The object swayed and suddenly dropped, then made of circular motions,with the coloured lights circling it in no particular sequenceIt was seen against a dark sky, with lots of stars. As it was near the Newcastle airport planes frequently crossed over, so we new it wasnt an aeroplane. It was oval shaped and seemed to stay in the same place for at least 30 minutes. It flashed white, red, orange and blue in no particular sequence, but it looked like the colours were circling the object.There seemed to also be a red cicle around it like an aura. Then after about 30 minutes it started to sway from side to side. Then it dropped at what seemed like a high speed, but it could still be seen. Again it started to sway then after another 10 minutes it circled in the sky. There was only one in the sky. My friend got her binoculars out of her house and we all saw that there seemed to be four dots of light around it and on the oval itself there looked like there were zig-zag patterns. It also looked like it left a slight red trail behind it.At about 1hour into the sighting it seemed to get smaller and smaller, but not that quickly, this took about 10 minutes.((NUFORC Note: We suspce a twinkling star. PD))