Oolitic dolostone is a vital type of carbonate reservoirs. The quantitative calculation and prediction of the reservoir permeability and gas saturation provide an important foundation for the further development of the reservoir, which could determine productivity and select the optimum exploitation layers in the dolostone. The general permeability model links geology and reservoir properties via rock number λ, which varies regularly within a depositional cycle. By using λ, the permeabilities and their changing trend can be indicated within a high resolution depositional framework. The cementation index m, an important parameter in calculating gas saturation by Archie formula, varies with the pore type in the dolostone. The permeability profile resulted from the permeability model by using the primary water saturation, porosity from thin sections, cores, debris, and well logging data; and the gas\|saturation profile from the Archie formula combining with the values of m and formation\|water resistivities in the oolitic reservoir, both of them act as the basis for optimizing development program of the gas reservoir in the dolostone after it was discovered.