MIND TECHNOLOGY, INC — Director's Dealing 2007

Jun 26, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MITCHAM INDUSTRIES INC (MIND)
CIK: 0000926423
Period of Report: 2007-06-22

Reporting Person: SCHWALBE JOHN F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-22	MII Common Stock	P	30000	$1.90	Acquired	36000	Direct
2007-06-22	MII Common Stock	P	16000	$4.75	Acquired	52000	Direct
2007-06-22	MII Common Stock	S	5769	$18.88	Disposed	46231	Direct
2007-06-22	MII Common Stock	S	3657	$18.95	Disposed	42574	Direct
2007-06-22	MII Common Stock	S	100	$19.29	Disposed	42474	Direct
2007-06-22	MII Common Stock	S	200	$19.41	Disposed	42274	Direct
2007-06-22	MII Common Stock	S	900	$18.89	Disposed	41374	Direct
2007-06-22	MII Common Stock	S	3460	$18.96	Disposed	37914	Direct
2007-06-22	MII Common Stock	S	1822	$19.30	Disposed	36092	Direct
2007-06-22	MII Common Stock	S	600	$19.42	Disposed	35492	Direct
2007-06-22	MII Common Stock	S	1000	$18.90	Disposed	34492	Direct
2007-06-22	MII Common Stock	S	2194	$18.97	Disposed	32298	Direct
2007-06-22	MII Common Stock	S	1044	$19.31	Disposed	31254	Direct
2007-06-22	MII Common Stock	S	1720	$19.43	Disposed	29534	Direct
2007-06-22	MII Common Stock	S	1715	$18.91	Disposed	27819	Direct
2007-06-22	MII Common Stock	S	2407	$18.98	Disposed	25412	Direct
2007-06-22	MII Common Stock	S	5412	$19.32	Disposed	20000	Direct
2007-06-22	MII Common Stock	S	2400	$19.49	Disposed	17600	Direct
2007-06-22	MII Common Stock	S	300	$18.92	Disposed	17300	Direct
2007-06-22	MII Common Stock	S	2452	$18.99	Disposed	14848	Direct
2007-06-22	MII Common Stock	S	3700	$19.33	Disposed	11148	Direct
2007-06-22	MII Common Stock	S	100	$19.50	Disposed	11048	Direct
2007-06-22	MII Common Stock	S	1000	$18.93	Disposed	10048	Direct
2007-06-22	MII Common Stock	S	2769	$19.00	Disposed	7279	Direct
2007-06-22	MII Common Stock	S	32	$19.34	Disposed	7247	Direct
2007-06-22	MII Common Stock	S	14	$19.53	Disposed	7233	Direct
2007-06-22	MII Common Stock	S	4313	$18.94	Disposed	2920	Direct
2007-06-22	MII Common Stock	S	621	$19.01	Disposed	2299	Direct
2007-06-22	MII Common Stock	S	2299	$19.38	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-22	Common Stock Option	$1.90	M	30000	Disposed	2013-07-18	Common Stock (30000)	Direct
2007-06-22	Common Stock Option	$4.75	M	16000	Disposed	2014-09-02	Common Stock (16000)	Direct