UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                        Date of Report: August 26, 2010


                           GULFSTAR ENERGY CORPORATION
                           ---------------------------
             (Exact name of registrant as specified in its charter)



                                                                                  

              Colorado                                 333-151398                               02-0511381
- -------------------------------------             ----------------------             ---------------------------------
  (State or other jurisdiction of                   (Commission File                   (IRS Employer Identification
           incorporation)                                Number)                                 Number)



                 3410 Embassy Drive, West Palm Beach, FL, 33401
                 ----------------------------------------------

               (Address of Principal Executive Offices) (Zip Code)


                                 (561) 703-8974
                                 --------------
               Registrant's telephone number, including area code

                           Gulfstar Energy Corporation
                           ---------------------------

          (Former name or former address, if changed since last report)

         Check the  appropriate  box below if the Form 8-K filing is intended to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:


[    ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[    ]  Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[    ]  Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))

[    ]  Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CFR 240.13e-4(c)







                            Section 8 - OTHER EVENTS

Item 8.01 Other Events.

Letter of Intent

         Gulfstar  Energy Corp, a Colorado  corporation  (collectively  with its
owned or controlled  subsidiaries,  the  "Company")  has engaged Maxim Group LLC
(together with its affiliates and subsidiaries, the "Placement Agent") to act as
the  Company's  exclusive  Placement  Agent in  connection  with  the  Company's
proposed private placement (the "Offering") of equity, convertible,  debt and/or
equity linked securities (the "Securities") of the Company. The precise terms of
the  Securities  and the gross  proceeds  of such  Offering  will be  negotiated
between the  Placement  Agent and the  Company  with one or more  Investors  (as
defined below), it being understood that the gross proceeds of the Offering will
be up to $15 million.


                  Section 9 FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits

         (c) Exhibits.  The  following is a complete  list of exhibits  filed as
part of this Report.  Exhibit  numbers  correspond to the numbers in the exhibit
table of Item 601 of Regulation S-B.

          Exhibit No.   Description
          -----------   -----------
            10.1        Letter of Intent


- --------------------
*Filed herewith







                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.



                          GULFSTAR ENERGY, CORPORATION


                              By: /s/Robert McCann
                              --------------------
                                     Robert McCann, Chief Executive Officer

Date: September 15, 2010