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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UtHVXOMeukG+CbRx7BGsMhkSF12eSkcRG/K2ThfUTrPPwiXUoNWN3RecLay8EjjM
 VBH9UsRA/3TDnIKVzh0PyQ==

<SEC-DOCUMENT>0001181431-08-032201.txt : 20080516
<SEC-HEADER>0001181431-08-032201.hdr.sgml : 20080516
<ACCEPTANCE-DATETIME>20080516164230
ACCESSION NUMBER:		0001181431-08-032201
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080516
FILED AS OF DATE:		20080516
DATE AS OF CHANGE:		20080516

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GASTAR EXPLORATION LTD
		CENTRAL INDEX KEY:			0001170154
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				980570897
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1331 LAMAR STREET
		STREET 2:		SUITE 1080
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010
		BUSINESS PHONE:		7137391800

	MAIL ADDRESS:	
		STREET 1:		1331 LAMAR STREET
		STREET 2:		SUITE 1080
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Gerlich Michael A
		CENTRAL INDEX KEY:			0001348370

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32714
		FILM NUMBER:		08842866

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		713-739-1800

	MAIL ADDRESS:	
		STREET 1:		1331 LAMAR ST., SUITE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd207084.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001170154</issuerCik>
        <issuerName>GASTAR EXPLORATION LTD</issuerName>
        <issuerTradingSymbol>GST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001348370</rptOwnerCik>
            <rptOwnerName>Gerlich Michael A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1331 LAMAR ST., SUITE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77010</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer &amp; VP</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Bonus Stock Award (restricted share grant)</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-16</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2008-05-16</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>150000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.91</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>312500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The bonus stock award vest in three equal annual installments beginning 05/16/2010.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Michael A. Gerlich</signatureName>
        <signatureDate>2008-05-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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