MIND TECHNOLOGY, INC — Director's Dealing 2005

Feb 23, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2005-02-18

Reporting Person: SCHWALBE JOHN F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-19	Common Stock	M	1000	$2.88	Acquired	1000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-18	Stock Option (Right to Buy)	$2.88	M	1000	Acquired	2005-03-16	Common Stock (1000)	Direct