Gastar Exploration Reiterated 'Speculative Buy/4', $7 Target Valuation by Investrend Research Analyst Kipley J. Lytel, CFA.

NEW YORK -- (Investrend Research Syndicate) Gastar Exploration Ltd. (TSX: YGA; OTC: GSREF) has been reiterated as "Speculative Buy / 4," with a $7 Target Valuation by Investrend Research Analyst Kipley J. Lytel, CFA.

The analyst stated:

Gastar's natural gas and oil sales for the three months ended June 30, 2005 sharply increased over 5-fold to $4.9 million, compared to natural gas and oil sales for the comparable 2004 period of $517,000.

Likewise, TSX's average daily production of natural gas and oil sales for 2QFY05 markedly increased by approximately 660% to 8.4 million cubic feet of natural gas equivalents per day (MMcfed), compared to 1.1 MMcfed for the comparable 2004 period. EBITDA for the three months ended June 30, 2005 turned positive to $2.9 million, up from a negative EBITDA of $331,000 from the same comprable period last year.

With the initiation of production of the Greer well, Gastar has a total of four wells producing in the Hilltop area from the Deep Bossier sands.

We continue to expect Gastar to actively seek the maximized value of the properties acquired by developing and exploiting properties with the highest production and reserve growth potential, while also rationalizing the portfolio of properties acquired by selling marginal properties or select pieces. The Company also may seek to form joint ventures and seek joint venture partners in order to reduce capital expenditure in a particular project and share the costs of operating the prospect.

We also continue to believe that Gastar's long-term appreciation potential will likely be driven first by conventional plays in the U.S. and later, by gradually increasing contribution from the more stable resource plays in Australia.

The analyst's credentials are at http://www.investrend.com/articles/secondlevel.asp?level=238

Enrollment in standards-based research is an important measure of a company's commitment to transparency and Good Governance. Investrend Research's pioneering program facilitates independent analysts to provide coverage for shareholders in companies that otherwise would have little or no analyst following. Investrend subscribes to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com. Enrollment fees for standard Benchmark coverage are $24,800 per annum, and the fees were paid by the company. Analysts are paid in advance of initial reports by Investrend Research to eliminate pecuniary interest, and neither the analyst nor employees of Investrend Research may own or trade stocks of companies under coverage.

Complete information is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at www.investrendresearch.com. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.

Anyone interested in receiving alerts regarding Gastar research should email [e-mail] with "YGA" in the subject line.