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):
                      November 7, 2007 (November 7, 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 November 7, 2007, Gastar Exploration Ltd. (the "Company") issued a
press release containing the results of operations for the three and nine months
ended September 30, 2007. A copy of the Company's press release, dated November
7, 2007, including such information is included herein as Exhibit 99.1 hereto
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 November 7, 2007 reporting results of
              operations for the three and nine months ended September 30, 2007.



                                   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:  November 7, 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 November 7, 2007 reporting results of
              operations for the three and nine months ended September 30, 2007.