===============================================================================

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  FORM 10-QSB

          (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended October 31, 2002

                       Commission File Number: 000-29475

===============================================================================

                           MALAHAT ENERGY CORPORATION

               (Exact name of Registrant as specified in charter)

                    NEVADA                        87-0640430
           (State of incorporation)      (I.R.S. Employer ID Number)

            700 - 101 Convention Centre Drive Las Vegas, NV 89109
         (Address of principal executive offices)       (Zip Code)

                                 1-866-404-3311
                          (Issuer's telephone number)

===============================================================================

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]

The number of shares outstanding of the Registrant's only class of common stock,
$0.001 par value per share, was 15,500,000 on December  15, 2002.

Transitional Small Business Disclosure Format: Yes [ ] No [X]

===============================================================================



                           MALAHAT ENERGY CORPROATION

                         QUARTERLY REPORT ON FORM 10-Q
                    Quarterly Period Ended October 31, 2002

                               TABLE OF CONTENTS

                                     PART I

                             FINANCIAL INFORMATION


FORWARD-LOOKING STATEMENTS

This Report on Form 10-QSB contains express or implied forward-looking
statements.  The words "believes", "expects", "anticipates", "intends",
"forecasts", "projects", "plans", "estimates", and similar expressions identify
forward-looking statements.  Such statements reflect the Company's current views
with respect to future events and financial performance or operations and speak
only as of the date the statements are made.  Such forward-looking statements
involve risks and uncertainties and readers are cautioned not to place undue
reliance on forward-looking statements.  The Company's actual results may differ
materially from such statements.  Factors that cause or contribute to such
differences include, but are not limited to, those discussed elsewhere in this
Form 10-QSB in, for example, Item 2, in the section entitled "Risk Factors."
Although the Company believes that the assumptions underlying its forward-
looking statements are reasonable, any of the assumptions could prove inaccurate
and, therefore, there can be no assurance that the results contemplated in such
forward-looking statements will be realized.  The inclusion of such forward-
looking information should not be regarded as a representation by the Company or
any other person that the future events, plans or expectations contemplated by
the Company will be achieved.  The Company undertakes no obligation to publicly
update, review or revise any forward-looking statements to reflect any change in
the Company's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.

Part I - Financial Information

Item 1.  Financial Statements.

The October 31, 2002 and 2001 Condensed Consolidated Financial Statements of the
Company required to be filed with this Form 10-QSB Quarterly Report were
prepared by management without audit and commence on the following page,
together with the related Notes. In the opinion of management, these Condensed
Consolidated Financial Statements present fairly the financial condition of the
Company, but should be read in conjunction with the Consolidated Financial
Statements of the Company for the year ended July 31, 2002 previously filed with
the Securities and Exchange Commission.




                  Malahat Energy Corporation And Subsidiary
                (Formerly Known As Granada Mineral Products, Inc.)
                       (A Development Stage Company)
                        Consolidated Balance Sheet
                            October 31, 2002

                                 (Unaudited)

                                    ASSETS

Current Assets:

   Cash                                               $          2,358
   Recoverable tax receivable                                   70,827
                                                               -------
      Total Current Assets                                      73,185

Biofuel System                                                  53,566
Property and equipment, net                                     21,920
                                                               -------

                                                      $        148,671
                                                               =======

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
   Accounts payable and accrued liabilities           $        521,754
   Due to related party                                          7,193
   Note payable to related party                                25,680
                                                               -------
      Total Current Liabilities                                554,627

Commitments and Contingencies

Stockholders' equity
   Common stock, $.001 par value,
    100,000,000 shares authorized,
    15,500,000 shares issued and outstanding                    15,500
   Additional paid in capital                                1,895,773
   Common stock subscribed                                      10,000
   Accumulated other comprehensive loss                         (2,306)
   Deficit accumulated during the development stage         (2,324,923)
                                                            -----------
                                                              (405,956)
                                                            -----------

                                                      $        148,671
                                                            ===========



See accompanying notes to the consolidated financial statements

<PAGE>F-1



                   Malahat Energy Corporation And Subsidiary
               (Formerly Known As Granada Mineral Products, Inc.)
                         (A Development Stage Company)
     Consolidated Statements of Operations And Comprehensive Income (Loss)
          For the Three-Months Period Ended October 31, 2002 and 2001
               And for the Period From July 26, 1994 (Inception)
                            Through October 31, 2002

