Advertisement: "Shares of a small Houston oil and gas player shot up higher in extraordinarily heavy volume Friday on positive financial news and prospects that its deep-water plays in the Gulf of Mexico could pay off.
Energy XXI (Bermuda) Ltd. (NASDAQ: EXXI) released fiscal 2009 year-end results and also reported that it had negotiated a debt exchange offer for as much as $360 million in senior notes.
Nearly 31 million Energy XXI shares traded hands, pushing the price of the stock as high as $1.58, double the Sept. 3 close of 79 cents. The stock finished the day at $1.45, up 84 percent. The company has 145 million shares outstanding."
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Sunday, September 6, 2009
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