Gastar Exploration Announces Effectiveness of 1-for-5 Reverse Split



    



    
    HOUSTON, Aug. 3 /CNW/ -- Gastar Exploration Ltd. (NYSE Amex:   GST)
announced today that the previously announced share consolidation on the basis
of one (1) common share for five (5) common shares became effective, and the
post-consolidation common shares commenced trading on the NYSE Amex on August
3, 2009.  The Company's shareholders approved the proposal for a reverse stock
split at a Special Meeting of Shareholders held on June 20, 2008, and the
Board of Directors approved the implementation of the reverse stock split at a
meeting held June 29, 2009.  Upon the exercise of any options or warrants,
resulting shares issued will be issued on a post-consolidation basis.  No
scrip or fractional certificates will be issued in connection with the reverse
stock split.  Shareholders who otherwise would be entitled to receive
fractional shares because they hold a number of common shares not evenly
divisible by five will receive a number of shares after rounding up to the
next whole common share.

    Registered shareholders of Gastar who hold existing physical stock
certificates will receive a letter of transmittal from Gastar's transfer
agent, American Stock Transfer & Trust Company, containing instructions on how
to receive new share certificates.  Shareholders whose certificates are held
in "street name" or on deposit with their brokerage firm will need to take no
further action.
    

    About Gastar Exploration
    
    Gastar Exploration Ltd. is an exploration and production company focused
on finding and developing natural gas assets in North America.  The Company
pursues a strategy combining deep natural gas exploration and development with
lower risk CBM and shale resource development.  The Company owns and operates
exploration and development acreage in the deep Bossier gas play of East Texas
and Marcellus Shale play in West Virginia and Pennsylvania.  Gastar's CBM
activities are conducted within the Powder River Basin of Wyoming.  For more
information, visit our web site at www.gastar.com.
    

    Safe Harbor Statement and Disclaimer
    
    This news release includes "forward looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Act of 1934.  A statement identified by the words "expects",
"projects", "plans", and certain of the other foregoing statements may be
deemed forward-looking statements.  Although Gastar believes that the
expectations reflected in such forward-looking statements are reasonable,
these statements involve risks and uncertainties that may cause actual future
activities and results to be materially different from those suggested or
described in this news release.  These include risks inherent in the drilling
of natural gas and oil wells, including risks of fire, explosion, blowouts,
pipe failure, casing collapse, unusual or unexpected formation pressures,
environmental hazards, and other operating and production risks inherent in
the natural gas and oil drilling and production activities, which may
temporarily or permanently reduce production or cause initial production or
test results to not be indicative of future well performance or delay the
timing of sales or completion of drilling operations, risks with respect to
natural gas and oil prices, a material decline in which could cause Gastar to
delay or suspend planned drilling operations or reduce production levels, and
risks relating to the availability of capital to fund drilling operations that
can be adversely affected by adverse drilling results, production declines and
declines in natural gas and oil prices and other risk factors described in
Gastar's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other
filings with the SEC at www.sec.gov and on the System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com.

    The NYSE Amex has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
    

    Company Contact:
    Gastar Exploration Ltd.
    J. Russell Porter, Chief Executive Officer
    713-739-1800 / rporter@gastar.com
    

    
    Investor Relations Counsel:
    Lisa Elliott / Anne Pearson
    DRG&E  : 713-529-6600
    lelliott@drg-e.com / apearson@drg-e.com



    




For further information:

For further information: J. Russell Porter, Chief Executive Officer of
Gastar Exploration Ltd., +1-713-739-1800, rporter@gastar.com; or Lisa Elliott,
lelliott@drg-e.com, or Anne Pearson, apearson@drg-e.com, both of DRG&E,
+1-713-529-6600, for Gastar Exploration Ltd. Web Site: http://www.gastar.com

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GASTAR EXPLORATION LTD.

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