Gastar Exploration Investor Presentation at Johnson Rice Energy Conference - Sept 30, 2013

© 2013 Gastar Exploration Ltd.

E X P A N D I N G O U R H O R I Z O N S

J. Russell PorterChief Executive Officer

September 2013


Forward-Looking Statements

2

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF“SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This presentation of Gastar Exploration Ltd. contains forward-looking statements relating to Gastar’s operations that are based on management’scurrent expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words such as “anticipates,”“expects,” “intends,” “plans,” “targets,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “budgets” and similar expressions are intended toidentify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertaintiesand other factors, some of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differmaterially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oiland natural gas prices; changing refining, marketing and chemical margins; actions of competitors or regulators; timing of exploration expenses;timing of crude oil liftings; the competitiveness of alternative-energy sources or product substitutes; technological developments; the results ofoperations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gasdevelopment projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of thecompany’s net production or manufacturing facilities or delivery/transportation networks due to war, accidents, political events, civil unrest, severweather or crude oil production quotas that might be imposed; the potential liability for remedial actions or assessments under existing or futureenvironmental regulations and litigation; significant investment or product changes under existing or future environmental statutes, regulations andlitigation; the potential liability resulting from other pending or future litigation; the company’s future acquisition or disposition of assets and gains andlosses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscalterms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; the effects of changed accountingrules under generally accepted accounting principals promulgated by rule-setting bodies; and the factors set forth under the heading “Risk Factors” onpages 23 through 35 of the company’s 2012 Annual Report on Form 10-K. In addition, such statements could be affected by general domestic andinternational economic and political conditions. Unpredictable or unknown factors not discussed in this presentation could also have material adverseeffects on forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements except asrequired by law.

Estimates of Hydrocarbons. Certain terms, such as “resources,” “resource potential,” and “EUR,” or “estimated ultimate recovery,” and similarterms, may be used in this presentation to describe certain oil and gas hydrocarbon quantities that are not permitted to be used in filings with the U.S.Securities and Exchange Commission. These estimates are by their nature more speculative than estimates of proved reserves and accordingly aresubject to substantially greater risk of being actually realized by the company. Estimates of EURs in this presentation were made internally by thecompany after evaluation of limited production histories of wells drilled recently in the play by other operators. Horizontal drilling in the Huntonformation in this area is a relatively new play with a limited production history and, as a result, such estimates may be subject to more uncertaintiesthan those in more established plays. Individual well reserves will vary and such estimates may prove to be incorrect.


Gastar Overview

3

Listed on the NYSE MKT: GST $260 million market capitalization(1)

$531 million enterprise value(2)

61.6 million shares outstanding(3)

Focus in two areas Marcellus Shale in liquids-rich window of West Virginia

Emerging Oklahoma Hunton Limestone oil play

Organic growth strategy through the drillbit 74% of 2013 capex (excluding acquisitions) allocated

to drilling

Enhanced by recently announced WEHLU acquisition

Track record of adding proved reserves and creating

value 248.9 Bcfe with a 14.0 R/P(4)

Reserve growth of 395% over last 3 years

PV-10 value $431.8 million using 6/30/13 NYMEX curve

(1) Market capitalization at September 24, 2013(2) Enterprise value at September 24, 2013; includes preferred shares of $99.0 million face value(3) Reflects 6.8 million shares repurchased as part of CHK transaction(4) Based on June 30, 2013 reserve report


East TX27.4 Bcfe

11%

Appalachia206.2 Bcfe

83%

Mid-Continent15.3 Bcfe

6%

East TX10.3

MMcfe/d21%

Appalachia36.4

MMcfe/d74%

Mid-Continent

2.4MMcfe/d

5%

Asset Overview

4

June 30, 2013 Proved Reserves by Region

YTD 2013 Net Production by Region

Total 176,300net acres(1)(2)

(1) Net acres as of 6/30/2013; excludes 2013 Marcellus West - Pennsylvania expirations and non-core OK sale and JV partner election acreage

(2) Net acres as of 6/30/2013 ; includes 16,600 net acres in East Texas

Marcellus ShaleRich Gas Play63,300 net acres(1)

