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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): March 5, 2007 (March 5, 2007)


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

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


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

                                 (713) 739-1800
              (Registrant'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 March 5, 2007,  the  Company  announced  completion  results on the John
Parker #2 in the deep Bossier gas play in East Texas.

     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
-----------       --------------------------------------------------------------
     99.1         Press release dated March 5, 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:  March 5, 2007                 By: /s/  J. RUSSELL PORTER
                                         ---------------------------------------
                                         J. Russell Porter
                                         Chairman, President and Chief Executive
                                         Officer

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                                  EXHIBIT INDEX

Exhibit No.                       Description of Document
-----------       --------------------------------------------------------------
  99.1            Press release dated March 5, 2007.


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