Reserves estimation is one of the most crucial tasks in the petroleum industry. It is the process by which the economically recoverable hydrocarbons in a field, area, or region are evaluated quantitatively. A major goal in this initiative is preparation of training modules that depict industry’s recommended practices. The scope of this investigation was limited to comparing two of the various methods of estimating reserve. These methods encompass: Volumetric and Material Balance. The volumetric estimation procedure was based on a detailed geological analysis. The Area vs. Depth graph was plotted using planimetry readings, and this was used to estimate the reservoir bulk volume. Arithmetic averages of petrophysical data from five wells were used. The Net-to-Gross ratio of the average sand thickness was estimated from log responses; and thus, the reserve was estimated with this method. The Material balance method was carried out using Pressure, Volume and Temperature (PVT) data, pressure and production history of the reservoir. The reservoir used as a case study has a combination drive mechanism; thus, the water influx was calculated using Hurst and Van Everdingen model. The Havlena and Odeh linear form of material balance equation was employed. The reserve estimate obtained from the Volumetric and material balance methods are in close agreement.