HOUSTON, April 3, 2012/PRNewswire/ -- Gastar Exploration Ltd. (NYSE Amex: GST) (the "Company") announced today that Gastar ExplorationUSA, Inc., the wholly-owned subsidiary of the Company, has declared a monthly cash dividend on its 8.625% Series A Preferred Stock ("Series A Preferred Stock") for April 2012.
The dividend on the Series A Preferred Stock is payable on April 30, 2012to holders of record at the close of business on April 13, 2012. The April 2012dividend payment will be an annualized 8.625% per share, which is equivalent to $0.179688per share, based on the $25.00per share liquidation preference of the Series A Preferred Stock. The Series A Preferred Stock is currently listed on the NYSE Amex and trades under the ticker symbol "GST.PRA."
About Gastar Exploration
Gastar Exploration Ltd. is an independent company engaged
in the exploration, development and production of natural
gas and oil in the United States. Our principal
business activities include the identification,
acquisition, and subsequent exploration and development of
natural gas and oil properties with an emphasis on
unconventional reserves, such as shale resource plays. We
are currently pursuing the development of liquids-rich
natural gas in the Marcellus Shale in the Appalachia area
of West Virginiaand, to a lesser extent,
central and southwestern Pennsylvania. We also
hold prospective acreage in the deep Bossier play in the
Hilltop area of East Texas. For more information,
visit our web site at www.gastar.com.
Safe Harbor Statement and Disclaimer
This news release includes "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Act of 1934, as amended. A statement identified
by the words "expects," "projects,"
"plans," and certain of the other foregoing
statements may be deemed forward-looking statements.
Although the Company 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 news release.
Contacts:
Gastar Exploration Ltd.
J. Russell Porter, Chief Executive
Officer
713-739-1800 / rporter@gastar.com
Investor Relations Counsel:
Lisa Elliott/ Anne
Pearson
DRG&L: 713-529-6600
lelliott@drg-l.com / apearson@drg-l.com
SOURCE Gastar Exploration Ltd.
distributed by | This press release was issued by Gastar Exploration Ltd. and was initially posted at http://www.gastar.com/releasedetail.cfm?ReleaseID=661433 . It was distributed, unedited and unaltered, by noodls on 2012-04-03 13:55:39 PM. The issuer is solely responsible for the accuracy of the information contained therein. |