Abstract: The Zhujiang and Zhuhai Formations are usually regarded as the main traditional exploration targets in the ZhuⅠDepression, Pearl River Mouth Basin. Recently, under the guidance of the idea of "compound reservoir" and "stereoscopic exploration", more studies have been devoted to the new areas and formations. A large amount of commercial reservoirs have been discovered in the shallow strata (Hanjiang and Yuehai Formations) in the Panyu 4 Sag. The total reserves are about 2051 10⁴m³. Reservoir quantities, reserves, saturation and reservoir physical properties of the shallow strata are better than those of the underlying strata. The shallow reservoirs are controlled by petroleum sources, sedimentary systems, dip direction of source rocks and regional cap rocks, later-stage faults and sealing capabilities. According to the studies of reservoir features as well as oil accumulation in shallow strata, it is believed that the Panyu 4 Sag, the middle and western Huizhou Depression and Enping Depression have great potential for oil exploration.