Reservoir discrimination and characterization for proper lithology and fluid-content distribution is a must for proper reservoir management. Seismic inversion methods using variation of amplitude with offset (AVO) are regularly used in differentiating lithology along with its fluid content. Acoustic impedance (AI), shear impedance (SI), and density (ρ) are the fundamental rock properties often derived using AVO equations. The AI and SI estimates are more stable as compared to the density estimate that remains unstable because of its dependence on far-angle amplitude information. Various attributes, e.g., lambda-rho, mu-rho, elastic impedance, Poisson's ratio etc., derived from these inversion results are routinely used to discriminate lithology along with its fluid content. A new approach using Poisson dampening factor (PDF) attribute, derived using AI and SI values and making density estimate intrinsic within it, is applied and found to improve reservoir delineation and description.