U.S. SECURITIES AND EXCHANGE COMMISSION

AMENDMENT NO. 1 to

(Mark One)

[ x ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES

For the quarterly period ended:	June 30, 2003

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES

For the transition period from ____to ____

Commission file number 0-17232

TERRA NOSTRA TECHNOLOGY LTD.



|NEVADA                                                        | 86-0875500                      
|------------------------------------------------------------- | --------------------------------
|(State or other jurisdiction ofincorporation or organization) | (IRS EmployerIdentification No.)

Suite 720, 2160 rue de la Montagne,

(514) 845-7756

(Former name, former address and former fiscal year, if changed since last report)

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

State the number of shares outstanding of each of the issuer's classes of common equity, as of the las practicable date:

29,528,900 shares of Class A common stock, $0.001 par value, as of August 15, 2003

Transitional Small Business Disclosure Format (check one):	Yes  No X



This Amendment No. 1 to Form 10-QSB has been prepared and is being to filed to correct a few number of non-material errors in the financial statements filed with the original Form 10-QSB on August 19, 2003. As such, only the financial statements are included in this Amendment under Part I, Item 1 and no other part or item is provided herein as no changes have been made to any other part or item of the original Form 10-QSB.

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-QSB and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are of a normal recurring nature. Operating results for the six month periods ended June 30, 2003 and 2002 are not necessarily indicative of the results that may be expected for the year ending December 31, 2003. For further information refer to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2002.

|                                                     | Page  
|---------------------------------------------------- | ------
|                                                     |       
|Unaudited Consolidated Financial Statements          |       
|                                                     |       
|Balance Sheets                                       | 3     
|                                                     |       
|Statements of Operations                             | 4     
|                                                     |       
|Statements of Cash Flows                             | 5 to 6
|                                                     |       
|Statements of Stockholders' Equity                   | 7     
|                                                     |       
|Notes to Unaudited Consolidated Financial Statements | 8     

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TERRA NOSTRA TECHNOLOGY LTD. (formerly Terra Nostra Resources Ltd.)

|                                                                                                                                    |   | June 30, 2003 |   | December 31, 2002
|----------------------------------------------------------------------------------------------------------------------------------- | - | ------------- | - | -----------------
|                                                                                                                                    |   | (Unaudited)   |   | Restated(Note 1) 
|ASSETS                                                                                                                             
|Current Assets                                                                                                                      |   |               |   |                  
|Cash                                                                                                                                | $ | 13,940        | $ | 2,665            
|Accounts receivable                                                                                                                 |   | 7,755         |   | 4,518            
|Loans receivable                                                                                                                    |   | -             |   | 5,000            
|Due from related party                                                                                                              |   | 2,019         |   | -                
|Prepaid expenses                                                                                                                    |   | 7,339         |   | 1,193            
|Total Current Assets                                                                                                                |   | 31,053        |   | 13,376           
|                                                                                                                                    |   |               |   |                  
|Property and Equipment                                                                                                              |   |               |   |                  
|Equipment                                                                                                                           |   | 91,182        |   | -                
|Oil & Gas Leases                                                                                                                    |   | -             |   | 63,330           
|Less accumulated depletion and impairment                                                                                           |   | -             |   | (63,330)         
|Total Fixed Assets                                                                                                                  |   | 91,182        |   | -                
|                                                                                                                                    |   |               |   |                  
|Goodwill                                                                                                                            |   | 8,944,753     |   | -                
|                                                                                                                                    |   |               |   |                  
|Total Assets                                                                                                                        | $ | 9,066,988     | $ | 13,376           
|                                                                                                                                    |   |               |   |                  
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                               
|                                                                                                                                    |   |               |   |                  
|Current Liabilities                                                                                                                 |   |               |   |                  
|Accounts payable                                                                                                                    | $ | 261,174       | $ | 147,544          
|Accounts payable (related parties)                                                                                                  |   | -             |   | 3,864            
|Accrued expenses                                                                                                                    |   | 500           |   | 4,845            
|Deferred income                                                                                                                     |   | 4,655         |   | -                
|Loans payable                                                                                                                       |   | 27,480        |   | -                
|Total Current Liabilities                                                                                                           |   | 293,809       |   | 156,253          
|                                                                                                                                    |   |               |   |                  
|Future Site Restoration                                                                                                             |   | -             |   | 4,484            
|                                                                                                                                    |   |               |   |                  
|Stockholders' Equity                                                                                                                |   |               |   |                  
|Common Stock - authorized 100,000,000 shares of 0.001 par value; 29,528,900 and 14,568,900 issued and outstanding for 2003 and 2002 |   | 9,140,710     |   | 150,710          
|Proceeds due from the issue of common stock                                                                                         |   | -             |   | (14,764)         
|Accumulated deficit                                                                                                                 |   | (367,531)     |   | (283,307)        
|Total Stockholders' Equity                                                                                                          |   | 8,773,179     |   | (147,361)        
|Total Liabilities and Stockholders' Equity                                                                                          | $ | 9,066,988     | $ | 13,376           

