July 18, 2011
/PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced that it has successfully acquired 8,700 km of regional seismic data offshore
, adding to the 14,000 km of data the company previously acquired in the region in the first two phases of its East AfricaSPAN™ program.
Several recent large discoveries offshore
have created tremendous interest in the
margin for oil exploration. This third phase of ION's East AfricaSPAN program provides the basis for an improved understanding of the hydrocarbon potential in this highly prospective region.
, Senior Vice President of ION's Integrated Seismic Solutions group, commented, "Recent development activities in
, particularly in
, were initiated as a result of geologic insights provided by the first two phases of our East AfricaSPAN program. This additional dataset will provide important ties to the Southern petroleum provinces of
, and help shape ideas for exploration in the rest of the margin."
East AfricaSPAN III was acquired using long offsets and a specially designed source optimized for deep penetration and imaging. The data will be processed using ION's GX Technology group's latest proprietary processing and imaging technologies. Pre-stack time migration (PSTM) results will be available in
, with pre-stack depth migration (PSDM) results available
To learn more about ION's AfricaSPAN program, visit
ION Geophysical Corporation 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
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 (Investor relations)Chief Financial Officer
, +1 281.879.3672
ION (Media relations)Director - Corporate Marketing
, +1 713.366.7281
SOURCE ION Geophysical Corporation