The article dwells upon the alternative algorithm of ranging the project prospecting wells which according to their models should simultaneously penetrate the traps of structural, lithological and mixed origins (within the Northern Edge of Dnieper-Donets Rift). It should be mentioned that such approach can be applied only when seismic data were undergone qualitative and quantitative interpretation and when substantial static well materials have become available (petrophysical parameters and test data). The ranging algorithm is based on the influence of the following factors: structural factor, availability of anomalies within the seismic-wave field and the reserves factor. Each of these parameters has been analyzed from the point of view of importance of its influence on the well ranging. Naturally, the structural factor is the most important one, while lithological objects identified with the help of the results of AVO research and stochastic inversion, are the subordinate factors. In order to define the importance of each separate object, the reserves factor has been introduced. For instance, if the horizon is positive in terms of having the structural factor, and has got the lithological response, but it has been identified within the low production horizon and small resources zone, it will not make any serious impact on productivity of the multihorizontal well. It has been emphasized that materials set out in the Article require manual tuning and analytical research to be performed through the prism of knowledge on the object`s geological features, geophysical field parameters and other geological and producing features in each separate region. In addition, hydrodynamic model of the field, on which, or close to which the prospecting wells will be located, should be taken into consideration. The Article contains a sequential algorithm entailing many computations demonstrating the stages of this process. The proposed general approach can be used as an alternative method for successful solving of tasks on ranging the project prospecting wells in other oil and gas producing regions of Ukraine for the purpose of choosing the drilling objects within the block which have not been prospected yet, but located close to the developed and known fields. Key words: project wells ranging, structural factor, factor of anomaly presence, reserves factor