HOUSTON, June 2, 2014 (GLOBE NEWSWIRE) -- Energy XXI (Bermuda) Limited ("Energy XXI") (Nasdaq:EXXI) (AIM:EXXI) and EPL Oil & Gas, Inc. ("EPL") (NYSE:EPL) jointly announced today the final results of the merger consideration elections made by EPL stockholders prior to the election deadline, which expired on Friday, May 30, 2014, at 5:00 p.m., Eastern time.
|Cash Election, excluding stock option net exercise shares||30,578,387|
|Mixed Election, including no election||2,643,862|
|No Election (Note 1)||4,725,666|
|Cash Election, excluding stock option net exercise shares||$25.92||0.5595|
|Mixed Election, including no election||$25.35||0.5840|
The Merger is expected to be completed on or about June 3, 2014, subject to certain customary closing conditions.SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements concerning the proposed transaction, its financial and business impact, management's beliefs and objectives with respect thereto, and management's current expectations for future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical facts. The words "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "intends," "likely," "will," "should," "to be," and any similar expressions or other words of similar meaning are intended to identify those assertions as forward-looking statements. It is uncertain whether the events anticipated will transpire, or if they do occur, what impact they will have on the results of operations and financial condition of Energy XXI, EPL or of the combined company. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to the ability of the parties to satisfy the conditions precedent and consummate the proposed transaction, the timing of consummation of the proposed transaction, the ability of Energy XXI to integrate the acquired operations, the ability to implement the anticipated business plans following closing and achieve anticipated benefits and savings, and the ability to realize opportunities for growth. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in the documents filed with the SEC by Energy XXI and EPL from time to time, including their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements included in this press release are made only as of the date hereof. Neither Energy XXI nor EPL undertakes any obligation to update the forward-looking statements included in this press release to reflect subsequent events or circumstances. About Energy XXI 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 . About EPL Founded in 1998, EPL is an independent oil and natural gas exploration and production company headquartered in Houston, Texas with an office in New Orleans, Louisiana. The company's operations are concentrated in the U.S. Gulf of Mexico shelf, focusing on the state and federal waters offshore Louisiana. For more information, please visit www.eplweb.com .
CONTACT: ENQUIRIES OF EXXI Energy XXI Stewart Lawrence Vice President, Investor Relations and Communications 713-351-3006 firstname.lastname@example.org Greg Smith Director, Investor Relations 713-351-3149 email@example.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 firstname.lastname@example.org Mark Antelme email@example.com +44 (0) 20 7861 3232 ENQUIRIES OF EPL EPL T.J. Thom Executive Vice President, Chief Financial Officer firstname.lastname@example.org Brunswick Group Mark Palmer 214-254-3790 email@example.com Ward Deborah Buks 713-869-0707 firstname.lastname@example.org Molly LeCronier 713-869-0707 email@example.com