Flying object with Red and Green lights flashing

This object flew very fast across the sky like a shooting star, it then came to a sudden halt and hovered around for about 5 minutes, it changed direction several times it the flew slowly off in a downward direction and disappeared out of view. It had red and green lights on it which seemed to change one minute green then red but not in any timed pattern. We could not make out the actual shape of the object because of the lights. It appeared to have a white beam of light one side as it flew away, similar to what a torch would look like if lighting up dust. This object was far too fast for a plane or helicopter.