SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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 June 30, 2000

       [ ] Transition report under Section 13 or 15(d) of the Exchange Act

                         Commission file number 0-30285

                              ENERGY VENTURES INC.
        (Exact name of small business issuer as specified in its charter)

                                    Delaware
                         (State or other jurisdiction of
                         incorporation or organization)

                        (IRS Employer Identification No.)

             43 Fairmeadow Avenue, Toronto, Ontario, Canada M2P 1W8
               (Address of principal executive offices)(Zip Code)

                                 (416) 733-2736
                           (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,  and (2) has been
subject to such filing requirements for the past 90 days.
Yes [  ]  No [X]

As of August 10, 2000, the Registrant had 12,957,579  shares of its Common Stock
outstanding.

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

<PAGE>

                                     PART I
                              FINANCIAL INFORMATION

Item 1.  Financial Statements.

<PAGE>


                              Energy Ventures Inc.

                                   (Unaudited)
                           (Expressed in US Dollars)
                            Condensed Balance Sheets

<TABLE>
<S>                                                              <C>              <C>


                                                                   June 30,        September 30,
                          ASSETS                                     2000             1999
                                                                  (unaudited)         ----
                                                                  -----------

CURRENT ASSETS
       Cash and Short Term Deposits                               $ 227,431           $      -
       Accounts Receivable                                           38,192             27,150
       Refundable Investment Tax Credits                            108,328            113,486
       Prepaids Expenses                                             72,173             14,376
                                                                      -----              -----
          TOTAL CURRENT ASSETS                                      446,124            155,012
                                                                    -------            -------

LONG TERM ASSETS
       Capital Assets                                               436,893            413,376
       License and technology costs                                 323,834            353,822
                                                                     ------             ------
          TOTAL LONG TERM ASSETS                                    760,727            767,198
                                                                    -------            -------

          TOTAL ASSETS                                           $1,206,851          $ 922,210
                                                                  =========          =========

   LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
       Bank Indebtedness                                                  -           $  7,898
       Accounts payable and accrued liabilities                    $480,463            333,141
       Advances from related company                                 54,340             65,600
       Advances from director                                       201,989            238,982
       Debentures payable                                           506,826                  -
                                                                     ------             ------
          TOTAL CURRENT LIABILITIES                               1,243,618            645,621
                                                                    -------             ------

STOCKHOLDERS' EQUITY (DEFICIT)
       Preferred stock - par value $0.0001
             (authorized - 5,000,000 shares; issued and
             outstanding - 0 shares)                                      -                  -
       Common stock - $0.0001 par value (authorized -
          50,000,000 shares; issued and outstanding -
          12,957,579 and 12,637,579 shares)                       1,601,802          1,246,802
       Additional paid-in capital                                   690,856            165,481
       Deferred Compensation Charges                               (525,375)                 -
       Accumulated other comprehensive earnings (loss)               (3,525)           (11,373)
                                                                     ------           --------

           TOTAL EQUITY                                           1,763,758          1,400,910
                                                                  ---------
       Deficit                                                   (1,800,525)        (1,124,321)
                                                                 ----------         ----------
       Stockholders' Equity                                         (36,767)           276,589
                                                                    -------            -------
       TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                 1,206,851            922,210
                                                                  =========

</TABLE>

      See notes to condensed financial statements.

<PAGE>

                              Energy Ventures Inc.
                       Condensed Statements of Operations
                                   (unaudited)
                           (Expressed in US Dollars)

<TABLE>
<S>                                <C>                   <C>               <C>                 <C>

                                 Three months ended June 30,               Nine months ended June 30,
                                 ---------------------------               --------------------------
                                        2000              1999                  2000              1999
                                        ----              ----                  ----              ----

