BROOKSIDE ENERGY LIMITED — AGM Information 2012

Nov 22, 2012

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Annual General Meeting 23[rd] November 2012

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Forward-looking Statements
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This presentation contains forward-looking statements that are subject to risk factors associated with the oil and gas business. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results or trends to differ materially, including but not limited to exploration and appraisal drilling, operating and production results, estimates of resources and reserves, competition, environmental risks, legislative risks, access to capital, project delay or advancement, approvals, cost estimates, price fluctuations and demand. Investors should undertake their own analysis and seek advice from their professional advisor before deciding to invest in Red Fork Energy Limited.

Reserve Certification

The independent certification of the reserves outlined in this presentation was undertaken by Lee Keeling & Associates, Inc. (LKA). LKA are engaged each year by the Company to review and prepare a report on the Company’s oil and gas reserves. LKA are petroleum consultants based in the United States with offices in Tulsa and Houston. LKA provide specific engineering services to the oil and gas industry and consult on all aspects of petroleum geology and engineering for both domestic and international projects and companies. LKA have consented to the release of this reserves information.

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Local Large scale
experienced exposure to Exposure to
United States based
premier oil rising natural
mid-continent management gas prices
prone eastern
through
team
focused oil and gas part of the legacy shale
explorer and Mississippian gas assets
producer Play
Strong balance
sheet with growing
Controlling
production and
operations utilizing
cash flow
Tier One service
supporting future
companies
development
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Red Fork - Year in Review

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2011 2012 Current	2011 2012 Current	2011 2012 Current	2011 2012 Current	2011 2012 Current
Full Time Employees	16	29	∧81%
Mississippian Acres	55,000	75,000	∧36%
OperatingRigs	1	2	∧100%	3
Gross Production	107Mboe	126Mboe	∧18%	~400Mboe1.
Average DailyProduction	293Boe	345Boe	∧18%	~1,100Boe
% Oil	25%	33%	∧32%	~66%
Market Capitalization	$162MM	$260MM	∧60%
Revenue	$3.0MM	$4.4MM	∧47%
Gross Profit	$1.6MM	$2.6MM	∧62%

1. Current daily production annualized

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Corporate Structure

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Australian Bakken
Securities
Red Fork Energy Limited
Exchange and
OTCQX listed
Niobrara
Mississippian
Oklahoma
Corporation -
Red Fork (USA) Investments, Inc.
wholly owned
Red Fork Operations
subsidiary
Wolfberry
Mid-stream Eagle Ford
affiliate EASTOK Pipeline LLC
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Corporate Overview

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Capital Structure	Capital Structure
Shares on issue	384.9 mm
Unlisted options & Perf. Rights1	14.5 mm
Shareprice2 (A$)	$0.67
Market cap (A$mm)	$258.0
Debt(A$mm)	Nil
Cash3 (A$mm)	~$58.0
Enterprise value(A$mm)	$200.0

1. Option exercise prices range from $0.35-$1.20, with exercise dates of June to November 2014

2. As at 1 November, 2012

One-year Share Price Performance

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1. As at 30 September, 2012

ü Primary listing on Australian Securities Exchange (RFE.AX)

Listed in the United States on the OTCQX (RDFEY.OTCQX) (1 ADR = 10 FPO’s)

ü Institutional shareholders now account for greater than 54% of the total register with the Top 20 holding ~70%

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Mississippian Play Overview

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• ü A premier oil resource play contending with the best of the onshore plays

• ü Vast resource potential covering in excess of 17mm acres

• ü Naturally fractured Limestone with further potential in stacked play (particularly east of the Nemaha Ridge)

Mississippian	Mississippian
EUR	200 to 500Mbbl
Oil Cut %	35% to 80%
Gross Well Cost	$2.5 to $3.7MM
PV-10	$4.0 to $5.0MM
IRR	70% to >100%

• ü Very well understood reservoir due to large amount of vertical well data

• ü Compelling economics driven by shallow depths, high liquids contents and abundant infrastructure

• ü Maturing play with +1100 horizontal wells drilled to date and ~88 active rigs

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Keys to the Mississippian
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• Use vertical and horizontal

• ü petrophysical (log) data/analysis and seismic to determine structure, lithology and formation characteristics (fractures, faults, porosity, thickness etc.) for targeted completions

• ü Target the correct interval(s) within the Mississippian to minimize drill time and maximize production rates and returns

• ü Designing and performing the “right” completions/stimulations

• ü Large contiguous acreage blocks to facilitate development and control via produced water disposal infrastructure

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Unit Drilling Rig #10, Noble County OK

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Mississippian East of the Nemaha Ridge
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Gas >Oil
West East
Chat
Pennsylvania Formations
Red Fork Acreage
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Red Fork in a Great Neighborhood
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• ü Strategically positioned in the oil prone area east of the Nemaha Ridge

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• ü ~75,000 (net) highgrade acres