Houston HQ

49.1 MMcfe/d

248.9 Bcfe

Hunton Limestone Oil Play96,300 net acres(1)


Historical Reserve Growth

5

Proved Reserves

2012 proved reserve F&D cost of $1.97 per Mcfe

% of high-value liquids expected to increase substantially in 2013-2014

59% 66%50%

63%

65%

14% 18%

15%

7%

4%

27% 17%

34%

30%

31%

0.0

50.0

100.0

150.0

200.0

250.0

300.0

2009 2010 2011 2012 YTD 2013

Bcf

e

PDP PDNP PUD

99.2% 99.3%

77%

72%

70%

0.8% 0.7%

23%

28%

30%

0.0

50.0

100.0

150.0

200.0

250.0

300.0

2009 2010 2011 2012 YTD 2013

Bcf

e

Gas Liquids


Historical Production

6

Total Daily Production

YTD 2013 Marcellus production constrained by ~29% due

to third-party pipeline & processing issues

99.2% 95%

80%

72%

2%

8%

14%

0.8%

3%

12%

14%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

2010 2011 2012 YTD 2013

MM

cfe

/d

Gas Condensate & Oil NGLs


278

809

1,680 1,753

2,831

167

1,221

2,295

0.0

500.0

1000.0

1500.0

2000.0

2500.0

3000.0

4Q11 1Q12 4Q12 1Q13 2Q13 2011 2012 YTD 2013

Bar

rels

of

Liq

uid

s/d

ayAccelerating Liquids GrowthDriving Stronger Economics

7

New Hunton Oil Play Exposes GST to Additional Oil Production & Reserves


100% of drilling and completion coststarget liquids-rich wells

74% of 2013 planned capital dedicated todrilling (excluding acquisition costs)

Excludes $187.5 million WEHLU acq.

Aggressively Shifting Capital to Liquids

8

$193 million

2013 Capital Investment

(1) Includes capitalized interest and G&A costs.

($ in millions)

Area Capital

Marcellus $60

Mid-Continent 56

Mid-Continent Acquisition 69

East Texas 2

Capitalized Costs (1) 6

Total $193

Marcellus$60MM

31%

East Texas$2MM

1%Mid-Continent$56MM

29%

Mid-ContinentAcquisition

$69MM36%

Capitalized Costs &Other$6MM

3%


Field and

Development

Overview


Marshall & Wetzel Counties, W. Va. JV partner Atinum

19,400 net JV acres

Focus area with ultra liquids-rich

gas

Utica potential being tested in the

immediate area

Marcellus East, W. Va. 49,000 net acres – dry gas

100% WI, 80% NRI

Strong Position in the Marcellus Shale

10

Near-term activity concentrated in highly prospective liquids-rich portion of the play

o Marshall & Wetzel Countieso Marcellus East

63,300 net acres with Marcellus exposure(1)

(1) As of 6/30/2013; excludes 2013 Marcellus West - Pennsylvania expirations


Liquids-Rich Window ofMarshall & Wetzel Counties

11

High Btu gas and condensate yields

30-40 Bbls/MMcf condensate

40-50 Bbls/MMcf NGLs

57 gross horizontal Marshall County

wells on production as of August

2013

$60 million capital budget for 2013

57 net (113 gross) additionalhorizontal wells planned in Marshalland Wetzel Counties on existingacreage for 2014 and beyond with JVpartner

Testing tighter spacing andenhanced reservoir evaluation andstimulation to potentially increase IPrates, EURs and number of drillinglocations

Active development program

Williams Pipeline

Marshall CountyDevelopment Area

Tax Districts w/Acreage


Field and Development Overview –Marcellus West

12


Marcellus West Economics

13

6.7 Bcfe EUR

Daily Peak Rate3.5 MMCFD & 175 BCPD

65% Gas (processed)

35% Liquids

39% IRR(1)

Cost $6.7MM (5000’ lateral)

$1.18/MMcfe F&D Costs

PV10 $7.8 million per well

(1) Based on Wright & Company, Inc. reserve report and the NYMEX futurescurve on August 11, 2013.


