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    Complete Anisotropic Approach to Process Complex-Azimuth Seismic Datasets

    Multi-project Contract Awarded by Cobalt International Energy, L.P.

HOUSTON, June 8 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) today announced that its seismic imaging subsidiary, GX Technology
(GXT), has extended its toolkit for processing seismic data acquired in the
most challenging subsurface environments, including sub-salt. In connection
with these capability extensions, GXT has been awarded contracts by several of
the world’s most prominent E&P companies, including Cobalt International
Energy, L.P., to process wide-azimuth (WAZ) datasets that have recently been
acquired over a number of important discoveries and exploration prospects in
the Gulf of Mexico.

GXT will utilize its proprietary imaging technology to deliver high
resolution subsurface images to help in the highgrading process of exploration
portfolios, to optimize well placement during field development, and to refine
production strategies for discovered reservoirs. Two recent enhancements to
GXT’s technology toolkit were critical in these contract awards:

    --  The ability to handle marine seismic data acquired using
        complex-azimuth (CAZ) geometries, including wide-azimuth and rich
        azimuth datasets.
    --  The ability to incorporate anisotropy in full commercial production
        across all elements of the seismic workflow, including velocity model
        building using tomography and reverse time migration (RTM).

Nick Bernitsas, Senior Vice President of ION’s GXT Imaging Solutions
group, commented, “Wide-azimuth surveys are becoming increasingly commonplace
in challenging imaging environments like the Gulf of Mexico. These datasets
take the degree of processing complexity to new levels. With the enhancements
we have made to our imaging toolkit, we can now deliver a more accurate
representation of the sub-surface to our clients in a timely and efficient
manner. As a result, we are well positioned to secure large, high-value
imaging projects from E&P clients seeking to extract maximum insights from the
WAZ and CAZ data they have acquired or licensed in recent years.”

To date, GXT has been awarded WAZ and CAZ data processing contracts
covering more than 10,000 km2 of acreage (equivalent to ~500 Gulf of Mexico
lease blocks) worldwide. The most recent contract awarded to GXT comes from
Cobalt, a company formed in 2005 focused on exploring for sub-salt and
pre-salt prospects using the latest technologies in the deepwater Gulf of
Mexico and offshore West Africa. GXT’s contract with Cobalt covers a minimum
of four imaging projects in the Gulf of Mexico, with results to be delivered
over the next 8-12 months.

To learn more about wide- and complex-azimuth surveys and to view a
presentation on the subject, visit: www.iongeo.com/waz.

About ION

ION is a leading provider of geophysical technology, services, and
solutions for the global oil & gas industry. ION’s offerings allow E&P
operators to obtain higher resolution images of the subsurface to reduce the
risk of exploration and reservoir development, and enable seismic contractors
to acquire geophysical data more efficiently. Additional information about
ION is available at www.iongeo.com.

Contacts
ION (Financial community)
Chief Financial Officer
Brian Hanson, +1 281.879.3672

ION (Media affairs)
Director – Corporate Marketing
Karen Abercrombie, +1 713.366.7281
karen.abercrombie@iongeo.com

The information included herein contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Actual results may vary fundamentally
from those described in these forward-looking statements. All forward-looking
statements reflect numerous assumptions and involve a number of risks and
uncertainties. These risks and uncertainties include risk factors that are
disclosed by ION from time to time in its filings with the Securities and
Exchange Commission.

SOURCE ION Geophysical Corporation

Web Site: http://www.iongeo.com
(IO)