• ü Focus area for DVN, RRC and others

• ü Gas processing and oil refining adjacent to acreage

• ü Available refining and processing capacity

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Size of our Prize

• ü Potential for greater than 900 (1,500) gross locations in full field development

• ü Contiguous blocks with operations control to facilitate development

• ü Produced water disposal infrastructure is a key asset – reduced costs, improved efficiency and barrier to entry

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Initial Type Well Metrics	Initial Type Well Metrics
Oil EUR	195Mbbl (100% oil)
Gas EUR	302MMcf (high BTU gas)
Total EUR1.	245Mboe (79% oil, 21% gas)
Gross Well Cost	US$3.2mm/well
1st30 days	180boe/day
NPV102.	US$4.45MM
IRR	~75%

Notes:

1. The equivalent barrels (“BOE”) has been calculated on a simple 6:1 ratio

2. The NPV(10) is net to Red Fork and includes capital and operational cost estimates as well as royalties and taxes (other than corporate taxes) and assumes SEC pricing of US$95.89 per barrel for oil and US $5.229 per MCF for gas (adjusted for the liquids yield contained in high BTU gas).

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Development Areas
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RED FORK
ü Acreage leased for
X BIG RIVER
drilling locations RFE LEA
MSLM ACTIV
ü Focused in counties Gra nt Kay Area 9 0 60,
20 Sections
where >90% of the Average WI 56% FE
historical vertical 3Ar 9 Section ea 1 0 s By: Terri Witte/M
August
producers were Av era ge WI 56%
classified as oil wells Osage
Area 5
Area 7
8 Sections
ü Targeted specific 36 Sections
Ave rage WI 59%
(640 acre) sections Average WI 59%
offsetting areas of Garfield Nobl e Pawn e e
good historical Area 3 X
23 Sections
X Average WI 61%
vertical production
and low gas to oil Area 2
39 Sections
Average WI 68%
ratio (GOR)
Area 1
Red Fork Acreage Pay ne 32 Sections
ü Contiguous blocks Ar ea 8 Average WI 72%
Note : Average Working Interest 40 S ections
with control to is for controlled sections Average WI 73%
facilitate 16 Sections Area 6 52Ar S ections ea 4
Logan Average WI 59% Average WI 61%
development 20 Miles
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Red Fork’s Mississippian Operations
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• ü Demonstrated operating capability through strong initial production results

• ü 15 horizontal Mississippian wells (eight completed for production, one currently being stimulated, three awaiting completion and three currently drilling)

• ü 10 development areas planned across five key counties east of the Nemaha Ridge in the Mississippian play

• ü Stacked play potential with horizontal Woodford oil activity increasing adjacent to Red Fork’s holdings

• ü Significant infrastructure (commercial produced water gathering and disposal systems and gas gathering to sales) established or under construction across four development areas

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Typical Development Area
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• ü 39 Sections ü Average WI 68% (NRI 55.25%)

• ü HBP’s ~17,000 acres

• ü Supports 39 wells – 8 wells drilled (assumes 640 acre spacing’s)

• ü Establishes at least 78 PUD’s

Key: Drilled well Planned well Water pipeline Proposed water pipeline Gas gathering Proposed gas gathering

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Development Area 2
Tasman #1-15H J & H #1-14H
Produced
State #1-13H
Water
State #1-16H Injection
Gas Gathering & Gas to
Produced Water Sales
Pipelines
TBN #1-29H
Bunch #1-19H
Warburton #1-23H
McMurtry #1-21H
Blair #1-24H
TBN #1-32H McMurtry #1-22H
TBN #1-25H
Produced
Water TBN #1-26H
Injection
McMurtry #1-27H
2 Miles
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Results to date

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Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area	Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area	Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area	Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area	Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area	Well Name RFE WI1 Status Peak Rate (Boe/day)2 30-day (Boe) Dev. Area
Tahara #1-28H	100.0%	Producing	283	139	1
Abunda #1-21H	100.0%	Testing	N/A	N/A	1
McMurtry#1-21H	62.2%	Producing	712	445	2
Blair #1-24H	92.7%	Producing	400	232	2
Tasman #1-15H	92.0%	Producing	250	180	2
Bunch #1-19H	94.9%	Producing			2
McMurtry#1-22H	59.2%	Producing			2
State #1-16H	62.0%	Unloading			2
State #1-13H	50.0%	Stimulation underway			2
Warburton #1-23H	61.5%	Awaitingcompletion			2
Mawson #1-3H	100.0%	Awaitingcompletion			3
Jardine #1-26H	40.9%	Awaitingcompletion			2
Hartog#10H	93.7%	Drilling			3
Forrest #1-21H		Drilling			4
Flinders #1-25H		Preparingto spud			2
Rio Grande #1-28H					4

Notes & Assumptions;

