Amendment to Acquisition Agreement between Gulfstar Energy Corporation and Gulfstar Energy Group, LLC (March 24, 2011)

Summary

Gulfstar Energy Corporation and Gulfstar Energy Group, LLC have agreed to amend their original Acquisition Agreement dated June 24, 2010. This amendment changes certain key dates in the agreement, extending deadlines for specific obligations. All other terms of the original agreement remain unchanged, and Gulfstar Energy Corporation retains all its rights while continuing its due diligence on Gulfstar Energy Group, LLC and its assets. The amendment was executed on March 24, 2011.

EX-2.1 2 ex10.txt 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: ___________________________