| Summary: | On the basis of analyzing the strong and weak points of two ways in the economic evaluation at the preliminary trap prospecting stage before drilling, that is, the integrated exploration and development evaluation and the traditional evaluation by phase, this article establishes a phase evaluation model for reserves prediction and reserves classification, which takes reserves value as cash inflow and exploration cost as the cash outflow. Considering geologic risk and fund efficiency, this model takes the expected net present value and the expected net present value ratio as the criteria for entrapment optimizing. It achieves the single trap evaluation and the trap optimizing under the conditions of nonfund limit and fund limit. The practical application indicates that this model can realize rapid evaluation with reserves value instead of the oil price in the integrated evaluation, and the results are well consistent with the integrated evaluation. This model needs fewer parameters and is easy to operate. Key words: preliminary trap prospecting, trap evaluation, geologic risk, capital efficiency, reserves value
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