Cramer's Top 5 Oil Picks

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Jim Cramer mentioned his Top 5 Oil Opportunity Picks on Mad Money on March 12, 2007. Here they are.

Right now there is an opportunity in the oil patch because market players "are not looking at the right things," he said. People are looking at the weather and inventory numbers, but this makes no sense because inventories and weather are both fleeting. "If you're trying to determine a company's future earnings per share, you can't look at it on its own," Cramer said.

Jim thinks the real money is going to be made in the drilling sector with oil plays. His five picks are Schlumberger Limited (SLB), National Oilwell Varco Inc (NOV), GlobalSantaFe Corporation (GSF), The Halliburton Company (HAL), which he owns for his trust, and his favorite pick Transocean Inc (RIG), which he also owns for his trust.

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