================================================================================


                                  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 28, 2007 (March 27, 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))


================================================================================




SECTION 2 - FINANCIAL INFORMATION

ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On March 27, 2007, Gastar Exploration Ltd. (the "Company") issued a press
release containing the results of operations for the three months and year ended
December 31, 2006. A copy of the Company's press release, dated March 27, 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
-----------    -----------------------------------------------------------------

   99.1        Press release dated March 27, 2007 reporting results for the
               Company for the three months and year ended December 31, 2006.







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 28, 2007                 By:  /s/ J. RUSSELL PORTER
                                           --------------------------------
                                           J. Russell Porter
                                           Chairman, President and Chief
                                           Executive Officer





                                  EXHIBIT INDEX


Exhibit No.                            Description of Document
-----------    -----------------------------------------------------------------

   99.1        Press release dated March 27, 2007 reporting results for the
               Company for the three months and year ended December 31, 2006.