The big oil stocks have done very well over the last three years, but where's the growth in energy right now? We're still very much embroiled in a high commodity price cycle, but some are wondering if the opportunity has now passed.

As I told you before, my dentist figured that the only way he could beat higher gasoline prices was to invest in one of the large, integrated oil and gas producers. He did well with this investment, but the larger-cap stocks have pulled back over the last month.

If you are a speculator in this market, wishing to make money now, rather than invest it for a future generation, the best opportunities I see in the oil and gas market are in junior Canadian producers. The oil patch in Alberta, Canada is booming, whether it be in oil sands, natural gas, or drilling services. The oil rush is on with prices per barrel over $50.

Two speculative companies stand out in the junior market for oil and gas stocks. One is Gentry Resources Ltd. (TSX/GNY). This Calgary-based junior oil and gas company is active in the Western Canadian Sedimentary Basin and has four core production areas in Alberta. Gentry currently has production of approximately 4,000 boe per day.

The other is NQL Energy Services Inc. (TSX/NQL). This company is a specialty tool maker for oil and gas drilling applications. The company sells a variety of drilling tools from five facilities in Canada, 10 facilities in the United States, and three facilities in Venezuela, as well as locations in Holland, Dubai, and Argentina. The company operates four manufacturing facilities in Canada, the United States, and Bolivia, with approximately 100,000 square feet of capacity specializing in machining components for use in various oilfield applications.

So, in this example, we have a junior producer and a small-cap drilling services company. From my perspective, this is where you can outperform with your energy investments, going forward.