Attention business/financial editors and reporters:

Aeroquest International Limited (TSX VENTURE:AQL) announced today that it has
entered into a significant contract as a part of its recently established
Petroleum Services initiative.


Aeroquest Limited, a subsidiary of Aeroquest International, has entered into a
contract with GX Technology Corporation (a subsidiary of ION Geophysical
Corporation) to provide a fixed wing magnetic survey in excess of 100,000 line
kilometers in length in the Banks Island and Beaufort Sea area of the Canadian
Arctic. The airborne data collected by Aeroquest will assist ION's seismic
programs aimed at delineating portions of the Beaufort-Mackenzie Basin, Banks
Basin, Sverdrup Basin and the Arctic Costal Margin in pursuit of hydrocarbon
exploration.


"This contract is not only a significant one for Aeroquest", said Roy Graydon,
President and CEO of Aeroquest International, "but it also validates our efforts
to build a global organization capable of providing services to the world`s most
significant exploration industry participants, and confirms our belief in the
opportunities available to our company in the petroleum services sector. We are
thrilled to have the opportunity to partner with a petroleum services company of
the caliber of ION."


This contract will commence in late spring, 2008 and is expected to be complete
by the fall of 2008.


About Aeroquest International

Aeroquest International is a global information and technology services company
and a leader in the development and operation of innovative and proprietary
geophysical surveying platforms for the mineral and petroleum exploration, and
environmental services industries. Directly, and through its sister companies
UTS Geophysics and Geophex, Aeroquest fields a fleet of helicopter and fixed
wing survey systems and is active around the world. More information about
Aeroquest can be found at www.aeroquest.ca. More information on UTS Geophysics
can be found at www.uts.com.au. More information on Geophex can be found at
www.geophex.com.


About ION Geophysical Corporation

ION is a leading provider of geophysical technology, services, and solutions for
the global oil & gas industry. ION's offerings allow E&P operators to obtain
higher resolution images of the subsurface to reduce the risk of exploration and
reservoir development, and enable seismic contractors to acquire geophysical
data more efficiently. Additional information about ION is available at
http://www.iongeo.com.


For Investors

This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. The Company cautions that actual performance will be affected by
a number of factors, many of which are beyond its control. Future events and
results may vary substantially from what the Company currently foresees.
Discussion of the various factors that may affect future results is contained in
the Company's recent filings, available on SEDAR.
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