Five major geophysical methods and the new related progress are mainly discussed, which include seismic facies recognition and palaeo-geomorphology restoration, seismic attribute analysis, coherence calculation, 3-Dvisualization interpretation and seismic inversion. Reef seismic facies can be summarized to seven types. Horizon flattening technique is helpful to palaeo-geomorphology restoration. The number of seismic attribute increases continuously and the increasing attributes include frequency spectral decomposition and cascade attribute etc. The research progress of seismic attribute can be summarized to 8 aspects. The leading research foreland mainly focuses on pre-stack depth domain and elastic wave. The coherence technique has developed from generation-Ⅰthat is based on cross-correlation calculation to generation-Ⅱthat is based on characteristic value calculation. The virtual reality system is the most significant developing stage of 3-D visualization, which represents the recent progress of it. The prominent progress of seismic inversion is mainly expressed in 4 aspects: (1) from single log inversion to multi-logs combined inversion, (2) from basing on amplitude to basing on seismic attributes inversion, (3) from structural stratum control to sequence stratum control, and (4) from post-stack inversion to pre-stack and post-stack union inversion. Good exploration results have been achieved in application of these geophysical methods to Yunanchang, Huanglongchang and Luojiazhai oilfield areas, Sichuan Basin.