The authors formulate a new strategy of oil and gas exploration works focused on Vendian and Cambrian carbonate deposits in central regions of Lena-Tungussky Petroleum Province. Similar to terrigenous formations of the region, these sequences are one of the key focus areas for all the stages of geological exploration for hydrocarbon raw materials. The paper for the first time presents an integrated characteristic of seven most promising horizons (Б12, Б11, Б10, Б5, Б3-4, и Б1). Stratigraphic position of these horizons, their composition, and depositional settings are discussed. Reservoir quality and impermeable bed properties are evaluated. The most significant justification for the high oil and gas potential of the carbonate formations of the subsalt Vendian-Cambrian carbonate subsalt sequence is the results of pilot testing of the Preobrazhensky Б10 Reservoir at an oil and gas condensate field carried out by Rosneft over the past five years. The company drilled wells with horizontal shafts and multi-stage hydraulic fracturing. Industrial oil inflows were received from all wells. The results of studies presented in the paper have changed principally the authors understanding of prospecting and appraisal strategy in the region under consideration. The fact that the studied sequences must be the main object in pre-paring HC raw material reserves together with the Vendian terrigenous deposits rather than only associated rocks, makes reliability of the previously identified objects higher.