Feaster, who has the sixth, 22nd and 28th overall picks in the June 30 Draft, is willing to make the necessary moves to climb into the top-five.
"I think that the right scenarios, we may be able to do something," Feaster told the Flames' website.
"We at least know which teams are willing to do something and if they are, what it would take to do that, and I think also which teams aren't willing to do that. I don't want to call it traction, but I think there is a good understanding which picks might be in play."
This year also marks the first time since 1976 that the Flames have had multiple first-round picks, when they selected defenseman Dave Shand eighth-overall and forward Harold Phillipoff 10th overall.
Meanwhile, as Feaster looks to improve his draft position, he is also focusing on other moves the team could make this off-season.
The Flames haven't made the playoffs in four seasons, and with roughly $25 million in available salary cap space, providing goalie Miikka Kiprusoff retires, the Flames plan on being active in the free agent market.
"We have to get bigger and we have to get harder to play against," Feaster told The Canadian Press.
Feaster also plans on being active on the trade front.
"When you finish where we have the last three, four years, our list of untouchable players is relatively small," he said. "No, I don't want to go into who those untouchables are."