Energy XXI Amends Subsidiary's Cash Tender Offer For Its 10% Senior Notes Due 2013

HOUSTON, Feb. 18, 2011 (GLOBE NEWSWIRE) -- Energy XXI (Bermuda) Limited ("Energy XXI") (Nasdaq:EXXI) (LSE:EXXI) today announced an amendment to the offer by its wholly owned subsidiary, Energy XXI Gulf Coast, Inc., to purchase for cash any and all of such subsidiary's 10% Senior Notes due 2013. Energy XXI and each of Energy XXI Gulf Coast Inc.'s subsidiaries has unconditionally guaranteed the obligations of Energy XXI Gulf Coast, Inc. under the notes.

The company has amended the offer by reducing the base denomination of the notes required to be tendered from $2,000 (and integral multiples of $1,000 in excess thereof) to $1 (and integral multiples of $1 in excess thereof).

The offer continues to expire at 12:00 midnight EST on March 10, 2011, unless extended or earlier terminated. The offer is not subject to the receipt of any minimum amount of tenders.

The complete terms and conditions of the offer are set forth in an Offer to Purchase and related Letter of Transmittal that were sent to holders of notes. Copies of the Offer to Purchase and Letter of Transmittal may be obtained from the Depositary and Information Agent for the Offer, D.F. King & Co., Inc. at [phone] (US toll free).

RBS Securities Inc. is the Dealer Manager for the tender offer. Questions regarding the offer may be directed to RBS Securities Inc. at [phone] (toll-free) and [phone] (collect).

This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes or any other securities. The offer is made only by and pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal. None of Energy XXI Gulf Coast, Inc., Energy XXI (Bermuda) Limited, the Dealer Manager or the Tender Agent and Information Agent makes any recommendations as to whether holders should tender their notes pursuant to the offer.