(Business Edge columnist Gyle Konotopetz regularly profiles the top three stock picks of some of Canada's most accomplished investment pros.)

FEATURED PRO: Randy Oliver is president and senior portfolio manager of Hesperian Capital Management (www.hesperiancapital.com). Recently, two of the Calgary-based firm's small-cap funds, Norrep II and Norrep, were seventh and ninth, respectively, in Maclean's annual list of Hot 100 Funds.

Randy Oliver

Fund Form: The Norrep Fund has a three-year return of 27.1 per cent compared to the group average of 14.4 per cent; the Norrep Opportunities Fund has a six-month return of 15.7 per cent compared to the group average of 8.9 per cent.

Management Expense Ratios: Norrep, 2.49 per cent; Norrep Opportunities, two per cent.

Oliver's Perspective: "The market as a whole looks expensive to us. When I look back to 2000 or 2001, when the market was down 12 per cent and we were up 20 per cent (with the funds), I think we can still do that in a down market. But it's getting harder because the market is expensive and we're having to dig a little deeper. We're finding a number of stocks in the IT (information technology) area and in the computer and software-related area that are interesting."

First Star

* Major Drilling Group Int'l (TSX:MDI)

* Recent Price: $10.30.

* 52-Week Range: $6.25-$13.50.

* Snapshot: Major Drilling conducts drilling for mining companies globally. Its other core business segments are drill rig manufacturing and mineral exploration.

* CEO: Francis McGuire.

* Head Office: Moncton, N.B.

* Vital Stats: Current Price/Earnings Ratio, 22.10; Revenue (last 12 mos), $235.8 million; 5-Yr Revenue Growth, 14.2 per cent; Earnings (last 12 mos), $10.1 million; Market Cap, $224.7 million; Shares Outstanding, 21.8 million.

Oliver's View: "There has been a huge amount of money raised in the mining industry and that all goes into the ground, via the drill bit, somewhere. Major Drilling has been recovering for a better part of three or four years and has been a very good performer. It's extremely inexpensive, it has a low price/earnings ratio, a good return on equity and a strong earnings performance.

"We think it's a great way to play the resource sector - not directly but indirectly. The stock has backed off some and that's one of the reasons I am highlighting it right now."

* Risk Rating: Medium.

* Web Watch: www.majordrilling.com

Second Star

* PetroBank Energy and Resources (TSX:PBG)

* Recent Price: $2.80.

* 52-Week Range: $1.65-$2.90.

* Snapshot: Petrobank specializes in the acquisition, exploration and development of oil and natural gas properties. It also has interests in coalbed methane properties.

* CEO: John Wright.

* Head Office: Calgary.

* Vital Stats: Revenue (last 12 mos), $76.4 million; 5-Yr Revenue Growth, 25 per cent; Earnings/Loss (last 12 mos), $18.6 million Loss; Market Cap, $15.2 million; Shares Outstanding, 54.7 million.

* Oliver's View: "PetroBank is a name that no one really likes to speak of in the oil and gas business because the stock has performed very poorly in the last number of years. They don't have much in earnings, but they have become an extremely strong, asset-rich company. The company is worth its conventional oil and gas production.

"It has oil and gas production that is growing in Colombia, it has coalbed methane in Alberta and B.C., and it has bitumen and heavy oil assets in Alberta that aren't reflected in the value of the company. The company has indicated that they are going to try to bring that value out, probably by spinning off a couple of companies with those assets in them so that the assets are better recognized by the market."

* Risk Rating: High.

* Web Watch: www.petrobank.com

Third Star

* Geac Computer Corp. (TSX:GAC)

* Recent Price: $10.33.

* 52-Week Range: $7.30-$10.84.

* Snapshot: An enterprise software company operating globally, Geac provides solutions that manage all aspects of modern businesses, from newspapers and libraries to restaurants.

* CEO: Charles Jones.

* Head Office: Markham, Ont.

* Vital Stats: Current Price/Earnings Ratio, 10.10; Revenue (last 12 mos), $584.9 million; 5-Yr Revenue Growth, 9.2 per cent; Earnings (last 12 mos), $86.6 million; Market Cap, $884.4 million; Shares Outstanding, 85.6 million.

* Oliver's View: "Geac has an extremely low price/earnings ratio, strong earnings growth, a very strong cash position and very strong return on equity. They hired a new management team 18 months ago and they seem to be making all the right decisions. This was one of the high flyers six or seven years ago. The stock got the stuffing knocked out of it and it has been coming back nicely for the last two or three years."

* Risk Rating: Medium.

* Web Watch: www.geac.com

* Oliver's Edge Record (past 12 mos): +36.3 per cent. Best Pick: Tusk Energy (TSX:TSK) +91.2 per cent. Worst Pick: Global Railway Industries (TSX:GBI) zero per cent.

Disclosure: Oliver says that he does not own the individual stocks, but owns positions in those Norrep funds in which the featured stocks are held.