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

                                 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 April 30, 2003

                       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 16,006,875 on April 30, 2003.

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


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


                           MALAHAT ENERGY CORPROATION

                         QUARTERLY REPORT ON FORM 10-QSB
                     Quarterly Period Ended April 30, 2003


  TABLE OF CONTENTS                                             PAGE

Part I- Financial Information.............................................. 2

Item 1. Financial Statements............................................. F-1

  Condensed Consolidated Balance Sheet as of April 30, 2003
  (Unaudited).............................................................F-1

  Condensed Consolidated Statements of Operations for the three
  and nine-month periods ended April 30, 2003 and 2002 (Unaudited)........F-2

  Condensed Consolidated Statements of Cash Flows for the nine-month
  periods ended April 30, 2003 and 2002 (Unaudited).......................F-3

 Notes to Condensed Consolidated Financial Statements.................F-4-F-8

Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations...............................................3

Item 3. Qualitative and Quantitative Disclosure about Market Risks..........6
Item 4. Controls and Procedures.............................................6

Part II- Other Information..................................................7

Item 1. Legal Proceedings...................................................7
Item 2. Changes in Securities and Use of Proceeds...........................7
Item 3. Defaults upon Senior Securities.....................................7
Item 4. Submission of Matters to a Vote of Security Holders.................7
Item 5. Other Information...................................................7
Item 6. Exhibits and Reports on Form 8-K....................................8
Signatures..................................................................8
Certifications.............................................................10

<PAGE>1


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

<PAGE>2
Item 1.  Financial Statements.

The April 30, 2003 and 2002 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
               (Formerly Known As Granada Mineral Products, Inc.)
                         (A development Stage Company)
                      CONDENSED CONSOLIDATED BALANCE SHEET
                               April 30, 2003
                                   Unaudited




   ASSETS

   Current Assets
       Cash and cash equivalents                                      $ 5,633
       Recoverable tax receivable                                         451
                                                                      -------
   Total Current Assets                                                 6,084

       Property and equipment, net                                     21,240
       BioFuel System                                                  58,155
                                                                      -------
   Total Non-Current Assets                                            79,395
                                                                      =======
                                                                     $ 85,479


   LIABILITIES AND STOCKHOLDERS' DEFICIT

   Current Liabilities
       Accounts payable and accrued liabilities                      $148,167
       Due to related party                                             7,809
       Note payable to related party                                        -
                                                                     ---------
   Total Current Liabilities                                          155,976

   Commitments and Contingencies

   STOCKHOLDERS' DEFICIT

       Common stock, par value of $0.001, 100,000,000 shares
         authorized; 16,006,875 issued and outstanding                 16,006
       Additional paid-in capital                                   1,935,825
       Common stock subscribed                                          8,800
       Accumulated other comprehensive loss                           (31,356)
       Deficit accumulated during development stage                (1,999,772)
                                                                   -----------
 Total Stockholders' Deficit                                          (70,497)

                                                                     $ 85,479
                                                                    ==========

   See Accompanying notes to the condensed consolidated financial statements

<PAGE>F-1

                           MALAHAT ENERGY CORPORATION
               (Formerly Known As Granada Mineral Products, Inc.)
                         (A Development Stage Company)
     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                                   Unaudited

<table>
<caption>

                                         <c>               <c>             <c>                <c>             <c>


                                             Nine Months Ended April 30        Three Months Ended April 30       Inception Through
                                            --------------------------        ----------------------------        April 30, 2003
                                                2003              2002             2003              2002         ---------------
                                               -----             ------           -----              ----
Revenue
 Interest                                      $  1,874          $ 7,218         $ 1,874             $   -             $ 8,133
 Government grants                                    -                -               -                 -                   -
                                             ----------      -----------      -----------        ---------        ------------
                                                      -           7,218                -                 -               8,133
                                             ----------      -----------      -----------        ---------        ------------
Operating expenses
 Research and development                        62,200         (176,694)           6,360           (1,776)            543,162
 Interest                                         2,674                -            1,268                -             238,319
 General and administrative                     127,571          386,365           31,356           85,555           1,640,181
                                             ----------      -----------      -----------        ---------        ------------
                                                192,445          209,671           38,984           83,779           2,421,662
                                             ----------      -----------      -----------        ---------        ------------

Loss before extraordinary gain                 (190,571)        (202,453)         (37,110)         (83,779)         (2,413,529)

