2013-03-11 13:00:57 -

HOUSTON, TEXAS - March 11, 2013 - Geokinetics Inc. (OTC: GEOK) announced today
that it and its domestic subsidiaries have filed voluntary petitions under
chapter 11 of title 11 of the United State Code in the United States Bankruptcy
Court for the District of Delaware to complete their previously announced
financial restructuring of the Company designed to restore the Company to long-
term financial health.  The Company intends to continue operating in the normal
course of business without interruption and the restructuring is not expected to
have an impact on the Company's operations.

The  pre-packaged plan of reorganization, which has been overwhelmingly approved
by  the Company's stakeholders but remains subject to Bankruptcy Court approval,
provides  for the payment in full of  the Company's secured credit facility,   for
the  conversion of the  $300 million (plus  accrued and unpaid  interest) of the
Company's   senior  secured  notes  into  newly  issued  common  equity  of  the
reorganized  Company representing  100% of the  reorganized Company's issued and
outstanding  common  stock  after  the  issuance  (subject  to  dilution  for  a
management  incentive  plan  and  distributions  with  respect to the debtor-in-
possession  financing described  below) and  for the  payment of allowed general
unsecured  claims in full either at the  conclusion of the chapter 11 case or in
the  ordinary course  of business.   The Company  expects to  receive Bankruptcy
Court approval of its pre-packaged plan within 45 days.

To  facilitate the  chapter 11 process,  the Company  and certain holders of the
Company's  senior secured notes have  agreed to an up  to $25 million debtor-in-
possession  term loan to fund, among other things, the Company's working capital
needs  while in chapter 11.  The  term loan will be  paid off in common stock of
the  reorganized  Company  at  a  discount  to  plan  value,  as provided in the
Company's  plan  of  reorganization.David  J.  Crowley,  the President and Chief
Executive  Officer of  the Company,  commented, "Today  we have taken a decisive
step to strengthen our balance sheet and emerge a stronger company that is well-
positioned  for growth on  the horizon in  all three product  lines and enhances
profitability, while maintaining our commitments to our customers, employees and
vendors."

The  Company has  filed a  series of  first day  motions to allow the Company to
continue  to operate in the ordinary  course of business during the confirmation
process.   The first day motions  ask the United States  Bankruptcy Court in the
District  of  Delaware  to  approve,  among  other things, the payment of wages,
salaries  and other  employee benefits  as well  as payments to certain critical
vendors and foreign vendors.

In  connection with  the debtor  in possession  financing discussed  above, each
holder  of the  Company's senior  secured notes  that is  an accredited investor
holding  at least $1,000,000 in aggregate principal amount of the senior secured
notes  may  elect  to  be  a  lender under the debtor-in-possession financing by
contacting  the agent  for the  debtor-in-possession financing  within 5 days of
entry  of  the  interim  order  approving the debtor-in-possession financing and
executing  the necessary documents as required by the agent, as set forth in and
subject to the interm order approving the debtor-in-possession financing that is
entered  by the Bankruptcy Court.  Such  eligible senior secured noteholders may
contact the agent by sending an email to Bobbie Young (byoung@cantor.com) and to
Nate   Plotkin   (nplotkin@cantor.com),   with   a   copy   to   Stephen  Castro
(Stephen.Castro@kayescholer.com) and Emil Buchman (Emil.Buchman@friedfrank.com).

About Geokinetics Inc.

Geokinetics Inc. is a leading provider of seismic data acquisition, seismic data
processing  services and multi-client  seismic data to  the oil and gas industry
worldwide.  Headquartered in Houston, Texas,  Geokinetics is the largest Western
contractor acquiring seismic data onshore and in transition zones in oil and gas
basins  around the world. Geokinetics has  the crews, experience and capacity to
provide  cost-effective world class data to its international and North American
clients. For more information on Geokinetics, visit www.geokinetics.com.

Forward-Looking Statements

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.  The Company has based these forward-looking statements on
its  current  expectations  and  projections  about  future  events  based  upon
knowledge  of facts  as of  the date  of this  press release and its assumptions
about  future events.  These forward-looking  statements are  subject to various
risks and uncertainties that may be outside the Company's control, including the
outcome  and timing  of various  approvals and  confirmations by  the Bankruptcy
Court.   The Company undertakes  no obligation to  update or revise any forward-
looking  statements, whether  as a  result of  new information, future events or
otherwise.

Contact:
David J. Crowley
Chief Executive Officer
Geokinetics
(713) 850-7600



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Source: Geokinetics Inc. via Thomson Reuters ONE
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