INOVA Announces Sale to One of the Largest Operating Crews in Southern Iraq

HOUSTON, Jan. 13, 2011 /PRNewswire/ -- INOVA Geophysical Equipment Limited today announced a 2010 fourth quarter sale of 13,000 channels of ARIES II, INOVA's cable based land recording system, to Dubai based Terraseis. The deal also includes the sale of 39,000 SM-24XL geophone strings from the Sensor subsidiary of ION Geophysical, for which INOVA is a channel partner. The system will be used by one of the largest operating crews in Southern Iraq. Deployment of the equipment commenced in Q4 of 2010 and the system is expected to be fully deployed in Q1 of 2011.

Kevin Plintz, founder and chairman of the board for Terraseis commented, "Most of our projects are typically undertaken in challenging geophysical environments. In these circumstances, it's critical that we ensure our crews are equipped to operate efficiently and we count on reliable equipment. We need to ensure that our suppliers are available with support from the moment our crews hit the ground, helping us deliver the ultimate success of a project.  We've used ARIES II for other projects and feel confident in the performance that it delivers.  We also are encouraged by the level of support and trusted service that INOVA provides with their equipment."

Steve Bate, President and Chief Executive Officer of INOVA, added, "This transaction continues to solidify our partnership with one of the largest global seismic service providers. The quality and reliability of our equipment helps our customers meet the demanding conditions of seismic acquisition today, and Terraseis believes in providing its customers with the best service and equipment available in the market. As we expand our footprint in these regions, we are committed to providing excellent products and services in our relationship with Terraseis, and this recent sale is just one more example."

Richard Forrest-Hill, Vice President of ION's Holland-based Sensor B.V. subsidiary, added, "We are proud to partner with Terraseis on such a significant project and also to have participated in this transaction with our colleagues at INOVA.  Our goal is to bring added value to our customers' operations by supplying them best in class equipment and support.  Our SM-24XL geophone has been designed and manufactured to deliver high quality data capture in any operating climate or environment and is indicative of our commitment to customer satisfaction.  We look forward to many more such collaborations enabling us to deliver high quality products and services to our customers."

INOVA's ARIES II land acquisition system is designed to maximize return on investment by reducing equipment related downtime and minimizing the impact of harsh environmental and operational conditions. It supports high channel count, advanced vibroseis acquisition for all 2D, 3D, or time-lapse 4D seismic programs. Learn more about ARIES II and INOVA's other land recording systems at www.inovageo.com

About INOVA Geophysical Equipment Limited

INOVA Geophysical Equipment Limited is a leading provider of land geophysical technology, including source and source control systems, cabled and cableless land acquisition systems, and advanced seismic sensing devices. Managed as an independent company, INOVA is a joint venture owned 51% by BGP (a wholly owned subsidiary of China National Petroleum Corporation) and 49% by ION Geophysical Corporation (NYSE: IO). Additional information about INOVA is available at www.inovageo.com.

About Terraseis

Terraseis is one of the fastest growing providers of geophysical data acquisition services to international exploration and production companies in the Middle East, Asia and Africa with most recent focus in Kurdish Region of Iraq and West Africa. Terraseis is a widely recognized leader in acquiring seismic data in particularly challenging geographic, economic and political environments and in working with clients requiring complex and demanding services agreements. Additional information about Terraseis is available at www.terraseis.com

SOURCE INOVA Geophysical Equipment Limited