FEATURED PRO: Josef Schachter is president of Schachter Asset Management, which specializes in research on the oil and gas industry. The Calgary firm provides research on oil and gas companies for Maison Placements Canada and other institutional investors.

Schachter's Perspective: "Since the oil and gas stocks corrected, we've been telling our institutional clients to be buyers of oil and gas stocks. We think that the selling has been overdone on the downside and we think we're going to see a significant rally heading into the summer because of (commodity) demand in the summer months, and probably continued sabre-rattling from Iran.

"I think it's possible that with strength in oils and golds (stocks) you'll see 13,000 (on the S&P/TSX composite index, which was recently at 11,758) before the end of the year."

First Star

Josef Schachter

* C1 Energy Ltd. (TSX:CTT)

* Recent Price: $1.71.

* 52-Week Range: $1.63-$3.45.

* Schachter's 12-Month Target: $3.

* Snapshot: C1 is an oil and gas company with exploration and development projects, primarily in Alberta. The company was formed from the reorganization of Navigo Energy.

* CEO: Hugh Pattillo.

* Head Office: Calgary.

* Vital Stats: Current Price/Earnings Ratio, 17.1; Revenue (last 12 mos), $12.7 million; Earnings (last 12 mos), $2.3 million; Market Cap, $55.9 million; Shares Outstanding, 32.7 million.

* Schachter's View: "This company had a dry well that took the stock down, but we think this will be a $3 stock by the end of the year. They have a hot (exploration) area called Blueberry that they've kept on tight-hole status (not releasing exploration results) because of land sales. But we believe they've had some significant success there and we're waiting to see how the land sales go. Hopefully, then they'll start being more communicative about how they've done there."

* Schachter's Risk Rating: Moderate to High.

* Web Watch: www.c1energy.ca

Second Star

* Find Energy (TSX:FE)

* Recent Price: $9.25.

* 52-Week Range: $2.83-$11.39.

* Schachter's 12-Month Target: $12.

* Snapshot: Find is an oil and gas company with projects in east-central Alberta, west-central Alberta and southeastern Saskatchewan. The company also operates the Blue Rapids gas plant at Pembina, of which it is an 85-per-cent owner.

* CEO: William Davis.

* Head Office: Calgary.

* Vital Stats: Current Price/Earnings Ratio, 38.5; Revenue (last 12 mos), $52.8 million; Earnings (last 12 mos), $8.2 million; Market Cap, $313.5 million; Shares Outstanding, 33.9 million.

* Schachter's View: "This company is now doing 5,100 boe's (barrels of oil equivalent) per day. They've also brought on a plant (the Blue Rapids gas plant at Pembina) that has capacity of 30 mmcf (million cubic feet) per day and it can be expanded from here.

"We think the company could possibly be a takeover this year by a royalty trust and we think the company could be worth over $12 per share (his 12-month target)."

* Schachter's Risk Rating: Low to Medium.

* Web Watch: www.findenergy.ca

Third Star

* Sterling Resources (TSXV:SLG)

* Recent Price: $1.57.

* 52-week Range: $1.11-$2.41.

* Schachter's 12-Month Target: $3.

* Snapshot: Sterling is an international oil and gas company with properties in the United Kingdom, Romania and France.

* CEO: Stewart Gibson.

* Head Office: Calgary.

* Vital Stats: Revenue (last 12 mos), $0; Earnings/Loss (last 12 mos), $2.1 million Loss; Market Cap, $124.7 million; Shares Outstanding, 79.4 million.

* Schachter's View: "In May, this company will be working on a three-well program onshore in Romania and they'll eventually have five wells drilled onshore in Romania in '06. They also have interests in three wells to be drilled offshore North Sea in '06, the first of which will be drilled at the end of the second quarter by (partner) OilExco (TSX:OIL). The prize for the (North Sea) wells is potentially something that could do 15,000 boe's per day of production, of which 35 per cent is net to Sterling. So the upside for Sterling will be about 5,000 boe's per day."

* Schachter's Risk Rating: Moderate to High.

* Web Watch: www.sterling-resources.com

Schachter's Record (past 12 mos): +17.1 per cent. Best Pick: Real Resources (TSX:RER) +62.1 per cent. Worst Pick: Sterling Resources (TSXV:SLG) -12.8 per cent.

Disclosure: Schachter Asset Management has provided research on the featured companies to Maison Placements Canada and Josef Schachter has personal investments in all three companies.

(This feature is provided for information purposes. Investors are advised to do their own research or consult a qualified investment professional before making investment decisions.)