BROOKSIDE ENERGY LIMITED — AGM Information 2007

Nov 29, 2007

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Red Fork Energy Limited

Presentation Annual General Meeting November 2007

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Forward Looking Statements

This presentation contains “forward-looking statements”. Such forward-looking statements include, without limitation:

estimates of future earnings, the sensitivity of earnings to oil & gas prices and foreign exchange rate movements; estimates of future oil & gas production and sales;

estimates of future cash flows, the sensitivity of cash flows to oil & gas prices and foreign exchange rate movements;

statements regarding future debt repayments;

estimates of future capital expenditures;

estimates of reserves and statements regarding future exploration results and the replacement of reserves;

and where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to oil & gas price volatility, currency fluctuations, increased production costs and variances in reserves or recovery rates from those assumed in the company’s plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes.

For a more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings.

The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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Company Snapshot

Strategy

• Commercialise coal bed methane, shale gas and conventional oil & gas assets onshore USA

• Low cost shallow wells, with rapid payback and long stable production profiles

• Build and maintain large 100% owned landholding in Oklahoma

• Increase production, cash flow and value for shareholders

• Generate further projects for joint venture opportunities

Focus onshore USA

• Prolific Basins (long-life & lower-risk)

• Infrastructure and gas price

• People, experience and access to services and equipment

Key to Success

• People

• Projects

• Access to capital

• Market for production

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Execution
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Fast-track to production & cash-flow
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Oklahoma Assets

Play type : Project generation : Geology :

Coal bed methane, shale gas, conventional oil & gas

Extensive experience in the region, large database Proven oil and gas producing basins with lower-risk, longlife production potential

Landholdings : 37,000 acres leased (targeting 50,000 acres from ongoing leasing campaign)

Favourable terms : Leasing direct from mineral owners and achieving long terms with high net revenue interests

Drilling & completion :

Access to experienced drilling contractors and service companies with demonstrated successful track-records

Infrastructure : Built and acquired significant pipeline, compression and gathering infrastructure

Sales :

Direct access to trans-continental gas sales lines

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Milestones Since Listing

Red Fork (ASX:RFE)

• Secured role as operator & 100% ownership of projects through buy out of initial partner

Oct 2006 First new Oct 2007 CBM wells completed 2P reserves of & selling gas 36.4BCF, overall reserves 62.2BCF Sep 2007 Secures strategic Mar 2007 Well gas transportation completion & sales infrastructure increase Sep 2007 Production reaches 1MMcfe per day

• Established strong technical team on the ground in Oklahoma

Apr 2006 Increase interest in Osage CBM project to 100%

• Established strong relationship with service companies

• Ongoing leasing program & ground floor project generation

• Drilled/re-commissioned 13 wells

• Established production of 1mmcfe/day

• Independently certified 2P

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Nov 2007
reserves of 62.2Bcfe) A$10m capital raising
secures development plan
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A$10.2 million capital raising
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People

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David Prentice - Managing Director

21 years experience in commercial management and business development within the natural resources sector, working for some of Australia’s leading resource companies. Including high-level commercial and operational roles with a number of listed and unlisted resource companies. David currently holds non-executive directorships with four companies in the mining and energy sectors.

Michael Fry - Chairman

Extensive experience in capital markets and corporate treasury management specialising in the identification of commodity, currency and interest rate risk. A founding shareholder and trading floor dealer of Kirke Securities Pty Ltd and previously a director of Kanowna Lights Limited, Preston Resources Limited and Managing Director of Churchill Capital Pty Ltd.

Bruce Miller - Technical Director

Geologist with over 25 years experience, including well site supervision of over 400 wells. Experience includes design and implementation of drilling programs and completions, evaluation and development of oil & gas prospects and development of large CBM and shale projects in Kansas and Oklahoma.

Perry Gilstrap – President[1]

More than 30 years experience in managing and engineering conventional and unconventional oil and gas projects both on-

• Established strong team with key corporate, exploration and development skills to execute its strategy

• Technical team based in Red Fork’s Tulsa office.

• Bruce Miller and Perry Gilstrap have more than 50 years (combined) experience with Oil and Gas E&P companies in this region.

• Bruce is regarded as a CBM and Shale gas expert (supervised in excess of 400 wells to date)

• Expertise across all disciplines (engineering; pipeline construction, operation and management; production operations, project generation, exploration and development, land access and financial management)

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shore and offshore. Last 14 years in Eastern Oklahoma,
including Osage County and is experienced in the latest drilling
and completion techniques for both CBM and conventional oil
and gas wells.
Note [1] : President Red Fork (USA) Investments Inc.
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Corporate Overview

Shares on issue (RFE)	90,118,782
Current share price	$0.60
Market capitalisation	$54,071,269
Cash	$12,000,000
Debt or project finance facilities	$0
Enterprise value	$42,071,269
Unlisted options on issue	11,000,000
Listed options on issue (RFEO)	15,225,700
Notes
1. Listed options (ASX:RFEO) expiry 30 April 2009, exercise price $0.20
2. Unlisted options range of expiry dates from 2009 to 2016, exercise prices	from $0.20 to $1.00
3. Includes 18.5 million shares at $0.55 to be issued in two tranches.
Tranche 2 is subject to shareholder approval.

