Paragon Offshore Offers Comments Related to Pareto Securities Conference

Paragon Offshore plc ("Paragon")(NYSE: PGN) President and Chief Executive Officer Randall D. Stilley spokerecently at the Pareto Securities Oil and Offshore Conference in Oslo,Norway.  In prepared remarks, the accompanying slides for which are availableon Paragon's website at www.paragonoffshore.com, Stilley commented on thestrength of the business, steady market outlook for the standard specificationjackup business, and Paragon's history of delivering safe, reliable, and costeffective services to its customers."I am confident in Paragon's position in the standard specification drillingmarket," Stilley said. "Paragon enjoys a backlog of $2.3 billion as of June30, 2014, stretching into 2017.  Furthermore, we anticipate announcing newcontracts and contract extensions in a variety of regions in the coming monthsthat will extend our backlog and further demonstrate the continuedmarketability of our rigs."Stilley also addressed Paragon's capital allocation strategy.  "Management andthe board of directors are committed to the long-term strength of Paragon andto increasing shareholder value.  Our board is currently discussing ourstrategy for capital allocation, including our dividend policy, and theCompany anticipates making an announcement regarding this topic by the end ofSeptember."Stilley concluded, "The fundamentals of our business are strong, ouroperations are proceeding well, and our customers have been very supportive ofParagon's strategy and position in the market.  We look forward to takingadvantage of opportunities to grow our business in the coming years."