Washington, D.C. 20549					FORM 10-QSB				QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)				OF THE SECURITIES EXCHANGE ACT OF 1934
| For Quarter Ended January 31, 2008 |   | Commission File Number 333-132236 |
|------------------------------------|--------|-----------------------------------|
| Nevada                          |   | 98-0441419          |  |
|---------------------------------|--------|---------------------|--|
| (State or other jurisdiction of |   | (IRS Employer       |  |
| incorporation or organization)  |   | Identification No.) |  |
| 314 – 837 West Hastings St, Vancouver, BC |   | V6C 2T5    |  |
|------------------------------------------------|--------|------------|--|
| (Address of Principal Executive Offices)       |   | (Zip Code) |  |

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      

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act).

Yes         No   X  

**Applicable only to issuers involved in bankruptcy proceedings during the preceding five years**Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

Yes        No      

**Applicable only to corporate issuers**State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.  As of January 31, 2008 the Company had 1,600,000 shares of Common Stock outstanding.**Transitional Small Business Disclosure Format:**

Yes        No   X  

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**Table of Contents**
| **PART I     FINANCIAL INFORMATION** |                                                                                                                          |
|---------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|
| Item 1                                                        | Financial Statements............................................................................................         | 3 |
| Item 2.                                                       | Plan of Operation................................................................................................        | 8 |
| Item 3.                                                       | Controls and Procedures.....................................................................................             | 8 |
| **Part II   OTHER INFORMATION**                     |                                                                                                                          |
| Item 1.                                                       | Legal Proceedings...............................................................................................         | 10 |
| Item 2.                                                       | Changes in Securities and Use of Proceeds..........................................................                      | 10 |
| Item 3.                                                       | Defaults Upon Senior Securities...........................................................................               | 10 |
| Item 4.                                                       | Submission of Matters to a Vote of Securities Holders.........................................                           | 10 |
| Item 5.                                                       | Other Matters......................................................................................................      | 10 |
| Item 6.                                                       | Exhibits................................................................................................................ | 10 |
|                                                               | Signatures.............................................................................................................  | 11 |

2

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**Lodge Bay Oil and Gas Corp.					(An Exploration Stage Company)					FINANCIAL STATEMENTS					January 31, 2008**

**BALANCE SHEETS					STATEMENTS OF OPERATIONS					STATEMENTS OF CASH FLOWS					NOTE TO THE FINANCIAL STATEMENTS**

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**Lodge Bay Oil and Gas Corp.					(An Exploration Stage Company)					BALANCE SHEETS					(Unaudited)**

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|                                                                                                                                                                            |   | January 31,     |   | October 31,                  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|-----------------|---|------------------------------|
|                                                                                                                                                                            |   | 2008            |   | 2007                         |
|                                                                                                                                                                  |   |                 |   |                              |
| **ASSETS**                                                                                                                                                                 |   |                 |   |                              |
| **Current**                                                                                                                                                                |   |                 |   |                              |
|      Cash                                                                                                                                         | $ | -               | $ | 5                            |
|                                                                                                                                                                            |
|                                                                                                                                                                            | $ | -               | $ | 5                            |
| ========================================================================                                                                                                   |
|                                                                                                                                                                  |   |                 |   |                              |
|                                                                                                                                                                  |   |                 |   |                              |
| **LIABILITIES**                                                                                                                                                            |   |                 |   |                              |
|                                                                                                                                                                  |   |                 |   |                              |
| **Current**                                                                                                                                                                |   |                 |   |                              |
|      Accounts payable and accrued liabilities                                                                                                     | $ | 12,528          | $ | 8,142                        |
|      Due to related party                                                                                                                         |   | 229,056         |   | 236,338                      |
|                                                                                                                                                                            |
|                                                                                                                                                                            |   | 241,584         |   | 244,480                      |
|                                                                                                                                                                            |
|                                                                                                                                                                  |   |                 |   |                              |
| **STOCKHOLDERS’ DEFICIT**                                                                                                                                            |   |                 |   |                              |
|                                                                                                                                                                  |   |                 |   |                              |
| Common Stock                                                                                                                                                               |   |                 |   |                              |
|      Authorized:                                                                                                                                  |   |                 |   |                              |
|      90,000,000 common shares with a par value of $0.001 and						     10,000,000 preferred shares with $0.001 par value |   |                 |   |                              |
|                                                                                                                                                                  |   |                 |   |                              |
|      Issued and Outstanding:                                                                                                                      |   |                 |   |                              |
|           1,600,000 common shares (October 31, 2007: 1,600,000)                                                          |   | 1,600           |   | 1,600                        |
|      Additional paid-in capital                                                                                                                   |   | 59,400          |   | 59,400                       |
| Deficit Accumulated During the Exploration Stage                                                                                                                           |   |  (302,584) |   |     (305,475) |
|                                                                                                                                                                            |
|                                                                                                                                                                  |   |                 |   |                              |
|                                                                                                                                                                            |   | (241,584)       |   | (244,475)                    |
|                                                                                                                                                                            |
|                                                                                                                                                                  |   |                 |   |                              |
|                                                                                                                                                                            | $ | -               | $ | 5                            |
| ========================================================================                                                                                                   |

