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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):
                      December 12, 2006 (December 12, 2006)


                             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 December 12, 2006, the Company announced successful results from the
John Parker #2 well 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
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   99.1        Press release dated December 12, 2006.


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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: December 12, 2006                      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 December 12, 2006.


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