The full-back went on a charge in the 40th minute and, after accepting the ball from Robbie Keane, fired home into the top corner from the right edge of the Leicester penalty area.
It sparked a naturally esctatic reaction from the Canadian but joy was short-lived as the home side managed a reply before the break that completely altered the course of the game.
"Unfortunately it means nothing now," said Paul of his strike. "You can't allow yourself to go two goals up away from home and then give up three after that. It is a major disappointment for us to get knocked out of the cup again and all the goals they scored could have been prevented from our point of view.
"We allowed them to get the goals, but I still think we created enough chances to score more. You have to give them credit, they fought and battled for the 90 minutes.
They could have dropped their heads after going two down, but they didn't and made it tough for us
"When you score a second goal at that point you have to be careful and make sure you see the half out. Letting in a goal before half-time gave them a bit of momentum, we gave them a bit of life going into the second half.
"We are out of the cups and have to focus on the league now as it is all we can play for. We have to look to finish in the top six and anything outside of that would be a disappointment for us."
It is back to Premiership business on Saturday, a challenge the 28-year-old says the team must immediately focus on.
"It is going to be a difficult game and it will be our third away game in a row. Liverpool have an excellent record at home and don't let in many goals. We must re-group mentally and physically and go again."
Paul Stalteri said his spectacular first goal in a Spurs shirt means nothing to him now.