REVENUES                            $ 66,675            $6,612              $200,025           $ 8,023

EXPENSES

  Technology Expense                 107,126            54,800               359,079           192,972
  Administration Fees & Salaries      17,749            22,289                65,976            65,207
  Legal and Audit                     84,499               306               182,902            20,239
  Amortization                        27,892            21,257                72,830            61,183
  Professional Fees                    4,634             7,338                43,418            28,684
  Office and General                  21,840             4,451                43,565            14,752
  Financing Fees & Interest           51,120                 -                63,714                 6
  Occupancy Cost                       7,137             6,018                21,804            10,174
  Travel and Promotion                10,746             3,318                22,941             8,462
                                      ------             -----                ------             -----
TOTAL EXPENSES                       332,743           119,777               876,229           401,679

NET LOSS                            (266,068)         (113,165)             (676,204)         (393,656)

NET LOSS PER SHARE OF COMMON STOCK-
  BASIC AND DILUTED                  $(0.021)                                $(0.053)
                                ================                          ============

WEIGHTED AVERAGE NUMBER OF COMMON
  SHARES OUTSTANDING              12,814,356                              12,782,583
                                ================                          ============

</TABLE>

See notes to condensed financial statements.

<PAGE>

                              Energy Ventures Inc.
                       Condensed Statements of Cash Flows
                                   (unaudited)
                           (Expressed in US Dollars)

<TABLE>
<S>                                                              <C>            <C>



                                                               Nine months ended June 30,
                                                               ----------------------------
                                                                       2000            1999
                                                                       ----            ----

OPERATING ACTIVITIES
      Net loss                                                    $(676,204)     $ (393,656)
      Items not affecting cash:
      Legal Expense                                                 131,019               -
      Amortization                                                   72,830          61,183
             Net change in non-cash working capital
             balances related to operations                          92,621         (47,348)
                                                                   --------          ------
             Net cash used by operations                           (379,734)       (379,821)

INVESTING ACTIVITIES
      Capital Asset purchases                                       (66,359)         (2,647)
                                                                     ------         -------
 FINANCING ACTIVITIES
      Issuance of common stock                                      215,000         200,000
      Advances from related company                                 (11,260)         (1,970)
      Advances from director                                        (36,993)        199,536
      Debentures payable                                            506,826               -
                                                                    -------         -------

             Net cash from financing activities                     673,573         397,566

NET INCREASE IN CASH                                                227,480          15,098

FOREIGN CURRENCY TRANSLATION ADJUSTMENTS                              7,849         (17,041)

CASH (BANK INDEBTEDNESS) AT BEGINNING OF PERIOD                      (7,898)          2,772
                                                                     ------           -----

      CASH AT END OF PERIOD                                         227,431             829
                                                                  ==========        =======
Interest Paid                                                     $  28,589        $      6

</TABLE>

See notes to condensed financial statements.

<PAGE>


                              ENERGY VENTURES INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                  June 30, 2000

                                   (unaudited)

1.       Basis Of Presentation:
     The  interim  financial  statements  are  unaudited,  but in the opinion of
     management  reflect all  adjustments  necessary for a fair  presentation of
     results of such periods.  All such  adjustments  are of a normal  recurring
     nature.   The  results  of  operations  for  any  interim  period  are  not
     necessarily indicative of results for a full fiscal year.

     The  condensed  balance sheet as of September 30, 1999, is derived from the
     audited financial  statements but does not include all disclosures required
     by generally  accepted  accounting  principles.  The notes accompanying the
     financial statements in the Company's  Registration Statement on Form 10-SB
     for the year ended  September  30, 1999,  include  accounting  policies and
     additional  information pertinent to an understanding of both the September
     30, 1999, condensed balance sheet and the interim financial statements. The
     information  has not  changed  substantially  except  as a result of normal
     transactions  in the nine months ended June 30,  2000,  and as discussed in
     the following notes.

2.       Stock Transactions:
     During the three  months ended June 30, 2000,  the Company  issued  200,000
     shares of common  stock for $140,000 of legal  services and issued  100,000
     shares to a director and officer upon the exercise of stock options.

