MIND TECHNOLOGY, INC — Director's Dealing 2006

Sep 22, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2006-09-20

Reporting Person: MITCHAM BILLY F JR (Director, CEO & President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-20	Stock Option(right to Buy)	$10.12	A	3000	Acquired	2016-09-20	Common Stock (3000)	Indirect

Footnotes

F1: Options vest 1/3 each year for 3 years beginning on 9/16/2007 and being fully vested on 9/16/2009.

F2: The stock options are held by Mr. Mitcham's spouse.