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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


 Date of Report (Date of earliest event reported): July 12, 2007 (July 12, 2007)


                             GASTAR EXPLORATION LTD.
             (Exact Name of Registrant as Specified in Its Charter)

      ALBERTA, CANADA                  001-32714                  38-3324634
(State or other jurisdiction    (Commission File Number)         (IRS Employer
    of incorporation)                                        Identification No.)


                          1331 LAMAR STREET, SUITE 1080
                              HOUSTON, TEXAS 77010
                    (Address of principal executive offices)

                                 (713) 739-1800
              (Regis trant's telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))


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SECTION 7 - REGULATION FD

ITEM 7.01 REGULATION FD DISCLOSURE.

     On July 12, 2007, Gastar Exploration Ltd. ("Gastar")  announced that it had
entered  into a Farm-In  Agreement  with  Eastern  Star Gas Limited  under which
Gastar will earn a 35% working  interest  in the PEL 433 and  adjoining  PEL 434
properties located in New South Wales, Australia.

     This press  release is  attached  as  Exhibit  99.1 and is being  furnished
solely pursuant to Item 7.01 of this report.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d)     Exhibits

        The following is a list of exhibits furnished as part of this Form 8-K:


Exhibit No.           Description of Document
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   99.1         Press release dated July 12, 2007.


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                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                        GASTAR EXPLORATION LTD.


Date: July 12, 2007                     /s/ J. RUSSELL PORTER
                                            ------------------------------------
                                            J. Russell Porter
                                            Chairman, President and Chief
                                            Executive Officer


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                                  EXHIBIT INDEX


Exhibit No.           Description of Document
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   99.1         Press release dated July 12, 2007.


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