HOUSTON, May 10, 2018 /PRNewswire/ -- Gastar Exploration Inc.
(NYSE American: GST) ("Gastar") announced today that it has declared monthly cash dividends on its 8.625% Series A Preferred
Stock ("Series A Preferred Stock") and its 10.75% Series B Preferred Stock ("Series B Preferred Stock") for May 2018.
The dividend on the Series A Preferred Stock and Series B Preferred Stock is payable on May 31,
2018 to holders of record at the close of business on May 21, 2018.
The Series A Preferred Stock May 2018 dividend payment will be an annualized 8.625% per share,
which is equivalent to $0.1796875 per share, based on the $25.00 per
share liquidation preference. The Series A Preferred Stock is currently listed on the NYSE American and trades under the
ticker symbol "GST.PRA."
The Series B Preferred Stock May 2018 dividend payment will be an annualized 10.75% per share,
which is equivalent to $0.2239584 per share, based on the $25.00 per
share liquidation preference. The Series B Preferred Stock is currently listed on the NYSE American and trades under the
ticker symbol "GST.PRB."
About Gastar Exploration
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 in the United States.
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 the normally pressured oil window of the STACK Play, an area of central Oklahoma which is home to multiple oil and natural gas-rich reservoirs including the Oswego limestone,
Meramec and Osage bench formations within the Mississippi Lime, the Woodford shale and Hunton limestone formations. For more information, visit Gastar's website at www.gastar.com.
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 natural gas and oil drilling and production activities, including risks with
respect to continued low or further declining prices for natural gas and oil 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 our ability to integrate acquired assets with ours and to realize the anticipated
benefits from such acquisitions; and other risks described in Gastar's Annual Report on Form 10-K and other filings with the
United States Securities and Exchange Commission (the "SEC"), available at the SEC's website at www.sec.gov. Our actual sales production rates can vary considerably from tested initial production rates
depending upon completion and production techniques and our primary areas of operations are subject to natural steep decline
rates. 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.
Contacts:
Gastar Exploration Inc.
Michael A. Gerlich, Chief Financial Officer
713-739-1800 / mgerlich@gastar.com
Investor Relations Counsel:
Lisa Elliott / lelliott@dennardlascar.com
Dennard Lascar Investor Relations: 713-529-6600
View original content:http://www.prnewswire.com/news-releases/gastar-exploration-inc-declares-monthly-cash-dividends-on-8-625-series-a-preferred-stock-and-10-75-series-b-preferred-stock-300645971.html
SOURCE Gastar Exploration Inc.