Gastar Exploration Prices 36,500,000 Common Shares Offering

HOUSTON, May 19 /PRNewswire-FirstCall/ -- Gastar Exploration Ltd. (the
"Company") (NYSE Amex: GST and TSX: YGA) today announced that it has priced
its underwritten public offering of 36,500,000 common shares to purchasers in
the United States at a public offering price of $0.40 per share. Johnson Rice
& Company L.L.C. is acting as the sole underwriter of the offering. The
Company has also granted the underwriter a 30-day option to purchase up to an
additional 5,475,000 common shares on the same terms and conditions to cover
over-allotments, if any. The offering is expected to settle and close on May
22, 2009, subject to customary closing conditions.

The aggregate net proceeds to the Company from the offering will be
approximately $13,800,000, after deducting underwriting discounts and
commissions and estimated offering expenses, and exclusive of any proceeds
attributable to the underwriter's possible exercise of the over-allotment
option. 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.

Copies of the prospectus supplement and accompanying base prospectus relating
to this offering 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 prospectus supplement and accompanying
base prospectus may also be obtained at no charge at the U.S. Securities and
Exchange Commission's website at www.sec.gov. The shelf registration statement
on Form S-3 relating to the foregoing was declared effective by the U.S.
Securities and Exchange Commission on April 27, 2007.

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 / rporter@gastar.com

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

SOURCE Gastar Exploration Ltd.

J. Russell Porter, Chief Executive Officer of Gastar Exploration Ltd.,
+1-713-739-1800, rporter@gastar.com; or Investor Relations, 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.