Apparatus, computer readable medium, and program code for identifying rock properties in real-time during drilling, are provided. An example of an embodiment of such an apparatus includes a downhole sensor subassembly connected between a drill bit and a drill string, acoustic sensors operably coupled to a downhole data interface, and a surface computer operably coupled to the downhole data interface. The computer can include a petrophysical properties analyzing program configured or otherwise adapted to perform various operations including receiving raw acoustic sensor data generated real-time as a result of rotational contact of the drill bit with rock during drilling, transforming the raw acoustic sensor data into the frequency domain, filtering the transformed data, deriving a plurality of acoustic characteristics from the filtered data and deriving petrophysical properties from the filtered data utilizing a petrophysical properties evaluation algorithm employable to predict one or more petrophysical properties of rock undergoing drilling.