TIDMEXXI

RNS Number : 6994P

Energy XXI (Bermuda) Limited

03 October 2013

Energy XXI (Bermuda) Limited ("Energy XXI" or "the Company")

Exchange of 5.625% Convertible Perpetual Preferred Stock

Energy XXI announces the closing of exchange agreements (the "Exchange Agreements") with a holder of the Company's 5.625% Convertible Perpetual Preferred Stock, par value $0.001 per share (the "Preferred Stock"), to issue shares (the "Exchange Securities") of the Company's common stock, par value $0.005 per share (the "Common Stock"), in exchange for 149 total shares of Preferred Stock.

Pursuant to the Exchange Agreements, the Company has issued a number of shares of Common Stock equal to the sum, rounded up to the next whole number, of the number of shares of such Preferred Stock multiplied by 10.0147.

Accordingly, 1,493 new shares of Common Stock have been issued for the above conversion.

After such issuance, the Company has a total of 75,801,748 common shares in issue, excluding 3,853,563 treasury shares, and 813,039 shares of 5.625% Preferred Stock outstanding.

Application has been made for the 1,493 new shares of Common Stock to be admitted to trading on AIM and admission is expected to occur on or around 10 October 2013.

3 October 2013

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

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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