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Basin-scale Seismic Data Library for Ireland, the Faroes and Shetland Islands,
                                  and Norway

HOUSTON, Jan. 24 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) announced today that its GX Technology (GXT) subsidiary has
completed acquisition on the first phase of the company’s latest, basin-scale
seismic imaging program — Northeast AtlanticSPAN(TM). The program covers
less-explored areas offshore Northwest Europe that are believed to have
significant hydrocarbon potential below thick basalts that diminish the
quality of seismic images acquired via traditional methods.

Ken Williamson, Senior Vice President of ION’s Integrated Seismic
Solutions group, commented, “The Northeast Atlantic margin is currently
covered by an extensive grid of existing legacy data. Unfortunately, these
data are of varying vintages and inconsistent with one another. A new
basin-scale program was needed to help oil and gas companies thoroughly
investigate the region’s hydrocarbon potential. The Northeast AtlanticSPAN
addresses many of these problems with a single, high-quality dataset.
Northeast AtlanticSPAN consists of the longest lines ever acquired in the
region and covers all of the areas believed to be most prospective. We look
forward to helping our customers extract the maximum value from Northeast
AtlanticSPAN and to extending our SPAN programs in other potential
hydrocarbon-producing areas around the globe.”

Phase I of Northeast AtlanticSPAN extends from the Porcupine Basin
offshore southern Ireland to offshore mid-Norway. GXT worked closely with
regional experts to design a survey that ties a large number of deep and
deepwater wells with optimized line orientation. The program will image the
full crustal structure and the ocean-continental crustal boundary, providing
geoscientists with new insights into the architecture of the continental
margin, including variations in continental crust thickness within prospective
basins. In addition, it is expected that Northeast AtlanticSPAN will increase
the effectiveness of existing seismic datasets by improving event
identification and cross-survey correlation. Phase 1 of Northeast
AtlanticSPAN contains over 7,200 km of high-quality, consistent seismic data,
covering three main regions along the continental margin: Ireland,
Faroes/Shetland Islands, and Norway.

Delivery of this dataset is aimed to coincide with the ongoing licensing
round in the Porcupine Basin and the upcoming licensing rounds in the Faroes
and United Kingdom.

About SPAN Programs

ION’s SPAN(TM) programs are regional, basin-wide, ultra-deep seismic data
surveys that are acquired and imaged using the most advanced geological and
geophysical acquisition and processing technology available. BasinSPAN
programs are custom designed to provide a holistic understanding of petroleum
systems including source rock deposition, hydrocarbon migration paths,
sediment fairways, and reservoir trapping mechanisms. BasinSPAN programs
exist for the Gulf of Mexico, the margins of West and East Africa, and for
offshore basins in Colombia, the eastern Caribbean, India, Eastern and
Northern Canada, and Alaska. Additional BasinSPAN acquisition is underway in
the eastern Java Sea, offshore Argentina, and Brazil. More BasinSPAN programs
are planned for key petroleum provinces around the world.

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 http://www.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.

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

ION (Media relations)
Director – Corporate Marketing
Kelly Kline, +1 281.468.5224
kkline@iongeo.com

SOURCE ION Geophysical Corporation

CONTACT: Investor relations, Brian Hanson, Chief Financial Officer,
1-281-879-3672, Media relations, Kelly Kline, Director – Corporate Marketing,
1-281-468-5224, kkline@iongeo.com, both of ION
Web site: http://www.iongeo.com
(IO)