The accompanying notes are an integral part of these unaudited financial statements

3

TERRA NOSTRA TECHNOLOGY LTD. (formerly Terra Nostra Resources Ltd.)(A Development Stage Company)Consolidated Statements of Operations (unaudited)

|                                                                             |   | For the Three Months Ended June 30, |   | For the Six Months Ended June 30,
|---------------------------------------------------------------------------- | - | ----------------------------------- | - | ---------------------------------
|                                                                             |   | 2003                                |   | 2002                             
|Revenues                                                                     |   |                                     |   |                                  
|Petroleum & natural gas (net of royalties)                                   | $ | 1,418                               | $ | 1,431                            
|Insecticides                                                                 |   | 32,285                              |   | -                                
|                                                                             |   | 33,703                              |   | 1,431                            
|                                                                             |   |                                     |   |                                  
|Costs and Expenses                                                           |   |                                     |   |                                  
|Petroleum and natural gas related costs (including depletion and impairment) |   | 783                                 |   | 417                              
|Insecticides                                                                 |   | 2,219                               |   | -                                
|Legal                                                                        |   | 11,260                              |   | 6,877                            
|Consulting Fees                                                              |   | 1,001                               |   | 26,490                           
|Other Administrative expenses                                                |   | 76,561                              |   | 2,985                            
|                                                                             |   |                                     |   |                                  
|                                                                             |   | 91,824                              |   | 36,769                           
|                                                                             |   |                                     |   |                                  
|Earnings (Loss) from operations                                              |   | (58,121)                            |   | (35,338)                         
|                                                                             |   |                                     |   |                                  
|Other income and expenses                                                    |   |                                     |   |                                  
|Write off loan receivable                                                    |   | -                                   |   | -                                
|Business tax refund                                                          |   | -                                   |   | -                                
|Gain from disposal of assets                                                 |   | 14,230                              |   | -                                
|                                                                             |   | (43,891)                            |   | (35.,338)                        
|                                                                             |   |                                     |   |                                  
|Provision for income taxes                                                   |   | -                                   |   | -                                
|                                                                             |   |                                     |   |                                  
|Net Income (Loss)                                                            | $ | (43,891)                            | $ | (35,338)                         
|                                                                             |   |                                     |   |                                  
|Net Income (Loss) per Common Share                                           | $ | (0.002)                             | $ | (0.003)                          
|                                                                             |   |                                     |   |                                  
|Weighted Average Number of Common Shares Used in Calculation                 |   | 19,695,567                          |   | 11,807,786                       
|                                                                             |   |                                     |   |                                  

The accompanying notes are an integral part of these unaudited financial statements

4

TERRA NOSTRA TECHNOLOGY LTD. (formerly Terra Nostra Resources Ltd.)Consolidated Statements of Cash Flows (Unaudited)



|                                                             | Six months ended
|------------------------------------------------------------ | ----------------
|                                                             | June 30, 2003   
|Cash From Operating Activities:                              |                 
|Net (Loss) from continuing operations                        | $               
|Reconciling adjustments                                      |                 
|Depreciation and amortization                                |                 
|Gain on disposal of assets                                   |                 
|Changes in operating assets and liabilities                  |                 
|Loan receivable                                              |                 
|Other asset                                                  |                 
|Accounts receivable                                          |                 
|Deferred Income                                              |                 
|Goodwill                                                     |                 
|Accounts payable and accrued expenses                        |                 
|                                                             |                 
|Net Cash Flows From Operating Activities                     |                 
|                                                             |                 
|Cash From Investing Activities:                              |                 
|Loans receivable                                             |                 
|Acquisition of equipment                                     |                 
|Net Cash Flows From Investing Activities                     |                 
|                                                             |                 
|Cash From Financing Activities:                              |                 
|Issue of common stock                                        |                 
|Loans payable                                                |                 
|Proceeds due from the issue of common stock                  |                 
|Shareholders loan                                            |                 
|Net Cash Flows From Financing Activities                     |                 
|                                                             |                 
|Net change in cash and cash equivalents                      |                 
|Cash at beginning of period                                  |                 
|                                                             |                 
|Cash at end of period                                        | $               
|                                                             |                 
|Supplementary disclosure of cash flow transactions           |                 
|Non Cash Investing and Financing Activities                  |                 
|Movement in Shareholders' loan                               |                 
|Common stock issued in part settlement of shareholders' loan |                 
|Cash received                                                |                 

