8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  March 3, 2010 (March 3, 2010)

GASTAR EXPLORATION LTD.

(Exact Name of Registrant as Specified in its Charter)

ALBERTA, CANADA	001-32714	98-0570897
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1331 LAMAR STREET, SUITE 1080

HOUSTON, TEXAS 77010

(Address of principal executive offices)

(713) 739-1800

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECTION 7 – REGULATION FD

Item 7.01  Regulation FD Disclosure

On March 3, 2010, Gastar Exploration Ltd. (the “Company”) announced the status of drilling activities at the Company’s Donelson #4 well in the Hilltop area of East Texas.

In accordance with General Instruction B.2 of Form 8-K, the information presented herein under Item 7.01 and set forth in the attached Exhibit 99.1 is deemed to be  “furnished” solely pursuant to Item 7.01 of this report and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information or the Exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, each as amended.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01  Financial Statements and Exhibits

(d) Exhibits

The following is a list of exhibits furnished as part of this Form 8-K:

Exhibit No.	Description of Document
99.1	Press release dated March 3, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GASTAR EXPLORATION LTD.
Date:  March 3, 2010	By:	/s/ J. RUSSELL PORTER
		J. Russell Porter
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description of Document
99.1	Press release dated March 3, 2010.

EX-99.1

Exhibit 99.1

NEWS RELEASE

Gastar Exploration Ltd. J. Russell Porter, Chief Executive Officer 713-739-1800 / rporter@gastar.com   Investor Relations Counsel: Lisa Elliott / Anne Pearson DRG&E  : 713-529-6600 lelliott@drg-e.com / apearson@drg-e.com

For Immediate Release

Gastar Exploration Updates Donelson #4 Drilling Status

HOUSTON, March 3, 2010 – Gastar Exploration Ltd. (NYSE Amex: GST) announced today that the Donelson #4 well was drilled to a total depth of 19,000 feet; however, while addressing hole stability problems, the well experienced a significant gas kick and will have to be plugged back to approximately 18,100 feet and re-drilled to revised total depth of 18,700 feet.  This second sidetrack operation is expected to take four to six weeks and require approximately $1.0 million in gross additional costs.  The revised estimate of gross costs for the well is now $14 million to drill and complete.  Gastar has a 67% before payout working interest and approximate 50% before payout net revenue interest in the Donelson #4.

J. Russell Porter, Gastar’s President and CEO, commented, “We are encouraged since the Donelson #4 encountered several strong drilling breaks and gas shows in the targeted lower Bossier formations.  We have obtained certain log information that confirms the presence of the B5 sand and the top of the B6 sand, which are the sands producing in the offset Belin #1 and Donelson #3 wells.  While the additional costs and delays to re-drill a portion of the well will affect our first quarter 2010 production levels and capital expenditures, these deep Bossier wells provide the opportunity for excellent rates of return and prolific production levels.”

About Gastar Exploration

Gastar Exploration Ltd. is an exploration and production company focused on finding and developing natural gas assets in North America.  The Company pursues a strategy combining deep natural gas exploration and development with lower risk CBM and shale resource development.  The Company owns and operates exploration and development acreage in the deep Bossier gas play of East Texas and Marcellus Shale play in West Virginia and Pennsylvania.  Gastar’s CBM activities are conducted within the Powder River Basin of Wyoming.  For more information, visit our web site at www.gastar.com.

The NYSE Amex has not reviewed and does not accept responsibility for the adequacy of this release.

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