Gastar Exploration Ltd. (GST) Reports Profit in Fourth Quarter Of 2009
Gastar Exploration Ltd. reported net income of $12.9 million, or $0.26 per share, in the fourth quarter of 2009. This was an improvement from the net loss of $10.0 million, or $0.24 per share, in the same quarter of 2008. Gastar Exploration Ltd. said that its net income was boosted in the fourth quarter of 2009 by a $17.8 million gain on the sale of its properties in Australia. In the fourth quarter of 2008, Gastar Exploration Ltd. recorded a $14.2 million non-cash charge for the impairment of natural gas and oil properties. Gastar Exploration Ltd. said that excluding these…