Mr Eggeling, Haast Constable Robin Manera and farmer John "J. J." Nolan were among the many friends of the Saxton family who went to Lake Wanaka to search yesterday.
Mr Eggeling lost his son Raymond in a boating accident several years ago and felt deeply for Mr Saxton's father, Dave.
Many people had not slept since hearing the news, he said.
"It is disaster, a terrible thing to happen to such a young fellow, such a waste of a life," Mr Eggeling said.
Mr Eggeling said he had marked the spot yesterday where the oil slick was found, while helicopter pilot Toby Wallis hovered overhead, but had not seen the wreckage of the helicopter.
Mr Eggeling believed from the soundings he took that it was about 70m below the water's surface, which was not as deep as had been said and made it possible for the helicopter to be recovered.
Mr Eggeling was not sure which of the Heliventures helicopters had gone down.
Mr Saxton had an R22 for some time but had recently obtained another and some reports suggested he was in the new one.
It was important for the family and the community that Mr Saxton was found and that questions about what happened to the machine were answered.
The community was disgusted at media headlines that referred to Mr Saxton as a greenstone thief, Mr Eggeling said.
His life was so much more than that, and he had been a key search and rescue volunteer in south Westland, he said.
Focusing on the greenstone crime was "a slap in the face", and those comments were not called for, Mr Eggeling said.
