The successful exploration and production of shale-gas resources in the United States and Canada sets a new possible solution towards the energy crisis presently affecting most countries of Asia. This study focuses on the use of well log and 2D seismic data for the characterization of the shale oil/gas potential of a Paleocene–Eocene succession — the Meyal area in the Potwar Basin of Pakistan. Two shaly plays are identified in Paleocene–Eocene strata in well logs using ΔLogR and modified ΔLogR cross-plot techniques. The results indicate that Paleocene shale (the Patala Formation) and the lower shaly part of Eocene limestone (Sakesar Formation) can be potentially mature source rocks. However, the thermal maturity modelling proves that only the Paleocene shale is mature. Our results also suggest that the maturity responses on ΔLogR models for the lower shaly part of the Eocene limestone are due to trapped hydrocarbons in the intra-formational fractures. Petroelastic/petrophysical analysis of the Patala Formation reveals two potential shale oil/gas zones on the basis of Young’s modulus, Poisson’s ratio, Brittleness index and Total Organic Content at an exploitation depth of 3980–3988 m. This work can provide valuable insight for estimating shale oil/gas potential in highly deformed basins not only in Asia but in other parts of the world.