Chesapeake Energy Corporation announceS that its previously announced transaction with Gastar Exploration Ltd. (AMEX:GST; TSX:YGA) to acquire all of Gastar's right, title and interest in a portion of its East Texas undeveloped leasehold and to purchase 10 million newly issued Gastar common shares will not be consummated due to a third party exercising its right of first refusal through an existing agreement. However, because of certain anti-dilution rights previously obtained, Chesapeake will acquire approximately 1.8 million additional shares from Gastar at the price of $2.00 per share, thereby maintaining Chesapeake's fully diluted ownership in Gastar at 14.95%.
