Gastar Exploration

Gastar Exploration, Ltd. is a Houston-based independent E&P engaged in the exploration, development and production of natural gas and oil in the United States. In the Hilltop area of East Texas, our drilling activities are focused on exploiting our multi-year inventory of drilling locations in the deep/middle Bossier Sands natural gas play and exploring for oil and natural gas liquids in the shallower Glen Rose Limestone and Eagle Ford/Woodbine Shale formations. We are also actively drilling in the Marcellus Shale play in Appalachia, one of the most active plays in North America, and we own interests in coalbed methane production in the Powder River Basin of the Rocky Mountains. Gastar is a Canadian corporation incorporated in Alberta in 1987. The Company is publicly traded on the NYSE Amex under the ticker symbol GST. 

East Texas 

Gastar controls approximately 33,400 gross (19,200 net) acres in the Hilltop area, located midway between Dallas and Houston in Leon and Robertson counties in East Texas. 

Deep Bossier Sands - Bossier Sands wells are characterized by high initial natural gas production, attractive estimated ultimate recoverables (EURs) and long-lived reserves from multiple pay zones. Gastar has an exceptional track record in drilling lower and middle Bossier wells and plans to continue exploiting these formations during periods of attractive natural gas prices.

Eagle Ford/Woodbine Shale and Glen Rose Limestone - In addition to its natural gas activities in East Texas, the Company began exploring shallow oil objectives in the Eagle Ford/Woodbine Shale and Glen Rose Limestone formations underlying its Hilltop acreage in mid-2010.

Knowles Limestone - In many of its deep Bossier wells, Gastar also has encountered natural gas potential in the Knowles Limestone formation, which lies above the Bossier. This shallower gas play gives Gastar an opportunity to further exploit its natural gas reserves. 

Appalachia

Marcellus Shale Play - Gastar has a total of approximately 87,600 gross (79,700 net) acres under lease in northern West Virginia and southwestern Pennsylvania in an area that is at the center of one of the most exciting unconventional resource plays in North America. Gastar's acreage is prospective for natural gas and also for natural gas liquids in portions of its acreage. The company drilled its first operated horizontal Marcellus well in the first quarter of 2011. 

Rocky Mountains

Powder River Basin - Gastar also has interests in approximately 55,000 gross (21,900 net) acres in Wyoming's Powder River Basin, one of the most active coalbed methane plays in the U.S. Gastar has commercial production from the Squaw Creek and Ring of Fire fields north of Gillette.

Gastar's primary areas of operation are:
· Deep Bossier Sands, Eagle Ford/Woodbine Shale, Glen Rose and Knowles Limestones - East Texas
· Marcellus Shale - Appalachian Basin
· Coalbed Methane - Powder River Basin