MRI has considerable potential as a non-destructive probe of porous media, offering the possibility of rapid quantification of local oil and water content. This potential has not yet, however, been completely realized. In this paper, we explore a general magnetization preparation approach to the discrimination of water and oil in a model, representative, porous medium. These measurements have, as a common element, a centric scan pure phase encode readout based on the SPRITE methodology. Magnetization preparation permits facile T1, T2 and diffusion coefficient mapping as the basis for oil and water discrimination. Diffusion coefficient mapping proved to be the most robust approach to discrimination of oil and water. These methods are illustrated through static experiments and a dynamic immiscible fluid displacement experiment.