Gastar Exploration Announces Sale of Australian Assets for $240 Million

<< Also Announces 1-for-5 Reverse Share Split and Voluntary De-Listing from the Toronto Stock Exchange >>

Gastar Exploration Ltd. (NYSE Amex: GST and TSX: YGA) announced today that it has entered into definitive agreements with Santos QNT Pty Ltd and Santos International Holdings Pty Ltd, affiliates of Santos Ltd (ASX: STO) for the sale of all of Gastar's interest in Petroleum Exploration Licenses 238, 433 and 434 in New South Wales, Australia, along with the sale of the shares of Gastar Power Pty Ltd, the entity holding Gastar's 35% interest in the Wilga Park Power Station. Gross pre-tax proceeds from the transaction are expected to be approximately US $240 million (AU $300 million). Upon final closing, Gastar's net proceeds, after payment of Australian income taxes, is expected to be approximately US $175 million (AU $219 million).

Come On ... Who Sells Dollars Ahead of July 4th?

By the looks of it, traders might actually be respecting the holiday commemorating US Independence. The dollar is positive on the day so far.

Over the last week or so the currencies have struggled to carve out any sustained direction – the moves have amounted mostly to a whole bunch of sideways chop.

But the upshot of range-trading is that it often sparks sustained moves, in one direction or another, that can more clearly be targeted for potential profit.

Which way will we come out of this? Obviously, that remains to be seen.

The US equities markets have opened up today putting pressure on the greenback but these stocks gains could not hold as the disappointing release of June US consumers confidence survey is still in the investors' minds and is not out of the current market sentiment affecting negatively on the risk appetite. Dow could just keep 57 points of gains at its closing.

US June ADP employment came worse than the market expectations of -411k at -473k which increased the market readiness of further lost jobs to be shown today with the release of June US non-farm payrolls which are expected to be -368k jobs with an increasing of the US unemployment to 9.6% but we have seen today too an improving of May US ISM manufacturing index to 44.8 from 42.8 and it was expected to be 44 and as we have mentioned in the recent analysis, the market has focused on the price paid index which came at 50 to push the gold up as the increased inflation pressure in the manufacturing sector in May as the market was waiting for just an increasing to 46.7.

Evergreen Solar (NASDAQ:ESLR) upgraded by JP Morgan

POINT ROBERTS, WA —July 2, 2009, -- www.RenewableEnergyStocks.com,

a leading investor news and research portal for the renewable energy sector within Investorideas.com, presents a sector close-up on solar stocks trading as of July 2, 2009.

Solar Stocks in the News

*Akeena Solar, Inc. (Nasdaq:AKNS), SANTA CRUZ, Calif., July 1, 2009- a leading national installer and distributor of solar power systems, today announced the installation of its award winning Andalay solar panel system at Silver Mountain Vineyards, a certified organic vineyard and winery nestled in the Santa Cruz Mountains in Northern California.