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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 7, 2006
GASTAR EXPLORATION LTD.
(Exact Name of Registrant as Specified in Its Charter)
ALBERTA, CANADA 001-32714 38-3324634
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1331 LAMAR STREET, SUITE 1080
HOUSTON, TEXAS 77010
(Address of principal executive offices)
(713) 739-1800
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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SECTION 8 - OTHER EVENTS
ITEM 8.01 OTHER EVENTS.
On February 7, 2006, Gastar Exploration Ltd. announced that it has
finalized initial completion operations on its two most recent wells in the
Hilltop area of East Texas. Gastar is currently drilling another Knowles
formation well and is finalizing plans for a multi-rig Bossier drilling program.
The Donelson #1 well is flowing to sales at a gross sales rate of 7.9 MMCFD
and the Donelson #2 well is flowing to sales at gross sales rates of 1.9 MMCFD
(a combined 7.3 MMCFD net to Gastar) from completions in the lower Bossier and
Knowles formations, respectively. The Donelson #1 well is completed in only one
of three pay zones in the lower Bossier formation. The Donelson #1 well also
encountered potential pay in the middle and upper Bossier formations as well as
the shallower Pettet formation. After producing the initial completion for a
brief period of time, Gastar plans to add additional lower Bossier completions
in the Donelson #1 well that are expected to increase production rates. Gastar
is also finalizing plans to add additional perforations and perform an acid
stimulation in the Knowles pay zones in the Donelson #2 well after production
testing of the well.
Gastar is currently drilling the Wildman Trust #1 well (Gastar 67% working
interest) in the Hilltop vicinity to a planned total depth of 14,600 feet to
test the Pettet, Travis Peak and Knowles formations. The Wildman Trust #1 well
is expected to reach total depth in approximately 35 days.
A copy of the Company's press release, dated February 7, 2006, regarding
this filing is attached as Exhibit 99.1 hereto and is incorporated herein by
reference.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following is a list of exhibits filed as part of this Form 8-K:
Exhibit No. Description of Document
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99.1 Press release dated February 7, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GASTAR EXPLORATION LTD.
Date: February 7, 2006 By: /s/ J. RUSSELL PORTER
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J. Russell Porter
President and Chief Executive
Officer
EXHIBIT INDEX
Exhibit No. Description of Document
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99.1 Press release dated February 7, 2006.