Marcellus West – Operated Drilling Overview

14

Gastar has completed 57 gross wells as of today

0.0

10.0

20.0

30.0

40.0

50.0

Marcellus West Historical Daily Production

(MMcfe/d)

66% 69% 67% 67% 66% 67%

11% 11% 11% 14% 15% 13%

23% 20% 22% 18% 19% 19%

0%

20%

40%

60%

80%

100%

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Gas Condensate and Oil NGLs

Marcellus West Production Mix

(1) Average well lateral length approximates the actual average well lateral length for the pad wells.(2) Reserves based on 6/30/13 SEC reserve report by Wright.

Pad

Gross Well

Count

Working

Interest

Net Revenue

Interest

Avg. Lateral

Length (ft.)(1)

Avg. Well Cost

($ 000's)

Date of First

Production

Avg. EUR/Well

(Bcfe)(2)

% Liquids

Corley 4 40.8% 35.4% 4,700 $7,770 Dec-11 5.3 28.7%

Simms 3 50.0% 43.2% 4,900 $8,160 Dec-11 8.0 31.2%

Hall 3 40.0% 34.7% 4,300 $6,156 Jan-12 7.2 29.6%

Hendrickson 5 40.0% 34.7% 4,600 $6,856 Apr-12 6.6 31.8%

Accettolo 3 50.0% 40.2% 4,600 $7,084 Jun-12 5.3 35.3%

Burch Ridge 5 50.0% 41.5% 5,500 $7,685 Aug-12 8.0 31.6%

Wayne 4 50.0% 40.6% 5,000 $7,321 Sep-12 5.6 34.3%

Wengerd 7 44.5% 37.7% 4,900 $8,188 Nov-12 6.0 31.7%

Lily 4 50.0% 40.6% 5,300 $6,609 Dec-12 6.6 35.8%

Shields (1-5) 5 50.0% 41.5% 3,000 $5,230 Feb-13 6.9 39.5%

Addison 5 50.0% 41.7% 5,000 $6,780 Mar-13 5.4 31.3%

Shields (6-10) 5 50.0% 41.5% 3,700 $5,440 May-13 5.4 39.5%

Goudy 4 50.0% 39.9% 6,000 $7,000 Aug-13 7.5 31.8%

Total 57 4,731 $6,945 6.4 33.8%

Historical Operated Marcellus West Drilling Results


Pad Drilling Drives Attractive Economics

15

Average drilling time reduced to ~ 16 days per well

Additional savings being realized on completion costs


Utica Activity aroundMarshall & Wetzel Counties

16

The Utica/Point Pleasant formation

underlies GST’s Marcellus West

position

Five operators currently drilling

Utica wells that matter to GST

Dry gas

Approximately 100 gross GST Uticalocations at 8 to 10 BCF recoverableper location

Estimated $10 million per well D&C

800 Bcf to 1 TCF of gross Uticaresource underlying a successfuland highly profitable MarcellusShale development

Planning initial test in 2014 drillingprogram

Offset Utica Activity

Williams Pipeline

Marshall CountyDevelopment Area

Tax Districts w/Acreage

XTO

ChevronGulfport

Eclipse

Triad Hunter

Permitted

Commenced Drilling

XTO


New Oklahoma Hunton Limestone Play

17

Exposure to over 100 MMBOE of netresource potential, primarily oil

Very encouraging early drilling results

Play further de-risked by partner’s recentactivity and historic vertical production inthe area

CHK acquisition and subsequent non-corelease sale significantly lower GST financialrisk

Current lease position – approximately96,300 net acres

WEHLU acquisition will add 2,000 BOE/Dplus numerous low-risk developmentdrilling locations


Hunton Acreage

18

Undeveloped acreageexpands inventory ofprospective low-cost, high-return drilling locations


Overview of Transactions

19

CHK Acquisition

Acquired 157,000 net acres and 3.0 MMBOE proved reserves for $69 million

Acquired 6.8 million GST common shares at $1.44 per share ($9.8 million)

$1 million allocated to litigation resolution

Closed June 7, 2013

Partner AMI Election

Sold 12,800 net undeveloped acres and 0.4 MMBOE proved reserves for$12.1 million

Closed July 1st, 2013

Non-Core Sale

Sold 76,000 net undeveloped acres for $62 million

To close August 6th, 2013

Summary

GST acquired 68,200 additional undeveloped acres and 2.6 MMBOE provedreserves for no outlay of cash; and

