Exhibit 99.1

GASTAR EXPLORATION ANNOUNCES

FIRST QUARTER 2016 RESULTS

HOUSTON, May 5, 2016 - Gastar Exploration Inc. (NYSE MKT: GST) (“Gastar” or the “Company”) today reported financial and operating results for the three months ended March 31, 2016.

Net loss attributable to Gastar’s common stockholders for the first quarter of 2016 was $73.5 million, or a loss of $0.93 per share. Adjusted net loss attributable to common stockholders for the first quarter of 2016 was $17.7 million, or a loss of $0.22 per share, excluding the impact of a $48.5 million non-cash, pre-tax ceiling test impairment charge, a $6.5 million loss resulting from the mark-to-market of outstanding hedge positions and other special items.  This compares to a first quarter 2015 net loss of $3.0 million, or $0.04 per share, and first quarter 2015 adjusted net loss of $7.3 million, or $0.09 per share, excluding the impact of a $4.3 million gain resulting from the mark-to-market of outstanding hedge positions. (See the accompanying reconciliation of net loss to net loss excluding special items at the end of this news release.)

Adjusted earnings before interest, income taxes, depreciation, depletion and amortization (“adjusted EBITDA”) for the first quarter of 2016 was $10.7 million, a decrease of 47% compared to $20.0 million for the first quarter of 2015.  (See the accompanying reconciliation of net loss to adjusted EBITDA, a non-GAAP number, at the end of this news release.)

Revenues from the sale of oil, condensate, natural gas and natural gas liquids (“NGLs”), before the gain on commodity derivatives contracts, declined 40% to $14.5 million in the first quarter of 2016 from $24.1 million in the first quarter of 2015, and declined 18% from $17.8 million in the fourth quarter of 2015.  The reduction in oil, condensate, natural gas and NGLs revenues (excluding the impact of hedging activities) from the first quarter of 2015 to the first quarter of 2016 primarily resulted from a 43% decrease in weighted average realized equivalent prices slightly offset by a 6% increase in production equivalent volumes. The decrease from fourth quarter 2015 revenues was due to a 6%

decrease in production equivalent volumes combined with a 13% decrease in equivalent product pricing.

Revenues from liquids (oil, condensate and NGLs) represented approximately 72% of total production revenues in the first quarter of 2016, which was flat compared to the first quarter of 2015 and down from 84% in the fourth quarter of 2015.  We had hedges in place covering approximately 45% of our natural gas production, 27% of our oil and condensate production and 38% of our NGLs production for the first quarter of 2016.  Commodity derivative contracts settled during the period resulted in a $6.8 million increase in revenue for the first quarter of 2016, compared to a $6.0 million increase in revenue for the first quarter of 2015 and a $7.7 million increase in revenue for the fourth quarter of 2015.  During the first quarter of 2016, we monetized all of our put spread and other hedge positions covering the production months April through July 2016 for net proceeds of $3.1 million and subsequent to quarter end, we added costless collar hedge positions covering 1,500 barrels of oil per day for the same period.  We continue to maintain an active hedging program covering a portion of estimated future production, which is reported in our periodic filings with the U.S. Securities and Exchange Commission (“SEC”).

Average daily production for the first quarter of 2016 was 13,200 barrels of oil equivalent per day (“Boe/d”) (on a 6:1 gas (Mcf) to liquids (barrel) equivalent basis) as compared to 12,600 Boe/d in the first quarter of 2015 and 14,000 Boe/d in the fourth quarter of 2015. First quarter 2016 includes average daily production of 7,100 Boe/d attributable to our Appalachian Basin Properties, substantially all of which were recently sold.  Oil, condensate and NGLs as a percentage of production volumes were 56% in the first quarter of 2016 compared to 52% in the first quarter of 2015 and 56% in the fourth quarter of 2015.

J. Russell Porter, Gastar's President and CEO, commented, “The exceptionally poor price realizations for all of our first quarter 2016 production severely impacted our revenue and cash flow compared to a year ago, despite higher production volumes.  Oil prices have improved in the second quarter of 2016, however we plan to maintain our current limited capital expenditure plan for 2016 until we see sustained improvement in oil prices or substantially enhance our liquidity position.  Now that our second test of the Meramec Shale formation in the Mid-Continent STACK Play has been completed, our capital expenditures in 2016 will be focused on participating in select non-operated wells to further de-risk our acreage while preserving capital and maintaining our STACK Play leasehold position.”  

“We are encouraged by the early flow-back results of our recently completed Holiday Road 2-1H Meramec well in Kingfisher County, Oklahoma and the continued solid performance of our Deep River 30-1H well, our first operated Meramec Shale test well.  The Holiday Road 2-1H has only been on flow back since April 11, 2016, with oil production volumes slowly ramping up while continuing to

produce high volumes of completion fluids.  The movement of over 3,000 barrels per day of fluid should be an indication of strong reservoir characteristics.  We expect the well will reach peak initial production rates 60 to 90 days after the initial flow back operations began.”

