Don't Watch Oil -- Buy Oil Stocks!

The price of oil has played an increasingly monolithic role for traders in recent years.  When it was rising, energy-related stocks seemed safe to buy.  When it was falling, they weren't.  Jerry Castellini says that's no longer the case, and he's urging investors to stop watching oil prices -- and start buying stocks.

"Why is it impossible for an oil and gas company to be a growth business?" the president and chief investment officer of CastleArk Management asked CNBC.  "We didn't think that was the case in health care in the 1980s, or in technology in the early '90s, and yet those businesses all became growth businesses."

So which oil and gas businesses are now poised to take off?

Recommendations:

In the exploration and production area, Castellini likes Petrohawk, which is involved in the Hanesville Shale exploration area in northern Louisiana and east Texas.

Also on his list are Southwestern and Ultra.

Among oil drillers, Nabors Drilling, National Oilwell, and Rowan Drilling are on Castellini's list.

Disclosures:

Disclosure information for Jerry Castellini was not immediately available.

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