Analyses have been undertaken on 21 carbonaceous rocks from five exploration wells within and surrounding PEP 38512 including; Arnold River-1, Glenn Creek-1, Hohonu-1, Mawhera-1 and Niagara-1. Specific aims of the study were to determine the maturity, their kerogen quality, source potential and provide recommendations for any follow-up analyses. Conclusions of the study are; 1. The average TMax and R0 values respectively are 418 to 431 C and 0.34-0.46. 2. Most new and existing samples from the Paparoa Group have good to excellent generative potential for oil and/or gas. 3. Two samples from the Mawhera Sandstone in Niagara-1 have very good potential for oil 4. Three newly analysed coals from Arnold River-1 and Mawhera-1 are marine influenced. 5. New oil shows discovered in the Mawhera Sandstone and Paparoa Group and Mawhera Sandstone in Niagara-1 extend the known distribution of oil shows down into the Late Eocene and Late Cretaceous sequences in these wells, consistent with vertical migration from the Paparoa Group.