In this study, the structure, depositional system, and the seismic stratigraphy of the VLE 196 area, Block V in Lamar Field were interpreted using 3-D seismic data and well logs to characterize structural and depositional settings of the Guasare-Misoa interval. To demonstrate structural settings of the study area 3-D seismic data were interpreted. Three main seismic reflectors, which are the Late Eocene unconformity, Guasare, and La Luna formations, were picked. The most dominant structure in the area is the VLE 400 Fault which was interpreted as a left-lateral strike-slip reverse fault due to its behaviors as a reverse fault in cross sections and as a strike-slip fault in strike sections. The VLE 400 Fault subdivides the VLE 196 area into two main structural blocks, a downthrown block in the western part and the upthrown block in the eastern part of the field where the hydrocarbons were trapped. Several en echelon normal and reverse faults were located along the both sides of the area. The main importance of these faults are that they fractured the La Luna source rock and created migration pathways through the reservoir layers of the Misoa Formation. To interpret depositional system of the Guasare-Misoa interval, tops of the C4 and C5 intervals and associated C4 layers were picked based on well logs and lithofacies maps were prepared. The results of this part of the study show that the sandstones of the Misoa Formation are delta front and fluvial/distributary channel facies of delta system. The net sand thickness map of the C4 interval also exhibits southeast northwest contour patterns reflecting depositional axes in the area. Shaly units of the C4 interval interpreted as potential seals and are of variable thickness and extend. Seismic stratigraphic interpretation of the area shows that the four main seismic facies are dominant which mainly represent the recent sediments, "C" sands of the Misoa Formation, underlying Colon and Mito Juan shales, and basement respectively. Some distributary eroded channel fill structures were also observed within the Misoa Formation, but they were not continuous through the area because of the intensive faulting.