Abstract: petroleum geological conditions of the basin are comprehensively evaluated from the characteristics of strata, sediments, reservoirs, and source rocks based on carrying out plenty of field work. It is determined that the marine black shale in lower Cambrian and the Permian carbonate are source rocks, among which the former is gas source rock and the latter is oil source rock. Permian bioclastic limestone and bioherm are the most favorable reservoirs. The "self-generation and self-storage" pattern of the Permian is referred to be the best source-reservoir-cap rock combination. It is preliminarily estimated that the oil and gas resources is 420million tons in Mayang Basin, which has great exploration potential. It is proposed that the Permian distribution region east of the basin be favorable for exploration, which lays a basis for further exploration and deployment in this region

Key words: Palaeozoic, marine facies, reservoir, source rock, exploration potential, Mayang Basin