BROOKSIDE ENERGY LIMITED — Capital/Financing Update 2012

Aug 9, 2012

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

==> picture [246 x 34] intentionally omitted <==

==> picture [472 x 65] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
August 10, 2012
----- End of picture text -----

$50 million for Mississippian Development Ramp Up

Red Fork Energy Limited ACN 108 787 720

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

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 announce an agreement to raise A$50 million (before costs of issue) via an underwritten placement (“Placement”) of approximately 74.63 million new ordinary shares at an issue price of $0.67 per share to qualified institutional and sophisticated investors. The issue price is at an 8% discount to the last closing share price.

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

Contact

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

The additional funding will allow the Company to continue and accelerate its aggressive operated Mississippian project drilling program, maintain on-going leasing within the Mississippian play and provide additional working capital.

Website

www.redforkenergy.com.au

Directors

The Placement is subject to shareholder approval at an Extraordinary General Meeting (“EGM”), to be held for that purpose, on or around Thursday, 13 September 2012. A Notice of Meeting will be despatched to all shareholders shortly.

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

Euroz Securities Limited acted as Underwriter and Lead Manager to the Placement and E.L. & C. Baillieu Stockbroking as broker to the issue.

Listings

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

Commenting on the Placement, Red Fork Managing Director Mr David Prentice said, “the strong support for the Placement follows continued favourable production and testing results.”

“This additional capital will allow us to seek to replicate these results across an increasing number of development areas as we ramp up our horizontal Mississippian drilling.”

“We are delighted with the support shown for the Placement, both from our existing shareholders and new institutional investors who recognise the growth potential of our large operated position in one of the premier liquids rich plays in the United States.”

Yours faithfully

David Prentice Managing Director

Disclaimer

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the Securities Act), or any state securities laws and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under The Securities Act in compliance with the registration requirements or an applicable exemption from the registration requirements of The Securities Act and applicable state securities laws.

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