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   Successful Commercial Deployment of Version 2.0 Cableless Seismic System

HOUSTON, Aug. 28 /PRNewswire-FirstCall/ — ION Geophysical Corporation
(NYSE: IO) announced today that it has successfully completed the acquisition
phase of a multi-client seismic imaging project using its FireFly(R) cableless
land acquisition system. The project was completed on time and under budget
in a remote, environmentally sensitive area of northwest Colorado by the
seismic contractor Geokinetics Inc., which ION selected to acquire the data
for the project.

Marty Williams, Geoscience Manager for East Resources Inc., a privately
held, independent E&P company and the primary underwriter of the survey,
commented, “This was a very challenging acquisition project in terms of the
timeline and topography, not to mention our need to minimize the operational
footprint in a sensitive area that includes wildlife, numerous ranches, and
access restrictions to public lands. In addition, we needed to acquire
densely sampled, full-wave data to better characterize a fractured shale
reservoir that East Resources plans to re-develop. I’ve seen some of the
early traces, and the seismic data look to be of the highest quality. We
couldn’t have completed this project without FireFly. Matching a
game-changing technology with an experienced contractor provided a unique
solution to the operational and imaging challenges we faced on this project.”

The survey, named ‘Durham Ranch’ after one of several ranches in the
vicinity, encompassed an area of roughly 30 square miles. More than 6,000
VectorSeis(R) enabled, FireFly stations were deployed on the survey;
ultimately, 10,500 receiver points of full-wave seismic data were acquired.
Nearly 7,000 dynamite shot points were used as the source, with the time from
‘first shot’ to last spanning 20 days. On the most productive day, 730 shot
points were acquired. Geokinetics, a leading geophysical services company
headquartered in Houston, served as the field acquisition contractor, while
Green River Energy Resources executed various permitting and shot-hole
drilling tasks.

Jim White, Executive Vice President of North American Operations at
Geokinetics, commented, “FireFly represents a new approach to land seismic
acquisition. After some initial training for our field personnel in how to
operate using the different technologies and workflows associated with
FireFly, our crews became very comfortable with the system and productivity
increased accordingly. This was among the more challenging seismic surveys
we’ve undertaken, and our ability to complete the project within the specified
timeline was enhanced by our use of a cableless system such as FireFly.”

ION is executing the Durham Ranch project under its Integrated Seismic
Solutions (ISS) business model. In an ISS project, ION acts as the overall
project manager, coordinating a full-scope of tasks ranging from survey
planning to overseeing field acquisition, as well as data processing and
reservoir analysis from the imaging experts within its GX Technology (GXT)
subsidiary. By using the ISS approach, ION is able to customize the
technologies and imaging and operational methods to the unique challenges and
objectives of a particular project, whether proprietary or multi-client.

Jim Hollis, Chief Operating Officer of ION Solutions, concluded by saying,
“We learned a lot from the initial FireFly field trials for BP and Apache in
late 2006 and early 2007. The insights we obtained were incorporated into
Version 2.0 of the FireFly system which, from all accounts, performed up to
our high expectations and those of our clients. I am delighted that East
Resources will have the data they require to optimize reservoir development,
and believe both they and other E&P companies that license the data will see
what the ION family of companies is able to deliver when called to execute
challenging imaging projects like this one. I also want to thank both Green
River Energy and especially Geokinetics for all of their efforts and helpful
feedback throughout the project. All of the seismic contractors we invited to
bid on the acquisition portion of the project, save one, told us that they
simply couldn’t get it done in the time allotted with conventional,
cable-based acquisition technology. Geokinetics stepped up to the challenge,
leveraged the FireFly system, and delivered.”

More information about the Durham Ranch project is available on a
Web-accessible slideshow 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.

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 Geokinetics Inc.

Geokinetics Inc., based in Houston, Texas, is a leading global provider of
seismic acquisition and high-end seismic data processing services to the oil
and gas industry. Geokinetics has strong operating presence in
North America and is focused on key markets internationally. Geokinetics
operates in some of the most challenging locations in the world from the
Arctic to mountainous jungles to the transition zone environments. More
information about Geokinetics is available at

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

SOURCE ION Geophysical Corporation

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