Gastar Exploration Completes Bossier Pair

Gastar Exploration has completed the Donelson #3 and Wagner #1 deep Bossier wells. The Donelson #3 well has been completed in a single Bossier zone and placed on sales at an initial restricted gross rate of approximately 10.6 MMCFD and 11,300 psi flowing casing pressure on a 14/64ths' inch choke. The Wagner #1 well has also been completed in a single Bossier zone and has tested at an initial restricted gross sales rate of 7.25 MMCFD and 5,500 psi flowing casing pressure on a 14/64ths' inch choke. Both wells are producing at restricted rates due to temporarily high pipeline pressures downstream from Gastar's sales point. When these restrictions are removed, well tests indicate that both wells are capable of higher gross sales rates. At the current restricted rates, daily gross sales volumes in the Bossier have increased by approximately 85% with the addition of these two wells to sales. Gastar has a 67% working interest and an approximate 50.0% net revenue interest in the Donelson #3 well and a 50% working interest and an approximate 37.5% net revenue interest in the Wagner #1 well.

Commenting on the results and on-going operations, J. Russell Porter, Gastar's President & CEO, stated, 'These are excellent results especially considering that both completions are from single Bossier zones and both wells are currently unable to flow at their full potential due to higher than normal pipeline pressures in the area. We are finalizing plans to add additional Bossier completions to the Donelson #3 well over the course of the next several months as well as additional future completions at a later date in the Wagner #1 well. In addition, we are finalizing initial completion efforts on the John Parker #3 Knowles Limestone well, which has been delayed due to weather.'

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