Gastar Exploration Announces Public Offering of 36,500,000 Common Shares

    HOUSTON, May 18 /CNW/ -- Gastar Exploration Ltd. (the "Company") (NYSE
Amex:   GST and TSX: YGA) today announced that it is commencing an underwritten
public offering of 36,500,000 common shares to purchasers in the United
States. The Company will file a preliminary prospectus supplement relating to
the offering to its existing shelf registration statement on Form S-3 which
was declared effective by the U.S. Securities and Exchange Commission on April
27, 2007. The Company also intends to grant the underwriter a 30-day option to
purchase up to 5,475,000 additional common shares to cover over-allotments, if
any. The Company intends to use the net proceeds from the offering for working
capital and general corporate purposes, including for its announced 2009
capital expenditures.

    Johnson Rice & Company L.L.C. is acting as the sole underwriter of the
offering. The offering will be made by means of a prospectus supplement and
accompanying base prospectus, copies of which may be obtained from Johnson
Rice & Company L.L.C., at 639 Loyola Avenue, Suite 2775, New Orleans, LA
70113, or by phone at (504) 525-3767. An electronic copy of the preliminary
prospectus supplement and accompanying base prospectus may also be obtained at
no charge at the U.S. Securities and Exchange Commission's website at  Before you invest, you should read the prospectus and the
prospectus supplement, the registration statement, the documents incorporated
by reference therein and other documents that the Company has filed with the
U.S. Securities and Exchange Commission for more complete information about
the Company and this offering.

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The offering may be made
only by means of a prospectus and related prospectus supplement.

    About Gastar Exploration
    Gastar Exploration Ltd. is an independent energy and production company
focused on finding and developing natural gas assets in North America and
Australia. 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 the Marcellus Shale play in
West Virginia and Pennsylvania. The Company's CBM activities are conducted
within the Powder River Basin of Wyoming and concentrated on more than 6.0
million gross acres controlled by the Company and its joint development
partners in Australia's Gunnedah Basin, located in New South Wales.

    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 the Company 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.

    The NYSE Amex and Toronto Stock Exchange have not reviewed and do 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 /

    Investor Relations Counsel:
    Lisa Elliott / Anne Pearson
    DRG&E  : 713-529-6600 /


For further information:

For further information: J. Russell Porter, Chief Executive Officer of
Gastar Exploration Ltd., +1-713-739-1800,; or Investor
Relations Counsel, Lisa Elliott,, or Anne Pearson,, both of DRG&E, +1-713-529-6600, for Gastar Exploration

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