50% increase

Luvley

Red Fork?s Mississippian Holdings Reach 30,000 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 it has significantly increased its holdings in the exciting horizontal Mississippian oil and liquids rich gas play in Oklahoma.
Red Fork?s continuing leasing initiatives have resulted in a 50% increase in total holdings in the play in just six weeks.
In a recent Federal lease sale, the Company was pleased to emerge as the successful bidder for in excess of 7,000 (select high grade) acres within its defined Big River target area of the play.
The Company now holds approximately 30,000 acres within this target area. Red Fork is leasing directly from mineral owners, taking a 100% Working Interest in leases with three to five year term?s and Net Revenue Interests of 80% or better.
Red Fork expects to continue to grow its holdings in its target area through its leasing initiatives as well as through the acquisition of larger tracts and through Federal and State lease sales. The Company is targeting total holdings of approximately 50,000 acres by the middle of this calendar year.