Gain on forgiveness of debt                     413,757                -          413,757                -             413,757
                                             -----------     ------------    -------------       ----------       --------------
Net income (loss)                               223,186         (202,453)         376,647          (83,799)         (1,999,772)

Other comprehensive income (loss)
Currency translation adjustment                 (24,803)          (7,686)        (21,436)            4,531             (31,356)
                                             ----------      -----------      -----------         ---------        ------------
Comprehensive (loss)                          $ 198,383      $  (210,139)       $ 355,211         $(79,248)          (2,031,128)
                                             ==========      ===========      ===========         =========        ============
Basic and diluted net loss available to
  common stockholders per share               $   0.01       $    (0.01)        $    0.02         $  (0.01)
                                             ==========      ===========      ===========        ==========
Weighted average number of common
  shares outstanding                         15,668,000       15,500,000       16,006,875        15,500,000
                                             ==========      ===========      ===========        ==========


See Accompanying notes to the condensed consolidated financial statements

</table>
<PAGE>F-2

                           MALAHAT ENERGY CORPORATION
                                AND SUBSIDIARIES
               (Formerly Known As Granda Mineral Products, Inc.)
                         (A Development Stage Company)
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
      For the Sixth Months Ended April 30, 2003 and 2002 And The Period
            From July 26, 1994 (Inception) Through April 30, 2003
                                   Unaudited

<table>
<caption>

                                                            <c>                <c>                  <c>


                                                                                                      July 26, 1994
                                                              Nine-Months Ended   Nine-Months Ended  (Inception) Through
                                                               April 30, 2003     April 30, 2002      April 30, 2003

CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss                                                             $223,186       $(202,453)         (1,999,772)

Adjustments to reconcile net loss to
net cash used in operating activities:

Non-cash capital contribution                                               -               -               16,210
Issuance of common shares for non-cash items                                -               -            1,139,749
Deprecation                                                             2,026           1,994                8,664
Gain on Forgiveness of debt                                          (413,757)              -            (413,757)

Changes in operating assets and liabilities:
Accounts receivable                                                         -           2,145                   -
Accounts receivable - other                                                 -        (189,624)                  -
Refundable tax credits                                                 68,472               -                (451)
Other Assets                                                                -               -                   -
Accounts payable and accrued liabilities                              134,477          64,474             552,638
Due to related party                                                      563            (173)                483
                                                                     ---------       ----------        -----------
Net cash used in operating activities                                  14,967        (163,433)          (666,592)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment                                          -                -           (29,904)
Biofuel system manufacturing costs                                     (4,197)        (56,905)           (54,566)
                                                                      ---------       ----------       -----------
Net cash flows used in investing activities                            (4,197)        (56,905)           (84,471)

CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common shares for cash                                          -               -            530,422
Shares redeemed                                                             -               -            (27,503)
Proceeds for subscribed stock                                          19,000               -             29,000
Proceeds from shareholder loans                                             -               -              7,911
Proceeds from long-term debt                                                -               -            264,788
Proceeds from issuing a note payable to related party                       -               -                  -
                                                                      ---------       --------         ----------
Net cash flows provided by financing activities                        19,000               -            823,378

FOREIGN CURRENCY TRANSLATION ADJUSTMENT                               (24,803)         (7,686)           (31,356)

NET (DECREASE) INCREASE IN CASH                                         4,967        (228,024)             5,633

Cash - beginning of period                                                666         235,229                  -
                                                                     ---------       ---------         ----------
Cash - end of period                                                   $5,633         $ 7,205              5,633
                                                                     =========       =========         ==========


See Accompanying notes to the condensed consolidated financial statements
for information relating to non-cash investing and financing activities.

</table>
<PAGE>F-3

                   Malahat Energy Corporation And Subsidiary
               (Formely Known As Granada Mineral Products, Inc.)
                         (A Development Stage Company)
              Notes to Condensed Consolidated Financial Statements
                           April 30, 2003 and 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.

<PAGE>F-4

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.

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 April 30, 2003, the Company had
accumulated deficit of approximately $2,000,000 and a working capital deficit of
approximately $150,000

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.

<PAGE>F-5

These circumstances, among others, raise substantial doubt about the Company's
ability to continue as a going concern. The condensed 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.


