This report integrates the results of the Moki-1 well into the previous geological and geophysical studies carried out, evaluates the reserves discovered to date and summarises the remaining prospects in the licence. It concludes that the northern lobe of the Moki structure contains 54 million STB proven oil-in-place, 19 million STB recoverable. There is little likelihood of finding substantial additional volumes of oil in the Maui-4 structure, where the Kapuni contains approximately 30 million STB oil-in-place. Following re-mapping and more sophisticated depth conversion, potential reserves in the Delta prospect are now calculated to be up to 60 million STB recoverable for the Mokau and up to 90 million STB recoverable for the Kapuni.