Abstract: A method for determining rock and fluid properties of a fluid-containing subsurface geological formation is provided. First, a low resolution model of the geological formation is initially created from a lumped average parameter estimation derived from at least fluid pressure transient data obtained along a linear wellbore that traverses the formation. Next, the model parameters are updated using grid-based parameter estimation in which the low resolution pressure transient data are combined with data from at least one of seismic data, formation logs, and basic geological structural information surrounding the linear wellbore. Depending on the data available, this process may be carried out in a sequential manner by obtaining and combining additional dynamic data at selected areas. Through this process, multiple realizations of the properties of the geological formation (within the geological structural model) may be created based from the pressure-data conditioned geostatistics i.e.