Gastar Exploration Reiterated 'Speculative Buy/4', $7 Target Valuation By Investrend Research Analyst Kipley J. Lytel, CFA

Business Wire, April 7, 2006

NEW YORK -- Reissuing release dated April 6, 2006 to correct ticker symbol for searching purposes.

The corrected release reads:

GASTAR EXPLORATION REITERATED 'SPECULATIVE BUY/4', $7 TARGET VALUATION BY INVESTREND RESEARCH ANALYST KIPLEY J. LYTEL, CFA

(Investrend Research Syndicate) Gastar Exploration Ltd. (AMEX: GST; TSX: YGA) has been reiterated as "Speculative Buy / 4," with a $7 Target Valuation by Investrend Research Analyst Kipley J. Lytel, CFA.

The analyst stated:

Gastar Exploration Ltd. demonstrated strong operating trends in the three months ended 12/31/05 (Q4FY05) with the following milestones compared to the same period last year:

--reported 49% lower net loss attributable to common shares

--125% increase in revenue

--58% increase in production

--327% increase in EBITDA

--total FY05 proved reserves of 33.0 Bcf of natural gas and 1,000 barrels of oil

--36 net productive developed wells

--770 net developed acreage (2,200 gross) & 1.75M net undeveloped acreage (3.4M Gross)

Gastar Exploration reported 49% lower net loss attributable to common shares for the three months ended December 31, 2005 of $4.8 million, or $0.03 per basic and diluted common share, compared to a net loss of $9.4 million, or $0.08 per basic and diluted common share, for the three months ended December 31, 2004. Total revenues for the three months ended December 31, 2005 increased 125% to $9.9 million, an increase of $5.5 million.

Average daily production for the year ended December 31, 2005 increased 239% to 10.5 MMcfed, compared to 3.1 MMcfed for the year ended December 31, 2004. EBITDA for the year ended December 31, 2005 was $12.3 million, up from EBITDA of $63,000.

Total proved reserves were 33.0 Bcf of natural gas and 1,000 barrels of oil. The present value of estimated future cash flows before income taxes as of December 31, 2005, based on the weighted average natural gas and oil prices after basis adjustments of $56.00 per barrel and $7.39 per Mcf and discounted at 10% per annum, was $91.3 million.

Investrend Research's pioneering program facilitates independent analysts to provide coverage on companies that otherwise would have little or no analyst following. Investrend subscribes to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com. Enrollment fees for standard Benchmark coverage are $24,800 per annum, and the fees were paid by the company. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor employees of Investrend Research may own or trade stocks of companies under coverage.

The company's research is enrolled for investor monitoring by the not-for-profit Shareholders Research Alliance, Inc.

Complete information is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at www.investrendresearch.com. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.

Anyone interested in receiving alerts regarding Gastar research should email contact@investrend.com with "GST" in the subject line.