UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q


(Mark One)

[X]    Quarterly report under Section 13 or 15(d) of the Securities Exchange Act
       of 1934

       For the quarterly period ended  December 31, 2007

[ ]    Transition report under Section 13 or 15(d) of the Securities Exchange
       Act of 1934

       For the transition period from _______________ to _________________


                        Commission File Number: 001-32998


                        Energy Services Acquisition Corp.
                       ----------------------------------
             (Exact Name of Registrant as Specified in its Charter)

Delaware                                                   20-4606266
------------------------------                       -------------------------
(State or Other Jurisdiction of Incorporation          (I.R.S. Employer
or Organization)                                     Identification Number)

2450 First Avenue, Huntington, West Virginia                           25703
--------------------------------------------                        -----------
(Address of Principal Executive Office)                              (Zip Code)

                                 (304) 528-2791
                                ---------------
               (Registrant's Telephone Number including area code)

     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the  preceding  twelve  months (or for such shorter  period that the
Registrant  was required to file such  reports) and (2) has been subject to such
requirements for the past 90 days. YES X NO .

     Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large  accelerated  filer" in Rule 12b-2 of the Exchange  Act.  (Check
one):

Large Accelerated Filer [ ]   Accelerated Filer [ ]    Non-Accelerated Filer [X]

As of February 8, 2007, there were issued and outstanding 10,750,000 shares of
the Registrant's Common Stock.

     Indicate  by check mark  whether  the  Registrant  is a shell  company  (as
defined in Rule 12b-2 of the Exchange Act). YES  X     NO
                                               -----      ----


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

<page>


Part 1: Financial Information

Item 1. Financial Statements (Unaudited):

          Balance Sheets                                                      3

          Statements of Income                                                4

          Statements of  Stockholders' Equity                                 5

          Statements of Cash Flows                                            6

         Notes to Unaudited Condensed Financial Statements                    7

Item 2.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations                                               13

Item 3   Quantitative and Qualitative Disclosures about Market Risk          14

Item 4.  Controls and Procedures                                             14


Part II: Other Information

Item 1A. Risk Factors                                                        16

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds         16

Item 6.  Exhibits                                                            17

Signatures                                                                   18


                                       2
<PAGE>
                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                                 Balance Sheets

<TABLE>
<CAPTION>
                                                                                    December 31,        September 30,
                                                                                        2007                  2007
                                                                                   (Unaudited)
ASSETS
<S>                                                                                  <C>                  <C>
Cash                                                                                 $    470,410         $    756,782
Cash and Cash Equivalents in trust                                                     50,326,033           49,711,430
Cash held in trust from Underwriter                                                     1,032,000            1,032,000
Prepaid Expenses                                                                           22,163               26,447
                                                                             ------------------------------------------
Total Assets                                                                         $ 51,850,606         $ 51,526,659
                                                                             ==========================================

LIABILITIES AND STOCKHOLDERS' EQUITY

 Accrued Expenses                                                                    $    136,725         $    167,564
 Notes Payable Stockholder                                                                150,000              150,000
Due to Underwriter                                                                      1,032,000            1,032,000
                                                                             ------------------------------------------
Total Liabilities                                                                       1,318,725            1,349,564
                                                                             ------------------------------------------
Common Stock subject to Possible redemption
1,719,140 shares at redemption value                                                   10,263,000           10,143,000

Commitments

Stockholders' Equity
  Preferred stock, $.0001 par value
    Authorized 1,000,000 shares; none issued                                                    -                  ---
  Common Stock, $.0001 par value
    Authorized 50,000,000 shares
    Issued and outstanding 10,750,000 Shares, inclusive of 1,719,140 shares
       subject to possible redemption                                                         903                  903
  Additional  paid-in capital                                                          38,444,710           38,564,710
  Retained Earnings                                                                     1,823,268            1,468,482
                                                                             ------------------------------------------
Total  Stockholders' Equity                                                            40,268,881           40,034,095
                                                                             ------------------------------------------
Total Liabilities and Stockholders' Equity                                         $   51,850,606        $  51,526,659
                                                                             ==========================================
</TABLE>

The accompanying notes are an integral part of these financial statements.
                                       3
<Page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                              Statements of Income