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**Lodge Bay Oil and Gas Corp. 					(An Exploration Stage Company)					STATEMENTS OF OPERATIONS					(Unaudited)**

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|                                                                                 |   |                   |   |                   |   | Cumulative from               |
|---------------------------------------------------------------------------------|---|-------------------|---|-------------------|---|-------------------------------|
|                                                                                 |   | Three monthsended |   | Three monthsEnded |   | November 22, 2004 (Inception) |
|                                                                                 |   | January 31,2008   |   | January 31,2007   |   | to January 31,2008            |
|                                                                       |   |                   |   |                   |   |                               |
| **EXPENSES**                                                                    |   |                   |   |                   |   |                               |
|      Foreign exchange (gain) loss                      | $ | (11,254)          | $ | -                 | $ | 33,545                        |
|      Impairment of oil and gas property                |   | -                 |   | -                 |   | 202,603                       |
|      Office and general                                |   | 89                |   | 480               |   | 8,097                         |
|      Professional fees                                 |   | 8,274             |   | 5,477             |   | 58,339                        |
|                                                                                 |   |
|                                                                       |   |                   |   |                   |   |                               |
| **NET (INCOME) LOSS**                                                           | $ | (2,891)           | $ | 5,957             | $ | 302,584                       |
| =============================================================================== |
| **  **                                                                |   |                   |   |                   |   |                               |
| **  **                                                                |   |                   |   |                   |   |                               |
| **BASIC AND DILUTED EARNINGS (LOSS)							PER SHARE**                           | $ | (0.00)            | $ | 0.00              |   |                               |
| ================================================================                |
|                                                                                 |   |                   |   |                   |   |                               |
|                                                                                 |   |                   |   |                   |   |                               |
| **WEIGHTED AVERAGE NUMBER OF							COMMON SHARES OUTSTANDING**                  |   | 1,600,000         |   | 1,600,000         |   |                               |
| ================================================================                |

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**Lodge Bay Oil and Gas Corp. 					(An Exploration Stage Company)					STATEMENTS OF CASH FLOWS					(Unaudited)**

