Energy XXI Prices $750M of Senior Notes

Energy XXI (Bermuda) Limited reported that its subsidiary, Energy XXI Gulf Coast, Inc., has priced an aggregate of $750 million of its Senior Notes due 2013 at par with a coupon of 10% in a private placement in the United States in reliance on Section 4(2) and/or Regulation D of the Securities Act of 1933, as amended (the "Securities Act"), and in offshore transactions to non-U.S. persons in reliance on Regulation S of the Securities Act. The offering is expected to close on June 8, 2007 and is subject to execution of definitive subscription documents and other customary closing conditions.

Net proceeds of the proposed offering and additional borrowings under the company's first lien revolving credit facility are intended to fund the previously announced acquisition of certain oil and natural gas properties in the Gulf of Mexico from Pogo Producing Company and to repay the company's second lien revolving credit facility in full.


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