SAExploration Finalizes Acquisition of Australia’s Leading Seismic Contractor, Terrex Seismic

Houston, Texas — September 2, 2025 — SAExploration Holdings, Inc. (“SAE”) announced today the acquisition of Terrex Seismic (“Terrex”), Australia’s leading seismic contractor. The acquisition returns SAE to the Australian land market and gives Terrex deep global support to continue its four-decade tradition of innovation and quality in seismic exploration.

“This acquisition is a milestone in our continued growth and strengthens our position as a global leader in seismic solutions,” said Forrest Burkholder, Chief Executive Officer of SAE. “Terrex’s history of innovation, safety, and client value aligns perfectly with our values. We will continue Terrex’s reputation of excellence for its customers, employees, and the communities in which it operates. We are very happy about the fit.”

Rick Dunlop, Chief Executive Officer of Terrex, commented: “I am very excited about the development. SAE is a client-focused seismic acquisition company with industry-leading land, marine, and transition zone operations. We share a very similar culture and values.” Mr. Dunlop added, “Looking forward, this is a natural next step in Terrex’s growth, and we are excited about the opportunities it creates for our people and our customers.”

Terrex will continue to operate under the Terrex name. “We will deliver the same consistent and trusted service our clients have come to expect, now with the added support of SAE’s global reach, resources, and expertise,” added Mr. Dunlop.

Founded in 1981, Terrex has been a trusted partner to major energy companies, delivering seismic acquisition projects all across Australia. The company is recognized for its innovative approach to projects in challenging environments, as well as its deep expertise in land-based seismic operations.

By joining forces with Terrex, SAE gains:

• Expanded geographic reach, with a stronger presence in Australia and access to Asia-Pacific growth markets.

• Complementary expertise, combining SAE’s global marine, land, and transition zone capabilities with Terrex’s specialized onshore experience.

• Enhanced client service, leveraging both companies’ proven track records for safe, efficient, and reliable project execution.

SAE Chairman Ken Tubman added that following on the successful January 2025 acquisition and integration of inApril AS, a Norwegian seismic equipment technology company, the addition of Terrex to the SAE family further strengthens SAE’s role as a unique provider in the global market. “Our global strategy is clear. We continue to position ourselves to be our customers’ first and best choice across all our seismic solutions.”

About SAExploration

SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition and support services in every part of the world. In addition to the acquisition of 2D, 3D, time-lapse 4D, and multi-component seismic data on land, in transition zones and offshore in depths reaching 3,000 meters, SAE also provides logistical support services, such as program design, planning and permitting, camp services and infrastructure, surveying, drilling, environmental assessment and reclamation, and community relations. SAE operates crews around the world, performing major projects for its blue-chip customer base, including major IOCs, NOCs, and large independent oil and gas exploration companies. With its global headquarters in Houston, Texas, SAE supports its operations through a multi-national presence throughout the world. www.saexploration.com.

About Terrex Seismic

Headquartered in Brisbane, Australia, Terrex Seismic has more than four decades of experience in onshore seismic data acquisition. Terrex is known for its pioneering work in environmentally sensitive areas and challenging terrain, delivering reliable and innovative seismic solutions to leading energy companies.

For more information, contact media@saexploration.com

Press release here

SAExploration Finalizes Acquisition of inApril AS, Improving Services for Global Seismic Customers

January 6, 2025 – HOUSTON, TX – SAExploration Holdings, Inc. (“SAExploration”) announced that it has completed the acquisition of Norway-based global seismic technology leader inApril AS (“inApril”).

“This acquisition is a milestone in global seismic technology. SAExploration is a natural home for inApril’s innovation and industry-leading technology,” said SAExploration CEO Forrest Burkholder. “We were drawn to inApril for the same reasons we use inApril technology for our own global projects. inApril shares our values of maintaining the highest standards of quality and customer commitment, prioritizing safety, efficiency, and sustainability.”

