The total porosity of said formation, a fractional volume of the shale, and a resistivity of the shale are determined in a laminated reservoir including sands that may have dispersed shales therein. A tensor petrophysical model determines the laminar shale volume and laminar sand conductivity from vertical and horizontal conductivities derived from multi-component induction log data. The volume of dispersed shale and the total and effective porosities of the laminar sand fraction are determined using a Thomas-Stieber-Juhasz approach. Removal of laminar shale conductivity and porosity effects reduces the laminated shaly sand problem to a single dispersed shaly sand model to which the Waxman-Smits equation can be applied.