The source-proximal accumulation is a common model of hydrocarbon accumulation for reef reservoirs. The source-distal accumulation is seldom. Organic reefs can provide favorable space for reservoir and the proximate argillaceous shale and/or carbonate rock around the reefs can act as good source rock and/or cap rock. The model of source-proximal accumulation includes two types, the single sourced and the multiple sourced. The former means there is only a single set of source rock in it and the latter means there are two or more sets of source rock. The relationship of hydrocarbon sources and reservoirs and the affection of it on exploration are discussed. It is believed that it would be favorable to hydrocarbon migration and accumulation in reef reservoirs only if good source and sealing conditions existed in the strata around reefs.