The "Tiber" field discovered by BP in deep water about 250 miles off the coast of Houston is probably the deepest drill on record, more than 6.5 miles. deep. Analysts estimate that the field holds about 3 billion barrels of oil, of which 1 billion barrels are recoverable with today's technology.

BP PLC (NYSE: BP) also owns another big oil field called "Kaskida" in the Gulf of Mexico. Together these two fields could boost BP's oil production from 400,000 barrels per day to 650,000 bpd.

"Mainland Resources (NASDAQ: MNLU), a small natural gas play, could be a giant in the space in a short period of time," says Charles Payne.

In his WStreet Market Commentary, he explains, " The company involved in the super exciting Haynesville shale region, which could be one of the largest domestic on shore natural gas fields ever."

"The stock has been coming on lately as more investors learn about the company's potential in the Haynesville shale region.

"Discovered in March of this year, the Haynesville field -- according to Energy and Capital -- could conservatively hold 168 trillion cubic feet of natural gas. Chesapeake Energy (NYSE: CHK) has declared Haynesville the most important find in its 19 year history.

"There was always a notion that a big find was in the space that the company currently owns (2,700 acres), but when it was first explored back in the 1950 crude oil prices were much lower and there was no technology to get to the natural gas.