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):  February 28, 2011 (February 28, 2011)

GASTAR EXPLORATION LTD.

(Exact Name of Registrant as Specified in its Charter)

ALBERTA, CANADA	001-32714	98-0570897
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer 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 February 28, 2011, Gastar Exploration Ltd. (the “Company”) announced that it and its joint venture partner, Atinum Marcellus I LLC (“Atinum”), have leased an additional approximate 3,300 gross (1,517 net) undeveloped acres in Marshall County, West Virginia to develop the Marcellus Shale formation in an area which the Company believes is prospective for natural gas with a relatively high content of natural gas liquids and condensate.  Under the joint venture agreement, the Company will pay 45% of the lease acquisition cost for a 50% interest.  Initial drilling and completion activities on this acreage will be eligible for the drilling carry that is a part of the previously announced joint venture between the Company and Atinum.  There are currently no proved reserves associated with this acquired acreage.

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 followingis a list of exhibits filed or furnished as part of this Current Report.

Exhibit No.	Description of Document
99.1	Press release dated February 28, 2011.

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:  February 28, 2011	By:	/s/  J. RUSSELL PORTER
		J. Russell Porter
		President and Chief Executive Officer

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EXHIBIT INDEX

Exhibit No.	Description of Document
99.1	Press release dated February 28, 2011.

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE	NEWS RELEASE
	Company Contact: Gastar Exploration Ltd. Michael Gerlich, Vice President and CFO 713-739-1800 / mgerlich@gastar.com Investor Relations Counsel: Lisa Elliott / Anne Pearson DRG&L: 713-529-6600 lelliott@drg-l.com/apearson@drg-l.com

Gastar Exploration Acquires Additional Marcellus Shale Acreage

in Liquids-Rich Area of West Virgina

HOUSTON, February 28, 2011 – Gastar Exploration Ltd. (NYSE Amex: GST) today announced that it and its joint venture partner, Atinum Marcellus I LLC (“Atinum”), have leased an additional approximate 3,300 gross acres in Marshall County, West Virginia to develop the liquids-rich Marcellus Shale formation.  Under the joint venture agreement, Gastar will pay 45% of the lease acquisition cost for a 50% interest.  Initial drilling and completion activities on this acreage will be eligible for the drilling carry that is a part of the previously announced joint venture between Gastar and Atinum.

The acreage is located at PPG Industries’ Natrium, West Virginia chemicals site along the Ohio River and provides excellent access to water and natural gas infrastructure.  As operator, Gastar expects to begin drilling during the second half of 2011 and has identified as many as 30 locations to be drilled over the next several years.

J. Russell Porter, President and Chief Executive Officer, stated, “We are pleased to add PPG’s acreage to our Marcellus portfolio, and we look forward to getting operations underway later this year.  This lease, when combined with our existing leasehold in Marshall and Wetzel counties, helps Gastar create a large and mostly contiguous block of acreage within an area that is ultra-rich in natural gas liquids and condensate yields."

About Gastar Exploration

Gastar Exploration Ltd. is an exploration and production company focused on finding and developing oil and natural gas assets in North America. The Company currently pursues a strategy combining deep natural gas exploration and development with lower risk 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. The Company also owns coalbed methane properties located in the Powder River Basin of Wyoming. For more information, visit our web site at www.gastar.com.

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