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<SEC-DOCUMENT>0000950129-04-009684.txt : 20041213
<SEC-HEADER>0000950129-04-009684.hdr.sgml : 20041213
<ACCEPTANCE-DATETIME>20041210200027
ACCESSION NUMBER:		0000950129-04-009684
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041210
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20041213
DATE AS OF CHANGE:		20041210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MITCHAM INDUSTRIES INC
		CENTRAL INDEX KEY:			0000926423
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
		IRS NUMBER:				760210849
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25142
		FILM NUMBER:		041197582

	BUSINESS ADDRESS:	
		STREET 1:		8141 SH 75 SOUTH
		STREET 2:		PO BOX 1175
		CITY:			HUNTSVILLE
		STATE:			TX
		ZIP:			77342
		BUSINESS PHONE:		9362912277

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1175
		CITY:			HUNTSVILLE
		STATE:			TX
		ZIP:			77342
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h20890e8vk.htm
<DESCRIPTION>MITCHAM INDUSTRIES, INC. - DECEMBER 10, 2004
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">



<P align="center" style="font-size: 10pt"><B>CURRENT REPORT</B>



<P align="center" style="font-size: 10pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt"><B>December&nbsp;10, 2004 (December&nbsp;8, 2004)</B><BR>
Date of Report (Date of earliest event reported)



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<P align="center" style="font-size: 24pt"><B>Mitcham Industries, Inc.</B>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<DIV align="center">
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    <TD width="30%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>Texas</B><BR>
(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-25142</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>76-0210849</B><BR>
(IRS Employer<BR>
Identification No.)</TD>
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</DIV>



<P align="center" style="font-size: 10pt"><B>8141 SH 75 South, P.O. Box 1175, Huntsville, Texas 77342</B><BR>
(Address of principal executive offices) (Zip Code)



<P align="center" style="font-size: 10pt"><B>936-291-2277</B><BR>
(Registrant&#146;s telephone number, including area code)



<P align="center" style="font-size: 10pt">(Former name or former address, if changed since last report.)



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:



<P>

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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>


<P>

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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>


<P>

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    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>


<P>

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    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="h20890exv99w1.htm">Press release issued on December 8, 2004</A></TD></TR>
</TABLE>
</CENTER>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01 Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;8, 2004, Mitcham Industries, Inc. (&#147;Mitcham Industries&#148;) announced the hiring of
Michael A. Pugh as Executive Vice President &#151; Finance and Chief Financial Officer. Mr.&nbsp;Pugh will
receive an annual salary of $155,000 and will be entitled to receive a performance-based,
discretionary annual bonus, subject to the discretion of the Compensation Committee. Mr.&nbsp;Pugh will
also receive options to purchase 20,000 shares of Mitcham Industries common stock at an exercise
price of $5.75 (the closing price of the common stock on December&nbsp;8, 2004).

<!-- link2 "Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;8, 2004, Mitcham Industries appointed Michael A. Pugh, age 52, as Executive Vice
President &#151; Finance and Chief Financial Officer. The press release issued by Mitcham Industries
announcing the hiring of Mr.&nbsp;Pugh is attached hereto as Exhibit&nbsp;99.1.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to joining Mitcham Industries, Mr.&nbsp;Pugh served from March&nbsp;2004 to November&nbsp;2004 as Chief
Operating Officer and Chief Financial Officer of Corporate Alliance, a privately-held marketing
company. From May&nbsp;2002 to April&nbsp;2003, Mr.&nbsp;Pugh served as Chief Financial Officer of Rocky Mountain
Energy Corporation, a Houston-based developer of proven oil and gas reserves in the Rocky
Mountains. From March&nbsp;2001 to May&nbsp;2002, Mr.&nbsp;Pugh was Vice President and Chief Financial
Officer at Regent Energy Corporation, a company engaged in the acquisition and production of crude
oil and natural gas reserves, where he was responsible for accounting, budgeting, risk management
and all SEC regulatory reporting. From 1983 to 2000, Mr.&nbsp;Pugh held positions of increasing
responsibility domestically and internationally with Santa Fe Energy (now Devon Energy). Mr.&nbsp;Pugh
joined Santa Fe in 1983 as Senior Analyst, Accounting Manager, then served as Vice President of
Finance, Controller S.E. Asia Jakarta, Indonesia. Upon his return to the United States in 1996,
Mr.&nbsp;Pugh served as Corporate Assistant Treasurer for all international operations; from 1997
through 1999, he was Corporate Risk Manager and from 1999 through 2000, he served as Corporate
International Administration Manager. Mr.&nbsp;Pugh began his career with General Crude Oil in 1974 and
holds a B.B.A. &#150; Finance from Texas A&#038;M University.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of Mr.&nbsp;Pugh&#146;s offer letter set forth in Item&nbsp;1.01 of this Current Report on
Form 8-K is hereby incorporated by reference into this Item&nbsp;5.02.

