Energy Xxi Gulf Coast, Inc. (delisted) (EXXI) News

* * $EXXI Video Chart 11-14-17 * *

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Sell your shares of EXXIQ to a short seller in need! The DTC for whatever reason has not deleted EXXIQ yet even though the old stock was cancelled at the end of bankruptcy. I was short 35,000 shares into the end of bankruptcy thinking the shares would be deleted in a couple weeks but that did not happen. Those 35,000 shares are tying up $87,500 in capital. If anyone still has 35,000 shares(or more) showing up in their account I will gladly send them some money via Paypal and they can send the shares to me via FOP transfer. I am willing to pay $0.002857 per share ($100 total). Please verify that the shares still show up in your account and that your broker allows FOP transfers to other brokers (my broker in Interactive Brokers). If interested, email me: Michael.goode@gmail.com

is anyone going to make a board for the new company


EGXG



ec

Probably on 2017 taxes filed in 2018, but consult your accountant to be sure..

EXXI bankruptcy tax write-off??? So now that the new common is out and trading, can the old common stock holders write off the bankruptcy, based on their cost basis, on this years taxes???

Exhibit 10.7 INDEMNIFICATION AGREEMENT



This Indemnification Agreement (“Agreement”) is made as of December 30, 2016, by and between Energy XXI Gulf Coast, Inc., a Delaware corporation (the “Company”), and .................................. (“Indemnitee”).



Section 12. Remedies of Indemnitee.



(a) Subject to Section 12(e) hereof, in the event that (i) a determination is made pursuant to Section 10 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(a) of this Agreement within sixty (60) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 4 or 5 or the last sentence of Section 10(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 2, 3 or 6 of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other Person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication, by a court of competent jurisdiction, of Indemnitee’s entitlement to such indemnification or advancement. Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitrat...

... not shure i understand all, look like this (“Indemnitee”) are made to protect from old stuck party

$EGC will be their new symbol. nnln/ is EXXI's New Year's wish for the commoners.

EXXIQ BK PLAN effective. All shares cancelled:

http://otce.finra.org/DLDeletions

Cancelled is cancelled - nothing to gain later...

Newbie here....If I were to sell my common now, would I miss out on any "compensation", if by some miracle, that were to be given to equity holders?

not in just sniffing around the form 4s the 401k has a lot of shares for the top brass. Ad Hocks sign on with the restructure plan. and someone dumped a whole bunch of shares last trading day.
Hummm. on watch. but as I am saying on all q boards there needs to be a change in laws for common holders. the fat cats have been screwing to long. hurting folks who invest. it is killing the markets. time for a change. if a firm comes out of bk then the investors in the stock come out also. enough of the fat cigar smoking elites ripping of folks. gear up it's coming the new age investors will change this crap. they changed elections watch what happens soon enough with rip off firms.

Prefs up 300%. Hmmmm....

Not true... he still owns almost 1mm shares if you read the filing. Though true... he offloaded around 2/3 of what he had... but regardless, us commoners are about to lose it all here, or so it seems... if we don't sell soon.

CEO dumped ALL his shares! What does that tell ya?

Oil $ 70

http://oilprice.com/Energy/Oil-Prices/Can-OPEC-Send-Oil-To-70.html

Roger - Existing EXXIQ shares are not expected to receive any value in the proposed restructuring plan.





From: Roger Gwan [mailto:rogerg68@live.com]
Sent: Friday, November 25, 2016 8:24 AM
To: IR <IR@energyxxi.com>
Subject: exxiq stock shares



Where will the shares of exxiq go after the restructuring is completed. I have read most of the reports and to my understanding they show they will be dissolved. Or is that only the exxi symbol before the bankruptcy. Thank you for any of your input you can give me on this as I have some shares and would like to add more.



Thank you

Roger Gwatney

it would turn into dust
Down -26 % Thanks for the infos folks, great board !

It is not always so but I think for EXXIQ the millions of shares that will trade could reveal a book of order with a (downward manipulation), Improbable assumption just a hope ;) for my little shares I kept, not shure i wait for Friday to sell or even for Christmas...

