BROOKSIDE ENERGY LIMITED — Capital/Financing Update 2011

Jul 20, 2011

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ASX Announcement
July 21, 2011
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Red Fork Energy Limited ACN 108 787 720

Level 2, 79 Hay Street Subiaco Western Australia 6008 PO Box 1424 West Perth WA 6872

Telephone +61 8 9200 4470 Facsimile +61 8 9200 4471

Contact

David Prentice Managing Director david.prentice@redforkenergy.com.au

Website

Mississippian Acreage Reaches 55,000 Net Acres

Oklahoma based (Australian Securities Exchange listed) oil and gas exploration and production company Red Fork Energy Limited (“Red Fork” or the “Company”) is pleased to announce that its continuing leasing initiatives have delivered a further increase in its holdings in the exciting horizontal Mississippian oil and liquids rich gas play in Oklahoma.

Red Fork now holds approximately 55,000 net (select highgrade) acres in the heart of this rapidly developing play.

www.redforkenergy.com.au

Directors

Michael Fry (Chairman) David Prentice (Managing Director) Perry Gilstrap (Director Operations) Bruce Miller (Director Resources) Steve Miller (Non-Executive Director)

The Company has acreage across five of the key Counties (Grant, Kay, Noble, Payne and Pawnee) in the north eastern limb of the play (see attached map).

Importantly, all of our acreage is leased with 100% Working Interest (NRI’s of 81.25% or better) primarily with 3 year primary term and a two year option.

ASX Code

RFE (Fully Paid Ordinary Shares)

As detailed in the attached map this part of the play is receiving a great deal of attention (drilling and development as well as leasing) from several very large NYSE listed E&P companies including Devon Energy Corp, Marathon Oil Corp, Chesapeake Energy Corp, Range Resources Corp, and SandRidge Energy Inc.

Red Fork’s successful leasing activities are ongoing and operations for the 2011 five well horizontal drilling program have commenced.

Yours faithfully

David Prentice Managing Director

Forward Looking Statements

This announcement 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 and 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 release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

www.redforkenergy.com.au

Red Fork Energy Limited – Mississippian Acreage

~55,000 (net) high-grade acres within the highlighted townships

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Horizontal Mississippian Play P R A T T S E D G W I C K B U T L E R W I L S O N C R A W -
K I O W A (~6.5 million acres) K I N G M A N Kansas E LUS listed operators with acreage positions K M O N T - L A - F O R D
in the highlighted townships: G O M E R Y B E T T E [C] H E R -
CM OA N- C H E B A R B E R H A R P E R S U M N E R C H A UDevon Energy Corp. (NYSE:DVN) ($33.6bn) T - O K E E
Dutch Meyer Peffly Barnard C O W L E Y Q U A Marathon Oil Corp. (NYSE:MRO) ($22.3bn)
750 boepd [(a) ] 671 boepd [(a) ]
792 boepd [(a) ] Chesapeake Energy Corp. (NYSE:CHK) ($21.3bn)
Range Resources Corp. (NYSE:RRC) ($9.6bn)
Kilian SandRidge Energy Inc. (NYSE:SD) ($4.6bn)
761 boepd [(a) ]
Victor
Sundance 892 boepd [(a) ]
541 boepd [(a) ]
Kasper
341 boepd [(a) ]
Spencer
Wiley 521 boepd [(a) ]
417 boepd [(a) ] Toews
378 boepd [(b) ] Gilbert
State 607 boepd [(a) ]
341 boepd [(a) ] Mela
413 boepd [(b) ]
Sebranek
1,253 boepd [(b) ]
Ripley
312 boepd [(b) ]
Oklahoma
Select industry horizontal wells from across the play
(a) Average peak 30 day production
Spirit Creek
(b) Production data “at the rate of” ~400 boepd [(b) ]
160 miles
Nemaha
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Sources:

1. Production data sourced from IHS Inc. and SandRidge Energy Inc.

2. Leasing information obtained from County records.