Minhe basin, located in the boundary between Gansu and Qinghai, abounds in oilgas resources through over 70-year’s exploration. However, the study and exploration is still at a low level. This paper lists lots of oil evidences in surface in field, and carries out a study on oil reservoir in two oilfields with results of oil 3.02×10⁸ t and gas 493.83×10⁸ m³ through basin simulation. This basin, of big oil-gas potential, is one of favorable oil-gas basins to be developed. It is recommended for government and oil-gas companies to do more studies and to invest more in Minhe basin. And these two discovered oilfields shall be submitted to National Reserve Committee with explored reserve and shall be put into operation.