MIND TECHNOLOGY, INC — Director's Dealing 2006

Aug 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2006-08-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-11	Common Stock	M	9000	$5.75	Acquired	334500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-11	Stock Options	$5.75	M	9000	Disposed	2006-08-14	Common Stock (9000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	59594	Indirect

Footnotes

F1: Mr. Mitcham holds these shares in two trusts for his sons.