Gastar Exploration Announces Completion of Parker #2 Well

    HOUSTON, March 5 /CNW/ - Gastar Exploration Ltd. (AMEX:  GST) (TSX:YGA)
announced today completion results on the John Parker #2 well. The well has
been completed in a second Bossier zone and was placed on sales on March 1,
2007 at an initial single zone gross rate of approximately 12.0 MMcfd and
9,475 psi flowing casing pressure. An additional Bossier zone in the John
Parker #2 well, previously producing at a gross rate of 3.3 MMcfd at 5,100
psi, will be co-mingled with the current completion once pressure in the
producing zone has declined. Gastar has a 50% after casing point working
interest and an approximate 37.5% net revenue interest in the well.

    Gastar Exploration Ltd. is an exploration and production company focused
on finding and developing natural gas assets in North America and Australia.
The Company pursues a balanced strategy combining select higher risk, deep
natural gas exploration prospects with lower risk coal bed methane (CBM)
development. The Company owns and operates exploration and development acreage
in the Deep Bossier gas play of East Texas. Gastar's CBM activities are
conducted within the Powder River Basin of Wyoming and upon the approximate
3.0 million gross acres controlled by Gastar and its joint development
partners in Australia's Gunnedah Basin, PEL 238 and Gastar's Gippsland Basins
located in New South Wales and Victoria, respectively.

    Safe Harbor Statement and Disclaimer:

    This Press 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 press release. These include risks inherent in the drilling
of natural gas and oil wells, including risks of fire, explosion, blowout,
pipe failure, casing collapse, unusual or unexpected formation pressures,
environmental hazards, and other operating and production risks inherent in
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 oil and natural
gas prices, a material decline in which could cause the Company 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 the
Company's Annual Report on Form 10-K, as filed on March 31, 2006 with the
United States Securities and Exchange Commission at and on the
System for Electronic Document Analysis and Retrieval (SEDAR) at

    The American Stock Exchange and Toronto Stock Exchange have not reviewed
and do not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Gastar Exploration Ltd. J. Russell Porter,
713-739-1800 Fax: 713-739-0458

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