GST executed a 10% stock buy back at a 42% discount to market


Overview of Transactions (cont’d)

20

WEHLU Acquisition

Strategic and operational fit with considerable upside

Acquiring 11.1 million proven BOE producing 2,078 BOE/D for $187.5 million

24,000 HBP acres with 62 identified upper Hunton PUD’s limited to only7,000 acres

Over 100 additional drilling locations for the upper and lower Hunton

Scheduled to close late November 2013


WEHLU Acquisition

21

Encouraging Initial Results


AMI Horizontal Well Activity

22

Encouraging Initial Results


CountyFirst

Production

Most Recent10 Day

Average(BOE/D)(1)

Mid-Con 1H Kingfisher 10/05/12 32


Mid-Con 3H Garfield 04/04/13 81


Mid-Con 5H Kingfisher 08/28/13 310(2)

Hunton Oil Play Well Data

23

Gastar’s Wells in Existing AMI:

CountyFirst

ProductionIP or Peak

Rate (BOE/D) EUR (MBOE)

First 6 wells avg. Logan 2010 342 226

Last 7 wells avg. Logan / Kingfisher 2011-2013 645 436

Recent JV Partner Hunton Wells Outside of AMI:

(1) As of September 4, 2013(2) September 12th rate. Well flowing from 8 of 20 stages with mechanicalrestrictions due to stuck coil tubing


Hunton Acreage

24

Initial operateddrilling will testoverall acreageposition for Huntonprospectivity


Lower Hunton Horizontal Oil Play Economics

436 MBOE EUR

Peak daily Rate 400 BO &1,250 MCF

35% Gas (processed; 57% unprocessed)

65% Liquids

73% IRR(1)

Cost $5.2MM (4,200’ lateral)

$15.36/BOE F&D Cost

PV10 $5.5 million per well(1) Based on results of last 7 wells of JV partner and the NYMEX futurescurve on August 11, 2013.

25


WEHLU Bois d’Arc Horizontal Economics

123 MBOE EUR

Peak Daily Rate 165 BO &231 Mcf


88% Liquids

61% IRR(1)

Cost $2.3MM (3500’ lateral)

$22.79/BOE F&D Cost

PV10 $1.9 million per well(1) Based on Wright & Company, Inc. reserve report and NYMEX futures

curve on August 11, 2013.

26


WEHLU Chimney Hill Horizontal Economics

250 MBOE EUR

Peak daily rate 340 BO &1360 MCF


75% Liquids

53% IRR(1)

Cost $4.5MM (4,200’ lateral)

$21.98/BOE F&D Cost

PV10 $3.2 million per well(1) Based on Wright & Company, Inc. reserve report and NYMEX futures

curve on August 11, 2013.

27


Preliminary Hunton Drilling Plan (Excludes WEHLU activity)

28

2013 10 total wells

6 gross (3 net) within existing AMI (non-operated)

3 gross (3 net) on new acreage (operated)

1 gross (0.8 net) on new acreage (non-operated)

2014 19 total wells

8 gross (4 net) within existing AMI (non-operated)

11 gross (11 net) on new acreage (operated)

Net Drilling Locations ~210 net locations in retained acreage

65 net locations on existing AMI

Exposure to over 100 MMBOE net resource potential


Financial Overview


Assets

Balance Sheet

30

($ in millions)

Liabilities and Shareholders’ Equity

June 30, 2013

Cash and cash equivalents 10.8

Other current assets 14.0

Total current assets 24.8

Total property, plant and equipment, net 419.8

Other assets 5.6

Total assets 450.2

Current portion of debt -

Other current liabilities(1) 81.2

Total current liabilities 81.2

Long-term debt 194.6

Other long-term liabilities 8.5

Preferred stock of subsidiary 76.8

Common shareholders' equity 89.1

Total liabilities and shareholders' equity 450.2

$

$

$

$

(1) Includes $30.4 million of advances from non-operators


Issuer: Gastar Exploration USA, Inc.

