Energy Services of America (OTC QB: ESOA), parent company of C.J. Hughes Construction Company and Nitro Construction Services, Inc., announced that the Company's Board of Directors authorized a share repurchase program, pursuant to which the Company may, from time to time, purchase shares of its common stock for an aggregate repurchase not to exceed 10% of outstanding shares, or 1,423,984 shares. The Program will begin on August 15, 2018, when the Company is out of blackout, and will end on August 15, 2019.

The Share Repurchase Program permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.

Douglas Reynolds, President, commented on the announcement. "This Share Repurchase Program demonstrates the Board's confidence in our Company's future and our commitment to maximizing value for our shareholders. By using our strong balance sheet to reduce the number of outstanding shares, we can increase shareholder value, while maintaining sufficient resources to fund operations."