Oil and gas resources exploration are facing many issues such as high investment costs risks and large uncertainties.Traditional evaluation methods include the Net Present Value, Differential Rents, Reserve Cost method, and Multiple Cost method.Energy Return on Investment (EROI) is a new economic evaluation method in recent years.These methods have their own advantages and disadvantages.This paper expounds the advantages, and shortcomings of different methods in practical application.However, the shortcomings should be avoided to establish a dynamic comprehensive economic evaluation system when implementing various economic evaluation methods.The purpose is to provide a scientific basis for the decision-making of right time selection as well as environmental and social impact for oil and gas resource development.