Gastar Exploration Announces 82% Increase in 2P Reserve Certification for Australian Coal Seam Gas Project

Friday, Nov 21, 2008

Gastar Exploration Ltd. (AMEX:GST) and (TSX:YGA) announced today an 82 percent increase in independently certified proved and probable (2P) natural gas reserves in the Narrabri coal seam gas project in New South Wales, Australia, where Gastar holds a 35 percent working interest in partnership with Eastern Star Gas (AX: ESG).

Independent estimates by Netherland Sewell & Associates, Inc. for 2P gas reserves in the Bohena Project Area of the PEL 238 license increased to 336 Bcf gross as of September 30, 2008, from 185 Bcf gross at December 31, 2007. Estimates of proved (1P) reserves – which follow Society of Petroleum Engineers guidelines – were unchanged, at 21 Bcf gross.

The increase in 2P certified natural gas reserves is based on results from only the first four coreholes drilled in the Dewhurst area, which demonstrated that the same thick, gas-saturated and highly permeable coals identified last year in the Bibblewindi corehole project also extend laterally into the Dewhurst area to the southeast.