Energy Partners, Ltd. (fka ERPLQ)

[prls123]

I think the following part of the latest 8k is very telling for the stock overall. The share price had been dropping pricing in the company going into bk......hence the sharholders would be at jeopardy of being wiped out. However, given the extension and the following part of the 8k, it looks like equity will remain part of a reorganization. However, I would expect dilution along the way to reorganization of the company. Regardless, the share price would garner a much high price than today's price.

From the 8k.....

The Company also agreed to provide the Administrative Agent under the credit agreement, on or before April 22, 2009, with a draft of a proposed plan to satisfy the conditions of the Minerals Management Service's Order of March 23, 2009 related to the fulfillment of specific collateral requirements specified in such Order and to convert the Company's senior unsecured notes to equity.