Energy XXI Declares Regular Quarterly Dividends On Common And Preferred Shares

HOUSTON, July 23, 2013 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) (LSE:EXXI) today announced its Board of Directors declared a quarterly dividend of $0.12 per share of common stock. The dividend is to be paid on Sept. 13, 2013 to shareholders of record on Aug. 30, 2013. The company currently has 75,575,081 shares of common shares outstanding. The Board of Directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.

The Board of Directors also declared a $1.8125 per share quarterly dividend on its shares of 7.25% Convertible Perpetual Preferred Stock, which have a face value of $100 per share, and a $3.5156 per share quarterly dividend on its shares of 5.625% Convertible Perpetual Preferred Stock, which have a face value of $250 per share. Dividends on both issues will be paid in cash on Sept. 13, 2013 to the holders of record on Aug. 30, 2013. The company currently has 8,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 813,188 shares of its 5.625% Convertible Perpetual Preferred Stock outstanding.

About the Company

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company's properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. Cantor Fitzgerald Europe is Energy XXI's listing broker in the United Kingdom. To learn more, visit the Energy XXI website at www.EnergyXXI.com .
CONTACT: ENQUIRIES OF THE COMPANY                  Energy XXI         Stewart Lawrence         Vice President, Investor Relations and         Communications         713-351-3006         slawrence@energyxxi.com         Greg Smith         Director, Investor Relations         713-351-3149         gsmith@energyxxi.com                  Cantor Fitzgerald Europe         Nominated Adviser: David Porter, Rick Thompson         Corporate Broking- Richard Redmayne         Tel: +44 (0) 20 7894 7000                  Pelham Bell Pottinger         James Henderson         jhenderson@pelhambellpottinger.co.uk         Mark Antelme         mantelme@pelhambellpottinger.co.uk         +44 (0) 20 7861 3232

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