You don't need to bother with a search and replace if you make use of the selection.expand method. For instance, you could add the following in front of the End If line
Code:
Dim oPar As Paragraph
For Each oPar In oRng.Paragraphs
oPar.Range.Select
Selection.Collapse Direction:=wdCollapseStart
Selection.Extend " "
Selection.Font.Bold = True
Next oPar
This would be much slicker if you could use the range directly and didn't need the selection object but I don't think extend works for ranges.