The Gladstone-1 exploration well was spudded on 30th November 2019 within PEP 57075 (Cloudy Bay), offshore Taranaki Basin. The COSL Prospector drilled the vertical well to a total depth of 3050 mMDSS, reached on 17th December 2019. Gladstone-1 was designed to be plugged and abandoned regardless of geological result, and this was completed on 23rd December 2019. Three cement plugs were placed in the well, the surface casings and conductor strings cut, and the casing string retrieved to the rig. Rig release occurred on 27th December 2019.