Energy XXI Declares Quarterly Stock Dividends on Preferred and Common Shares

Energy XXI Declares Quarterly Stock Dividends on Preferred and Common Shares

HOUSTON, Jan. 30, 2013 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) (LSE:EXXI)
today announced its Board of Directors 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 March 15, 2013 to the holders
of record on March 1, 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.

The Board of Directors also declared a quarterly dividend of $0.07 per share
of common stock, to be paid on March 15, 2013 to shareholders of record on
March 1, 2013.The company currently has 79,357,084 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.

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.Seymour Pierce is
Energy XXI's listing broker in the United Kingdom. To learn more, visit the
EnergyXXI website at www.EnergyXXI.com.

The Energy XXI logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3587

CONTACT: 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
        
         Seymour Pierce
         David Porter, Rick Thompson - Corporate Finance
         Richard Redmayne - Corporate Broking
         Tel: +44 (0) 20 7107 8000
        
         Pelham Bell Pottinger
         James Henderson
         jhenderson@pelhambellpottinger.co.uk
         Mark Antelme
         mantelme@pelhambellpottinger.co.uk
         +44 (0) 20 7861 3232

Energy XXI Logo 2
 
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