Abstract: This paper presents comparative analysis of Rayleigh model, HZC model and Weibull model in model development and feature as well as mathematical relationships among the maximum annual production, the maximum annual cumulative production and the recoverable reserves. The study indicates that the cumulative production at the maximum annual production from Rayleigh model amounts to 39.35% of recoverable reserves, and this model can be appropriate for oil and gas fields with production rate increasing rapidly first and then decreasing quickly after reaching the peak annual production; the relationship between the cumulative production and recoverable reserves at the maximum annual production from HZC model is controlled by the parameter B, it can be more widely used compared with Rayleigh model; however, the relationship between them from Weibull model is governed by the parameter α, so its applicability is the widest of the three models