BROOKSIDE ENERGY LIMITED — Capital/Financing Update 2012

Nov 20, 2012

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ASX Announcement

November 21, 2012

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

Mississippian Operations Progress Report

Oklahoma based (Australian Securities Exchange and OTCQX listed) oil and gas exploration and production company, Red Fork Energy Limited (“Red Fork” or the “Company”) is pleased to provide the following update on operations. The Company currently has three rigs active in the Mississippian play with 15 wells across four development areas at various stages from producing, completing, awaiting completion and drilling. A fourth rig is scheduled to commence operations in the first quarter of 2013.

Website

Highlights

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)

Listings

RFE.AX (Fully Paid Ordinary Shares) RDFEY.OTCQX (1 ADR = 10 FPO’s)

•  Six horizontal wells now successfully producing to sales through permanent production facilities

•  Two horizontal producers bought online in Development Area 2 during November

•  Stimulation underway or set to commence on two additional horizontal producers

•  Spud to rig release achieved in 28 days on Jardine #126H well

Development Area 2

Bunch #1-19H

Production testing is continuing successfully on this well. Production has averaged 184 Boe per day over the last 15 days. The maximum rate achieved to date is 241 Boe per day (74% crude oil and 26% high BTU gas).

Jardine #1-26H

This well successfully reached target depth of 9,607 feet. The well has now been logged and cased and is awaiting completion. Spud to rig release was achieved in 28 days.

McMurtry #1-22H

Production testing is continuing successfully on this well. Production has averaged 232 Boe per day over the last 4 days. The maximum rate achieved to date is 303 Boe per day (79% crude oil and 21% high BTU gas).

Continues…

State #1-16H

Production testing has begun on this well. The well is testing to permanent facilities with over 4,300 feet of fluid over the pump.

State #1-13H

Reservoir stimulation operations are currently underway.

Warburton #1-23H

Reservoir stimulation is scheduled for later this month.

Development Area 3

Hartog #1-10H

This well is currently drilling in the lateral at a depth of 7,500 feet. Expected target depth is 9,377 feet. This is the second well drilled on this pad site and only the second to be drilled in this development area.

Mawson #1-3H

This well has reached target depth of 9,581 feet. Reservoir stimulation is expected to be completed during December.

Development Area 4

EastOK-Holland #1-21 SWD

Drilling operations have been completed with a total vertical depth of 5,903 feet. Completion of this well as a produced water disposal well will begin shortly.

Forrest #1-21H

This well is currently drilling at a depth of 5,300 feet and has an estimated total target depth of 8,636’. This is the first producer drilled in this new development area.

Yours faithfully,

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David Prentice Managing Director

www.redforkenergy.com.au

The following table details the status of wells across the Company’s Big River Mississippian development areas to date.

Well Name	RFE WI1	Status	Peak Rate (Boe/d) 2	30-Day (Boe/d)	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%	Cleaningup			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#1-10H	93.7%	Drilling			3
Forrest #1-21H		Drilling			4
Flinders #1-25H		Preparingto spud			2
Rio Grande #1-28H					4

Notes:

1. Red Forks Working Interest

2. The equivalent barrels production rate has been calculated on a simple 6:1 ratio

www.redforkenergy.com.au

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