Energy Prospectus

Dan,
Your thoughts on the amended credit agreement? Thanks.

also interested almost sounds like they can trade debt for common shares????????????

I have no idea if they intend to do this, but an exchange of debt for common stock would improve balance sheet ratios and reduce interest expense. Of course, it would be dilutive for common stock holders. IMO this would be good news for those who own the preferred stock. - Dan

On December 22, 2015, Gastar Exploration Inc. (the "Company") entered into Amendment No. 6 to Second Amended and Restated Credit Agreement ("Amendment No. 6"), among the Company, as Borrower, Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swing Line Lender and Issuing Lender, and in its capacity as a Lender, and the other Lenders party thereto. Amendment No. 6 amended the Second Amended and Restated Credit Agreement (the "Credit Agreement") to permit the Company to exchange its outstanding notes constituting Second Lien Debt under the Credit Agreement for common equity interests in the Company.

A copy of Amendment No. 6 is attached as Exhibit 10.1 to this Form 8-K and incorporated herein by reference and is hereby filed. The description of Amendment No. 6 in this Form 8-K is a summary and is qualified in its entirety by reference to the complete text of such agreement.

Relationships

Certain parties to the Credit Agreement and Amendment No. 6, or their respective affiliates (collectively, the "Banks"), perform and have performed commercial and investment banking and advisory services for the Company from time to time for which they receive and have received customary fees and expenses. In addition, Wells Fargo Bank, National Association, is the trustee for the Company's 8 5/8% Senior Secured Notes due May 2018. The Banks may, from time to time, engage in transactions with and perform services for the Company in the ordinary course of their business, for which they will receive fees and expenses.