2.  INTERIM FINANCIAL STATEMENTS

The accompanying unaudited condensed 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.

<PAGE>F-6

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 was  unsecured and bore  no interest until the original  maturity date
of December 31, 2002. The note was not retired as of that date, and accordingly,
an annual interest rate of 10% was applicable on the unpaid principal balance.
The note was paid back in full during the quarter ended April 30, 2003.

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 $31,356 at April 30, 2003.  Income and expense are
translated at weighted average exchange rates for the period.

6. EQUITY TRANSACTIONS

During the quarter ended April 30, the Company issued 506,875 shares for
approximately $20,000. During the quarter ended April 30, 2003, the Company
received $8,400  from two investors for 164,500 shares.  Because the shares were
not issued as of April 30, 2002, the contribution was accounted for and reported
as common stock subscribed in the accompanying condensed consolidated financial
statements. The Company granted these investors a warrant to purchase up to
164,500 of the Company's common stock at graduated exercise prices ranging from
$0.10 to $0.20 per share. The warrant vested on the date of grant and is
exercisable through September 7, 2004.

In addition, the Company had 265,000 shares that were issued but not outstanding
that were transferred to a creditor in lieu of services in the amount of
$20,000.

<PAGE>F-7

7. RELATED PARTY TRANSACTIONS

During the quarter ended April 30, 2003, certain officers and consultants of the
Company forgave debt in the amount of approximately $414,000. The forgiven debt
was treated as an extraordinary income in the accompanying condensed
consolidated statement of operations.

8.  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-8

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 April 30, 2003, the Company expended approximately $6,000
on research and development. For the quarter ended April 30, 2002, the Company
showed a recovery of approximately $2,000 of research and development
expenditures, attributable to Federal government contributions it received.

For the quarter ended April 30, 2003 the Company expended approximately $31,000
on general and administrative expenses as compared to $86,000 for the quarter
ended April 30, 2002.  The primary reason for this decline in spending was a
reduction in wages and salaries paid of approximately $55,000.

During the quarter ended April 30, 2003, management and key employees forgave
approximately $414,000 in accrued salary and wages.  This has been reflected as
an extraordinary gain on debt forgiveness in the condensed consolidated
statements of operations and comprehensive loss.

The Company's operating income for the quarter ended April 30, 2003 was
approximately $377,000. This compares to an operating loss of approximately
$83,000 for the same quarter last year.

<PAGE>3

The difference is attributable to the above noted reduction in general and
administrative expenses and the extraordinary debt forgiveness.

The earnings per common share were $0.02 as compared to a loss of $0.01 for the
same quarter one year ago.


LIQUIDITY AND CAPITAL RESOURCES

Capital Resources

As of April 30, 2003 the Company had cash of approximately $6,000 and a working
capital deficiency of approximately $150,000.

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 provided by operating activities for the nine months ended April 30,
2003 was approximately $15,000as compared to $163,000 utilized by operations for
the nine months ended April 30, 2002.

The primary contributors to this increase were (I) income for the nine months of
$223,186 vs a loss of $202.453 for the same period one year ago, (ii)the gain on
the forgiveness of debt of $413,757, (iii) an increase of refundable tax credits
of $68,472, and (iv) an increase of accounts payable of $70,003.

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

<PAGE>4

Cash Flows Used In Investing Activities

Net cash used in investing activities decreased by approximately $53,000 for the
nine months ended April 30, 2003 as compared to the same period last year.  This
decrease is attributable to the completion of the manufacturing process of the
M500 Biofuel system.

Cash Flows From Financing Activities

Net cash provided by financing activities increased by $19,000 for the current
nine month period, attributable to proceeds for subscribed stock.

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 April 30, 2003, the Company had
accumulated deficit of approximately $2,000,000 and a working capital deficit of
approximately $150,000.

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.

<PAGE>5

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>6

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 December 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>7


                                   PART II

                               OTHER INFORMATION


Item 1.         Legal Proceedings.

The Registrant is not involved in any material legal proceedings.

Item 2.         Changes in Securities.

As of April 30, 2003 506,875 shares of the Company's restricted
common stock were issued for cash.


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


99.01    Certification of President

99.02    Certification of Chief Financial Officer

(b) Reports on Form 8-K.

None

<PAGE>8



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:  June 19, 2003



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: June 19, 2003

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

<PAGE>9


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: June 19, 2003

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

<PAGE>10