Energy XXI Declares Regular Quarterly Cash Dividend

Energy XXI has declared a regular quarterly cash dividend on the company's common stock. A dividend of $.005 per share was declared on the company's outstanding unrestricted and restricted common stock, payable March 13, 2009, to stockholders of record at the close of business on Feb. 20, 2009.

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.