Mr. Market wants to see evidence that Oil can maintain $60Maintaining $60 for the next 30 days going into the Q1 reporting season (BTE on May 2) will be key here. This will lead to analysts having to raise their CF projections using a higher 2019 average oil price (and narrower WCS diff) which will catch the attention of institutional investors.
Then, as companies announce strong numbers, it should be a wake up call. Dont forget, BTE already preguided that Q1 production is at the higher end of the guided range. With strong production and higher prices, a Q1 beat is a given. At $57 they said FCF would be +$200m....average strip prices now indicating $60 for 2019. That equates to $300m FCF.
Patience is not easy. But will be rewarded.