The Liaohe basin is situated at the northern section of the Baohai Bay rift system. It is a fault depression developed in the Mesozoic and Cenozoic. The northern sect of the east sag in the Basin, also called rift section, was developed with typical characteristics of rift basins. It is a complex fault depression basin parallel to the strike of the Liaohe basin, which can be demonstrated by the research of the interpretation section of traverse in the northern sect of the east sag, The complex fault depression is a combination of two or more half grabens, with each of these grabens having its own independent sediment-supplying systems. Once these half-grabens were filled, there would have a uniform sediment-supplying system and drainage system and would continue to develop as a larger entity of the faulting depression. The fault side of the half-graben is usually developed with complete depositional sequences while the slope side of the half graben is usually developed with incomplete sequences with absence of lowstand systems tract or regressive systems tract. Depositional sequences in different depressions of the complex faulting lacustrine basin were mainly controlled by both the episodic tectonic movements with different orders and the periodical palaeoclimatic variations. Both of these parameters controlled fluctuation of lake level and also variations in accommodation spaces. Because the adjacent faulting depressions have different sedimentary sources, in a certain period, each of these depressions has its own independent sedimentary systems, which resulted in differences in the development of the combination of source-reservoir-capping rocks. The condensed section with maximal thickness were developed at a place between TST and HST, constituting regional source rocks whereas the favorable reservoirs were developed at the bottom of LST and TST and the top of HST and RST. The condensed section can also serve as cap beds of the reservoirs in the TST and LST. In consideration of above analyses, in the complex fault lacustrine basin at the northern sect of east sag, oil and gas were mainly enriched in RST, TST and LST, where favorable tectonic lithofacies associations were developed. It is suggested that there are some regularities for types and scales of the reservoirs in the sequence stratigraphic framework. The slope side of the half-graben is usually developed with onlap and unconformity shade oil reservoir types, while the fault side of the half-graben is usually developed with lenticular and anticline oil reservoir types; The most important controlling factors are the development of source-reservoir-cap combinations and its relationship with favorable tectonic traps.