Gastar Exploration Inc. Announces Record Date and Meeting Date for Special Meeting of Stockholders

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HOUSTON, March 20, 2017 /PRNewswire/ -- Gastar Exploration Inc. (NYSE MKT: GST) ("Gastar" or the "Company") announced today that it will hold a special meeting of stockholders on May 2, 2017 at which the Company's stockholders will consider and vote upon a proposal to approve the conversion rights of its Convertible Notes due 2022 issued to Ares Management, L.P. (the "Notes"), which such Notes will be convertible into common stock, par value $0.001 per share of the Company (the "Common Stock") or, in certain circumstances, cash in lieu of Common Stock or a combination of cash and shares of Common Stock. The proposal is being voted upon pursuant to the listing standards of the NYSE MKT stock exchange.

Company common stockholders of record as of the close of business on March 30, 2017, will be entitled to notice of, and to vote at, the special meeting, except, in accordance with NYSE MKT policy, holders of common stock issued to funds managed by affiliates of Ares Management, L.P. on March 3, 2017 will not be entitled to vote on the proposal. 

About Gastar

Gastar Exploration Inc. is a pure play Mid-Continent independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and natural gas liquids. Gastar's principal business activities include the identification, acquisition, and subsequent exploration and development of oil and natural gas properties with an emphasis on unconventional reserves, such as shale resource plays. Gastar holds a concentrated acreage position in what is believed to be the core of the STACK Play, an area of central Oklahoma which is home to multiple oil and natural gas-rich reservoirs including the Meramec, Oswego, Osage, Woodford and Hunton formations. For more information, visit Gastar's website at

Forward-Looking Statements

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 Exchange Act of 1934, as amended.  Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance.  A statement identified by the use of forward-looking words including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "will," "should," and certain of the other foregoing statements may be deemed forward-looking statements.  Although Gastar 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.  These include risks inherent in oil and natural gas drilling and production activities, including risks with respect to continued low or further declining prices for oil and natural gas that could result in further downward revisions to the value of proved reserves or otherwise cause Gastar to further delay or suspend planned drilling and completion operations or reduce production levels, which would adversely impact cash flow; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and continued low or further declining prices for oil and natural gas; risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; delays in receipt of drilling permits; risks relating to unexpected adverse developments in the status of properties; risks relating to the absence or delay in receipt of government approvals or third-party consents; risks relating to Gastar's ability to realize the anticipated benefits from acquired assets; and other risks described in Gastar's Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission ("SEC"), available at the SEC's website at   By issuing forward-looking statements based on current expectations, opinions, views or beliefs, Gastar has no obligation and, except as required by law, is not undertaking any obligation, to update or revise these statements or provide any other information relating to such statements.

Important Stockholder Information

The Company has agreed to use its reasonable best efforts to obtain on or before July 3, 2017 any and all stockholder approvals that would be required under the listing standards of The NYSE MKT to permit all of the Company's recently issued Notes to be converted into shares of Common Stock (the "Stockholder Approval"). In connection with the special meeting described herein, the Company expects to file a Preliminary Proxy Statement followed by a Definitive Proxy Statement with the SEC regarding the special meeting of stockholders and the proposal for Stockholder Approval.


The Preliminary Proxy Statement and the Definitive Proxy Statement, and any amendments or supplements and other relevant documents, will be available upon their filing free of charge through the website maintained by the SEC at or by calling the SEC at telephone number 1-800-SEC-0330. Free copies of these documents will also be made available after filing with the SEC from the Company's website at or by writing to Secretary, Gastar Exploration Inc., 1331 Lamar Street, Suite 650, Houston, Texas 77010.

Participants in the Solicitation

The Company and its directors and executive officers are deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the Stockholder Approval. Information regarding the Company's directors and executive officers is included, or incorporated by reference in, the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the SEC. Other information regarding the participants in such proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Preliminary Proxy Statement and the Definitive Proxy Statement.

Gastar Exploration Inc.
J. Russell Porter, Chief Executive Officer
713-739-1800 /

Investor Relations Counsel:
Lisa Elliott /
Dennard-Lascar Associates: 713-529-6600  


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SOURCE Gastar Exploration Inc.

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About Gastar Exploration Inc.

Gastar Exploration Inc. (NYSE American: GST) is engaged in the exploration, development and production of oil, condensate, natural gas and natural gas liquids in the United States. Specifically, Gastar is focused on the exploration and development of its Mid-Continent assets in the STACK Play in Oklahoma, which includes the Hunton Limestone, Meramec Shale/Mississippi Lime, Woodford Shale, and Osage and Oswego formations.  




  • Address: 1331 Lamar, Ste. 650, Houston, TX 77010

  • Phone: (713) 739-1800

  • Fax: (713) 739-0458

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