The middle Eocene Kalol Formation in the north Cambay Basin of India is producing hydrocarbons in commercial quantity from a series of thin clastic reservoirs. These reservoirs are sandwiched between coal and shale layers, and are discrete in nature. The Kalol Formation has been divided into eleven units (K‐I to K‐XI) from top to bottom. Multipay sands of the K‐IX unit 2–8 m thick are the main hydrocarbon producers in the study area. Apart from their discrete nature, these sands exhibit lithological variation, which affects the porosity distribution. Low‐porosity zones are found devoid of hydrocarbons. In the available 3D seismic data, these sands are not resolved and generate a composite detectable seismic response, making reservoir characterization through seismic attributes impossible. After proper well‐to‐seismic tie, the major stratigraphic markers were tracked in the 3D seismic data volume for structural mapping and carrying out attribute analysis. The 3D seismic volume was inverted to obtain an acoustic impedance volume using a model‐based inversion algorithm, improving the vertical resolution and resolving the K‐IX pay sands. For better reservoir characterization, effective porosity distribution was estimated through different available techniques taking the K‐IX upper sand as an example. Various sample‐based seismic attributes, the impedance volume, and effective porosity logs were used as inputs for this purpose. These techniques are map‐based geostatistical methods using the acoustic impedance volume, stepwise multilinear regression, probabilistic neural networks (PNN) using multiattribute transforms, and a new technique that incorporates both geostatistics and multiattribute transforms (either linear or nonlinear). This paper is an attempt to compare different available techniques for porosity estimation. On comparison, it is found that the PNN‐based approach using ten sample‐based attributes showed highest crosscorrelation (0.9508) between actual and predicted effective porosity logs at eight wells in the study area. After validation, the predicted effective porosity maps for the K‐IX upper sand are generated using different techniques, and a comparison among them is made. The predicted effective porosity map obtained from PNN‐based model provides more meaningful information about the K‐IX upper sand reservoir. In order to give priority to the actual effective porosity values at wells, the predicted effective porosity map obtained from PNN‐based model for the K‐IX upper sand was combined with actual effective porosity values using co‐kriging geostatistical technique. This final map provides geologically more realistic predicted effective porosity distribution and helps in understanding the subsurface image. The implication of this work in exploration and development of hydrocarbons in the study area is discussed.