Shale gas ＆ oil has been tapped as one of the most important unconventional hydrocarbon resources since the discovery of petroleum, and its exploration and development has been one of the most inspiring technical achievements in petroleum geology and engineering during the past half century. In particular, the commercial extraction of shale oil ＆ gas in North America has brought a worldwide energy revolution, which is quickly spreading to China, resulting in a nationwide shale gas rush. However, the discussion from any angle shows that it will be a long and tough road for whatever country to duplicate the shale gas success in North America. Since China shale gas exploration started in 2009, PetroChina, Sinopec and Shell China have made major achievements in the explo- ration of the Lower Paleozoic marine shale gas in the Sichuan Basin, which has made China the only nation that has registered com- mercially viable production of shale gas through pipelines outside of North America. Although the extracted shale gas at present is only a drop in the bucket of China＇s total natural gas production, it would be a good start. Therefore, through the analysis of the sta- tus quo of shale gas exploration and the reflection on the great shale gas rush in recent years, this paper discloses all kinds of issues in shale gas exploration and appraisal. It also suggests that further studies should be made in the aspects of terrestrial and marine shale gas exploration in complex geological settings in South China, and more scientific studies on and serious thinking over the as- sessment of shale gas resources and development planning. Not only should importance be attached to shale gas development opportunities, but the extremely high risks should be mitigated in shale gas exploitation.