                                         (Unaudited)
<table>
<caption>

                                                    <c>              <c>            <c>
                                                                                    July 26,1994
                                                     October 31,      October 31,     (Inception)
                                                       2002            2001            Through
                                                                                   October 31, 2002

Revenue                                          $     -         $     7,315        $     6,259

Operating expenses:
  Research and development                            39,536        (130,849)           520,498
  Interest                                             1,397            -               237,042
  General and administrative expenses                 61,032         191,235          1,573,642
                                                     -------         -------          ---------
                                                     101,965          60,386          2,331,182
                                                     -------         -------          ---------

Net (loss)                                          (101,965)        (53,071)        (2,324,923)
                                                    --------         -------         -----------
Other comprehensive income:
  Currency translation adjustment                      4,247          (7,650)            (2,306)
                                                    --------         -------          ----------

Comprehensive Income (loss)                      $   (97,718)    $   (60,721)       $(2,327,229)
                                                   =========         =========       ===========

Basic and Diluted Loss Per Common Share          $     (0.01)    $     (0.00)
                                                   ==========        ==========
Weighted Average Number of Common
Shares Outstanding                                 15,500,000        15,500,000
                                                   ==========        ==========

See accompanying notes to the consolidated financial statements

</table>
<PAGE>F-2

                   Malahat Systems Corporation And Subsidiary
                (Formerly Known As Granada Mineral Products, Inc.)
                       (A Development Stage Company)
                   Consolidated Statements of Cash Flows
          For the Three-Months Period Ended October 31, 2002 and 2001
                  And for the Period From July 26, 1994 (Inception)
                          Through October 31, 2002

                                (Unaudited)
<table>
<caption>
   
                              <c>             <c>              <c>

                                  October 31,    October 31,   July 26, 1994
                                     2002            2001       (Inception)
                                                                  Through
                                                                 October 31,
                                                                    2002
                                   ----------     ----------     ------------
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss                          $ (101,965)    $ (53,071)    $ (2,324,923)

Adjustments to reconcile net
loss to net cash used in
operating activities:
      Non-cash capital                     -           -              16,210
        contribution
      Issuance of common shares            -           -           1,139,749
        for non-cash items
      Depreciation                     1,346          1,443            7,984
Changes in operating assets and
liabilities:
Accounts receivable - other              -         (139,649)              -
Refundable tax receivable             (1,904)         1,742          (70,827)
Other assets                             -           (2,812)              -
Accounts payable and accrued           73,949         9,742          521,754
Liabilities
Due to related party                     (53)          (223)            (133)
                                  ----------     ----------     ------------
Net cash used in operating           (28,627)      (182,828)        (710,186)
activities

CASH FLOWS FROM INVESTING
ACTIVITIES
Purchases of property and                  -        (1,071)          (29,904)
equipment
Biofuel system manufacturing             392            -            (53,566)
costs
                                  ----------     ----------     ------------
Net cash used in investing               392        (1,071)          (83,470)
activities

CASH FLOWS FROM FINANCING
ACTIVITIES

Issuance of common shares for
cash                                        -             -          530,422
Shares redeemed                             -             -          (27,503)
Proceeds for subscribed stock               -             -           10,000
Proceeds from note to related party    25,680             -           33,591
Proceeds from long-term debt                -             -          264,788
                                  -----------    ----------     ------------
Net cash provided by financing         25,680             -          811,298
activities

FOREIGN CURRENCY TRANSLATION            4,247      (4,838)          (15,284)
ADJUSTMENTs                       ----------     ----------     ------------

NET (DECREASE) INCREASE IN CASH         1,692     (188,737)            2,358
                                  ----------     ----------     ------------
CASH - beginning of period                666       235,229                -
                                  -----------     ----------     ------------
CASH - end of period              $     2,358    $   46,492     $      2,358
                                  ===========    ==========     ============
SUPPLEMENTAL DISCLOSURE OF CASH
FLOW INFORMATION

Cash paid for income taxes        $         -    $        -     $          -
                                  ===========    ==========     ============
Cash paid for interest            $         -    $        -     $          -
                                  ===========    ==========     ============

NON CASH FINANCING AND
  INVESTING ACTIVITIES

Conversion of long term debt     $         -     $  254,095     $    264,788
 to common stock                  ===========    ==========     ============