<PAGE>

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

                  The following  discussion  should be read in conjunction  with
the  financial  statements  and related  notes which are included  under Item 1.
Statements  made  below  which  are not  historical  facts  are  forward-looking
statements.   Forward-looking   statements   involve   a  number  of  risks  and
uncertainties  including,  but not limited to, general economic conditions,  our
ability  to  complete  development  and then  market our  products,  competitive
factors and other risk factors as stated in other of our public filings with the
Securities and Exchange Commission.

                  This  report is for the three and nine  month  interim  period
ended June 30, 2000. The reader is directed to the Company's  earlier Form 10-SB
filings for more information about the Company.  Accordingly,  this section will
primarily discuss the Company's position as of the filing date hereof.

Overview

                  Energy Ventures Inc.  (hereafter,  the "Company" or "EVI") was
formed in November  1996, to research,  develop and  commercialize  rechargeable
battery  technologies.  The  Company  has four core  battery  technologies  - 1)
Lithium  Ion ("LI")  (now  licensed to Pacific  Lithium  Limited  ("PLL") of New
Zealand),  2) Nickel Zinc ("NiZn"),  3) Zinc Carbon Bromine ("ZnCBr") and 4) the
Direct  Methanol Fuel Cell  ("DMFC"),  which  technology was acquired in October
1999. The company is currently  working on the development  and  optimization of
the latter three  technologies  with the highest priority being directed towards
the Direct Methanol Fuel Cell.

                  The Company's major focus is upon two areas - the research and
development  of the  Company's  Direct  Methanol  Fuel Cell  Technology  and the
Pre-Commercialization  of the  company's  Nickel  Zinc and  Carbon-Zinc  Bromine
technologies.  Costs re the  latter  project  are in  large  part  supported  by
Industrial  Research   Assistance  Program  through  the   Pre-Commercialization
contribution  agreement executed in March 2000. The Company recently accelerated
its DMFC activity by arranging with Sammer Power Systems, Inc. of New Jersey and
Sammer Engineering Gmbh of Austria to provide  demonstration  single cells and a
three  cell DMFC  cell  stack  using the  Company's  DMFC  technology.  Both are
expected to be available  for  demonstration  by December 31, 2000.  The company
expects to spend significant sums upon expanding its battery testing  capability
and has purchased and is refurbishing a pilot battery production line to further
expand its facilities at the Ottawa laboratory.  While there can be no assurance
that our business plan for the next year will be  successful,  the R&D programs,
strategic  alliances and targeted financing planned for the Company are expected
to  support  the  Company's  activities  until  significant  income  streams  of
royalties and license fees develop.

Comparative Disclosure

                  During the quarter ended June 30, 2000,  the Company was still
a  development  stage  company  and has  yet to  achieve  significant  revenues.
Revenues,  in the  quarter to June 30,  2000 and in the nine  months  then ended
($66,675 and $200,025,  respectively)  were entirely  earned from licensing fees
from PLL. Pursuant to the terms of the License  Agreement,  such revenues should
continue at the minimum rate of $100,000 per annum through March 2002. We expect

<PAGE>

revenues from PLL to increase once PLL  commences  selling LI cathode  materials
and  LI  batteries  containing  such  materials  thereby  generating  additional
royalties  for the  Company.  Other  revenue  sources  will not result until the
Company successfully  completes the  commercialization of its other technologies
and is able successfully to license them to battery manufacturers. These revenue
figures are  significantly  higher than for the comparative three and nine month
periods in 1999 ($6,612 and $8,023,  respectively) due entirely to the fact that
the PLL Agreement was not in effect during these comparative periods in 1999.

                  The Company's  expenses in the quarter ended June 30, 2000 and
in the nine months then ended totaled  $332,743 and $876,229,  respectively.  Of
those totals,  the most significant are the Company's  technology  expenses i.e.
expenses related to the research and development  cost of the company's  battery
technologies ($107,126 and $359,079,  respectively, for the three and nine month
periods  ended June 30,  2000).  These  expenses  essentially  doubled  from the
comparable  periods in 1999 which  reflects  the  Company's  continued  focus on
developing its products and expanding its product line.

