PAE is an acronym for Physical Address Extension.
This is a technology that was introduced in desktop CPU's around 1995, but was notoriously left out of or not displayed in the CPUID of a lot of mobile chips until around 2005.
Your Laptop (Dell Inspiron 500m), is showing you this error when trying to boot because your CPU lacks the PAE extension required to run this version of Ubuntu.
To be more specific, your CPU is probably the Intel Pentium M (Code Named "Banias"), which had a fault where internally, the CPU does actually support PAE, however due to either a fault or design error, it does not show this in the CPUID.
Unfortunately, there is no real way to fix this as it's a physical problem, but there may be other options (further reading)
This is not uncommon in older laptops.
You could perhaps try another another distro with a 486 non-PAE kernel. Maybe something like LMDE?
Good luck!
forcepae
boot option should work. See the other linked question. – David Foerster Nov 14 '16 at 01:55