Bright red object drifts slowly an then fades outAprox. 1 mile south of Oakwood, TX off of FM 542, looking south from a stationary vehicle, my friend and I observed an interesting object. About 15 degrees above the horizon a very noticeable deep reddish orange light with a diffuse haze around it approximately 3 times brighter than Venus (which was visible in the southeastern sky at the time)was moving slowly in a western direction. Motion was determined as this object was drifting slowly in relation to the rest of the star field nearby. Object was viewed for about 20 seconds then it slowly began to fade out over a time frame of about 5 seconds. The brightness, hue and motion of this object preclude it from being a satellite or meteor. Object could not have been an aircraft either, as 2 planes were seen in the area about a minute after the object disappeared and had a vastly different appearance than the unknown object.