Seitel Appoints Robert D. Monson as New CFO

Seitel Appoints Robert D. Monson as New CFO 


HOUSTON, May 10  /PRNewswire-FirstCall/ -- Seitel, Inc. (OTC Bulletin Board:
SEIEQ; TSE: OSL) ("Seitel" or the "Company") today announced that Robert D.
Monson has been appointed Chief Financial Officer, effective immediately.

Mr. Monson has over 19 years of experience in the oil and gas industry,
including over four years in the international seismic industry.  He has served
in various financial capacities with Schlumberger Limited since 1985, most
recently as business segment CFO for Schlumberger Well Services and the
worldwide controller for Oilfield Technology Centers.  Prior to this, Mr.
Monson served as either treasurer or controller to other Schlumberger entities,
including assignments in their New York headquarters and various international
locations.

"We are very excited to have Robert join our team, and his experience will be
invaluable as we emerge from bankruptcy," said Randall D. Stilley, CEO and
President of Seitel.

On March 18, 2004 the Bankruptcy Court confirmed Seitel's Chapter 11 plan of
reorganization. The plan is supported by Seitel's Official Committee of Equity
Security Holders, as well as the Company's largest creditors, Berkshire
Hathaway Inc. and Ranch Capital LLC.  In addition to Berkshire and Ranch, the
bankruptcy plan was accepted by the holders of more than 99.6% of the shares of
common stock who voted on the plan.

ABOUT SEITEL

Seitel is a leading provider of seismic data and related geophysical services
to the oil and gas industry in North America. Seitel's products and services
are used by oil and gas companies to assist in the exploration for and
development and management of oil and gas reserves. Seitel has ownership in an
extensive library of proprietary onshore and offshore seismic data that it has
accumulated since 1982 and which it offers for license to a wide range of oil
and gas companies. Seitel has a diversified customer base, which includes
marketing to more than 1,300 customers and license agreements with more than
1,000 customers. Seitel's library of 3D seismic data is one of the largest
available for licensing in the U.S. and Canada. The company has ownership in
approximately 32,000 square miles of 3D seismic data, primarily located in
major North American oil and gas producing regions. Seitel's customers utilize
this data, in part, to assist their identification of new geographical areas
where subsurface conditions are favorable for oil and gas exploration, to
determine the size, depth and geophysical structure of previously identified
oil and gas fields and to optimize the development and production of oil and
gas reserves.

Forward-Looking Statements

Statements in this release about the future outlook related to Seitel involve
known and unknown risks and uncertainties, which may cause the Company's actual
results to differ materially from expected results. While the Company believes
its forecasting assumptions are reasonable, there are factors that are hard to
predict and influenced by economic and other conditions that are beyond the
Company's control. Among the other important factors which could cause actual
results to differ materially from those in the forward- looking statements are
the failure of the plan to otherwise become effective, as well as other factors
detailed in the Disclosure Statement or in Seitel's filings with the Securities
and Exchange Commission, including its most recent Form 10-K Annual Report, a
copy of which may be obtained from the Company without charge. 

DATASOURCE: Seitel, Inc.



CONTACT:  Leonard Goldstein of Seitel, Inc., [phone],

; Scott Tagliarino of Rubenstein Associates,

[phone], , for Seitel, Inc.

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