The quickest way to wade through all of the "mumbo jumbo" when you want to know the fate of all the different classes of securities go to Doc # 1642 beginning at page 182 of 189.

You will see this - Amended Plan Summary

The following is an overview of the treatment to be afforded to each class of Claims or Interests as provided under the Amended Plan. It is provided for convenience only and is specifically qualified by the Amended Plan itself.

The list begins with Class 1 Other Priority Claims on page 182 ...and goes down the list to Class 15 on page 183.

Common equity is Class 15

Notice what it says about Class 15

15 EXXI Interests Extinguished in accordance with the Description of the Transaction Steps

=====================

I don't care what anybody else says on Ihub this is the fate of the common shares held as of right now 12/13/2016.

Can they still be traded? yes. But think of them as the walking dead. These shares can be and will be voided at any time now that the plan has been confirmed. Guys can and will play musical chairs with these ..they always do...but if you're the guy holding the shares when the SEC stops the music you'll be the one holding the zombie shares.

Good luck.
Chevy

All I see is $160,000 given to the equity commitee plus payment of half of the fees. Care to share your discoveries?

181 pages of boring mumbo jumbo.....

Trying. Falling asleep at page 37...

No, the equity committee did not agree to no shareholder value.
Read the entire docket and get every penny you can spare ready for tomorrow.

BUT according to the current plan EXXIQ shareholders will not get any of the new stock. Correct...that is the reality. EXXIQ is DOA. Sorry guys.

Taken from the Disclosure Statement Doc #502 page 44

15. Class 15: EXXI Interests

(a) Classification: Class 15 consists of all EXXI Interests. (EXXI Interest means the common stock)

(b) Treatment: On the Effective Date, or as soon thereafter as reasonably practicable, all EXXI Interests will be extinguished in accordance with the Description of the Transaction Steps and the holders of EXXI Interests shall not receive or retain any distribution, property, or other value on account of their EXXI Interests.

(c) Voting: Class 15 is Impaired under the Plan. Each holder of an EXXI Interest will be conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, each holder of an EXXI Interests will not be entitled to vote to accept or reject the Plan

===================

Marker:
Energy Xxi Ltd. (PC) (EXXIQ)
$0.1195 up 0.0215 (21.94%)
Volume: 7,212,674

Thanks HDO, so what is your thoughts on commons now? What can you make sense of all this? I'm still in the dark.

Thanks for the reply...

$$$$

Let's goooo

http://mobile.reuters.com/article/idUSASC09N8I

(+34.69%) Nice De-stress of value !
beyond 6 million in exchange we will maybe see an Improbable move. UP or DOWN !
GLTA

What happened? It dropped and now up?

The Plan is also supported by the Official Committee of Equity Security Holders . The Plan will strengthen the Companys financial position by eliminating more than $3.6 billion of debt from its balance sheet, substantially deleveraging Energy XXI and positioning it for long-term success.

EXXIQ .132

Though getting filled.. Looks like news getting out.

EXXIQ .12 went bye bye.

Energy XXI Plan of Reorganization Confirmed By Court
HOUSTON , Dec. 13, 2016 (GLOBE NEWSWIRE) -- Energy XXI Ltd (OTCMKTS:EXXIQ) ("Energy XXI" or the "Company") today announced that the United States Bankruptcy Court for the Southern District of Texas , Houston Division has indicated that it will confirm the Company's Plan of Reorganization (the "Plan") and issue a written ruling and confirmation order to that effect. The Company expects to complete its financial restructuring process and emerge from Chapter 11 before the end of the calendar year, after the conditions to the Plan are satisfied.

what does that all mean?

Non-Mandatory Reorg/Tender for EXXI

We got news from our broker.

Well, with all these amendments and supplements to the plan, I still don't see anything of value for commons. But it's all up to the Judge. So I agree with level42 it's 50/50.

Interestingly enough, just watch, if the plan is Approved the stock will climb somewhat after the ruling... Probably because of shareholders hearing a positive word "Approved" and not knowing what that means for them.

