I was watching TV at a home on Lakeshore Road in Oakville Ontario with the two owners on June 4 2015. At about 11 p.m. one of the owners noticed a bright light when looking out of a back window. We thought it was the moon but quickly realized that it was much brighter. We went outside and observed a very bright white light hovering over Lake Ontario directly behind the house facing south east. The sky was clear with no noticeable clouds. We also saw the moon further to the right (south). We then looked at the light through binoculars and it appeared to be a flat surfaced diagonal circle made up of many white lights. I got out my camera (Nikon Coolpix L120 with 21x zoom) and took several photos and videos. I put the camera on a tripod for some of the shots. Through the camera lens the object appeared to be more of a yellow-orange colour. It was round but seemed pitted and had an interior outline (like a pizza crust). The outermost edge was fuzzy. In the video you can see that it was pulsating. In some photos there also appears to be a small red circle to the right of the main circle. It cast a large reflection on the lake. It did not appear to be moving but at times it would suddenly disappear and then reappear in another spot nearby about 10 seconds to one minute later. We were baffled and excited. At approximately 11:50 it suddenly disappeared. I stayed outside for about 20 more minutes but it did not reappear. I have never seen photos or videos like the ones I took.