Exhibit 99.1

Gastar Exploration Announces Successful Results from John Parker #2 Well


    HOUSTON--(BUSINESS WIRE)--Dec. 12, 2006--Gastar Exploration Ltd.
(AMEX:GST) (TSX:YGA) is pleased to announce that it has drilled the
John Parker #2 well located in Robertson County, Texas to a total
depth of 18,400 feet. Based on preliminary analysis of electric logs
and gas shows encountered during drilling, the well encountered
approximately 66 net feet of apparent pay in upper and middle Bossier
sands. As previously announced, the John Parker #2 well also
encountered a reef within the Knowles Limestone with approximately 28
net feet of apparent pay. This Knowles pay zone was confirmed to have
significant porosity and permeability from gas shows during drilling
and core analysis. Gastar is in the process of installing a 5-inch
string of casing to 17,500 feet and will then begin initial completion
and testing of the middle Bossier pay zones. The completion activities
are expected to take approximately 30 days and, if successful, initial
production is expected by late-January 2007. Gastar has a 50% after
casing point ("ACP") working interest with Chesapeake Energy
Corporation (NYSE:CHK) and an unrelated private E&P company each
owning a 25% ACP working interest.

    Commenting on the announcement, J. Russell Porter, Gastar's Chief
Executive Officer, stated, "The John Parker #2 well is further
confirmation of the extent of the middle Bossier sands deposited on
Gastar's acreage position. In addition, the well appears to have
discovered exciting new plays in the upper Bossier sands and a Knowles
Limestone reef in the northern portion of our leasehold position. Our
continued successful Bossier development, and the exploration and
development of other shallower formations like the Knowles Limestone,
should be further enhanced when Gastar receives the new 3-D seismic
data currently being acquired over its leasehold position. We expect
to have the new 3-D data processed and available for interpretation in
late February 2007."

    Gastar Exploration Ltd. is an exploration and production company
focused on finding and developing natural gas assets in North America
and Australia. The Company pursues a balanced strategy combining
select higher risk, deep natural gas exploration prospects with lower
risk coal bed methane (CBM) development. The Company owns and controls
exploration and development acreage in the Deep Bossier gas play of
East Texas and in the deep Trenton-Black River play in the Appalachian
Basin. Gastar's CBM activities are conducted within the Powder River
Basin of Wyoming and upon the approximate 3.0 million gross acres
controlled by Gastar and its joint development partners in Australia's
Gunnedah Basin (PEL 238) and Gippsland Basin (EL 4416) located in New
South Wales and Victoria, respectively.

    Safe Harbor Statement and Disclaimer:

    This Press Release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934. A statement identified by the words
"expects", "projects", "plans", and certain of the other foregoing
statements may be deemed forward-looking statements. Although Gastar
believes that the expectations reflected in such forward-looking
statements are reasonable, these statements involve risks and
uncertainties that may cause actual future activities and results to
be materially different from those suggested or described in this
press release. These include risks inherent in the drilling of natural
gas and oil wells, including risks of fire, explosion, blowout, pipe
failure, casing collapse, unusual or unexpected formation pressures,
environmental hazards, and other operating and production risks
inherent in natural gas and oil drilling and production activities,
which may temporarily or permanently reduce production or cause
initial production or test results to not be indicative of future well
performance or delay the timing of sales or completion of drilling
operations; risks with respect to oil and natural gas prices, a
material decline in which could cause the Company to delay or suspend
planned drilling operations or reduce production levels; and risks
relating to the availability of capital to fund drilling operations
that can be adversely affected by adverse drilling results, production
declines and declines in natural gas and oil prices and other risk
factors described in the Company's Annual Report on Form 10-K, as
filed on March 31, 2006 with the United States Securities and Exchange
Commission at www.sec.gov and on the System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com.

    The American Stock Exchange and Toronto Stock Exchange have not
reviewed and do not accept responsibility for the adequacy or accuracy
of this release.

    CONTACT: Gastar Exploration, Ltd., Houston
             J. Russell Porter, 713-739-1800
             Fax: 713-739-0458
             rporter@gastar.com
             www.gastar.com