Gastar Exploration Announces Successful Wagner #1 Bossier Well

    HOUSTON, April 3 /CNW/ - Gastar Exploration Ltd. (AMEX:  GST)(TSX:YGA) is
pleased to announce that it has drilled the Wagner #1 well, located in Leon
County, Texas, to a total depth of 18,202 feet. Based on preliminary analysis
of electric logs and gas shows encountered during drilling, the well
encountered approximately 66 net feet of apparent pay in three Bossier sands.
Gastar is in the process of installing a 5-inch string of casing to 18,200
feet and will then begin initial completion and testing of the Bossier pay
zones. The completion activities are expected to take approximately 45 days,
and if successful, initial gas sales are expected by August 2007, after
installation of approximately 3.3 miles of new gathering system. Gastar has a
50% working interest in the Wagner #1 well with Chesapeake Energy Corporation
(NYSE:  CHK) and a private exploration and production company each owning a 25%
working interest.

    J. Russell Porter, Gastar's President and Chief Executive Officer, issued
the following comment on the most recent results: "The Wagner #1 well, located
on the far northern corner of Gastar's acreage block, confirms the presence of
Bossier sands over a large portion of our acreage and should establish a lower
risk profile on a meaningful number of future Bossier locations. The new
gathering system connection from the Wagner #1 location to the Lone Oak Ranch
("LOR") #2 well will be key to gathering production from future drilling on
the northern portion of our Leon County acreage between the Wagner #1 well to
the north and the John Parker and LOR wells to the south."

    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 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 located in New South Wales and the Gippsland Basin in
Victoria, Australia.

    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 27, 2007 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., Houston J. Russell
Porter, 713-739-1800 Fax: 713-739-0458

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