Coupon: 8.625%

Maturity: May 15, 2018. Two-year non call provision.

Guarantees: Fully and unconditionally guaranteed by the Company and certain existing and futurewholly-owned domestic restricted subsidiaries

R/C Facility: $50 million undrawn revolving credit facility that expands as a percentage of ACNTA

Ranking: The Notes and the guarantees will rank senior in right of payment to all of theCompany’s and the guarantors’ future subordinated indebtedness and equal in right ofpayment with all of the Company’s and the guarantors’ existing and future seniorindebtedness, and effectively junior to the Company’s and the guarantors’ obligationsunder the Company’s new revolving credit facility.

Security: The Notes and the guarantees will be secured by a lien on substantially all of theCompany’s and the guarantors’ proved and probable reserves and certain other assets,subject to certain exceptions; provided, however, that pursuant to the terms of anintercreditor agreement, the security interest in those assets that secure the Notes andthe guarantees will be contractually subordinated to liens thereon that secure the new$50 million revolving credit facility and certain other permitted indebtedness.

31

Issued on May 15, 2013 at par

$200 million Senior Secured Notes


Issuer: Gastar Exploration USA, Inc.Symbol: NYSE MKT: GST.PRAGuarantor: Gastar Exploration Ltd.

Annual Rate: 8.625%Face Value: up to $100,000,000 (4,000,000 shares)

Guarantee: Gastar Exploration Ltd. will fully and unconditionally guarantee the payment ofdividends that have been declared by the board of directors of Gastar Exploration USA,Inc., amounts payable upon redemption or liquidation, dissolution or winding up, or anyother amount due.

Dividends: Holders are entitled to receive cumulative cash dividends of 8.625% per annum of the$25.00 liquidation preference per share ($2.16 per annum per share). Dividends will bepayable monthly in arrears on the last day of each calendar month.

Tax Treatment: Distributions will be treated as dividends to the extent of Gastar’s current andaccumulated earnings and profits as determined under the U.S. Tax Code. Any portionof the distributions that exceeds Gastar’s current and accumulated earnings and profits(currently anticipated to be 100% of future distributions) will first be applied to reduce aU.S. holder’s tax basis in the Series A Preferred Securities.

32

$99.0 million issued to date(1)

(1) Face value composed of 3,958,160 shares sold as of June 30, 2013 at $25 face value.

8.625% Cumulative Preferred Stock

© 2013 Gastar Exploration Ltd. 33

Strong Collateral Coverage

Collateral Coverage

$431.8

$200.0

$431.8

$109.0

$0

$100

$200

$300

$400

$500

$600

New Senior Secured Notes Proved PV-10(1) Proved PV-10(1) + Undeveloped Acreage(2)

$189.2 millionNet Debt(3)

$540.8

PV-10 / Total Debt: 2.2x 2.7xPV-10 / Net Debt: 2.3x 2.9x

(1) Based on 6/30/13 NYMEX reserve report(2) Excludes $43.7 million gain on acquisition of assets at fair value(3) Before sales proceeds from East Texas and Hunton non-core divestitures


$398.8

$200.0

$398.8

$51.8

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

New Senior Secured Notes Proved PV-10(1) Proved PV-10(1) + Undeveloped Acreage(2)

34

Strong Collateral Coverage – Pro Forma

Collateral Coverage

$91.6 millionNet Debt(3)

$450.6

PV-10 / Total Debt: 2.0x 2.2x

(1) Based on 6/30/13 NYMEX reserve report; excludes East Texas(2) Excludes $43.7 million gain on acquisition of assets at fair value; includes impact of Hunton non-core divestiture(3) After sales proceeds from East Texas and Hunton non-core divestitures, net

PV-10 / Net Debt: 4.4x 4.9x

© 2013 Gastar Exploration Ltd. 35

(1) SEC and NYMEX reserves and PV-10 figures based on 06/30/13 third-party reserve report.(2) Excludes $43.7 million gain on acquisition of assets at fair value.(3) Includes adjustment for Williams downtime.

