13D Filing: Blue Mountain Capital and Saexploration Holdings Inc. (NASDAQ:SAEX)

Item 5.  Interest in Securities of the Issuer.

The information contained
in Item 5 of the Schedule 13D is hereby amended and supplemented by adding the information below.

(a-b) All percentages set
forth in this Schedule 13D are based on the Issuer’s 34,977,087 shares of Common Stock outstanding as of September 6, 2018,
as disclosed in the Form 8-K filed by the Issuer on September 11, 2018. The information set forth in Rows 7-13 and the footnotes
of each Cover Page, as well as the information set forth in Item 3 of this Schedule 13D, are hereby incorporated herein by reference.

During the past sixty
(60) days on or prior to September 6, 2018 (the “Event Date”), and from the Event Date to the Filing Date, other
than as set forth herein, there have been no additional transactions in Issuer’s securities.

Item 7.   Material to be Filed
as Exhibits.

18. Joint Filing Agreement, dated as of December
22, 2017 (incorporated by reference to Exhibit 7 to Amendment No. 2 to Schedule 13D, filed with the Securities and Exchange Commission
on December 26, 2017).

19. Warrant Agreement for the Series E Warrants
(incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed by the Issuer on September 11, 2018).