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                                AMENDMENT TO THE

                              ACQUISITION AGREEMENT

                                   DATED AS OF

                                  JUNE 24, 2010

                                  BY AND AMONG

                           GULFSTAR ENERGY CORPORATION

                                       AND

                           GULFSTAR ENERGY GROUP, LLC
                              ON BEHALF OF CERTAIN
                               INTEREST HOLDER(S)






In consideration of the mutual promises the Acquisition Agreement Dated June 24,
2010 by and among Gulfstar Energy  Corporation and Gulfstar Energy Group, LLC on
behalf of certain interest holders is hereby amended as follows:

Section One
-----------

     A.   Section  505 is  hereby  amended  by  deleting  December  1,  2010 and
          replacing it with September 30, 2011.

     B.   Section  6.01 (c) is hereby  amended by  deleting  March 31,  2011 and
          replacing it with December 31, 2011.


Section Two
-----------

         Nothing  herein  shall be  construed  to have any  effect  on any other
provision of the Acquisition Agreement.

Section Three
-------------

         The  Company  is  not  waiving  any  rights  under  any  clause  of the
Acquisition Agreement and is still investigating and conducting due diligence on
Gulfstar LLC and its assets.



         IN WITNESS  WHEREOF,  the parties  hereto have caused this  Acquisition
Agreement Amendment to be duly executed as of 24 March 2011.

                                                GULFSTAR ENERGY CORPORATION


                                                By:
                                                Name:
                                                Title:


                                                GULFSTAR ENERGY GROUP, LLC


                                                By: ___________________________