FORM 5
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported 		UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Ironman Energy Master Fund

2. Issuer Name and Ticker or Trading Symbol

GEOKINETICS INC [GOK]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)

(Last)          (First)          (Middle)

1500 CITYWEST BLVD., SUITE 800

3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
10/15/2010 
(Street)

HOUSTON, TX 77042

(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form Filed by One Reporting Person
_ X _ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock, $0.01 par value   10/15/2010     S   40722   D $7.46   1768530   (1) I   See Footnote   (2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  The filing of this Form 5 shall not be construed as an admission that Ironman Capital, L.P. ("Ironman Capital"), Ironman Capital (QP), L.P. ("Ironman Capital QP"), Ironman Energy Partners, L.P. ("Ironman Energy"), Ironman Energy Partners II, L.P. ("Ironman Energy II"), Ironman Capital Management, LLC ("Ironman Management") or G. Bryan Dutt (collectively with Ironman Capital, Ironman Capital QP, Ironman Energy, Ironman Energy II and Ironman Management, the "Control Persons"), is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the shares of Common Stock, $0.01 par value (the "Common Stock"), of Geokinetics Inc. (the "Issuer") purchased by Ironman Energy Master Fund (the "Master Fund"). Pursuant to Rule 16a-1, each of the Control Persons disclaims such beneficial ownership.
( 2)  The Master Fund holds directly 1,768,530 shares of Common Stock. Ironman Capital and Ironman Capital QP serve as the general partners of the Master Fund. Ironman Energy is the general partner of Ironman Capital and Ironman Capital QP. Ironman Energy II is the investment manager of the Master Fund. Ironman Management is the general partner of Ironman Energy and Ironman Energy II. Each of the Control Persons may be deemed to have indirect beneficial ownership of the 1,768,530 shares of Common Stock of the Issuer held directly by the Master Fund. Ironman Energy receives a portion of the profits in the form of a capital allocation from, and owns a partnership interest in, Ironman Capital and Ironman Capital QP, and Ironman Management, as the general partner of Ironman Energy, has an indirect interest in such allocation. Mr. Dutt owns an interest in Ironman Energy and Ironman Energy II and receives a portion of the profits allocation related to Ironman Capital and Ironman Capital QP.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Ironman Energy Master Fund
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

IRONMAN ENERGY CAPITAL, L.P.
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

Ironman Energy Capital (QP), L.P.
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

Ironman Energy Partners, LP
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

Ironman Energy Partners II LP
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

Ironman Capital Management LLC
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X

DUTT G BRYAN
1500 CITYWEST BLVD., SUITE 800
HOUSTON, TX 77042
X


Signatures
Ironman Energy Master Fund By /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

Ironman Energy Capital, L.P. By: /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

Ironman Energy Capital (QP), L.P. By: /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

Ironman Energy Partners, L.P. By: /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

Ironman Energy Partners II, L.P. By: /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

Ironman Capital Management, LLC By: /s/ G. Bryan Dutt, Authorized Signatory 2/14/2011
** Signature of Reporting Person Date

/s/ G. Bryan Dutt 2/14/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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