“With the Appalachian Basin sale now complete and recent improvements in oil prices and equity markets, we have re-assessed whether additional Mid-Continent divestitures are prudent.  Accordingly, we have decided to withdraw our efforts to market a portion of our Mid-Continent acreage in Canadian and Kingfisher Counties, Oklahoma.  Our sales process was impacted by competing acreage that is further developed and de-risked being offered for sale by third parties.  In addition, future operated and non-operated drilling activity within and near our acreage could further de-risk our acreage position and define its value to potential buyers in the future.  We will re-evaluate additional potential asset divestitures at a later date.”

“We expect to have sufficient liquidity to make the upcoming May 2016 interest payment on our senior secured notes and carry out our remaining limited planned 2016 capital expenditure program,” concluded Mr. Porter.

The following table provides a summary of Gastar’s total net production volumes and overall average commodity prices for the three months ended March 31, 2016 and 2015:

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Lease operating expenses (“LOE”) were $6.1 million for the first quarter of 2016, compared to $6.0 million in the first quarter of 2015 and $5.3 million in the fourth quarter of 2015.  Compared to the

fourth quarter of 2015, LOE in the first quarter of 2016 was higher due to new Oklahoma operated wells and increased workover costs partially offset by lower ad valorem taxes.  LOE per barrel of oil equivalent (“Boe”) of production was $5.05 in the first quarter of 2016 versus $5.30 in the first quarter of 2015 and $4.09 in the fourth quarter of 2015, including workover costs.

Depreciation, depletion and amortization expense (“DD&A”) was $13.7 million in the first quarter of 2016, down from $14.5 million in the first quarter of 2015 and $16.9 million in the fourth quarter of 2015.  The DD&A rate for the first quarter of 2016 was $11.41 per Boe compared to $12.75 per Boe for the first quarter of 2015 and $13.19 per Boe in the fourth quarter of 2015.  The decrease in DD&A expense and DD&A rate was the result of lower depreciable costs resulting from prior ceiling impairments.  

General and administrative (“G&A”) expense was $5.7 million in the first quarter of 2016 compared to $4.2 million in the first quarter of 2015 and $3.7 million in the fourth quarter of 2015. G&A expense for the first quarter of 2016 included $1.6 million of non-cash stock-based compensation expense, versus $1.5 million in the first quarter of 2015 and $1.1 million in the fourth quarter of 2015.  Excluding stock compensation expense, $275,000 of non-recurring costs related to our Mid-Continent acquisition and $537,000 of severance costs primarily related to property divestments, cash G&A expense was $3.2 million in the first quarter of 2016, up from $2.7 million in the first quarter of 2015 and from $1.8 million in the fourth quarter of 2015 excluding $590,000 of non-recurring Mid-Continent acquisition costs and $310,000 of severance costs related to property divestments. Compared to the fourth quarter of 2015, first quarter 2016 cash G&A was up due to fourth quarter 2015 benefiting from reduced bonus expense adjustment and higher professional fees.

Operations Review and Update

Mid-Continent

The following table provides a summary of Gastar’s Mid-Continent production volumes and average commodity prices for the three months ended March 31, 2016 and 2015:

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Net production from the Mid-Continent area increased to an average of 6,100 Boe/d in the first quarter of 2016, compared to 5,900 Boe/d in the first quarter of 2015 and 6,200 Boe/d in the fourth quarter of 2015.  First quarter 2016 Mid-Continent production consisted of approximately 50% oil, 29% natural gas and 21% NGLs.   The sequential decline in oil production was primarily related to West Edmond Hunton Lime Unit downtime associated with weather and third party pipeline repair coupled with production losses associated to well pump repairs.

In late March 2016, we completed the Holiday Road 2-1H, which was our second well testing the Meramec formation on our Mid-Continent acreage.   The Holiday Road 2-1H was completed with a lateral length of approximately 4,300 feet and 34 frack stages using approximately 12 million pounds of proppant. The well commenced flow back on April 11, 2016.  Oil and natural gas production from the well is gradually increasing with a most recent 24-hour rate of 49 barrels of oil per day, 48 Mcf of natural gas per day and 2,734 barrels of completion fluids recovered per day.  Gastar has a 78.3% working (approximate 63.0% net revenue) interest in the Holiday Road 2-1H well.  

We have released the drilling rig to preserve liquidity as we focus our capital on recompletion activity and discretionary non-operated well participation while monitoring commodity prices.

In the Mid-Continent, our net capital expenditures in the first quarter of 2016 totaled $14.9 million, excluding other capitalized costs, comprised of $6.8 million for drilling and completions and $8.1 million for unproved acreage extensions and renewals.  For the remainder of 2016, our capital expenditure budget, excluding other capitalized costs, is $18.6 million, comprised of $6.6 million for drilling, completion and infrastructure costs and $12.0 million for lease renewal and extension costs.  Additionally, we have allocated $2.4 million for capitalized general and administrative costs.  Our

capital expenditure budget remains subject to change based upon the commodity price environment and our liquidity position.    

