Many UFO sighting go unreported owing to ridicule and possible reputation 
damage.
I know of one sighting (1967) where 2 fifteen year old lads observed a UFO 
in Gippsland (Victoria).
At around 2130 hours a UFO emerged from the stars and hovered above these 
lads.  A short time later the UFO returned to the stars at an unbelievable 
speed.
One witness (my cousin) is very credible and the other (his friend) refuses 
to mention what he witnessed.