Energy Partners, Ltd. (fka ERPLQ)

[Cowboy]

that does not mean they will issue shares it probably means they will cut the senior note holders a stake in the company...a percentage with an option to buy them out and/or provide dividends along the way.

Not more shares or dilution as you have implied. This is not your ordinary pink sheet stock and you can't look at it that way either. This is a stock that has been delisted from a major exchange and will most likely be trading on one again in the near future.

It would be nice if there was a special exchange for these companies that have fallen off higher exchanges which would separate them from ordinary pink sheet stocks. Then people would look at them differently but hey it makes for great opportunities for those who understand the big picture.