13D Filing: Cross River Capital Management LLC and Enservco Corp (ENSV)

The Shares held by the Reporting Persons
were acquired for investment purposes in the ordinary course of the Reporting Persons’ investment activities because they
believe the Shares represent an attractive investment opportunity. The Reporting Persons are filing this Schedule 13D/A to report
a change in their beneficial ownership percentage of the Shares, as indicated in Item 5 below.

Effective
January 19, 2016, the board of directors of the Issuer (the “Board”) unanimously consented to increase the number of
directors from five to six, and to appoint Mr. Murphy as a member of the Board. There were no arrangements or understandings between
Mr. Murphy and any other person pursuant to which he was appointed as a member of the Board.

In
connection with Mr. Murphy’s appointment to the Board, Mr. Murphy was granted 100,000 stock options under the Issuer’s
2010 Stock Incentive Plan. The stock options vest as follows: (i) 50,000 on 01/19/17 (i.e., Mr. Murphy’s first anniversary
as a member of the Board), and (ii) 50,000 on 01/19/18 (i.e., Mr. Murphy’s second anniversary as a member of the Board).
All of the stock options are exercisable until 01/18/21 at a strike price of $0.37 per share (being the closing price on January
16, 2016). Mr. Murphy has also become a party to an indemnification agreement with the Issuer in the form attached as Exhibit 10.07
to the Issuer’s annual report on Form 10-K for the year ended December 31, 2013.

On
June 28, 2017, the Reporting Persons were granted 1,612,902 warrants (the “Warrants”), at an exercise price of $0.31
per share, upon entering into two promissory notes with the Issuer. The Warrants are exercisable at any time at the option of the
Reporting Persons and expire on June 28, 2022.

Except as otherwise set forth herein,
the Reporting Persons do not have any present plans or proposals which would relate to, or result in, the matters set forth in
subparagraphs (a) – (j) of Item 4 of Schedule 13D.

The Reporting Persons reserve the right, at
a later date, to effect one or more of such changes or transactions in the number of Shares they may be deemed to beneficially
own.

As of the date hereof, Cross River Capital
may be deemed to be the beneficial owner of 12,074,420 Shares, constituting 22.9% of the Shares, based upon 52,680,562 Shares outstanding
as of the date hereof, as adjusted for the Warrants of the Issuer beneficially owned by Cross River Capital. Cross River Capital
has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 12,074,420 Shares.
Cross River Capital has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct
the disposition of 12,074,420 Shares.

As of the date hereof, Cross River Management
may be deemed to be the beneficial owner of 12,074,420 Shares, constituting 22.9% of the Shares, based upon 52,680,562 Shares outstanding
as of the date hereof, as adjusted for the Warrants of the Issuer beneficially owned by Cross River Management. Cross River Management
has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 12,074,420 Shares.
Cross River Management has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct
the disposition of 12,074,420 Shares.

As of the date hereof, Cross River Partners
may be deemed to be the beneficial owner of 12,074,420 Shares, constituting 22.9% of the Shares, based upon 52,680,562 Shares outstanding
as of the date hereof, as adjusted for the Warrants of the Issuer beneficially owned by Cross River Partners. Cross River Partners
has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 12,074,420 Shares.
Cross River Partners has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct
the disposition of 12,074,420 Shares.

As of the date hereof, Mr. Murphy may be deemed
to be the beneficial owner of 12,198,320 Shares, constituting 23.1% of the Shares, based upon 52,730,562 Shares outstanding as
of the date hereof, as adjusted for the Warrants and stock options of the Issuer beneficially owned by Mr. Murphy. Mr. Murphy has
the sole power to vote or direct the vote of 123,900 Shares and the shared power to vote or direct the vote of 12,074,420 Shares.
Mr. Murphy has the sole power to dispose or direct the disposition of 123,900 Shares and the shared power to dispose or direct
the disposition of 12,074,420 Shares.

The transactions in the Shares by the Reporting
Persons since the Reporting Persons’ most recent filing of Schedule 13D in respect of the Issuer are set forth on Exhibit
B.