<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>


<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits. The following exhibits are filed as a part of this report:</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">

<!-- Begin Table Head --><TR valign="bottom">
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    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B><HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release issued by Mitcham Industries, Inc. on December&nbsp;8, 2004.</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">-2-
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>MITCHAM INDUSTRIES, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  December 10, 2004&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Christopher C. Siffert
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Christopher C. Siffert&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President and Corporate Controller&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">

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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Description</B><HR size="1" noshade></TD>
</TR>


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<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release issued by Mitcham Industries, Inc. on December&nbsp;8, 2004.</TD>
</TR>


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<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<FILENAME>h20890exv99w1.htm
<DESCRIPTION>PRESS RELEASE ISSUED ON DECEMBER 8, 2004
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;99.1


<P align="center" style="font-size: 10pt"><B>PRESS RELEASE</B>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>

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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>FOR IMMEDIATE RELEASE</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>CONTACT:</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Christine Reel
713.629.1316</B></TD>
</TR>


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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>MITCHAM INDUSTRIES APPOINTS NEW CHIEF FINANCIAL OFFICER</B>


<P align="left" style="font-size: 10pt">HUNTSVILLE, Texas &#150; December&nbsp;8, 2004 &#150; Mitcham Industries, Inc. (NASDAQ: MIND) today announced the
appointment of Michael A. Pugh to the position of Executive Vice President &#151; Finance and Chief
Financial Officer (CFO).


<P align="left" style="font-size: 10pt">Prior to joining Mitcham Industries, Mr.&nbsp;Pugh served most recently as Chief Operating Officer and
Chief Financial Officer of Corporate Alliance, a privately-held marketing company. Before that, Mr.
Pugh was Vice President and CFO at Regent Energy where he was responsible for accounting,
budgeting, risk management and all SEC regulatory reporting. From 1983 to 2000, Mr.&nbsp;Pugh held
positions of increasing responsibility domestically and internationally with Santa Fe Energy (now
Devon Energy). Mr.&nbsp;Pugh joined Santa Fe in 1983 as Senior Analyst, Accounting Manager, then served
as Vice President of Finance, Controller S.E. Asia Jakarta, Indonesia. Upon his return to the
United States in 1996, Mr.&nbsp;Pugh served as Corporate Assistant Treasurer for all international
operations; from 1997-1999 he was Corporate Risk Manager and from 1999-2000 he served as Corporate
International Administration Manager. Mr.&nbsp;Pugh began his career with General Crude Oil in 1974 and
holds a B.B.A. &#150; Finance from Texas A &#038; M University.


<P align="left" style="font-size: 10pt">&#147;Mike&#146;s domestic and international financial experience within the energy industry makes him an
ideal choice for his new role with Mitcham Industries. He has a reputation for being a very &#145;hands
on&#146; person and I am confident his expertise will strengthen our growing operations,&#148; said Billy F.
Mitcham, Jr., President and CEO of Mitcham Industries.


<P align="left" style="font-size: 10pt">Mitcham Industries, Inc., a geophysical equipment supplier, offers for lease or sale, new and
&#147;experienced&#148; seismic equipment to the oil and gas industry, seismic contractors, environmental
agencies, government agencies and universities. Headquartered in Texas, with sales and services
offices in Calgary, Canada, Brisbane, Australia and associates throughout Europe, South America and
Asia, Mitcham conducts operations on a global scale and is the largest independent exploration
equipment lessor in the industry.


<P align="left" style="font-size: 10pt">This press release includes forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements other than statements of historical facts included
herein, including statements regarding potential future demand for the Company&#146;s products and
services, the Company&#146;s future financial position and results of operations, business strategy and
other plans and objectives for



<P align="center" style="font-size: 10pt">M O R E



<P align="center" style="font-size: 10pt">&nbsp;
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<P align="left" style="font-size: 10pt">future operations, are forward-looking statements. Actual results may differ materially from such
forward-looking statements. Important factors that could cause or contribute to such differences
include a prolonged and gradual recovery, or no full recovery, of the energy services sector of a
depressed oil and gas industry, and thereafter, the inherent volatility of oil and gas prices and
the related volatility of demand for the Company&#146;s services; loss of significant customers;
significant defaults by customers on amounts due to the Company; international economic and
political instability; dependence upon additional lease contracts; the risk of technological
obsolescence of the Company&#146;s lease fleet; vulnerability of seismic activity and demand to weather
conditions and seasonality of operating results; dependence upon few suppliers; and other factors
which are disclosed in the Company&#146;s Securities and Exchange Commission filings, available from the
Company without charge.



<P align="center" style="font-size: 10pt"># # #




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