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Offshore Basin-scale Seismic Program Provides New Understanding of the Region

HOUSTON, July 9 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) today announced that it has completed the data processing and
interpretation for ArgentineSPAN(TM), a basin-scale seismic program offshore
Argentina. ArgentineSPAN contains approximately 11,800 km of new, regional
data off the Argentine Southern Atlantic margin from the international
boundary between Argentina and Uruguay to the most southerly tip of the
Argentine mainland offshore Tierra del Fuego.

The program provides high-resolution images of prospective targets in all
of the basins offshore Argentina and offers a new understanding of the
petroleum systems and prospectivity of the offshore oil and gas potential for
Argentina, one of the most under-explored petroleum regimes in the world.
With this recent addition to ION’s BasinSPAN library, ION continues to expand
its global library of strategic information for the exploration industry.

The program was sanctioned following an agreement signed at the end of
2007 between ENARSA (Energia Nacional de Argentina SA) and ION’s subsidiary,
GX Technology (GXT). Exequiel Espinosa, President of ENARSA, said,
“ArgentineSPAN is a key component to increasing investment in the offshore
industry in Argentina, and we are pleased that this data will be available to
Latin American and international companies who are looking to invest in
Argentina over the long term.”

Ken Williamson, Senior Vice President of ION’s Integrated Seismic
Solutions group, commented, “We are very happy to continue to work in
partnership with ENARSA. ArgentineSPAN is providing new insights that are
prompting both public and private organizations to rethink the potential of
Argentina’s resource base. We continue to develop further exploration
opportunities in Latin America by providing a strategic framework for
international and domestic oil and gas exploration companies and by working
very closely with governments and state controlled agencies within the whole
region.”

ArgentineSPAN complements the existing and growing portfolio of SPAN
programs in the Southern Atlantic, which to date cover approximately 80,000 km
of basin-scale, high-resolution data imaged by GXT with the most advanced data
processing technologies.

To learn more about ArgentineSPAN, visit: www.iongeo.com/argentinespan.

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.

About ENARSA

ENERGIA ARGENTINA SOCIEDAD ANONIMA was created on December 29, 2004, by
National Law No 25.943 and promulgated by Presidential Decree 1529/2004.

The goals of the company are the exploration, extraction and production of
hydrocarbons in solid, liquid and gaseous forms, the industrialization,
transport, storage, distribution, and trade of these products and its
derivates, as well as Natural Gas transportation and distribution services, to
which purpose ENARSA may produce, process, refine, buy, sell, exchange, import
or export and conduct any other operation complementary to its industrial and
commercial activities or any that may be necessary to achieve its goals.

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
.

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

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

SOURCE ION Geophysical Corporation

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