Hochstetter-1 was spudded on 9 February 2000 as an exploration wildcat well within PEP 38460, offshore Taranaki. Hochstetter-1 was drilled to test the hydrocarbon potential of the Kapuni D and F sandstones within the Hochstetter horst feature. The stratigraphic section penetrated by Hochstetter-1 was as predicted over the prospective interval. Velocities were slower than expected through the upper part of the well such that the Base Tikorangi Limestone, came in some 130m high to prognosis. Both the Kapuni D and F sandstones were well developed, and exhibited excellent reservoir characteristics. Other than weak shows in the uppermost D sandstones, there were no significant shows in the well. TD of 3298 mAHKB was reached on 28 Feburary 2000.