Abstract: Huacha Oilfield in Baise Basin is small and has many small block faults, carbonate reservoirs of whic are primarily factured caverns. Fractured cavern carbonate reservoir is characterized by various complex pores and severe heterogeneity. Hence it is difficult to evaluate them. Based on the basic logging data, this paper analyzes the characteristics of fractured cavern carbonate reservoir and develops the interpretation model of the reservoir parameters such as porosity, permeability and saturation, and evaluate fracture development. Multiple methods of distinguishing fluid properties has been researched by use of the mathematical method, and a set of principal techniques of reservoir log evaluation have been developed and obtains a satisfied result in practice, so that meet the requirement of the oil field exploration.