My Son and I were camped at Woolum campground on the last night of a week long float trip on the Buffalo River, and had moved our camp chairs out from our campsite to watch the stars, satellites, etc.We witnessed a bright light due East from our location moving erratically. It then stopped, grew really bright, and then dim, and dropped approx. 1000 ' in altitude. It then went bright again and shot off perpendicular to its drop in altitude and (Think 'L')stopped. At this point it dimmed to almost nothing, and then changed to a reddish color and shot off at an angle of maybe 15° upwards and disappeared.