HOUSTON, Nov. 4, 2011 /PRNewswire/ -- Gastar Exploration
Ltd. (NYSE Amex: GST) (the "Company") announced today that Gastar
Exploration USA, Inc., the
wholly-owned subsidiary of the Company, has declared a monthly cash
dividend on its 8.625% Series A Preferred Stock ("Series A
Preferred Stock") for November
2011.
The dividend on the Series A Preferred Stock is payable on
November 30, 2011 to holders of
record at the close of business on November
15, 2011. The November
2011 dividend payment will be an annualized 8.625% per
share, which is equivalent to $0.179688 per share, based on the $25.00 per share liquidation preference of the
Series A Preferred Stock. The Series A Preferred Stock is
currently listed on the NYSE Amex and trades under the ticker
symbol "GST.PRA."
About Gastar Exploration
Gastar Exploration Ltd. is an independent company engaged in the
exploration, development and production of natural gas and oil in
the United States. Our
principal business activities include the identification,
acquisition, and subsequent exploration and development of natural
gas and oil properties with an emphasis on prospective deep
structures identified through seismic and other analytical
techniques as well as unconventional natural gas reserves, such as
shale resource plays. We are pursuing natural gas exploration
in the Marcellus Shale in the Appalachian area of West Virginia and central and southwestern
Pennsylvania and in the deep
Bossier gas play in the Hilltop area of East Texas. We also conduct limited coal
bed methane development activities within the Powder River Basin of
Wyoming and Montana. For more information, visit our
web site at www.gastar.com.
Safe Harbor Statement and Disclaimer
This news release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Act of 1934, as amended.
A statement identified by the words "expects," "projects," "plans,"
and certain of the other foregoing statements may be deemed
forward-looking statements. Although the Company 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 news
release.
Contacts:
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Gastar Exploration
Ltd.
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J. Russell Porter, Chief
Executive Officer
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713-739-1800 /
rporter@gastar.com
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Investor Relations
Counsel:
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Lisa Elliott / Anne
Pearson
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DRG&L:
713-529-6600
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lelliott@drg-l.com /
apearson@drg-l.com
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SOURCE Gastar Exploration Ltd.