2009-08-19-2007-08-01-2007-08-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
0MM
Description

Farm-in

Gastar Exploration Ltd., Houston, (Amex: GST; TSX: YGA) has entered a farm-in with Sydney, Australia-based Eastern Star Gas Ltd. on properties in New South Wales. Gastar will earn a 35% working interest in PEL 433 and adjoining PEL 434 properties after paying the costs of a two core-hole program and related costs of the evaluation of the coal reservoirs intersected by the core-holes. Eastern Star will serve as operator of PEL 433 and PEL 434. PEL 433 is south of PEL 238 where Gastar and ESG are developing their Gunnedah Basin gas project. Eastern Gas is operator of PEL 238. Gastar president and chief executive J. Russell Porter says, "The addition of these two properties is a logical extension of our joint-venture activities on PEL 238. This agreement aligns both parties' joint-venture interests within PEL 238, PEL 433 and PEL 434 for coalseam-gas development in the Gunnedah Basin."