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                                  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 16, 2006
                                                  (November 14, 2006)


                             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))


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SECTION 2 - FINANCIAL INFORMATION

ITEM 2.02  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

         On November 14, 2006, the Company reported results of operations for
the three and nine months ended September 30, 2006. A copy of the Company's
press release, dated November 14, 2006, including such information is attached
as Exhibit 99.1 hereto and is incorporated herein 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

         The following is a list of exhibits filed as part of this Form 8-K:

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

     99.1                           Press release dated November 14, 2006.



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                                   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 16, 2006             By: /s/  J. RUSSELL PORTER
                                         -------------------------------------
                                         J. Russell Porter
                                         President and Chief Executive Officer


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                                  EXHIBIT INDEX

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

     99.1                       Press release dated November 14, 2006.