1. Red Fork’s Working Interest

2. Equivalent barrels rate is calculated on a 6:1 ratio

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Statistical Play
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NSAI Average 1[st] Month 136 Boepd (Avg) 244 Boepd $3,040M (Avg) Total Average 1[st] 30 Days Actual 272 Boepd Recent Average 1[st] 30 Day Actual 307 Boepd 11 Wells in completion cycle 5 Wells Drilling 307 Boepd (Avg) $2,679M (Avg)

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Type Well Comparison
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Additional Play Potential
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• ü Multiple productive lithology's

• § High porosity chert “Chat”

• § Siliceous limestone (medium porosity)

• § Fractured limestone (lower porosity)

• ü Significant open or partially healed fractures

• ü Currently completing only in upper third of the Mississippian section

• ü Woodford (in the oil window) TOC up to 10% is a great source

• ü Wilma 1-16H (DVN) horizontal Woodford test achieves initial rate of 353bbls oil and 262mcf gas

• ü Red Fork yet to complete in Woodford

• ü Other operators experiencing similar success

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�
Mu
Permian
�
Virgilian
Missourian
Pennsylvanian
Desmoinesian �
Atokan
Morrowan �
Chesterian
Meramecian
Mississippian
Osagean � Sig
Kinderhookian
Woodford
Devonian
�
Wo
Silurian
Sylvan
Ordovician
Viola
Arbuckle
Cambrian
Precambrian
Productive Zones Primary Objective Secondary Objective
Hunton
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NYSE DVN d

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Indicative Development Schedule
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50 Actual Indicative drilling schedule 5
45
40 4
35
30 3
25
20 2
15
10 1
5
0 0
2011 1st 1/2 2012 2nd 1/2 2012 2013 2014 2015 2016
Development Wells 0 0 0 0 0 6 36
HBP Wells 2 4 10 36 36 30 0
Rigs Operating 1 2 3 4 4 4 4
Wells
# Operating Rigs
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Forward Activity

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H2 CY 2012	H2 CY 2012	H2 CY 2012	CY 2013	CY 2013	CY 2013	CY 2013
Sep Qtr		Dec Qtr	Mar Qtr	Jun Qtr	Sep Qtr	Dec Qtr
Mississippian Project
Production
Maiden Reserves
Mississippian Drilling
Area 1 (9 wells)
Area 2 (10 wells)
Area 3 (2 wells)
Area 4 (9 wells)
Area 6 (3 wells)
Area 8 (10 wells)
Area 9 (3 wells)
Operated Drilling Rigs
2 Rigs
3 Rigs
4 Rigs

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Summary
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• ü Red Fork Energy continues to build on its significant position in one of the premier onshore United States horizontal oil plays

• additional high-grade acreage has been added and leasing initiatives continue

• initial development wells successful with positive flow rates confirming quality of the reservoir in the oilier part of the play

• the play has become a key focus area for several leading US independents

• competitive economics when compared against the more established horizontal plays

• ü Focus on initial Mississippian development program, participate in non-operated opportunities, establish production and initial reserve position and continue to expand the current acreage position

• ü Red Fork Energy presents an early stage entry into one of the most exciting new liquids plays in the US and is underpinned by core producing assets

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Produced Water handling facilities Development Area 2, Noble County OK

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Appendix
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Mississippian Reserve Certification at June 30, 2012

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Bbl Bcf Boe1. NPV(10)2. Net Wells	Bbl Bcf Boe1. NPV(10)2. Net Wells	Bbl Bcf Boe1. NPV(10)2. Net Wells	Bbl Bcf Boe1. NPV(10)2. Net Wells	Bbl Bcf Boe1. NPV(10)2. Net Wells	Bbl Bcf Boe1. NPV(10)2. Net Wells
1P	1,676,000	2.4	2,071,000	24.8	6
2P	3,791,000	5.6	4,734,000	45.5	10
3P	23,013,000	36.0	29,028,000	158.0	35
1C	132,613,000	206.0	166,924,000	446.0	207
All	155,626,000	242.0	195,953,000	604.0	242

Notes:

1. The equivalent barrels (“Boe”) has been calculated on a simple 6:1 ratio with the total volume made up of 79% crude oil and 21% high BTU gas.

2. The NPV(10) or net present value at a 10% discount is net to Red Fork and includes capital and operational cost estimates as well as royalties and taxes (other than corporate taxes).

3. The full field development plan for these reserves includes a total of 801 locations (based on three wells per 640-acre spacing unit). The economic model that generates the net present values (NPV at 10% discount) includes capital and operational cost estimates as well as royalties and taxes (other than corporate taxes).

4. The economic model uses SEC pricing. Using a constant price of US$95.89 per barrel for oil and a constant price of US $5.229 per MCF for gas (adjusted for the liquids yield contained in high BTU gas).

5. The volumes stated in this summary of reserves are based on gross amounts recoverable per 640-acre section. Red Fork’s Working Interest (“WI”) varies from section to section across its holdings, with the WI in its controlled sections averaging approximately 63% and the non-controlled sections averaging approximately 20%. Importantly, the number of controlled sections is expected to increase as development ramps up.

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