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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): May 16, 2007 (May 15, 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 2 - FINANCIAL INFORMATION

ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

         On May 15, 2007, Gastar Exploration Ltd. (the "Company") issued a press
release containing the results of operations for the three months ended March
31, 2007. A copy of the Company's press release, dated May 15, 2007, including
such information is included herein as Exhibit 99.1 hereto and is incorporated
by reference into, and is being furnished solely pursuant to, this Item 2.02.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(d)      Exhibits

         Exhibits (furnished pursuant to Item 2.02 and not deemed filed with the
Securities and Exchange Commission).

Exhibit No.                       Description of Document
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   99.1         Press release dated May 15, 2007 reporting results of operations
                for the three months ended March 31, 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:  May 16, 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
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  99.1          Press release dated May 15, 2007 reporting results of operations
                for the three months ended March 31, 2007.




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