5

|                                     |  |           |  |   |  |          
|------------------------------------ |  | --------- |  | - |  | ---------
|Acquisition of Corporation CCIP Inc. |  |           |  |   |  |          
|Common stock issued to acquire CCIP  |  | 9,000,000 |  | - |  | 9,000,000
|Assets and Liabilities acquired:     |  |           |  |   |  |          
|Cash                                 |  | 165       |  | - |  | 165      
|Accounts Receivable                  |  | 12,666    |  | - |  | 12,666   
|Prepaid expenses                     |  | 420       |  | - |  | 420      
|Equipment                            |  | 82,281    |  | - |  | 82,281   
|Accounts payable                     |  | (19,684)  |  | - |  | (19,684) 
|Deferred income                      |  | (19,241)  |  | - |  | (19,241) 
|Loan payable                         |  | (1,360)   |  | - |  | (1,360)  
|                                     |  | 55,247    |  | - |  | 55,247   
|                                     |  |           |  |   |  |          
|Goodwill on acquisition              |  | 8,944,753 |  | - |  | 8,944,753



6

TERRA NOSTRA TECHNOLOGY LTD.(FORMERLY KNOWN AS TERRA NOSTRA RESOURCES LTD.)(a Development Stage Company)Statement of Shareholders' Equity(Unaudited)



|                                                         | Common Stock |          
|-------------------------------------------------------- | ------------ | ---------
|                                                         | Shares       | Amount   
|Balance at December 31, 2000                             | 981          | 22,570   
|Issue of Common Stock                                    | 19           | 250      
|Net (loss) - year 2001                                   | -            | -        
|Balance at December 31, 2001                             | 1,000        | 22,820   
|Forward split at 7500:1                                  | 7,500,000    | 22,820   
|Issue of Common Stock                                    | 7,028,900    | 117,890  
|Proceeds due from the issue of common stock              | -            | (14,764) 
|Stock issued to acquire oil & gas leases                 | 40,000       | 10,000   
|Loss for the year                                        | -            | -        
|Balance at December 31, 2002                             | 14,568,900   | 135,946  
|Issue of Common Stock                                    | 15,000,000   | 9,000,000
|Reduction in proceeds due from the issue of common stock | -            | 14,764   
|Loss                                                     | -            | -        
|Cancellation of stock issued to acquire oil & gas leases | (40,000)     | (10,000) 
|Balance at June 30 , 2003                                | 29,528,900   | 9,140,710

The accompanying notes are an integral part of these unaudited financial statements

7

TERRA NOSTRA TECHNOLOGY LTD.(FORMERLY KNOWN AS TERRA NOSTRA RESOURCES LTD.)(A DEVELOPMENT STAGE COMPANY)

Notes to Unaudited Financial Statements

June 30, 2003

Note 1 - Management's Statement

The financial statements included herein have been prepared by Terra Nostra Technology Ltd. (the "Company") without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted as allowed by such rules and regulations, and the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the December 31, 2002, audited financial statements and the accompanying notes included in the Annual Report on Form 10-KSB. While management believes the procedures followed in preparing these financial statements are reasonable, the accuracy of the amounts are in some respect's dependent upon the facts that will exist, and procedures that will be accomplished by the Company later in the year.

The management of the Company believes that the accompanying unaudited financial statements contain all adjustments (including normal recurring adjustments) necessary to present fairly the operations and cash flows for the periods presented.

Note 2 - Summary of Significant Accounting Policies

Organization and Operations

The Company was incorporated as Renegade Recreational Rentals Inc. under the laws of the State of Nevada on February 7, 1994 for the purpose of renting jet boats. The Company's Charter was revoked on November 1, 1996 and subsequently re-instated on October 11, 2000. The Company's name was changed to Terra Nostra Resources Ltd. on January 25, 2002 and further changed to Terra Nostra Technology Ltd. on April 2, 2003. The Company acquired oil and gas assets in 1996 and 1997.

On March 26, 2003, the Company entered into a Share Exchange Agreement whereby it acquired all of the issued and outstanding shares of capital stock of Corporation CCIP Inc., a private Quebec, Canada corporation ("CCIP"), which consists of 100 Class A shares and 115,000 Class B shares. Under the terms of the acquisition, 15,000,000 common shares of the Company's Stock were issued to the shareholders of CCIP for a value of $9,000,000 ($0.60per share). The issuance and delivery of the Company's shares pursuant to the acquisition took place on April 7, 2003.

CCIP offers viral bio insecticides produced by them on the North American market. CCIP owns the rights on three viral bio insecticides products registered in Canada.

During June, 2003, the Company disposed of its interests in producing oil and gas properties located in Washington County, Colorado and exploration oil and gas leases in Rosebud County, Montana. The remaining leases have expired and the Company no longer has any oil and gas assets.

8

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this Amendment No. 1 to the quarterly report on Form 10-QSB to be signed on its behalf by the undersigned, thereunto duly authorized.

TERRA NOSTRA TECHNOLOGY LTD.

Date: September 4, 2003



By: /s/ Regis Bosse	
Name: Regis Bosse 
Title: President

9