Exhibit 99.1

         Gastar Exploration Announces Successful Wagner #1 Bossier Well

    HOUSTON--(BUSINESS WIRE)--April 3, 2007--Gastar Exploration Ltd.
(AMEX:GST)(TSX:YGA) is pleased to announce that it has drilled the
Wagner #1 well, located in Leon County, Texas, to a total depth of
18,202 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 three Bossier sands. Gastar is in the
process of installing a 5-inch string of casing to 18,200 feet and
will then begin initial completion and testing of the Bossier pay
zones. The completion activities are expected to take approximately 45
days, and if successful, initial gas sales are expected by August
2007, after installation of approximately 3.3 miles of new gathering
system. Gastar has a 50% working interest in the Wagner #1 well with
Chesapeake Energy Corporation (NYSE:CHK) and a private exploration and
production company each owning a 25% working interest.

    J. Russell Porter, Gastar's President and Chief Executive Officer,
issued the following comment on the most recent results: "The Wagner
#1 well, located on the far northern corner of Gastar's acreage block,
confirms the presence of Bossier sands over a large portion of our
acreage and should establish a lower risk profile on a meaningful
number of future Bossier locations. The new gathering system
connection from the Wagner #1 location to the Lone Oak Ranch ("LOR")
#2 well will be key to gathering production from future drilling on
the northern portion of our Leon County acreage between the Wagner #1
well to the north and the John Parker and LOR wells to the south."

    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 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 located 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 27, 2007 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