SAExploration Chairman Ken Tubman added, “The combination will lead to growth, innovation, and shared success, paving the way for broader applications in global markets. We will continue to create extraordinary opportunities for our clients, our employees, and our shareholders.”

inApril will operate as a separate business unit of SAExploration and will continue to provide its popular inApril products and technology in support of seismic operators around the world.

As part of the combination, former inApril Chairman Paal E. Johnsen has joined the SAExploration Board of Directors.

About SAE

SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition and support services in every part of the world. In addition to the acquisition of 2D, 3D, time-lapse 4D and multi-component seismic data on land, in transition zones and offshore in depths reaching 3,000 meters, SAE also provides logistical support services, such as program design, planning and permitting, camp services and infrastructure, surveying, drilling, environmental assessment and reclamation, and community relations. SAE operates crews around the world, performing major projects for its blue-chip customer base, including major IOCs, NOCs, and large independent oil and gas exploration companies. With its global headquarters in Houston, Texas, SAE supports its operations through a multi-national presence throughout the world. www.saexploration.com.

About inApril

inApril is an innovative seabed seismic equipment supplier, delivering ocean bottom nodes (OBN) and fully automated OBN back deck handling systems. inApril’s solutions offer a step change in the safe and efficient operation of seabed seismic surveys by providing cost-effective technology options needed for exploring and developing the world’s hydrocarbon reserves. inApril is based in Norway, with offices in Bergen, Trondheim and Oslo. www.inapril.com.

For more information, contact media@saexploration.com

Press release here

Media Contacts
For SAE: media@saexploration.com
For inApril: Robert.basili@inapril.com

FOR IMMEDIATE RELEASE

SAExploration Files Lawsuit Against Former Auditor PKF Texas for Egregious Negligence

PKF allowed years of unchecked criminal fraud

(HOUSTON, TX – January 17, 2023): SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has sued its former auditor, PKF Texas (“PKF”), alleging egregious professional negligence and audit malpractice that caused nearly $50 million of harm to SAE and its shareholders and seeking actual and punitive damages.

According to the lawsuit filed today, “if PKF had lived up to what was expected of it under the Generally Accepted Auditing Standards, it would have spared the Company and its shareholders from tens of millions of dollars in harm.  Instead, PKF collected its audit fees like rent and never delivered the services expected of even a minimally competent auditor.”

In 2019, SAE (then publicly traded on the NASDAQ) disclosed an SEC investigation and the discovery of significant accounting irregularities, which ultimately led to the guilty pleas of a number of former SAE executives, civil charges by the SEC, and ultimately a complete management rebuild.  PKF served as SAE’s auditor between 2015 and 2021 and had signed off on SAE’s financials year over year, turning a blind eye to improprieties that would have uncovered the years-long criminality of certain Company insiders.

“It’s disappointing that PKF has not acknowledged their role, but we are committed to holding them accountable,” said SAE CEO Forrest Burkholder. “People are always asking, where were the auditors?” added Mr. Burkholder.  “We think that’s a very good question.”

A copy of SAE’s lawsuit is available at https://saexploration.com/saexploration-holdings-inc-v-pannell-kerr-forster-of-texas-pc-original-petition/

About SAE

SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition and logistical support services throughout North America, South America, Asia Pacific, Africa and the Middle East. In addition to the acquisition of 2D, 3D, time-lapse 4D and multi-component seismic data on land, in transition zones and offshore in depths reaching 3,000 meters, SAE also provides in-house logistical support services, such as program design, planning and permitting, camp services and infrastructure, surveying, drilling, environmental assessment and reclamation, and community relations. SAE operates crews around the world, performing major projects for its blue-chip customer base, which includes major integrated oil companies, national oil companies and large independent oil and gas exploration companies. With its global headquarters in Houston, Texas, SAE supports its operations through a multi-national presence throughout the world. For more information, please visit SAE’s website at www.saexploration.com.

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Media Contact:

Madison Mann, CKP

832-930-4065×120 / madison@theckpgroup.com