Financial OverviewCredit Statistics

Credit Statistics

($ in millions) June 30, 2013 (1)

Total Debt 200.0$

Net Debt 189.2

LTM Adjusted EBITDA (2) 53.0

LTM Normalized Adjusted EBITDA(2) (3)

66.2

Total Proved Reserves - NYMEX (Bcfe) 257.7

Total Proved PV-10 - NYMEX 431.8$

Total Proved Reserves - SEC (Bcfe) 248.9

Total Proved PV-10 - SEC 324.1$

Undeveloped Acreage Value (2) 109.0$

Total Asset Value - NYMEX 540.8$

Total Asset Value - SEC 433.1

Total Debt / Normalized Adjusted EBITDA 3.0x

Net Debt / Normalized Adjusted EBITDA 2.9x

Normalized Adjusted EBITDA / Total Interest Expense 3.8x

Normalized Adjusted EBITDA / (Total Interest Expense + Preferred Equity Dividends) 2.6x

Total Net Debt / Total Proved Reserves ($ / Bcfe) 0.73$

Total Asset Value - NYMEX / Net Debt 2.9x

Total Asset Value - SEC / Net Debt 2.3x

Year to Date as of


Natural Gas as of September 24, 2013

Hedging Program

36

[VALUE] NYMEX SWAP $3.89


[VALUE] NYMEX SWAP 4.03


[VALUE] $5.00/$6.45 Collar[VALUE] $4.05/$3.79 Prot. Spread

[VALUE] $3.88/$3.00/$4.533way

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2013 2014 2015 2016

Gas Hedging Strategy MMbtu per day

Swap Collar Protective Spread 3-Way

29,381 MMbtu/d

21,636 MMbtu/d

5,500 MMbtu/d

2000 MMbtu/d


Crude Oil and NGLs as of September 24, 2013

Hedging Program (cont’d)

37

[VALUE]/d $97.70 WTI Swap

[VALUE]/d $92.68 WTI Swap

[VALUE] /d $39.88 Propane Swap

[VALUE]/d $98 collar

[VALUE]/d $85/$67.37/$97.00 3way[VALUE]/d $82.27/$65/$96.33 3way[VALUE]/d $80/$62.68/$97.92 3way

-

500

1,000

1,500

2,000

2,500

3,000

2013 2014 2015 2016 2017

Liquids Hedging Stategy Barrels per day

WTI Swap Propane Swap Collar 3-Way

2,635 Bpd

1,668 Bpd

845 Bpd

605 Bpd522 Bpd


Hedge Percentages as of September 24, 2013

Hedging Program (cont’d)

38


Summary

39

Well positioned for reserve & production growthwith strong economics in 2013 & beyond

2013 production projected to grow materially over 2012 High-value liquids production expected to increase vs last year

Hunton oil play further enhances overall drilling economics

74% of planned capex allocated to drilling in 2013

Early mover with sizeable acreage positions in two oil / NGL plays 2013 capex focused primarily on liquids-rich Marcellus acreage

New Mid-Continent Hunton oil play focus expanding in 2014

Strong inventory of repeatable, low-cost, high-return drilling

locations in both core areas Estimated 113 undrilled locations in Marcellus West

Total of 380 locations in Mid-Continent post-WEHLU acquisition

Strong track record of adding reserves and creating value 248.9 Bcfe of proved reserves with a 14.0 R/P

Reserves growth of 395% over last 3 years


Gastar Exploration is an independent energy company engaged in the exploration, development andproduction of natural gas and oil in the U.S. Our principal business activities include the identification,acquisition, and subsequent exploration and development of natural gas and oil properties with anemphasis on unconventional reserves, such as shale resource plays.

Publicly Traded Securities CUSIP TickerCommon Stock 367299203 GST

8.625% Cumulative Preferred Stock (Series A) 36729P207 GST.PRA

Investor Contacts

J. Russell PorterPresident and Chief Executive Officer

(713) [email protected]

Michael A. GerlichVice President and Chief Financial Officer

(713) [email protected]

Gastar Exploration Ltd.

40


Q&A




Gastar Exploration Investor Presentation at Johnson Rice Energy Conference - Sept 30, 2013

News & Politics

forwardlooking statements

future crude oil

future litigation

certain oil

future events

estimates of eurs

estimates of hydrocarbons

companys future acquisition