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Joint Center to Provide Advanced Seismic Data Processing Services for North

HOUSTON and CAIRO, Egypt, Oct. 27 /PRNewswire-FirstCall/ — ION
Geophysical Corporation (NYSE: IO) and Guide Geoscience Technologies (GGT), a
Cairo-based seismic data processing company, announced the formation of an
alliance to provide advanced imaging and reservoir-related services to oil &
gas companies operating in North Africa. By blending the technological
strengths of ION’s GX Technology (GXT) Imaging Solutions group and the
regional expertise of Guide, the companies will deliver state-of-the-art
geoscience technology solutions that enhance the quality and utility of
seismic data, thereby allowing clients to optimize their exploration and
development drilling programs, advance their hydrocarbon production, and find
additional reserves in mature fields.

Egypt boasts one of the oldest oil & gas industries in the world, yet
still offers many new opportunities for companies operating within the region.
Egypt is a significant oil producer including the mature fields in the Gulf of
Suez. More recently, major international oil companies have found new gas
discoveries in the Nile Delta and the Western Mediterranean. Across the
border in Libya, numerous international oil and gas companies have been
awarded large tracts of undeveloped but highly prospective acreage over the
last several years.

Given heightened exploration interest in North Africa, the Guide-ION
imaging center in Cairo is ideally suited to deliver a broad range of advanced
seismic processing services for 2D, 3D, land, marine, and transition zone
data. The full scope of services also includes data conditioning, velocity
model building, seismic imaging, and geophysical reservoir analysis and
interpretation. The center has been equipped with the latest Linux-based
server hardware and advanced data processing technology provided by ION. The
Cairo seismic processing facility is staffed by Guide geophysicists supported
by GX Technology experts in state-of-the-art data processing equipment,
algorithms and workflows.

“We believe that the collective processing experience of Guide and GXT,
including our advanced technologies and specialist personnel, will offer our
clients in the region the highest quality seismic images available,” stated
Nick Bernitsas, Senior Vice President of GXT Imaging Solutions. “This
partnership displays our commitment to expanding the global reach of our
processing capabilities so they are readily accessible to our clients in key
petroleum centers around the world.”

Guide’s Chief Executive Officer, Adel Nasser, commented, “We look forward
to leveraging this major business opportunity and bringing GXT’s experience
and expertise to North Africa. Since GGT was established in 2005, we have
rapidly expanded in the highly competitive Egyptian market. Developing
business strategies based on technical excellence and the understanding of
customer’s needs has allowed us to tackle the most complex imaging projects in
the region. The new Guide-ION venture will be a valuable asset for the
further expansion of GXT and Guide in Egypt and throughout the North Africa

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:

About Guide

Guide Geoscience Technologies specializes in seismic data processing and
integrated high-end geophysical technologies used in oil & gas exploration and
development. Guide offers unique geophysical expertise through the
integration of state-of-the-art analysis, solutions, and world-class expertise
to improve the integrity of seismic data, enhance hydrocarbon production, and
find additional reserves in mature fields. Additional information about Guide
Geoscience Technologies 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 ION from time to time in its filings with the Securities and
Exchange Commission.

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

ION (Media affairs)
Senior Manager – Corporate Marketing
Jenny Salinas, +1 713.366.7286

GX Technology (Guide)
Regional Manager – Africa
Reda El Sakka, +20 10 192 5000

SOURCE ION Geophysical Corporation

Web site: /