There are 5000～6000m thickness of alternated Upper Sinian-Triassic carbonate rock and clastic rock in Huangping Sag, in which a large scale of hydrocarbon migration and accumulation took place during historical periods and abundant hydrocarbon resources can be supplied for Central Guizhou Uplift and its adjacent areas. Based on the comprehensive analysis and study on geologic structures, strata and it's hydrocarbon-bearing property, hydrocarbon accumulation conditions, geophisics and drilling data, there are three sets of main source rocks, which are Sinian Doushantuo black carbonaceous shale (belongs to "good"source rock), Lower Cambrian Jiumenchong carbonaceous shale and limestone, and Lower Cambrian Bianmachong-Balang shale and mudstone(belong to "relatively good"). The hydrocarbon-bearing reservoirs are Lower Cambrian Jiumenchong limestone and Bianmachong-Balong sandstone, and mainly Silurian Wengxiang sandstone interlayers near the Silurian/Lower Ordovician unconformity. There are several Paleozoic caps, some of which are thick and wide-distributed. Hydrocarbon source is well matched with traps. The shallow seismic data available recently have further proved that some prospecting structural traps, such as Huzhuang anticline and Yudong syncline, exist in this area.