Exhibit 99.1

Energy XXI Announces Cash Dividend

HOUSTON – Nov. 3, 2008 – Energy XXI (Bermuda) Limited (NASDAQ: EXXI) (AIM: EXXI) today announced that its board of directors 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 Dec. 5, 2008, to stockholders of record at the close of business on Nov. 14, 2008.

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.  Collins Stewart Europe Limited and Tristone Capital Limitedare Energy XXI listing brokers in the United Kingdom.  To learn more, visit the Energy XXI website at www.energyxxi.com.

Enquiries of the Company

Energy XXI (Bermuda) Limited

Stewart Lawrence

Vice President, Investor Relations and Communications

+1 713-351-3006

slawrence@energyxxi.com

Collins Stewart Europe Limited

Nominated Adviser and Joint UK Broker

Seema Paterson

+44 207 523 8321

spaterson@collins-stewart.com

Pelham PR

James Henderson

+44 207 743 6673

james.henderson@pelhampr.com

Alisdair Haythornthwaite

+44 207 743 6676

alisdair.haythornthwaite@pelhampr.com