Appalachian Basin

The following table provides a summary of Gastar’s Appalachian Basin net production volumes and average commodity prices for the three months ended March 31, 2016 and 2015:

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As previously announced, on April 8, 2016, we completed the sale of substantially all of our producing assets and proved reserves and a significant portion of our undeveloped acreage in the Appalachian Basin.  After certain adjustments (including an adjustment for the assumption by the buyer of approximately $2.8 million in revenue suspense liabilities), cash proceeds from the Appalachian Basin Sale were approximately $76.6 million, subject to certain additional adjustments. 

Net production from the Appalachian Basin area averaged 7,100 Boe/d in the first quarter of 2016, compared to 6,800 Boe/d for the first quarter of 2015 and 7,800 Boe/d in the fourth quarter of 2015.

Appalachian Basin first quarter of 2016 equivalent production consisted of 58% natural gas, 7% oil and condensate and 35% NGLs.  

In Appalachia, our net capital expenditures in the first quarter of 2016 totaled $800,000, excluding other capitalized costs.

Liquidity

At March 31, 2016, Gastar had approximately $27.0 million in available cash and cash equivalents and $179.6 million in borrowings outstanding and $370,000 in letters of credit issued under its revolving credit facility.  Subsequent to quarter-end, on April 8, 2016, Gastar completed the sale of its Appalachian Basin assets for an adjusted sales price of $76.6 million, subject to certain additional adjustments including revenue suspense funds. In connection with the sale, the borrowing base of Gastar’s revolving credit facility was automatically reduced to $100.0 million as required by the credit agreement and the proceeds were used to reduce outstanding borrowings.  As of May 2, 2016, Gastar had approximately $20.4 million in available cash and cash equivalents and $99.6 million in borrowings outstanding and $370,000 in letters of credit issued under its revolving credit facility.

At March 31, 2016, we were in compliance with all financial covenants under the revolving credit facility. We may, however, need to request a waiver of compliance with, or amendment to, certain of our financial covenants by year-end 2016, which may not be received. The absence of such relief could result in significant adverse consequences and require us to pursue various alternatives.

Guidance for Second Quarter 2016

Our guidance for the second quarter of 2016 is provided in the table below and represents the Company's best estimate of the range of likely future results.   Guidance could be affected by the factors described below in "Forward-Looking Statements."

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(1)Based on equivalent of 6 thousand cubic feet (Mcf) of natural gas to one barrel of oil, condensate or NGLs.

Conference Call

Gastar has scheduled a conference call for 9:30 a.m. Eastern Time (8:30 a.m. Central Time) on Friday, May 6, 2016.  Investors may participate in the call either by phone or audio webcast.

For more information, please contact Donna Washburn at Dennard-Lascar Associates at 713-529-6600 or e-mail dwashburn@DennardLascar.com.

About Gastar Exploration

Gastar Exploration Inc. is an 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. In Oklahoma, Gastar is developing the primarily oil-bearing reservoirs of the Hunton Limestone horizontal play and is testing other prospective formations on the same acreage, including the Meramec Shale and the Woodford Shale, which is referred to as the STACK Play and emerging prospective plays in the shallow Oswego formation and in the Osage formation, a deeper bench of the Mississippi Lime located below the Meramec Shale. 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 natural gas and oil; risks regarding Gastar’s ability to meet financial covenants under its indenture or credit agreements or the ability to obtain amendments or waivers to effect such compliance; 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; borrowing base redeterminations by our banks; 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, Quarterly Report on Form 10-Q and other filings with 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.

Targeted expectations and guidance for the second quarter 2016 are based upon the current second quarter 2016 planned capital expenditures budget, which may be subject to revision and reevaluation dependent upon future developments, including drilling results, availability of crews, supplies and production capacity, weather delays, significant changes in commodities prices or drilling costs and our liquidity position.

Unless otherwise stated herein, equivalent volumes of production and reserves are based upon an energy equivalent ratio of six Mcf of natural gas to each barrel of liquids (oil, condensate and NGLs), which ratio is not reflective of relative value.  Our NGLs are sold as part of our wet gas subject to an incremental NGLs pricing formula based upon a percentage of NGLs extracted from our wet gas production.  Our reported production volumes reflect incremental post-processing NGLs volumes and residual gas volumes with which we are credited under our sales contracts.

- Financial Tables Follow –

GASTAR EXPLORATION INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

GASTAR EXPLORATION INC.

CONSOLIDATED BALANCE SHEETS

GASTAR EXPLORATION INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

NON-GAAP FINANCIAL INFORMATION AND RECONCILIATION

We use both GAAP and certain non-GAAP financial measures to assess performance.  Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.  Our management believes that these non-GAAP measures provide useful supplemental information to investors in order that they may evaluate our financial performance using the same measures as management.  These non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.  In evaluating these measures, investors should consider that the methodology applied in calculating such measures may differ among companies and analysts.  A reconciliation is provided below outlining the differences between these non-GAAP measures and their most directly comparable financial measure calculated in accordance with GAAP.

Reconciliation of Net Loss to Net Loss Excluding Special Items:

Reconciliation of Cash Flows before Working Capital Changes                                                      and as Adjusted for Special Items:

Reconciliation of Net Loss to Adjusted Earnings Before Interest, Income Taxes, Depreciation, Depletion and Amortization ("Adjusted EBITDA"):

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