                  Expenses other than technology costs have remained  relatively
static over the last two years with the exception of legal costs. Legal costs in
fiscal year 2000 are  substantially  higher than in prior years  ($77,953 in the
quarter and $169,308 year to date)  primarily  related to securities law matters
arising  from the  Company's  registration  with  the  Securities  and  Exchange
Commission and required compliance with the federal securities laws.  Technology
expenses  almost  doubled in 1998 and increased  again by  approximately  66% in
1999.  Technology expenses are expected to increase in 2000 by approximately 90%
as EVI  continues  to develop  its  facilities,  expertise  and  activities  and
continues to fund  research and  development  work  undertaken  on its behalf by
National Research Council of Canada.

                  The Company increased its laboratory staffing in April 2000 by
hiring four additional  employees and further increased  laboratory staffing can
be expected in the future,  provided sufficient funding can be obtained.  During
the quarter,  the Company also spent  approximately  $53,000 to acquire  battery
test equipment, a pilot battery manufacturing line that will be refurbished, and
increased computer facilities at its Ottawa plant.

                  In the  quarter  ended  June  30,  2000  the  Company  accrued
US$12,825 for the interest payable upon Cdn.  $750,000 of 10% debentures  issued
March 30, 2000 and due  September  30, 2000 and incurred  US$35,125 in financing
costs relative to such financing.

Liquidity

                  As of July 31, 2000, the Company had US$135,312  cash on hand.
The Company  currently  has  approximately  US$100,000  in monthly  expenses and
$8,000 in revenues.  Accordingly, the Company believes it has sufficient cash to
continue its current operations until late September 2000.

                  Since its  inception,  the activities of the Company have been
supported  from the personal  resources  of its  President  and Chief  Executive
Officer.  The  Company  is in need of new  capital  to  support  its  growth and
technology  research  and  development  costs.  The Company also must repay Cdn.
$750,000 of short term 10%  debentures  on  September  30,  2000  (approximately
US$507,000).  The Company does not currently have  sufficient  resources to make

<PAGE>

this payment.  EVI is currently,  through  Northern  Securities Inc. of Toronto,
seeking new capital in the range of US$4,000,000 toUS$6,750,000.  However, there
be no assurance that this or any other financing will be successful and if it is
not successful the Company's research and development activities will have to be
reduced and will certainly not  accelerate to the extent they  otherwise  would.
Should that  financing not be  successful,  the  President  and Chief  Executive
Officer intends to continue personally supporting the Company on a limited basis
with loans.

                                     PART II
                                OTHER INFORMATION

Item 1.  Legal Proceedings.

         None.

Item 2.  Changes in Securities.

         During the quarter  ended June 30,  2000,  the Company  issued  100,000
restricted  shares to its legal counsel in payment of legal services  performed,
and to be performed,  in the amount of $140,000. The Company also issued 100,000
shares upon the exercise of stock options to an officer and director.

Item 3.  Defaults Upon Senior Securities.

         None.

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

         None.

Item 5.  Other Information.

         None.

Item 6.  Exhibits and Reports on Form 8-K.

         (a)      6.4.1 Agreement with Industrial Research Assistance Program

                  27      Financial Data Schedule

         (b)      None.

<PAGE>

                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the Registrant
caused this Report to be signed on its behalf by the  undersigned  thereto  duly
authorized.

Date: August 18, 2000

                                             ENERGY VENTURES INC.


                                             /s/D. Wayne Hartford
                                             ---------------------
                                             D. Wayne Hartford
                                             Chief Executive Officer


                                              /s/Peter F. Searle
                                              ---------------------
                                              Peter F. Searle
                                              Vice President, Finance