Energy XXI (Bermuda) Limited Repurchase of Shares Replacement (1648F)

TIDMEXXI

RNS Number : 1648F

Energy XXI (Bermuda) Limited

21 May 2013

FOR IMMEDIATE RELEASE: CORRECTION - In its press release 20 May 2013, the Company provided inaccurate information regarding the limitations on its Rule 10b5-1 Trading Plan. The corrected information is provided below.

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

Repurchase of Shares

Energy XXI announces that the Company has entered into a Rule 10b5-1 Trading Plan ("the Plan") as part of its previously announced $250 million Share Repurchase Program.

Under the Plan, the Company has granted Credit Suisse Securities (USA) LLC the irrevocable authority to buy up to US $50 million in $0.005 common stock ("Shares") in the Company (the "Plan Shares"), subject to meeting certain conditions. The US $50 million limit excludes any open market purchases made by the Company. As repurchases under the Plan are subject to certain guidelines and other conditions, there is no guarantee as to the exact number of Plan Shares that will be repurchased under the Plan. The Plan has a start date of 1 June 2013 and terminates on 16 August 2013.

The Company will make appropriate announcements of the Plan Shares repurchased every two weeks. The announcement will include the number of Plan Shares repurchased, the average price paid for the repurchased Plan Shares and the high and low prices paid for the Plan Shares.

21 May 2013

Enquiries of the Company

Energy XXI

Stewart Lawrence

Vice President, Investor Relations and Communications

713-351-3006

[e-mail]

Greg Smith

Director, Investor Relations

713-351-3149

[e-mail]

Cantor Fitzgerald

Nominated Adviser: David Porter, Rick Thompson

Corporate Broking: Richard Redmayne

Tel: [phone]

Pelham Bell Pottinger

James Henderson

[e-mail]

Mark Antelme

[e-mail]

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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