Share this page with someone.

Facebook Twitter LinkedIn Print Email

HOUSTON and BEIJING, July 6 /PRNewswire-FirstCall/ — GX Technology
Corporation (GXT), a leading seismic imaging services provider and a
subsidiary of Input/Output, Inc. (NYSE: IO), announced today that it has been
awarded the largest full-wave imaging project in the company’s history. GXT
was selected by Southwest Branch Company, an operating subsidiary of the
Chinese energy and petrochemical firm Sinopec (NYSE: SNP), for a comprehensive
interpretive imaging program at the largest gas field in western Sichuan
Province, China. GXT was awarded the contract to identify high-potential,
drillable prospects based on seismic data that was previously acquired using
I/O’s VectorSeis(R) digital full-wave sensors.

Bob Peebler, President and CEO of I/O, commented on the contract award,
“This is an excellent example of our full-wave solution strategy coming to
life. We were involved in this project from the beginning, helping to design
the survey and to select the technologies that would be needed to properly
image the numerous fractured gas reservoirs in the area. The data was
acquired using I/O’s System Four(TM) outfitted with VectorSeis. At times
during the survey, the contractor had nearly 20,000 live seismic channels in
operation. This provided the sampling density needed to properly illuminate
the reservoir. There is tremendous excitement throughout our company about
what insights we will be able to provide to our client using this high
density, full-wave data set.”

GXT was awarded the processing contract in a competitive tender against
other seismic imaging companies. A full suite of processing steps will be
applied to resolve subtle properties within the reservoir zones, including
mapping fracture density which is believed to correlate with well
productivity. In addition to applying its advanced noise attenuation
algorithms to extract broadband, high-resolution P-wave data, GXT will image
the converted (shear) waves, map sub-surface anisotropy using AZIM(TM), and
analyze shear wave splitting in the reservoirs to determine fracture
orientation and intensity.

Xu Xiangrong, President of Southwest Branch Company at Sinopec, added, “We
are convinced of the benefits of full-wave imaging in this area. Several
years ago, we conducted a pilot test which showed multicomponent seismic data
would be useful in characterizing fractured gas reservoirs in Sichuan. This
gave us the confidence to undertake a full-scale acquisition program. The raw
data looks promising. GX Technology demonstrated that they had the necessary
capabilities to deliver against the imaging objectives we had set. In order
to meet its increasing energy needs, China is committed to deploying state-of-
the-art technology. The I/O family of companies has the type of cutting-edge
toolkit, the experienced personnel, and the collaborative approach we require.
I look forward to our ongoing cooperation on this imaging program and on other
opportunities that may emerge in the future.”

As part of this project, GXT has also been requested to undertake advanced
geophysical and reservoir analyses that build upon the acquired seismic data,
such as determining reservoir porosity and permeability, evaluating gas
saturation, and mapping sedimentary facies and sequence stratigraphy. The
integrated seismic data sets will ultimately be used to select new well
locations and to identify other exploitable targets throughout the basin.
Initial imaging work will begin immediately, with final results of this
processing and reservoir characterization project expected to be delivered in
the first half of 2007.

About GX Technology

GX Technology (GXT), a subsidiary of I/O, is a leading provider of Image-
Driven(TM) seismic solutions. Oil & gas companies engage GXT to produce high
fidelity sub-surface images that reduce the risk and cost of finding and
developing hydrocarbons both onshore and offshore. GXT solutions include
start-to-finish seismic imaging programs, seismic data conditioning, time
processing, PreSTM and PreSDM, full-wave imaging, and geophysical and
reservoir analysis services. GXT also provides software and services for
seismic acquisition planning, survey design, and modeling. GXT is a Houston-
based company that operates regional imaging centers in Denver, London,
Calgary, Aberdeen, Caracas, Port-of-Spain, Luanda, and Port Harcourt.

About I/O

I/O is a leading, technology-focused seismic solutions provider. The
company provides cutting-edge seismic acquisition equipment, software, and
planning and seismic processing services to the global oil and gas industry.
I/O’s technologies are applied in both land and marine environments, in
traditional 2D and 3D surveys, and in rapidly growing areas like time-lapse
(4D) reservoir monitoring and full-wave imaging. Headquartered in Houston,
Texas, I/O has regional offices in Canada, Latin America, Europe, China,
Russia, Africa and the Middle East. Additional information is available at .

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 I/O from time to time in its filings with the Securities and
Exchange Commission.

Kelly Kline,
Director – Corporate Marketing Communications
281-879-3593 or

SOURCE Input/Output, Inc.