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|                                                                                                                                                                                                       |        | Three months							ended                                                                                                         |   | Three months							ended                                       |   | Cumulative from							November 22,							2004 (Inception) |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------|---|----------------------------------------------------------------|---|-----------------------------------------------------------|
|                                                                                                                                                                                                       |        | January 31,2008                                                                                                                  |   | January 31,2007                                                |   | to January 31,2008                                        |
|                                                                                                                                                                                             |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Cash Flows from Operating Activities**                                                                                                                                                              |        |                                                                                                                                  |   |                                                                |   |                                                           |
| Net income (loss)                                                                                                                                                                                     | $      | 2,891                                                                                                                            | $ | (5,957)                                                        | $ | (302,584)                                                 |
| Adjusted for items not affecting cash:						     Foreign exchange (gain)loss for due to						       related party     |        | (11,254)                                                                                                                         |   | -                                                              |   | 33,545                                                    |
|      Impairment of oil and gas property                                                                                                                                      |   |                                                                                                                             |   |                                                           |   |   202,603                                            |
|      Change in non-cash working capital balance						       related to operations:                                                        |        |                                                                                                                                  |   |                                                                |   |                                                           |
|           Accounts payable and accrued liabilities                                                                                                  |        | 4,386                                                                                                                            |   |           (2,636) |   | 12,528                                                    |
|                                                                                                                                                                                                       |        |
| Net cash used in operations                                                                                                                                                                           |        | (3,977)                                                                                                                          |   | (8,593)                                                        |   | (53,908)                                                  |
|                                                                                                                                                                                                       |        |
|                                                                                                                                                                                             |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Cash Flows from Investing Activities**                                                                                                                                                              |        |                                                                                                                                  |   |                                                                |   |                                                           |
|      Oil and Gas Property                                                                                                                                                    |        | -                                                                                                                                |   | -                                                              |   | (247,402)                                                 |
|                                                                                                                                                                                                       |        |
| Net cash used in investing activities                                                                                                                                                                 |        | -                                                                                                                                |   | -                                                              |   | (247,402)                                                 |
|                                                                                                                                                                                                       |        |
|                                                                                                                                                                                             |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Cash Flows from Financing Activities**                                                                                                                                                              |        |                                                                                                                                  |   |                                                                |   |                                                           |
|      Capital stock issued                                                                                                                                                    |        | -                                                                                                                                |   | -                                                              |   | 61,000                                                    |
|      Due to related party                                                                                                                                                    |        | 3,972                                                                                                                            |   | 7,977                                                          |   | 240,310                                                   |
|                                                                                                                                                                                                       |        |
| Net cash provided by financing activities                                                                                                                                                             |        | 3,972                                                                                                                            |   | 7,977                                                          |   | 301,310                                                   |
|                                                                                                                                                                                                       |        |
|                                                                                                                                                                                             |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Decrease In Cash**                                                                                                                                                                                  |        | (5)                                                                                                                              |   | (616)                                                          |   | -                                                         |
| **  **                                                                                                                                                                                      |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Cash, Beginning**                                                                                                                                                                                   |        |                       5 |   | 720                                                            |   | -                                                         |
|                                                                                                                                                                                                       |        |
| **  **                                                                                                                                                                                      |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Cash, Ending**                                                                                                                                                                                      | $      |                       - | $ | 104                                                            | $ | -                                                         |
| ================================================================================                                                                                                                      |
| **  **                                                                                                                                                                                      |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **  **                                                                                                                                                                                      |        |                                                                                                                                  |   |                                                                |   |                                                           |
| **Supplementary Cash Flow Information**                                                                                                                                                               |        |                                                                                                                                  |   |                                                                |   |                                                           |
|      Cash paid for:                                                                                                                                                          |        |                                                                                                                                  |   |                                                                |   |                                                           |
|           Interest                                                                                                                                  | $      | -                                                                                                                                | $ | -                                                              | $ | -                                                         |
|           Income taxes                                                                                                                              | $      | -                                                                                                                                | $ | -                                                              | $ | -                                                         |
| ================================================================================                                                                                                                      |

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- the offer and sale of our capital stock;			 loans in addition to the $229,056 already borrowed from the Company’s president, Mr. Barry Swanson;			revenues from our working interests, if they ever materialize. 		
Funding from any or all of these sources will have to be sufficient to pay our day to day operational needs and then, in addition, supply necessary funds for acquisitions.  There is no guarantee that required funds will be available to us for these purposes.  The Company may participate in an additional Farmout agreement with Odin Capital in the next 12 months and additional funds would need to be raised through one of the methods listed above. Furthermore, the Company is researching and evaluating other business opportunities in North America.			The Company does not expect to purchase or sell any plant or significant equipment, nor increase our number of employees (currently the Company has no employees), during the next 12 months.Off Balance Sheet ArrangementsN/A**Item 3.  Controls and Procedures**(a) Evaluation of Disclosure Controls and Procedures.			The Company's chief executive officer and chief financial officer have evaluated the effectiveness of the design and operation of the Company's disclosure controls and  procedures (as defined in Exchange Act Rule 13a-15(e)) as of the end of the period covered by this quarterly report. Based on that evaluation, the chief executive officer and chief financial officer have concluded that the 

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		Company’s disclosures and procedures are effective. Also, based on that evaluation, the chief executive officer and chief financial officer have concluded that the Company's disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the Company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
		(b) Changes in Internal Controls.
		The Company’s chief executive officer and chief financial officer have concluded that there were not significant changes in the Company’s internal controls or other factors that could significantly affect those controls subsequent to the date of their evaluation. There were no control actions with regard to significant deficiencies and material weaknesses. There has been no material change in the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 of the Securities Exchange Act of 1934 that occurred during the Company’s fiscal quarter for which this report is filed that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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Part II   OTHER INFORMATION			Item 1.  Legal Proceedings
N/A
Item 2.  Changes in Securities and Use of Proceeds
N/A
Item 3.  Defaults Upon Senior Securities
N/A
Item 4.  Submission of Matters to a Vote of Securities Holders
N/A
Item 5.  Other Matters
N/A
Item 6.  Exhibits
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31.1

 

Certificate pursuant to Rule 13a-14(a)

32.1 

 

Certificate pursuant to 18 U.S.C. Section 1350

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.				 SIGNATURE                                     TITLE                                          DATE/s/ BARRY SWANSON                    President and Director                  March 12, 2008					(Principal Executive Officer,					Chief Financial Officer and				Chief Accounting Officer)

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