This report discusses the prospectivity of permit PEP 60092 following the drilling of the exploration wells Galdstone-1 and Toutouwai-1. Forward work programmes for the exploration permit aims to investigate potential hydrocarbon-bearing traps primarily within the Cretaceous sequences, though additional potential is identified in Paleocene shallow marine sandstones of the Farewell Formation (F sands) and in the Miocene deep-water clastic reservoirs of the Manganui (Moki Sandstone) and Otunui (Sw) formations.