Gastar is currently drilling the Wagner #1 well, a Bossier test offsetting two successful Bossier wells drilled by ConocoPhillips and expects to reach total depth in approximately five days. Gastar is also currently drilling the Donelson #3 well, another Bossier test that offsets the earlier successful Donelson #1 well drilled by Gastar. The Donelson #3 well is expected to reach total depth in approximately 35 days.
Gastar's President and Chief Executive Officer, J. Russell Porter, commented, "Gross production from the Bossier area is continuing to grow with the recently announced completion of the John Parker #2, Williams #1 and Wildman Trust #2 wells. We expect a successful completion of the LOR #2 well will add to our production growth for the second quarter 2007 and continue the trend of economic Bossier completions."
Gastar Exploration Ltd. is an exploration and production company focused on finding and developing natural gas assets in North America and Australia. The Company pursues a balanced strategy combining select higher risk, deep natural gas exploration prospects with lower risk coal bed methane (CBM) development. The Company owns and operates exploration and development acreage in the Deep Bossier gas play of East Texas. Gastar's CBM activities are conducted within the Powder River Basin of Wyoming and upon the approximate 3.0 million gross acres controlled by Gastar and its joint development partners in Australia's Gunnedah Basin, PEL 238 in New South Wales and the Gippsland Basin in Victoria, Australia.
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