In [7], the process of filling the well borehole with reservoir fluid upon well shutdown has been studied. The fluidinflow to the well and the dynamics of the fluid column growth in the rig during seepage in gas cut and light oil reservoir, with theactual properties of the fluids and the reservoir taken into consideration, have been discussed. The temporary characteristics ofthe process of recovering the static level of fluid in the well have been studied. Achieving the static level of fluid, i.e., completerecovery of the static fluid column in the well has been established to take a very long time, with 97–99% of its magnitudereached within a few minutes or hours.This research continues the one started in [7]. It proposes an algorithm for determining the main characteristics for theoil reservoir development in well–reservoir system and the parameters of sucker rod pump. In this case, the real thermodynamicproperties of volatile oil and the reservoir compressibility have been taken into account.