Don Broeder (chopper pilot) and myself (fixed wing pilot)were driving from the airport to ro rendezvous with scarce and hard to get dates. We both reluctantly decided to check this out. We booted back to the airport,removed the engine tent and heaters of the beaver, taxing I advised Ken Carpender on air radio that we were doing a local flight to check this out.To the north west it is flat to the mountain range 80mi away, no winter roads, no oil rigs, nothing that could be producing this phenomenom.We flew out about five miles without seeing a thing, we tryed different altitudes and still nothing.Landing, Ken advised that we should come over and take a look as he had climbed the stairs to the roof and discovered our object.On the roof the three of us watched this thing perform. Rising from the horizon as a single object then decending below the horizon leaving as many as five distinct glow's. It was decided that I would get back and uncover the beaver leaving Don on the roof to comunicate down to Ken comunicating with me. Taking off again still nothing. Don says your heading right for it. The airport is on a bit of a plato and was able to decend lower than Don on the roof, still nothing. Ken joind Don on the roof watching this thing perform, they both can see this and I can't. We finally got to town to late to take care of business. My date (a hardend cafe operator) (who I ended up Married to) was sympathetic for been stood up as she had recently had an encounter that we put down as swamp gas. Her story with picture made the local paper. Our important encounter didn't, sometimes life is just not fair.In comperison a star the size of small tapioca and shiny this object been the size of large tapioca, duller and more yellow.Both Don and I experienced a strange loss of interest to this experience.I have felt that this contributed to a number of phenomenal things encountered over the years.