This report is a study of the maximum depth of burial of Rakopi source rocks, thermal maturation of these source rocks and volume estimates of expelled hydrocarbons in two areas. The first is defined by PEP38460 and includes a small area to the SE, representing a potential kitchen area for the permit. The second area covers the Pakawau sub-basin to the SE of this area, and represents a potential hydrocarbon source associated with much longer migration pathways. By backstripping of the regional structural data a maximum depth of burial of just over 5 km for Rakopi source rocks was determined near PEP38460, and just over 7 km in the Pakawau sub-basin. Area 1 was predicted to have expelled 7-14 km3 of hydrocarbons and area 2 to have expelled 14-19 km3. Other methods of calculating expelled hydrocarbons were also used and comparisons made.