The history of petroleum exploration in Lebanon and the known stratigraphic succession and structural evolution are briefly reviewed. The negative results of the six relatively‐deep exploration boreholes so far drilled cannot be regarded as condemning the petroleum potential of Lebanon, in view of the fact that none explored formations older than the earliest exposed (Lower Jurassic) nor the offshore, and particularly in view of the many hydrocarbon indications encountered, especially when the earlier and recent geochemical work results on source rock potential and origin of shows are considered. Correlation with updated surface and subsurface data from Syria and Jordan enhance the probability of favourable seal formation development in the Late Triassic under Lebanon while favourable location for source/reservoir rock facies emerges when the palaeogeography is considered; postulated Palaeozoic facies also offer favourable potential. The effects of limited extrusive phases in the Late Jurassic/Early Cretaceous and the Late Neogene are examined and considered as non‐critical to hydrocarbon accumulation other than on a very limited local structure scale, while the structural effects of Neogene horizontal displacements along the length of the country are taken into account in the presentation of three exploration options designed to look thoroughly at pre‐Jurassic pros