Not sure exactly what you are trying to do, but something like this:
Code:
Sub Macro6()
Dim oRng As Range
Dim oRNg2 As Range
Selection.Find.ClearFormatting
Selection.Find.Replacement.ClearFormatting
Set oRng = Selection.Range
Set oRNg2 = oRng.Duplicate
With oRng.Find
.Text = "^p"
.Forward = True
.Wrap = wdFindContinue
.Format = False
.MatchCase = False
.MatchWholeWord = False
.MatchWildcards = False
.MatchSoundsLike = False
.MatchAllWordForms = False
Do While .Execute
If oRng.InRange(oRNg2) Then
oRng.Text = " "
oRng.Font.Bold = wdToggle
oRng.Collapse wdCollapseEnd
Else
oRng.Collapse wdCollapseEnd
Exit Do
End If
Loop
End With
End Sub