Recent reservoir studies have shown great strides in capturing complex multi-tank reservoir systems using Material balance (MBAL®) model especially when these tanks are hydraulically connected. The preference of a simple and quick material balance method over numerical simulation is justified when time and budget constraints may hamper full field simulation modelling. The subject reservoir for this study is a mature hydraulically connected tank under waterflood. This paper compares reserves estimation using predictive material balance and dynamic simulation after history matching both models.Results from this paper shows that for multi-tank modeling using of hydraulically connected reservoirs using MBAL, transmissibility modeling & aquifer modelling are key factors in achieving reasonably reliable MBAL models. A good understanding of the reservoir fault frame work and connectivity, adequate & reliable BHP, injection and production data are very important for attaining a good history match & model calibration. Results of this study show a good comparison between the Reserves estimate from both MBAL and that from dynamic simulation. Under the appropriate conditions, Predictive Material Balance is a quick alternative tool to reservoir simulation in reservoir performance prediction especially when time & resources are limited. Also, predictive material balance analysis should be applied in reservoir where the existing wells have adequate data to build reliable inflow & out flow models.