</table>

See accompanying notes to the consolidated financial statements

<PAGE>F-3


                   Malahat Energy Corporation And Subsidiary
              (Formely Known As Granada Mineral Products, Inc.)
                       (A Development Stage Company)
                  Notes to Consolidated Financial Statements
                            October 31, 2002
                                (Unaudited)

1.  ORGANIZATION

Nature of Business

Malahat Energy Corporation ("Malahat" or the "Company") is a Nevada corporation
that was formed on July 26, 1994. The Company is currently a development stage
enterprise and is engaged in the development of BioFuel systems to convert
organic waste material into an economical, synthesized fuel gas for energy
consumption. The Company completed a reverse merger with a publicly traded
"Shell" company (See Below) in May 2001 and trades on the Over the Counter
Bulletin Board under the symbol "MAHT".

Reorganization of Sarenghetti Enterprise

Effective May 4, 2001, Sarenghetti Enterprises ("SARG") entered into a
reorganization and stock exchange agreement (the "Agreement") with Malahat
Systems Corporation ("MSC"). Pursuant to the terms of the Agreement, all of the
6,765,929 outstanding common shares of MSC were exchanged for shares of SARG on
a 1 to 1 basis or 6,675,929 shares of common stock of SARG. Immediately after
the reorganization SARG had a total of 6,765,929 shares issued and outstanding.
As a result, MSC is a wholly owned subsidiary of SARG. Subsequent to May 4,
2001, the Company completed a reverse merger (See Below).

Reverse Merger

On May 4, 2001, Granada Mineral products, Inc. ("GMP") entered into an agreement
and plan of reorganization and merger (the "plan" or "merger") with SARG.
Immediately prior to the merger, GMP had 100,000,000 shares authorized and
5,425,000 shares issued and outstanding. Effective May 9, 2002 and pursuant to
the merger, all of the 6,765,929 outstanding common shares of SARG were
exchanged for shares of GMP on a 1 to 1.49 basis or into 10,075,000 shares of
common stock of GMP for a total of 15,500,000 shares of common stock issued and
outstanding.

Immediately after the merger, the officer and director of GMP resigned and the
management of SARG controlled such positions; therefore effecting a change of
control. As a result the Company accounted for the transaction as a reverse
merger whereby SARG was considered the accounting acquirer as it retained
control of GMP after the merger. The company simultaneously changed its name to
Malaht Energy Corporation and changed its fiscal year end from December 31, to
July 31. The results of GMP previously filed in prior years are not included
herein. The related financial statements are the results of operations of SARG.

Since GMP's continuing operations were insignificant, a pro forma consolidated
statements of operations are not presented here.

<PAGE>F-4

Development Stage and Going Concern

The Company has been in the development stage since it began operations on July
26, 1994, and has not generated any revenues from operations and there is no
assurance of any future revenues.  As of October 31, 2002, the Company had
accumulated deficit of approximately $2,325,000 and a working capital deficit of
approximately $481,000.

The Company will require substantial additional funding for continuing research
and development, obtaining regulatory approval and for the commercialization of
its product. There can be no assurance that the Company will be able to obtain
sufficient additional funds when needed, or that such funds, if available, will
be obtainable on terms satisfactory to the Company. In addition, the Company's
ability to continue as a going concern must be considered in light of the
problems, expenses and complications frequently encountered by entrance into
established markets and the competitive environment in which the Company
operates.

Management plans to obtain revenues from product sales, but there is no
commitment by any person to purchase any of the proposed products. In the
absence of significant sales and profits, the Company may seek to raise
additional funds to meet its working capital requirements through the additional
sales of debt and equity securities. The Company's management is pursuing
further contributions and grants from government agencies and is pursuing
financing for its operations and expansion, including manufacturers' financing,
bank leasing and bond or equity financing. Failure to secure such financing or
to raise additional equity capital may result in the Company depleting its
available funds and not being able to pay its obligations.

These circumstances, among others, raise substantial doubt about the Company's
ability to continue as a going concern. The consolidated financial statements do
not include any adjustments to reflect the possible future effects on the
recoverability and classification of assets or the amounts and classification of
liabilities that may result from the possible inability of the Company to
continue as a going concern.

