BROOKSIDE ENERGY LIMITED — Capital/Financing Update 2012

Jan 26, 2012

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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

Red Fork Energy Mississippian Operations Progress Report

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 provide the following update on operations across its holdings in the Mississippian play in Oklahoma.

The Company has commenced a very large seismic and permitting program that will under pin its forward horizontal Mississippian drilling program through 2012 and beyond.

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)

ASX Code

RFE (Fully Paid Ordinary Shares)

This program is focused on Red Fork’s highly contiguous acreage in North West Noble County and East Payne County and is adjacent to the current successful development program in the Eastern limb of the broader Mississippian play.

The 3D seismic program (which has already commenced) will cover an additional 25 sections (640 acre spacing units), increasing the total number of sections cleared by seismic between Pawnee, Payne and Noble Counties to 45.

Importantly, this current program (seismic and permitting) will also be used to establish two new development pods (with water disposal and supporting oil storage and gas gathering infrastructure), one pod in North West Noble County and one in East Payne County.

The completion of this program will see Red Fork with four developments pods in the heart of this part of the play. These development pods will support up to a total of 45 horizontal Mississippian producers.

Further updates will be provided as the program continues.

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