000

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]    (b) [ ]

3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION: Canada

NUMBER OF           5. SOLE VOTING POWER:                        0
SHARES
BENEFICIALLY        6. SHARED VOTING POWER:                7,667,100 shares


OWNED BY
EACH                7. SOLE DISPOSITIVE POWER:                   0
REPORTING
PERSON WITH         8. SHARED DISPOSITIVE POWER:           7,667,100 shares



9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
    REPORTING PERSON:                                      7,667,100 shares



10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
    EXCLUDES CERTAIN SHARES                                           [    ]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                6.6%

12. TYPE OF REPORTING PERSON                                            HC





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CUSIP No. 089544100

1.  NAMES OF REPORTING PERSONS: U.S. Global Investors, Inc.

    I.R.S.   IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 00-0000000

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ]  (b) [ ]

3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION: Commonwealth of Massachusetts

NUMBER OF          5. SOLE VOTING POWER:                         0
SHARES
BENEFICIALLY       6. SHARED VOTING POWER:                 7,667,100 shares


OWNED BY
EACH               7. SOLE DISPOSITIVE POWER:                    0
REPORTING
PERSON WITH        8. SHARED DISPOSITIVE POWER:            7,667,100 shares



9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
    REPORTING PERSON:                                      7,667,100 shares


10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
    EXCLUDES CERTAIN SHARES                               [    ]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                6.6%

12. TYPE OF REPORTING PERSON                                            IA



Page 2 of 2




ITEM 1.

(a) NAME OF ISSUER: Big Sky Energy Group

(b) ADDRESS OF ISSUER'S
    PRINCIPAL EXECUTIVE OFFICES:  Suite 750, 440-2 Avenue S.W.
                                  Calgary
                                  Alberta, Canada T2P5E9
ITEM 2.

(a) NAME OF PERSON FILING:        Frank E. Holmes
(b) ADDRESS OF PRINCIPAL          7900 Callaghan Road
    BUSINESS OFFICE               San Antonio, Texas 78229
(c) CITIZENSHIP:                  Canada

(a) NAME OF PERSON FILING:        U.S. Global Investors, Inc. ("USGI")
(b) ADDRESS OF PRINCIPAL          7900 Callaghan Road
    BUSINESS OFFICE:              San Antonio, Texas 78229
(c) CITIZENSHIP:                  Texas

(d) TITLE OF CLASS OF SECURITIES: Common Stock (no par value)("Shares")

(e) CUSIP NUMBER:                 089544100

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 17 CFR ss.240.13d-1(b) OR
        ss.240.13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15
        U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company
        Act of 1940 (15 U.S.C. 80a-8).

(e) [X] An investment adviser in accordance with 17 CFR 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with 17 CFR
        ss.240.13d-1(b)(1)(ii)(F);

(g) [X] A parent holding company or control person in accordance with 17 CFR
        ss.240.13d-(1)(b)(1)(ii)(G);

(h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit
        Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment
        company under section 3(c)(14) of the Investment Company Act of 1940
        (15 U.S.C. 80a-3);

(j) [ ] Group, in accordance with 17 CFR ss.240.13d-1(b)(1)(ii)(J).


ITEM 4. OWNERSHIP.

The responses to Items 5-11 of the respective cover pages of Mr. Holmes and
USGI are hereby incorporated by reference in response to Items 4(a)-(c).


USGI is the manager of registered investment companies (the"Funds") that hold in
the aggregate  7,667,100 Shares. None of the Funds individually own greater than
five  percent of the  Shares.  Mr.  Holmes is the chief  executive  officer  and
controlling shareholder of USGI. Because of their direct and indirect control of
the  investment  and voting  decisions of the Funds,  USGI and Mr. Holmes may be
deemed  the  beneficial  owners of the  Shares,  but  disclaim  such  beneficial
ownership except to the extent of their pecuniary interest in the Shares.


ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

See Item 4 above.

ITEM 7. IDENTIFICATION  AND  CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
        THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

Not applicable.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Not applicable

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

Not applicable

ITEM 10. CERTIFICATION

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were acquired and are held in the ordinary  course
of business  and were not  acquired  and are not held for the purpose of or with
the  effect  of  changing  or  influencing  the  control  of the  issuer  of the
securities  and were not  acquired and are not held in  connection  with or as a
participant in any transaction having that purpose or effect.


                                    SIGNATURE

After  reasonable  inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated as of February 13, 2006.

                                 FRANK E. HOLMES

                                 /s/Susan B. McGee, Power of Attorney
                                 ------------------
                                 (Signature)  Susan B. McGee, Power of Attorney


                                 U.S. GLOBAL INVESTORS INC.
                                 By:  Frank E. Holmes
                                      Chief Executive Officer

                                 /s/Susan B. McGee, Power of Attorney
                                 ------------------
                                 (Signature) Susan B. McGee, Power of Attorney







                                    Exhibit A


                             Joint Filing Agreement


     We,  the  undersigned,  hereby  express  our  agreement  that the  attached
Schedule 13G, and any amendments  thereto, is filed jointly on behalf of each of
us pursuant to Rule 13d-1(k) of the Exchange Act.

Dated as of:  February 13, 2006.


                                 FRANK E. HOLMES

                                 /s/Susan B. McGee, Power of Attorney
                                 ------------------
                                 (Signature) Susan B. McGee, Power of Attorney


                                 U.S. GLOBAL INVESTORS INC.
                                 By: Frank E. Holmes
                                     Chief Executive Officer

                                 /s/Susan B. McGee, Power of Attorney
                                 ------------------
                                (Signature) Susan B. McGee, Power of Attorney