<PAGE>F-5

2.  BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
of America  ("GAAP") for interim financial information and Item 310(b) of
Regulation SB.  They do not include all of the information and footnotes
required by GAAP for complete financial statements.  In the opinion of
management, all adjustments (consisting only of normal recurring adjustments)
considered necessary for a fair presentation have been included.  The results of
operations for the periods presented are not necessarily indicative of the
results to be expected for the full year.  The accompanying financial statements
should be read in conjunction with the Company's audited July 31, 2002
consolidated financial statements included in Form 10-KSB previously filed with
the Securities and Exchange Commission.

3.  STOCK OPTION PLAN

On August 1, 2002, the Company's Board approved the Malahat Energy Corporation
Stock Option Plan (the "Plan"), effective upon approval by the shareholders of
the Company by July 31, 2003.  The Plan provides for the grant of various types
of stock options, including qualified and non-qualified stock options. A maximum
of 1,000,000 qualified and 3,000,000 total options of the Company's common stock
may be issued pursuant to the Plan. The Plan is administered by the Board of
Directors and terminates on July 31, 2012.

4.  NOTE PAYABLE TO RELATED PARTY

On September 13, 2002, the Company entered into a note agreement with one of its
officers, under which the officer advanced approximately $25,000 to the Company.
The note is unsecured and bears no interest if paid on or before the maturity
date of December 31, 2002. If the Company is in default on the note, an annual
interest rate of 10% will be payable on the unpaid principal balance.

5. FOREIGN CURRENCY TRANSLATION

Assets and liabilities of the Company's Canadian operations are translated into
U.S. dollars at period-end exchange rates. Net exchange gains or losses
resulting from such translation are excluded from net earnings but are included
in comprehensive loss and accumulated in a separate component of stockholders'
equity. Such amount was $2,306 at October 31, 2002.  Income and expense are
translated at weighted average exchange rates for the period.

6.  RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

SFAS No. 147, "Acquisitions of Certain Financial Institutions," was issued in
October 2002. SFAS 147 addresses acquisitions of financial institutions and
intangible assets associated with financial institutions. The provisions of SFAS
147 call for acquisitions of financial institutions to be accounted for in
accordance with SFAS 141 and 142 and intangible assets associated with financial
institutions to be accounted for in accordance with SFAS 144. SFAS 147 is
effective for such activities as of October 1, 2002. The adoption of SFAS 147
did not have a material impact on the Company's consolidated financial
statements.

<PAGE>F-6

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The following discussion and analysis should be read in conjunction with the
financial statements and notes to financial statements included elsewhere in
this interim report on Form 10-QSB.  This report and the financial statements
and notes to financial statements contain forward-looking statements, which
generally include the plans and objectives of management for future operations,
including plans and objectives relating to future economic performance and our
current beliefs regarding revenues we might earn if we are successful in
implementing our business strategies.  The Company does not undertake to update,
revise or correct any forward-looking statements.

The information contained in this report is not a complete description of the
Company's business or the risks associated with an investment in our common
stock.  Before deciding to buy or maintain a position in its common stock, you
should carefully review and consider the various disclosures we made in this
report, and in other reports filed with the Securities and Exchange Commission
that discuss the Company's business in greater detail and that disclose various
risks, uncertainties and other factors that may affect business, results of
operations or financial condition.


RESULTS OF OPERATIONS

For the quarter ended October 31, 2002 the Company expended $39,536 on research
and development. For the quarter ended October 31, 2001, the Company showed a
recovery of $130,849 of research and development expenditures, attributable to
Federal government contributions it received.

For the quarter ended October 31, 2002 the Company expended $61,032 on general
and administrative expenses as compared to $191,235 for the quarter ended
October 31, 2001.  The primary reasons for this decline in spending were a
decrease in salaries and consulting fees of approximately $45,000, a decrease in
advertising of approximately $34,000 and a decrease in office expenses of
approximately $6,000.

The Company's operating loss for the quarter ended October 31, 2002 was $97,718
an increase of $36,997 from the quarter ended October 31, 2001. This increase is
attributable to the above noted Federal government contributions.

The loss per common share for the quarter was $0.01; as compared to $0.00 for
the same quarter a year ago.

<PAGE>2

LIQUIDITY AND CAPITAL RESOURCES

Capital Resources

As of October 31, 2002 the Company had cash of $2,358 and a working capital
deficiency of approximately $481,000.  Included in this working capital
deficiency were salaries payable to employees and consultants in the amount of
approximately $380,000, which Management intends to convert this liability to
equity.

