BROOKSIDE ENERGY LIMITED — AGM Information 2008

Nov 27, 2008

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‐ ‐ low risk oil “Developing long life , and gas assets in Oklahoma”

Annual General Meeting November 2008

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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

Corporate

ASX Code: RFE, RFEO

October 2005

IPO: A$5.6 million @ $0.20 Market Cap: A$10 million

Today

Portfolio

• Certified 2P reserves of ~42Bcfe

• Approximately 1 MMcfe per day production

• Current p roduction & reserves from j ust 7% of total holdin g s

• Over 70,000 acres to be developed (all 100% owned)

• Three projects Osage, West Tulsa & East Oklahoma

• Extensive pipeline, compression & sales infrastructure

Shares on Issue : 91.5 million Listed Options: 15.1 million (April 2009 A$0.20) Unlisted Options: 11.0 million (Performance Options) Market Cap: A$24 . 5 million (Fully Diluted) Shareholders: ~1,000 Top 20: ~Holding 67% Cash: A$4 million (30 September 2008) Enterprise Value: A$20.5 million Debt: Zero

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Board of Directors

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Michael Fry Chairman

(B. Com, ASIA) Associate of the SIA and p ast member of the ASX. Extensive experience in capital markets and corporate treasury management.

Perry Gilstrap Director Operations

(Petroleum Engineer) 30+ years experience, includin g mana g in g and engineering oil and gas projects in Oklahoma.

Bruce Miller Director Resources

(B.Sc. Geol, M.Sc. Geol) 25+ years experience, includin g develo p ment of large CBM and shale projects in Kansas and Oklahoma.

David Prentice Managing Director

(Grad.Dip.BA, MBA) More than 20+ years ex p erience in commercial management and business development within the natural resources sector.

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Portfolio balanced between stability & growth

Stability

Growth

Asset type supports stability

• Established, long‐life and low‐risk

• Shallow relatively inexpensive to develop

• E x t ens ve un i d eve ope l d acreage n proven p ays i l

• Stable operating environment

• Upside in extensions to existing plays and conventional targets at depth

Growth oriented oil & gas company

• Acquisition and development of long‐life, low‐ risk assets in proven plays

• Very experienced and focussed local executive management team

• Committed to building cash‐flow and delivering future growth from existing (internally genera t e d) acreage

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Three production centres emerging in Oklahoma

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Reserves & Revenue Growth – Land Holdings,

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120 250
Land Holdings (Acres '000)
100
Revenue (Net A$m per annum) 200
Reserves (2P Bcfe)
80
150
60
100
40
East Oklahoma
50
20
West Tulsa
Osage
‐ ‐
Listing 2007 2008 2009
7
fe
res
Ac
2P Bc
A$
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Reserve Position as at June 30 2008 ,

	Project	Acres	1P Bcfe	2P Bcfe	3P Bcfe
	Osage	5,000	12.0	31.0	31.0
	W t T l es u sa	15 000 ,	1 5 .	10 0 .	25 0 .
	East OK	50,000	0.0	0.0	30.0
	Total	70,000	13.5	41.0	86.0
	Net Revenue A$m		73.0	238.0	485.0
	PV10 A$m		11.0	80.0	198.0

Note

1. Osage includes oil reserves of 0.5 Mmbbls (1P) and 1.3 Mmbbls (2P)

2. West Tulsa includes oil reserves of 0.12 Mmbbls (1P) and 0.8 Mmbbls (2P)

3. Total oil reserves stand at 0.6 Mmbbls (1P) and 2.1 Mmbbls (2P)

4. Bcfe is calculated on a revenue equivalent basis using US$90 per Bbl for oil and US$7.00 per Mcf for gas

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Asset Portfolio Detail

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Three production centres emerging in Oklahoma

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Project Overview

Osage ro ecP j t Acres: ~5,000acres Ownership: RFE 100% (NRI 80%+) Lease Term: HBP or 2 years renewable Target: CBM, Conventional Oil & Gas Current Activity: Drillin g, com p letin g and p roduction testin g Drilling Program: ~11 wells in 2008 (7 drilled to date) Reserves: ~2P 32Bcfe Net Sales: A$190m (2P only) PV 10 %: A$62m (2P only)

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Project Overview

West T u sal Acres: ~15,000acres Ownership: RFE 100% (NRI 82.5%+) Lease Term: 3 years (plus 2 year option) Target: CBM, Conventional Oil & Gas Current Activity: Drillin g, com p letin g and p roduction testin g Drilling Program: ~4 wells in 2008 (3 drilled to date) Reserves: ~2P 10Bcfe, 3P 14Bcfe Net Sales: A$130m (3P) PV 10 %: A$70m (3P)

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Pumping Unit ‐ Fuss #1‐34 Well

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Central Delivery Point & Water Disposal

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Project Overview

East Oklahoma Acres: ~50,000acres Ownership: RFE 100% (NRI 81.25%+) Lease Term: 3 years (plus 2 year option) Target: Shale Gas Current Activity: Drillin g, com p letin g and p roduction testin g Drilling Program: ~20 wells in 2008 (3 drilled to date) Reserves: ~ 3P 30Bcfe Net Sales: A$165m (3P) PV 10 %: A$65m (3P)

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Phase 1 – Development Plan
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Drilling ‐ West #2‐2 Well

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Tap into sales line

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Financial Overview

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Building an Independent Exploration & Production Company

Goals

• Develop sustainable cash flow to fund development of existing assets and new opportunities

• Build flexibilit y and balance into our ca p ital structure and future funding strategy (cash flow, debt, private equity & shareholder equity)

• Establish financial independence and sustained growing profits

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Source and application of funds
Actual Targets
40
35 Administration
Operating
30
Capex
P r va i t e qu E it y
25
Debt
20 Equity
R evenue
15
10
5
0
FY2007 FY2008 FY2009 FY2010
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Summary

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The ingredients for growth

All the ingredients for growth are in place:

• Landholding secured, 100% owned, long lease terms

• Located in established plays

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

• Initial 2P reserves of ~42Bcfe established

• Experienced management team with people in place in Oklahoma

• Excellent relationships with contractors and suppliers

• Three production centres being developed

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Transition to an Independent Oil & Gas Company

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Reserves reach
Production reaches
200Bcfe and
2MMcfe per day
production reaches
6MMcfe per day
Production
established from all Production reaches
three project areas 10MMcfe per day
Asset Acquisition Development Annuity income
Exploration Sustainable cash‐flow Sustained Profits
Infrastructure build Profitability Asset Acquisition
2006 2009 2011
Today
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Key Takeaways

• High quality assets

– ‐ Stable , building long life production

• Low‐risk, low‐cost drilling

• Established organic growth potential

• Emerging inherent upside

• Opportunistic acquisition strategy

• ‐

• Accretive and low risk

• Disciplined team committed to delivering

– Building financial flexibility and reducing risk

• Demonstrated operational skill and efficiency

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Red Fork Energy Limited

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