I've seen stock climb 100s% after approval. Just remember your shares could wipe out as soon as the next day. It's usually a week or 2, but I wouldn't risk that. The stock just stops trading at some random time during some random day.

If the plan is NOT approved, then the bankruptcy process starts all over again. That's why I think it's more likely the Judge will approve the plan.

I've been watching this since their bk. Read about a month ago that there was a shareholder rep appointed for the proceedings and since it's really about the weight of the creditors, my guess is this is where most if not all of the influence behind the final decision will fall. Too risky to get in... and even if the decision isn't approved, there may be a final reprieve for commons to sell off before they end up losing what they have when a deal is finally approved. Money talks and the commoners are always sent home with nothing.

Good luck to all with whatever happens tomorrow.

50/50 --- Here we sail blind!

To be successful and to evade bad finances we needed oil well above $ 50.

If we observe the movement of today there was a coconut shake, someone escape with a $140 000 order !

The suspense is total ... is this falling to 0.05 ? or go to 0.20
or finally jump to 0.50 Before the end ?


in my opinion there is a good chance that the plan is approved and public shareholders get nothing. It seems to me that since the beginning of the reorganization the company has limited its communications concerning the Evolution of the situation about the claim.

I read in a section about the otc rules which stipulated that quotation are valid for two years (until April 2019) there are two option either the company asks the Radiation and the compensation is zero, or, they let go, this will go also to zero and the infinite bottomless pit of the pink market.

In your opinion, what are the chances of the plan being approved? What do you think will happen if the plan isn't approved? My understanding as well is that shareholders have a place at the negotiating table as well... over the objections of EXXIQ.

Shareholders will get nothing

and this week could be the very last hours of the reorganization plan and the exchange on the $Exxiq shares. Hurry ;) !!!

Only one day for all the protagonist to do a vote and cancel all the current decision, oil money flow again, but i believe not so much ethics !

Energy XXI sought Chapter 11 protection in April with $3.6B in debt, reached a tentative restructuring deal two weeks before the OPEC agreement that values its business at ~$600M; shareholders - who could be wiped out in the deal that gives control to bondholers - think the true figure is higher now, but their problem is timing, as energy producers likely would command higher prices as supplies tighten but that may not be enough to change their valuations today.

I got mail but didn't read it....

Has anyone else gotten with a Tendor Offer from EXXIQ?

Hi Superones. It has nothing to do with being right, I just read the dockets which states what the company plans to do with shareholders.

I don't know about BLPH, I only play with Q stocks, lol.

Good luck, though!

BLPH question You were right about EXXIQ I was wrong, my understanding was flawed, perhaps you can give me your opinion on BLPH I notice the CEO and directors bought over a million share is this a good sign.

Yeah thats whats been confirmed, and it wouldnt be good for commons. The question now is how Likely is it that the plan will be approved. No one can say forsure, but anyone want to give their opinion?

Hello guys. Shares will be canceled only if res. plan will be approved. Until 13/12/2016 we dont know it. By Monday next week will start high volatility I guess. As usual and price can peek to to 0.5 from this level. Easy money. But if you will be in profit set stop-loss to appropriate price after court release.

Yep, All the current EXXIQ will receive Nothing and will be Cancelled and Wiped out soon!

The December 13 is the psychological limit to hold still stock here, we can hope a hypothetical peak on 0.20, but what is certain is that there will be a cessation, a brutal end of course. I consider this week is decisive for Exxiq, may be a last chance to get out.

It is obvious that the ENERGY XXI actions will not see the Q deleted, no compensation will be given after the alt on the pink market, maybe after the struggle there is possibly for the committee, but neither the maserati nor the plane with swimming pool can do anything ;) for the common's, after the split, after the price divided by 100, sigh ! so what is Sure is that the shares will disappear, in 2017 nothing more then zero ... The new shares is prepared into another designation, another accounting. Ultimately on a hudge capitalization, 10 times, 100 times ? Who Know
GTLA