Management anticipates that future short term liquidity requirements will be
financed by receipt of capital grants and taxes receivable, obtaining additional
capital contributions and from the proceeds from selling or leasing the
Company's products as the Company continues to seek commercializing such
products.

Cash Flows From Operating Activities

Net cash utilized in operating activities for the quarter ended October 31, 2002
was $28,627 as compared to $182,828 for the quarter ended October 31, 2001. The
primary contributors to this decrease were (i) the increase in accounts payable
and accrued liabilities of $73,949 resulting primarily from the increase in
accrued salaries and consulting fees, and (ii) the decrease in accounts
receivable - other resulting from government funding.

Management expects cash flows from operating activities to increase due the
expected receipt of government grants and taxes receivable

Cash Flows From Financing Activities

Net cash provided by financing activities increased by $25,680 for the current
quarter, attributable to proceeds provided by a related party.

The Company has been in the development stage since it began operations on July
26, 1994, and has not generated any revenues from operations and there is no
assurance of any future revenues.  As of October 31, 2002, the Company had
accumulated deficit of approximately $2,325,000 and a working capital deficit of
approximately $481,000.

The Company will require substantial additional funding for continuing research
and development, obtaining regulatory approval and for the commercialization of
its product. There can be no assurance that the Company will be able to obtain
sufficient additional funds when needed, or that such funds, if available, will
be obtainable on terms satisfactory to the Company. In addition, the Company's
ability to continue as a going concern must be considered in light of the
problems, expenses and complications frequently encountered by entrance into
established markets and the competitive environment in which the Company
operates.

<PAGE>3

Management plans to obtain revenues from product sales, but there is no
commitment by any person to purchase any of the proposed products. In the
absence of significant sales and profits, the Company may seek to raise
additional funds to meet its working capital requirements through the additional
sales of debt and equity securities. The Company's management is pursuing
further contributions and grants from government agencies and is pursuing
financing for its operations and expansion, including manufacturers' financing,
bank leasing and bond or equity financing. Failure to secure such financing or
to raise additional equity capital may result in the Company depleting its
available funds and not being able to pay its obligations.

These circumstances, among others, raise substantial doubt about the Company's
ability to continue as a going concern. The accompanying consolidated financial
statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and
classification of liabilities that may result from the possible inability of the
Company to continue as a going concern.

STOCK OPTION PLAN

On August 1, 2002, the Company's Board approved the Malahat Energy Corporation
Stock Option Plan (the "Plan"), effective upon approval by the shareholders of
the Company by July 31, 2003.  The Plan provides for the grant of various types
of stock options, including qualified and non-qualified stock options. A maximum
of 1,000,000 qualified and 3,000,000 total options of the Company's common stock
may be issued pursuant to the Plan. The Plan is administered by the Board of
Directors and terminates on July 31, 2012.

RISKS AND UNCERTAINTIES

The Company has a limited operating history. The Company has not yet generated
significant revenue from its business operations. As a new operating entity, the
Company faces risks and uncertainties relating to its ability to successfully
implement its strategy. Among other things, these risks include the ability to
develop and sustain revenue growth; managing expanding operations; competition;
attracting, retaining and motivating qualified personnel; maintaining and
developing new strategic relationships; and the ability to anticipate and adapt
to the changing energy market and any changes in government regulations. The
Company and its subsidiary have no experience in obtaining regulatory clearance
of these types of products. Therefore, the Company may be subject to the risks
of delays in obtaining or failing to obtain regulatory clearance and other
uncertainties, including financial, operational, technological, regulatory and
other risks associated with an emerging business, including the potential risks
of business failure.

<PAGE>4

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We develop products in Canada and sell them in North America, Asia and Europe.
As a result, our financial results could be affected by factors such as changes
in foreign currency exchange rates or weak economic conditions in foreign
markets.  As most of our sales are expected to be made in U.S. dollars, a
strengthening of the dollar could make our products less competitive in foreign
markets.  Our interest income is sensitive to changes in the general level of
U.S. interest rates, particularly since the majority of our investments are in
short-term instruments.  We regularly assess these risks and have established
policies and business practices to protect against the adverse effects of these
and other potential exposures.  As a result, the Company does not anticipate
material losses in these areas.  Due to the nature of our short-term
investments, we have concluded that there is no material market risk exposure.
Therefore, no quantitative tabular disclosures are required.


Item 4.  CONTROLS AND PROCEDURES.

