Abstract: With application of the sequence stratigraphy theory and method, Feixianguan Formation in Northern Sichuan is divided into five sequences and ten regional systems and the sequence stratigraphic configuration is also established for study of Feixianguan Formation. Based on the study of sedimentary facies distribution in the sequential stratigraphic configuration, it is found that the oolitic shaol area on the platform periphery of Feixianguan Formation in Northern Sichuan is about 30,000 square kilometers, distributed in three belts. Of those, two belts are controlled by the Kaijiang-Liangping sea trough while another belt is controlled by Exi-Chengkou sea trough. Five favorable plays are selected on the basis of integrated analysis, such as Wenquanjing-Jinzhuping, Tieshan-Huangnitang, Shatuo-Macaoba, Yilong-Yingshan and Jiangyou-Guangyuan. Of those zones, Wenquanjing-Jinzhuping and Tieshan-Huangnitang are the relative mature zones for exploration and further exploration should be focused on these two zones. The three zones of Shatuo-Macaoba, Yilong-Yingshan and Jiangyou-Guangyuan are under low degree of exploration and study. Integrated geological study should be stepped up for those three zones in order to seek the favorable traps to make breakthrough as soon as possible.