Message #18 From:
NewsBot Date: December 22, 2006 01:05:00 PM
GST News Gastar Exploration Updates Canadian Filings
HOUSTON--(BUSINESS WIRE)--Gastar Exploration Ltd. (AMEX:GST)(TSX:YGA) said today that it has filed
with the Canadian System for Electronic Document Analysis and Retrieval
(SEDAR) revised forms related to its oil and natural gas reserves as of
December 31, 2005. The forms were revised to provide additional
information to ensure compliance with Canadian National Instrument
51-101, “Standards of Disclosure for Oil and
Gas Activities”, as required by the Alberta
Securities Commission and the Toronto Stock Exchange. The revisions do
not include any changes to Gastar's previously reported reserves in any
of the reserve categories nor will the revised filings affect any of
Gastar’s filings with the U.S. Securities and
Exchange Commission. The Form 51-101F1, “Statement
of Reserves Data and Other Oil and Gas Information”,
revised Form 51-101F2, “Report of Reserve Data
by Independent Qualified Reserves Evaluator”,
and revised Form 51-101F3, “Report of
Management and Directors on Oil and Gas Disclosure”
for the year ended December 31, 2005 can be found for viewing by
electronic means on SEDAR at www.sedar.com.
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 controls exploration
and development acreage in the Deep Bossier gas play of East Texas and
in the deep Trenton-Black River play in the Appalachian Basin. Gastar’s
CBM activities are conducted within the Powder River Basin of Wyoming
and upon the approximate 3.0 million acres controlled by Gastar and its
joint development partners in Australia’s
Gunnedah Basin (PEL 238) and Gippsland Basin (EL 4416) located in the
states of New South Wales and Victoria, respectively.
Safe Harbor Statement and Disclaimer
This Press Release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. A statement identified by the words “expects",
"projects", "plans", and certain of the other foregoing statements may
be deemed forward-looking statements. Although Gastar believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that may
cause actual future activities and results to be materially different
from those suggested or described in this press release. These include
risks inherent in the drilling of natural gas and oil wells, including
risks of fire, explosion, blowout, pipe failure, casing collapse,
unusual or unexpected formation pressures, environmental hazards, and
other operating and production risks inherent in natural gas and oil
drilling and production activities, which may temporarily or permanently
reduce production or cause initial production or test results to not be
indicative of future well performance or delay the timing of sales or
completion of drilling operations; risks with respect to oil and natural
gas prices, a material decline in which could cause the Company to delay
or suspend planned drilling operations or reduce production levels; and
risks relating to the availability of capital to fund drilling
operations that can be adversely affected by adverse drilling results,
production declines and declines in natural gas and oil prices and other
risk factors described in the Company’s
Annual Report on Form 10-K, as filed on March 31, 2006 with the United
States Securities and Exchange Commission at www.sec.gov
and on the System for Electronic Document Analysis and Retrieval (SEDAR)
at www.sedar.com.
The American Stock Exchange and the Toronto Stock Exchange have not
reviewed and do not accept responsibility for the adequacy or accuracy
of this release.
