Gastar Announces Amended and Restated Credit Agreement

Initial Borrowing Base of $47.5 Million

HOUSTON, Oct. 29 /PRNewswire-FirstCall/ -- Gastar Exploration Ltd. (NYSE Amex:
GST) announced today that it has entered into an amended and restated credit
agreement with Amegy Bank, as administrative agent and co-lead arranger, Bank
of Montreal, as co-lead arranger and joint bookrunner, and IBERIABANK fsb.
The new revolving credit facility provides Gastar an initial borrowing base of
$47.5 million at LIBOR plus 250 to 350 basis points, depending on borrowing
utilization percentage. The Company currently has no borrowings outstanding
under the agreement except for a letter of credit in the amount of $100,000.
The credit facility has a scheduled maturity date of January 2, 2013 and is
subject to semi-annual borrowing base redeterminations.

J. Russell Porter, Gastar's President and Chief Executive Officer, stated, "We
have completely transformed Gastar's capital structure over the last four
months and now have almost no net debt. This new credit facility gives us the
flexibility to pursue opportunities as they arise under a long-term low cost
facility. The facility may be used from time to time to finance accelerated
drilling activity in East Texas and Appalachia, exploration activities and
additional acreage acquisition in Appalachia, as well as other investment
opportunities and general corporate purposes. However, we reiterate our
commitment to maintaining a strong balance sheet and funding most business
activities through cash flow from operations."

The facility contains financial covenants typical for this type of lending
including requirements that the Company maintain quarterly an "Interest
Coverage Ratio" of at least 2.50:1.00, a "Total Net Indebtedness to EBITDA
Ratio" not to exceed 4.00:1.00 and a "Current Ratio" of at least 1.00:1.00, as
adjusted. For additional information, please refer to the amended and
restated credit agreement which will be filed with the Securities and Exchange
Commission on form 8-K.

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 shale resource and CBM 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 and Montana.
For more information, visit our web site at www.gastar.com.

Company Contact:
Gastar Exploration Ltd.
Michael Gerlich, Vice President and CFO
713-739-1800 / mgerlich@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.

Michael Gerlich, Vice President and CFO of Gastar Exploration Ltd.,
+1-713-739-1800, mgerlich@gastar.com; or Investor Relations Counsel, 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.