Senior management, including the President and Chief Financial Officer,
evaluated the effectiveness of the Company's disclosure controls and procedures
during the month of September 2002.  Based on this evaluation process, the
President and Chief Financial Officer have concluded that the Company's
disclosure controls and procedures are effective.  Since that evaluation process
was completed, there have been no significant changes in internal controls or in
other factors that could significantly affect these controls.

<PAGE>5

                                   PART II

                               OTHER INFORMATION


Item 1.         Legal Proceedings.

The Registrant is not involved in any material legal proceedings.

Item 2.         Changes in Securities.

                None.


Item 3.         Defaults Upon Senior Securities.

                None.

Item 4.         Submission of Matters to a Vote of Security Holders

                None.

Item 5.         Other Information

                None.

Item 6.         Exhibits and Reports on Form 8-K

(a) Exhibits


99.1    Certification of President

99.2    Certification of Chief Financial Officer



(b) Reports on Form 8-K.

None

<PAGE>6

SIGNATURES

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


                                              MALAHAT ENERGY CORPORATION

                                    By: /s/   Jake Nuefeld
                                              ---------------------
                                              Jake Neufeld
                                              President

                                    By: /s/   Bruce Ramsay
                                              ---------------------
                                              Bruce Ramsay
                                              Chief Financial Officer



Dated:  December 23, 2002

<PAGE>7


                            CERTIFICATIONS


CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION
302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jake Neufeld, certify that:

 1.  I have reviewed this quarterly report on Form
10-Q of Malahat Energy Corporation;

 2.  Based on my knowledge, this quarterly
report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect
to the period covered by this quarterly report;

 3.  Based on my knowledge, the
financial statements and other financial information included in this quarterly
report, fairly present in all material respects the financial condition, results
of operations and cash flows of the registrant as of, and for, the periods
presented in this quarterly report;

 4.  The registrant's other certifying
officers and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
the registrant and have:

        a)  designed such disclosure controls and procedures to ensure that
            material information relating to the registrant, including its
            consolidated subsidiaries is made known to us by others within those
            entities, particularly during the period in which this quarterly
            report is being prepared;

        b)  evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

        c)  presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date; 5.  The registrant's other
            certifying officers and I have disclosed, based on our most recent
            evaluation, to the registrant's auditors and the audit committee of
            the registrant's board of directors (or persons performing the
            equivalent function): a)  all significant deficiencies in the design
            or operation of internal controls which could adversely affect the
            registrant's ability to record, process, summarize and report
            financial data and have identified for the registrant's auditors any
            material weaknesses in internal controls; and

        b)  any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

 6.  The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: December 23, 2002

 /s/  Jake Neufeld
      ---------------
      Jake Neufeld
      President



CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION
302 OF THE SARBANES-OXLEY ACT OF 2002

I, Bruce Ramsay, certify that:

1.  I have reviewed this quarterly report on Form
10-Q of Malahat Energy Corporation;

 2.  Based on my knowledge, this quarterly
report does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect
to the period covered by this quarterly report;

3.  Based on my knowledge, the
financial statements and other financial information included in this quarterly
report, fairly present in all material respects the financial condition, results
of operations and cash flows of the registrant as of, and for, the periods
presented in this quarterly report;

4.  The registrant's other certifying
officers and I are responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
the registrant and have:

        a)  designed such disclosure controls and procedures to
ensure that material information relating to the registrant, including its
consolidated subsidiaries is made known to us by others within those entities,
particularly during the period in which this quarterly report is being prepared;

        b)  evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

        c)  presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5.  The registrant's other certifying officers and I
have disclosed, based on our most recent evaluation, to the registrant's
auditors and the audit committee of the registrant's board of directors (or
persons performing the equivalent function):

        a)  all significant deficiencies in
the design or operation of internal controls which could adversely affect the
registrant's ability to record, process, summarize and report financial data and
have identified for the registrant's auditors any material weaknesses in
internal controls; and

        b)  any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6.  The registrant's other certifying officers and I have
indicated in this quarterly report whether or not there were significant changes
in internal controls or in other factors that could significantly affect
internal controls subsequent to the date of our most recent evaluation,
including any corrective actions with regard to significant deficiencies and
material weaknesses.

Date: December 23, 2002

 /s/  Bruce Ramsay
     --------------
      Bruce Ramsay
      Chief Financial Officer