VBA Function to parse email body for email address, write to excel

I have a requirement such that I need a function to iterate through all emails in an Outlook (2010) folder and grab an email address from the body of the email. The emails are found from Inbox Online Applicants TEST CB FOLDER

There will be only one email address in the body. This email then should be written to an excel file email_output.xls found on the desktop.

From this forum thread I have found and slightly altered the final macro to match my needs as best I could (only have cursory knowledge of VBA):

Option Explicit 
Sub badAddress() 
    Dim olApp As Outlook.Application 
    Dim olNS As Outlook.NameSpace 
    Dim olFolder As Outlook.MAPIFolder 
    Dim Item As Object 
    Dim regEx As Object 
    Dim olMatches As Object 
    Dim strBody As String 
    Dim bcount As String 
    Dim badAddresses As Variant 
    Dim i As Long 
    Dim xlApp As Object 'Excel.Application
    Dim xlwkbk As Object 'Excel.Workbook
    Dim xlwksht As Object 'Excel.Worksheet
    Dim xlRng As Object 'Excel.Range
    Set olApp = Outlook.Application 
    Set olNS = olApp.GetNamespace("MAPI") 
    Set olFolder = olNS.GetDefaultFolder(olFolderInbox).Folders("Online Applicants").Folders("TEST CB FOLDER")
    Set regEx = CreateObject("VBScript.RegExp") 
     'define regular expression
    regEx.Patte = "b[A-Z0-9._%-]+@[A-Z0-9.-]+.[A-Z]{2,4}b" 
    regEx.IgnoreCase = True 
    regEx.Multiline = True 
     ' set up size of variant
    bcount = olFolder.Items.Count 
    ReDim badAddresses(1 To bcount) As String 
     ' initialize variant position counter
    i = 0
    ' parse each message in the folder holding the bounced emails
    For Each Item In olFolder.Items 
        i = i + 1 
        strBody = olFolder.Items(i).Body 
        Set olMatches = regEx.Execute(strBody) 
        If olMatches.Count >= 1 Then 
            badAddresses(i) = olMatches(0) 
            Item.UnRead = False 
        End If 
    Next Item
     ' write everything to Excel
    Set xlApp = GetExcelApp 
    If xlApp Is Nothing Then GoTo ExitProc 
    If Not IsFileOpen(Environ("USERPROFILE") & "Desktopemail_output.xls") Then 
    Set xlwkbk = xlApp.workbooks.Open(Environ("USERPROFILE") & "Desktopemail_output.xls") 
    End If      
    Set xlwksht = xlwkbk.Sheets(1) 
    Set xlRng = xlwksht.Range("A1") 
    xlApp.ScreenUpdating = False 
    xlRng.Value = "Bounced email addresses" 
    ' resize version
    xlRng.Offset(1, 0).Resize(UBound(badAddresses) + 1).Value = xlApp.Transpose(badAddresses) 
    xlApp.Visible = True 
    xlApp.ScreenUpdating = True 
ExitProc: 
    Set xlRng = Nothing 
    Set xlwksht = Nothing 
    Set xlwkbk = Nothing 
    Set xlApp = Nothing 
    Set olFolder = Nothing 
    Set olNS = Nothing 
    Set olApp = Nothing 
    Set badAddresses = Nothing 
End Sub 
Function GetExcelApp() As Object 
     ' always create new instance
    On Error Resume Next 
    Set GetExcelApp = CreateObject("Excel.Application") 
    On Error GoTo 0 
End Function 
Function IsFileOpen(FileName As String) 
    Dim iFilenum As Long 
    Dim iErr As Long      
    On Error Resume Next 
    iFilenum = FreeFile() 
    Open FileName For Input Lock Read As #iFilenum 
    Close iFilenum 
    iErr = Err 
    On Error GoTo 0      
    Select Case iErr 
    Case 0: IsFileOpen = False 
    Case 70: IsFileOpen = True 
    Case Else: Error iErr 
    End Select      
End Function 

After working through a few other errors that I could manage, the error object variable or with block variable not set occurs at Set xlwksht = xlwkbk.Sheets(1) (Line 46). The variables appear to be assigned properly and the spreadsheet definitely exists, properly named, on the desktop.

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