TIDMEXXI

RNS Number : 4621J

Energy XXI (Bermuda) Limited

07 August 2012

Energy XXI Declares Quarterly Stock Dividends on Preferred and Common Shares

HOUSTON - Aug. 7, 2012 - 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 Sept. 14, 2012 to the holders of record on Aug. 31, 2012. The company currently has 8,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 814,019 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 Sept. 14, 2012 to shareholders of record on Aug. 31, 2012. The company currently has 79,286,970 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 Energy XXI website at www.EnergyXXI.com.

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

Seymour Pierce

Jonathan Wright - 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCVDLBBLVFFBBE

Energy Xxi (DI) (LSE:EXXI)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Energy Xxi (DI) Charts.
Energy Xxi (DI) (LSE:EXXI)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Energy Xxi (DI) Charts.