MIND TECHNOLOGY, INC — Director's Dealing 2006

Apr 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2006-03-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-31	Common Stock	A	7500	—	Acquired	325500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-31	Stock Option (right to buy)	$16.64	A	50000	Acquired	2016-03-31	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	59594	Indirect

Footnotes

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

F2: The option vests in three equal annual installments beginning March 31, 2007.