At the approx time of 8.15pm a bright circular red light was spotted north east of Lake Macquarie NSW Australia.At the approx time of 8.15pm January 2000 a bright circular red light was spotted north east of Lake Macquarie NSW Australia. I was called to view this. When I did I noticed it made no sound and was approx 10000 feet, (I first thought it might be an Aircraft). I then thought it was a Satellite/Shuttle until it started darting quickly backward, sideways and forward in an erratic fasion and then stoped for a lenghty period of time before starting to move erratically. My Parents who are open minded on UFO's were also convinced it was strange. I am a pilot and was convinced a fixed wing aircraft would not be able to manoeuvrer like this. There was no sound so that puts a Helicopter with a search light out of the question. Plus the altitude and erratic behaviour puts this out of the question. I went inside to telephone the local radar, (Williamtown Millitary RAAF Base) but I could not get through. It then was seen to pick up unrealistic speed and disappeared. It was a clear night, I am not certain of the moonlight on the night. I have been trying to find a report for my area to see if there was anyone else who saw this.