Rinse lamb and pat dry; trim off and discard excess surface fat.
In a small bowl, mix wine, parsley, mint, olive oil, garlic, paprika, bay leaves, and 1/2 teaspoon pepper. Rub all over lamb.
Set lamb on a rack in an 11- by 17-inch pan. Roast in a 375° regular or convection oven until a thermometer inserted through thickest part of meat to the bone registers 140° for medium-rare, about 1 1/2 hours, or 150° for medium, about 1 3/4 hours. If drippings begin to burn, pour water into pan, 1/4 cup at a time, as needed.
Transfer lamb to a rimmed board or platter and, keeping it warm, let stand 10 to 15 minutes. Slice meat from the bone to serve. Add salt and pepper to taste.