Exhibit 99.1

Gastar Exploration Announces Successful Lone Oak Ranch #2 Bossier Well


    HOUSTON--(BUSINESS WIRE)--March 29, 2007--Gastar Exploration Ltd.
(AMEX:GST) (TSX:YGA) is pleased to announce that it has drilled the
Lone Oak Ranch #2 well ("LOR #2") located in Leon County, Texas to a
total depth of 18,100 feet. Based on preliminary analysis of electric
logs and gas shows encountered during drilling, the well encountered
approximately 36 net feet of apparent pay in two Bossier sands. Gastar
is in the process of installing a 5-inch string of casing to 18,100
feet and will then begin initial completion and testing of the Bossier
pay zones. The completion activities are expected to take
approximately 30 days and, if successful, initial production is
expected by late April 2007. Gastar has a 50% after casing point
("ACP") working interest, with Chesapeake Energy Corporation
(NYSE:CHK) and a private exploration and production company each
owning a 25% ACP working interest.

    Gastar is currently drilling the Wagner #1 well, a Bossier test
offsetting two successful Bossier wells drilled by ConocoPhillips and
expects to reach total depth in approximately five days. Gastar is
also currently drilling the Donelson #3 well, another Bossier test
that offsets the earlier successful Donelson #1 well drilled by
Gastar. The Donelson #3 well is expected to reach total depth in
approximately 35 days.

    Gastar's President and Chief Executive Officer, J. Russell Porter,
commented, "Gross production from the Bossier area is continuing to
grow with the recently announced completion of the John Parker #2,
Williams #1 and Wildman Trust #2 wells. We expect a successful
completion of the LOR #2 well will add to our production growth for
the second quarter 2007 and continue the trend of economic Bossier
completions."

    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 operates
exploration and development acreage in the Deep Bossier gas play of
East Texas. 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 in New South Wales and the
Gippsland Basin in Victoria, Australia.

    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