The Pearl River Mouth Basin is located in the northern South China Sea and extends in to Taiwan. The basin provides explorers with an opportunity to test gas potential in deepwater and oil on the shelf. Historically, explorers focused on shallow water liquids potential. But attention switched to the deepwater after Husky's play-opening Liwan gas discovery in 2006. A two-year E&A program proved up additional resource and led to China's first ever deepwater development (Liwan, onstream in 2014). Away from Liwan, the deepwater remains largely unexplored and future exploration is expected to focus on the shallow water liquids play. This exploration basin report provides a detailed analysis of recent exploration and future expectations including discovery and development costs, location maps and information about licensing and fiscal terms. We also evaluate the prospective resource and value potential. The report is accompanied by multiple excel downloads.