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Monday, August 8, 2011

Red Fork Energy Limited (ASX: RFE) Stock News; Horizontal Mississippian Drilling Underway

August 8, 2011 (Investorideas.com Newswire) Oklahoma based (Australian Securities Exchange listed) oil and gas exploration and production company Red Fork Energy Limited (RFE.AX) ("Red Fork" or the "Company") is pleased to announce that drilling operations are underway at the Company�s first development area in the exciting horizontal Mississippian oil and liquids rich gas play in Oklahoma.
Drilling and associated equipment was moved on location over the weekend to the Company�s twin well location in Pawnee County.
The Tahara 1-28H well is expected to be spudded from this location this week. Drilling time is expected to be 25 to 30 days. The drilling rig will then be moved 75 feet to the north and the Abunda 1-21H well will be spudded from the same pad site.
Red Fork expects to have both wells drilled logged and cased in approximately 60 days from the initial spud date of the Tahara 1-28H well.
The Company expects that a total of approximately 8,500 feet of lateral will be drilled and cased from these two wells on this twin well location. Completion work is scheduled to commence immediately after all drilling equipment is removed.
Red Fork holds a majority interest in these first two wells and will be the operator.
Water disposal, gas lines, and electric services are being extended to existing facilities to service this twin well location.
Yours faithfully
David Prentice
Managing Director
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