OYO Geospace Announces $4.3 Million Contract for Wireless Seismic Data Acquisition System

HOUSTON--(Business Wire)--
OYO Geospace (NASDAQ: OYOG) today announces it received an order for $4.3
million of geophysical equipment, including 3,000 channels of the Geospace
Seismic Recorder (GSR), the company`s new wireless seismic data acquisition
system. Delivery of the GSR system and related equipment is expected to occur in
the company`s fourth fiscal quarter.

"We are pleased that a new seismic contractor has selected the GSR system as
their first seismic system purchase. We believe that the future of seismic
exploration will focus on wireless systems like the GSR to overcome the
expensive cable repairs and replacements and reduce the operational downtime
associated with today`s cabled systems. Oil and gas companies are now demanding
seismic surveys with higher channel counts, continuous recording capabilities
using multiple simultaneous sources, and lower overall costs. The GSR system
meets these requirements by allowing unlimited channel deployments, and yielding
higher operational efficiencies because of its reduced weight and lower
operating costs. All of these attributes give the GSR-owner a competitive edge,"
said Gary D. Owens, OYO Geospace`s Chairman, President and CEO.

OYO Geospace designs and manufactures instruments and equipment used by the oil
and gas industry in the acquisition and processing of seismic data as well as in
reservoir characterization and monitoring activities. The company also designs
and manufactures equipment and film for the thermal printing industry worldwide.

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements other than statements of historical fact
included herein including statements regarding potential future products and
markets, our potential future revenues, future financial position, business
strategy, future expectations and other plans and objectives for future
operations, are forward-looking statements. We believe our forward-looking
statements are reasonable. However, they are based on certain assumptions about
our industry and our business that may in the future prove to be inaccurate.
Important factors that could cause actual results to differ materially from our
expectations include the level of seismic exploration worldwide, which is
influenced primarily by prevailing prices for oil and gas, the extent to which
our new products are accepted in the market, the availability of competitive
products that may be more technologically advanced or otherwise preferable to
our products, the resolution of the situation in the Middle East and other
factors disclosed under the heading "Risk Factors" and elsewhere in our most
recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are
on file with the Securities and Exchange Commission. Further, all written and
verbal forward-looking statements attributable to us or persons acting on our
behalf are expressly qualified in their entirety by such factors.

OYO Geospace
Chairman, President & CEO
Gary D. Owens, 713-986-4444
Fax: 713-986-4445

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