Cramer's 'Mad Money' Recap: Peru Play

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"The only thing that's working in this market is energy," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

Cramer is devoting this week to wildcat drillers -- companies that drill for oil in untapped areas of the world. He believes the success of wildcatters can go a long way to increase the supply of oil and represents the best way for investors to play the rapid rise in oil prices.

Cramer went to Peru to showcase what he called a great wildcat driller that is helping to meet the world's demand for oil. That company is BPZ Energy (BZP Quote).

According to Cramer, BPZ is simply another play on increased oil production and higher oil prices. "It's just like pumping money out of the ground," he said.

Cramer said he's not worried about BPZ's assets or reserves being seized by the Peruvian government, which he called a "friend of capitalists."

Cramer put BPZ in the same category as another pick he made recently in Peru: Credicorp (BAP Quote), which has been up 18% since March 31.

BPZ, which currently drills both onshore and offshore in Peru, has 110 million certified barrels of oil in reserve, all coming from only one of the company's three main oil production areas, said Cramer.

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