MIND TECHNOLOGY, INC — Director's Dealing 2004

Jan 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2004-01-08

Reporting Person: CHANEY R & PARTNERS IV LP (10% Owner)
Reporting Person: CHANEY R & PARTNERS III LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-08	Mitcham Industries, Inc. Common Stock	P	840	$3.60	Disposed	264160	Direct
2004-01-12	Mitcham Industries, Inc. Common Stock	P	6510	$3.603	Disposed	257650	Direct
2004-01-13	Mitcham Industries, Inc. Common Stock	P	1890	$3.61	Disposed	255760	Direct
2004-01-16	Mitcham Industries, Inc. Common Stock	P	4725	$3.60	Disposed	251035	Direct
2004-01-20	Mitcham Industries, Inc. Common Stock	P	8085	$3.6056	Disposed	242950	Direct
2004-01-21	Mitcham Industries, Inc. Common Stock	P	9975	$3.6035	Disposed	232975	Direct
2004-01-22	Mitcham Industries, Inc. Common Stock	P	6615	$3.6036	Disposed	226360	Direct
2004-01-23	Mitcham Industries, Inc. Common Stock	P	315	$3.67	Disposed	226045	Direct
2004-01-26	Mitcham Industries, Inc. Common Stock	P	3045	$3.6845	Disposed	223000	Direct
2004-01-27	Mitcham Industries, Inc. Common Stock	P	14595	$3.9687	Disposed	208405	Direct
2004-01-26	Mitcham Industries, Inc. Common Stock	P	11455	$3.6845	Disposed	851300	Direct
2004-01-27	Mitcham Industries, Inc. Common Stock	P	54905	$3.9687	Disposed	796395	Direct

Footnotes

F1: These securities are owned soley by R. Chaney & Partners III L.P., who is a member of a "group" with R. Chaney & Partners IV L.P. for purposes of Section 13(d) of the Exchange Act.

F2: These shares were omitted from three Forms 4 filed by R. Chaney & Partners IV L.P., and R. Chaney & Partners III L.P. was omitted as a group filer. R. Chaney & Partners III L.P. and R. Chaney & Partners IV L.P., as a "group" for purposes of Section 13(d) of the Exchange Act, are a 10% owner of the Issuer.

F3: These securities are owned soley by R. Chaney & Partners IV L.P.