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HOUSTON, May 11 /PRNewswire-FirstCall/ — Input/Output, Inc. (NYSE: IO)
announced today that Seismic Equipment Solutions LP (SES), a privately-held
Houston company that offers seismic equipment for lease and rental, will
purchase the VectorSeis(R) enabled FireFly(TM) land imaging system that will
be utilized by Apache and BP as part of their previously-announced, seismic
field trial programs involving I/O.

Jim Hollis, I/O VP of New Ventures – FireFly, commented, “While both
Apache and BP are very excited about their upcoming field trials with FireFly,
neither company is accustomed to owning seismic equipment outright. As a
result, all parties agreed that we needed an external partner that would own
the ten thousand station FireFly system and provide it to the acquisition
contractors selected by Apache or BP when needed. Given I/O’s long-standing
relationship with SES, we believe that they are well-suited to own the FireFly
system and provide the technology under a long-term rental arrangement to both
Apache and BP.”

Glen Huscroft, President of SES, stated, “We are delighted to have been
chosen by Apache, BP, and I/O as part of this ground-breaking collaboration
for land seismic imaging technology. Since we already own and rent VectorSeis
sensors and are an ‘Approved Support Partner’ of Input/Output, we are very
familiar with I/O equipment. We share a common vision with I/O and these
leading oil & gas companies about a coming revolution in land geophysics.
Since FireFly will enable high station count, full-wave recording, we expect
to see the demand for VectorSeis sensors increase rapidly within the market.
Given that our core business is in seismic equipment leasing and rental, we at
SES are uniquely suited to own both VectorSeis sensors and the corresponding
FireFly field units and to serve as the provider of both baseline and
expansion capacity as growth in the full-wave imaging market accelerates.”

The first FireFly field trial is scheduled to begin in October 2006 at
BP’s Wamsutter gas field in Wyoming. Under the terms of various agreements
among the parties, SES will be making a down payment to I/O on the ten
thousand station FireFly system within the next 60 days and is expected to
accept delivery of the completed system during the fourth quarter of 2006.
SES will then provide the complete FireFly system to both Apache and BP for no
less than 360 days (per company) through the first quarter of 2010.

Mr. Huscroft closed by adding, “While our focus is on ensuring that we
exceed the expectations of both Apache and BP, the exciting thing about our
commercial arrangements is that there are several extended windows through
early 2010 in which neither Apache nor BP have committed to acquisition using
the system. Under our agreements, SES will be free to rent the system to
other oil & gas companies and contractors in these periods. As a result, we
expect that not only will Apache, BP, and their working interest owners be
exposed to this revolutionary technology, but so too will other E&P firms and
acquisition contractors that secure FireFly and VectorSeis from SES as a core
part of their future land imaging programs.”

Announced at the Society of Exploration Geophysicists (SEG) annual meeting
in November 2005, FireFly is the latest full-wave seismic recording platform
in the I/O portfolio. FireFly combines proven wireless communication, data
storage, and power technologies from other industries in a seismic recording
system that operates without cables. With its cableless architecture, FireFly
delivers dramatic improvements in system weight, operational productivity, and
health, safety, and environmental (HSE) performance. Moreover, it supports
high station count recording to improve spatial sampling and seismic image
quality.

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.

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
http://www.i-o.com .

About SES

Seismic Equipment Solutions LP (SES) provides products and services on a
global basis in the field of oil and gas exploration, including the rental,
lease, lease/purchase, sale, and technical support of new, used, and re-
certified instrumentation used in land seismic acquisition. Headquartered in
Stafford, Texas (just outside of Houston), SES is an “Approved Support
Partner” of Input/Output, Inc. Additional information is available at
http://www.globalses.com .

Contacts: I/O – Houston, Texas
Kelly Smith, Director – Corporate Marketing Communications
1 281 879 3593 or ksmith@i-o.com

SES – Houston, Texas
Glen Huscroft, President
1 281 313 9494 or glenh@globalses.com

FireFly(TM) is a trademark of Input/Output, Inc.

SOURCE Input/Output, Inc.