Energy XXI Ltd fka EXXIQ

[Bad_Dog]

When you asked the question initially, I thought you were asking about my post and not this one;

""Expecting to come out of bankruptcy by the end of the month. The restructuring WILL cause common stock to be forfeited. Don't get caught holding.""

In my post it says;

""""""
If the company proceeds to file for Chapter 7 bankruptcy, the company's creditors are paid in a specific order. Generally, investors or creditors are paid in the following order:

1) Secured creditors
2) Unsecured creditors
3) Shareholders

Usually, little to nothing is leftover for shareholders after the more senior creditors are paid. However, if the company restructures and emerges from Chapter 11 as an improved organization, its share price may rise to higher levels than previously witnessed.

Read more: Does a shareholder lose all of their equity once a Chapter 11 bankruptcy is filed by the company? | Investopedia http://www.investopedia.com/ask/answers/10/stock-holder-lose-equity-chapter-11.asp#ixzz4L5K92rjn
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""""""

That is more just for informational purposes only. The odds of just about any company coming out of BK with shares intact is slim. I'm hedging that they will though based on oil prices ( that don't look that great at the moment ) and the shareholders that are fighting for us. You can find information regarding what they are doing online and in the companies filings and other statements. You can also find many statements suggesting that shareholders get nothing. It's probably a crap shoot either way.

FYI, I am not risking a lot, I've been wrong before, and will be again and I'm not suggesting anyone to do what I am, as the odds are stacked pretty high against anyone with a long position.