here to debate whether this rally will continue, sun trust neil dingman with the buy on the company. ou think this name will continue to run? >> there's no question, they've gotten in trouble because of the low gas prices, the high leverage, and then the mbcs that they have. more recently, they've been able to exchange a third of their debt. they've got over 5 billion liquidity. over three billion dollars alone. we think the asset phase plus liquidity makes them ripe for making it through this terrible time right now. >> so why are they not attractive to you here? >> hey, kelly, thanks for having me on and giving me the opportunity to tell your viewers that under no circumstances do you stock anybody's stuffing with chesapeake stock. there's five reasons. it's simple why you stay away from this. number one is take a look at the bond prices. it's a red flag. bonds are being priced at 27 cents a dollar in the out year. it's really because of the leverage situation. we can see if you use the futures market as your guide for prices with oil and gas, you get leverage that's out of control

our next guest is saying there are good buys out there still, joining us now is neil dingman. neil, welcome to you. >> thanks, kelly. >> first of all, how much further do you think the price of oil goes from here? >> i mean, right now after the ceiling opec essentially took the ceiling off on friday i look at it at really a three-way game of chicken between russia, the u.s. and opec. based on what we're seeing now we could see at least another 10, maybe 15% down side to push the pressure until we see some stabilization. >> are we at the point of pain for a lot of the companies that we are going to talk about here? how much lower does it go when we really start to see the pain in these companies? >> bill, a couple that i think i've given you really have very clean balance sheets, they operate in some of the highest return areas. so i would say those i don't feel bad but there's certainly smaller companies that i follow, some you have already seen file bankruptcy, others could follow, certainly even in the next coming months. >> i see your point about a voigsd leaf r-- avoiding l