Paragon Offshore plc (fka PGNPQ)

[SPARK]

We believe we are making progress in achieving our objective to

improve the long-term capital structure of the company. Paragon's

substantial cash position at December 31, 2015, more than $750

million, provides us with flexibility as we negotiate. Furthermore,

it allows us to continue to meet all of our obligations to

suppliers, employees, and others as we deliver safe, reliable, and

effective operations to our customers in the normal course of

business."