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Oklahoma Snapshot

	Oklahoma	Share of U.S.	Period
Reserves
Oil	630MMbbls	3%	2005
Natural Gas	17,123Bcf	8%	2005
Rigs & Wells
Rigs in Operation	179	11%	2006
Oil Wells	82,202	16%	2006
Natural Gas Wells	36,704	9%	2005
Production
Oil	62MMbbls	3%	2006
Natural Gas	1.7Bcf	9%	2005

Key Players

Constellation Energy Partners Southwestern Energy Company Devon Energy Corp Newfield Exploration Company

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Geology

The Company is targeting coal bed methane, fractured shale gas and conventional oil and gas, at depths ranging from 400 to 5,000 feet. The producing zones range in age from Pennsylvanian to Cambrian and are located in the Arkoma and Cherokee basins of Oklahoma,

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in the United States.
Antero Resources Corp
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Osage / West Tulsa

Overview

• CBM, shale gas and conventional oil & gas production

• Independently certified 2P reserves of 36.4 Bcfe

• Approximately 14,000 acres (targeting 25,000 acres), 100% owned, with NRI’s of 80% to 87.5%

• Favourable lease terms of 3 to 5 years (with options to renew)

• Located in an area of intense CBM and conventional oil & gas exploration and production activity

• Extensive geological and production data available with predictable IP’s and production rates

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Osage / West Tulsa (Target Formations)

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Eastern Oklahoma

Overview

• Targeting shale gas and conventional oil & gas production

• Biogenic shale play (possible analogue to Antrim Shale in Michigan which has produced 2.5Tcf)

• Approximately 25,000 acres, 100% owned, with NRI’s of 81.25% to 87.5%

• Favourable lease terms of 3 to 5 years

• Located in an area of intense leasing activity, with offsetting rapid development, including horizontal and vertical drilling

• Shallow depths to target of between 500feet and 2,000feet

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Summary Table

Project	Acres	WI	NRI	Term	Production MMcfe/day	Reserve Bcfe
Osage	4,800	100%	80.0%	HBP/2yrs renew.	1MMcfe	36.4 (2P)
West Tulsa	6,700	100%	81.25%-87.5%	3+2yrs		14.2 (3P)
Eastern Oklahoma	25,000	100%	81.25%-87.5%	3+2yrs		11.6 (3P)
South Central Oklahoma	200	100%	81.2%	3+2yrs
Total	36,700					62.2

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Note:
WI = Working Interest
NRI = Net Revenue Interest
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Execution

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Est.
Dec 2007 March 2008 June 2008 Sept 2008 Dec 2008
Total
Quarter Quarter Quarter Quarter Quarter
Wells
Drilling Drilling
Osage 5 wells
Infrastructure Reserve Drilling Drilling 35
West Tulsa planned
build statement
Drilling
Eastern
Leasing Leasing Leasing Infrastructure Drilling 9
Oklahoma
build
Leasing Drilling
South Central JV Leasing Infrastructure Drilling Drilling TBA
negotiations build
Other Generation Generation Evaluation Evaluation Evaluation
TBA
Projects Evaluation Evaluation Leasing Leasing Leasing
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Targeted Production, Revenue & Reserves

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25 250
Production
Net Revenue
20 200
Reserves
15 150
10 100
5 50
0 0
2007 2008 2009
Bcfe
MMcfe per day / A$M
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Summary

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Listing
October 2007 October 2009
October 2005
Landholding 4,200 acres 34,000 acres 50,000+ acres
Production Nil 1MMcfe/day 6.3MMcfe/day
Gas gathering
lines (40 miles),
three sales line,
Extensive
permits for taps
infrastructure,
Basic gathering into two
with capacity to
Infrastructure & storage purchasing
gather and
infrastructure entities,
market
stripper plants
through-put gas
and
compression
equipment.
36.4Bcfe (2P)
Reserves Nil 150Bcfe+
62.2Bcfe (3P)
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Summary

• All the ingredients for growth are in place:

• Landholding secured, 100% owned, long lease terms in established basins

• Production established, first milestone of 1MMcfe/day achieved

• Initial 2P reserves of 36.4Bcfe established

• Experienced management team with people in place in Oklahoma

• Excellent relationships with contractors and suppliers

• Four Project areas being developed

• Targeting production of 6.3MMcfe/day with revenue of A$18.4m and reserves of 150Bcfe by December 2009

• Potential to unlock significant value from the Eastern Oklahoma Project

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