The geological estimated hydrocarbon reserves of the Mesozoic granite buried-hill reservoir in the PL oilfield exceed 200 million tons. During the exploration stage, it was commonly considered that the PL buried-hill reservoir should demonstrate a “layered” edge water reservoir mode, because of weathering and tectonics. However, during a later stage, the formation of water was found at structurally high locations, which does not fit the intuition. Therefore, a suitable model is still lacking. Based on the comprehensive information of thin-section, core plug, well logging, and seismic data, etc., the buried-hill of the PL oilfield was re-divided into three northeast–southwest-trending zones. In this model, the reservoir is layered, with each layer having the characteristics of bottom water and two kinds of horizontal and vertical seepage. This new model fits the field-drilling test very well. These insights can effectively guide the exploration and development practice for this kind of buried-hill.