Case CSS Doc 418 Filed 06/01/16 Page 1 of 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

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1 Case CSS Doc 418 Filed 06/01/16 Page 1 of 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: ) Chapter 11 ) ) Case No (CSS) PARAGON OFFSHORE PLC, et al., ) ) (Jointly Administered) ) Related to Docket No. 395 Debtors. ) ) OBJECTION OF CEVA FREIGHT, LLC TO DEBTORS STATED CURE AMOUNTS AS SET FORTH IN THE NOTICE OF (A) EXECUTORY CONTRACTS AND UNEXPIRED LEASES TO BE ASSUMED BY THE DEBTORS PURSUANT TO THE PROPOSED PLAN, (B) CURE AMOUNTS, IF ANY, AND (C) PROCEDURES IN CONNECTION THEREWITH CEVA Freight, LLC ( CEVA ), by and through its undersigned counsel, hereby objects to the proposed cure amounts set forth in the Notice of (A) Executory Contracts and Unexpired Leases, to be Assumed by the Debtors Pursuant to the Proposed Plan, (B) Cure Amounts, if Any, and (C) Procedures in Connection Therewith [Docket No. 395] (the Assumption and Cure Notice ), and in support thereof states as follows: 1. On February 14, 2016 (the Petition Date ), the Debtors each commenced a case under Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code ). The Debtors cases have been administratively consolidated. 2. Prior to the Petition Date, CEVA and Paragon International Finance Company along with certain of its affiliates 1 entered into a Master Service Agent Agreement on July 1, Specifically including (1) Paragon Offshore do Brasil Ltda,, (2) Paragon Offshore International Ltd., (3) Paragon Leonard Jones LLC, (4) Paragon Offshore (Nederland) B.V., and (5) Paragaon Offshore Contracting GmbH.

2 Case CSS Doc 418 Filed 06/01/16 Page 2 of 3 (the Contract ), pursuant to which they continued to do business at the time of the Petition Date and continuing thereafter, to and including the present. 3. On April 6, 2016, the Bankruptcy Court entered an order [Docket No. 248] approving the Disclosure Statement for the Second Amended Joint Chapter 11 Plan of Paragon Offshore plc and Its Affiliated Debtors. 4. A hearing to consider confirmation of the Debtors Second Amended Joint Chapter 11 Plan (the Plan ) has been scheduled for June 21, The Plan provides for assumption of certain contracts to be designated by the Debtors. 6. On May 20, 2016, the Debtors filed their Assumption and Cure Notice, which includes a List of Executory Contracts and Unexpired Leases to Be Assumed by the Debtors on the Effective Date [of the Plan] (the Assumption Schedule ). The Assumption Schedule is attached as Exhibit 1 to the Notice, and is also attached to the Plan Supplement as Exhibit G. In the Assumption Schedule, the Debtors list the proposed cure amounts for the various contracts and unexpired leases included on the Schedule. 7. The Assumption Schedule includes the Contract, and lists a cure amount of $0. 8. CEVA objects to the Debtors proposed cure amount for the Contract as it is inaccurate and insufficient to cure all amounts currently unpaid and past due under the Contract. CEVA s correct cure amount should be (i) $ for pre-petition amounts unpaid and overdue under the Contract, (2) $250, for post-petition amounts unpaid and overdue under the Contract, and (3) any and all other amounts CEVA is entitled to under the Contract, including but not limited to amounts currently due but not yet overdue (the Correct Cure Amounts ). The details regarding the Correct Cure Amounts are set forth on Exhibit A attached hereto.

3 Case CSS Doc 418 Filed 06/01/16 Page 3 of 3 9. CEVA reserves any and all rights to supplement or amend this Objection or the Correct Cure Amounts. WHEREFORE, CEVA respectfully requests that any assumption of the Contract be conditioned upon payment of the Correct Cure Amounts, and such other and further relief as is just and proper under the circumstances. DATED: June 1, 2016 Respectfully submitted, /s/ Noel C. Burnham Noel C. Burnham (I.D. No. 3483) Burnham Law Associates, LLC 10 Berger Court Middletown, DE nburnham@burnhamlawassociates.com Local Delaware Bankruptcy Co-Counsel for CEVA Freight, LLC -and- FROST BROWN TODD LLC Sara L. Abner Patricia K. Burgess 400 West Market Street, 32nd Floor Louisville, KY Telephone: (502) Facsimile: (502) Bankruptcy Co-Counsel for CEVA Freight, LLC

4 Case CSS Doc Filed 06/01/16 Page 1 of 3 EXHIBIT A v1

5 Case CSS Doc Filed 06/01/16 Page 2 of 3 Total Outstanding Current ( Not Overdue) Total Overdue Station Post-Petition Post-Petition Post-Petition Overdue ( Pre-Petition) (USD) (USD) (USD) (USD) Aberdeen $127, $84, $42, Amsterdam $56, Dubai $54, $51, $3, Rio $13, $19, $111, IAH $166, $74, $92, $824.69

6 Case CSS Doc Filed 06/01/16 Page 3 of 3 Station Currency Aberdeen Amsterdam Dubai AED Rio BRL IAH $