<TABLE>
<CAPTION>

                                                                                    For the Period
                                                     For the three  For the three   from March 31,
                                                     months ended   months ended    2006 (inception)
                                                     December 31,   December 31,    To December 31,
                                                         2007           2006             2007
Operating Expenses:
<S>                                                        <C>            <C>              <C>
     Formation and operating costs                         47,169         48,570           403,143
     Franchise taxes                                       11,205         14,937            89,757
                                                     -------------  -------------   ---------------
Loss from operations before taxes                         (58,374)       (63,507)         (492,900)
Income from trust fund investments                        619,160        654,819         3,409,168
                                                     -------------  -------------   ---------------
Income before income taxes                                560,786        591,312         2,916,268
Income taxes                                              206,000        243,000         1,093,000
                                                     -------------  -------------   ---------------
Net Income                                                354,786        348,312         1,823,268
                                                     =============  =============   ===============
Weighted average shares outstanding - basic            10,750,000     10,750,000
                                                     =============  =============
Weighted average shares outstanding - diluted          13,193,218     11,966,082
                                                     =============  =============
 Net income per share- basic                                 0.03         $ 0.03
                                                     =============  =============
 Net income per share- diluted                               0.03         $ 0.03
                                                     =============  =============
</TABLE>


The accompanying notes are an integral part of these financial statements.
                                       4
<page>
                          Energy Services Acquisition Corp.
                          (A Development Stage Enterprise)
                 Statements of Changes in Stockholders' Equity


                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                  Statements of Changes in Stockholders' Equity
<TABLE>
<CAPTION>

                                              Common Stock                                    Earnings
                                         -------------------   Additional                     Accumulated
                                                               Paid in          Treasury      During the        Stockholders'
                                         Shares     Amount     Capital          Stock         Development Stage Equity
                                         -------------------   --------------   -----------   ------------------------------

Issuance of common stock to
 initial stockholders on
<S>                                      <C>         <C>         <C>           <C>            <C>                <C>
March 31, 2006 at $.01 Per share          2,500,000   $ 250         $ 24,750                                       $ 25,000

Return of 350,000 Shares on August 30, 2006
   by initial Shareholders                                         1,645,000    (1,645,000)                               -

Cancellation of Common Stock to Initial
   Shareholders                            (350,000)    (35)      (1,644,965)    1,645,000                                -

Sale of Private Placement  Warrants                                2,000,000                                      2,000,000

Sale of 8,600,000 units net of underwriter's
discount and offering expenses            8,600,000     860       46,697,634                                     46,698,494

Sale of underwriter option                                               100                                            100

Shares reclassified to "Common Stock  subject
  To possible redemption"                (1,719,140)   (172)      (9,988,028)                                    (9,988,200)

Net Income                                                                                           $ 87,420        87,420

                                         -------------------   --------------   -----------   ----------------  ------------
Balance at September 30, 2006             9,030,860     903       38,734,491             -             87,420    38,822,814

Additional  offering costs                                           (14,981)                                       (14,981)

Accretion relating to common stock subject to
   possible redemption                                              (154,800)                                      (154,800)

Net Income                                                                                          1,381,062     1,381,062

                                         -------------------   --------------   -----------   ----------------  ------------
Balance at September 30, 2007             9,030,860     903       38,564,710             -          1,468,482    40,034,095

Accretion relating to common stock subject to
   possible redemption                                              (120,000)                                      (120,000)

Net Income                                                                                            354,786       354,786
                                         -------------------   --------------   -----------   ----------------  ------------
Balance at December 31, 2007              9,030,860   $ 903     $ 38,444,710           $ -        $ 1,823,268   $ 40,268,881
                                         ===================   ==============   ===========   ================  ============

</TABLE>

The accompanying notes are an integral part of these financial statements.
                                       5
<page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                            Statements of Cash Flows
<TABLE>
<CAPTION>

                                                                                                          For the Period
                                                                     For the three    For the three       from March 31,
                                                                       Months Ended    Months Ended      2006 (inception)
                                                                      December 31,     December 31,       to December 31,
                                                                          2007             2006               2007
Cash flow from operating activities
<S>                                                                     <C>                <C>             <C>
Net Income                                                              $ 354,786          348,312         $ 1,823,268
  Adjustment to reconcile net income to net cash provided by (used)
   in operating activities:
         Changes in:
             Accrued Income and accretion on investments held in Trust Fu(614,603)        (235,601)         (1,354,033)
             Accrued Expenses and Prepaids                                (26,555)         231,967             114,562
             Other Assets                                                                  (72,669)
                                                                   ---------------  ---------------  ------------------
Net Cash (used in) provided by operating activities                    $ (286,372)       $ 272,009           $ 583,797
                                                                   ---------------  ---------------  ------------------

Cash flows from Investing Activities
Purchase of investments held in Trust Fund                            (10,543,000)     (10,113,000)       (101,618,000)
Proceeds from maturities of Investments held in Trust Fund             10,543,000       10,113,000          51,614,000
                                                                   ---------------  ---------------  ------------------
Net Cash (used in) Investing Activities                                         -                -         (50,004,000)
                                                                   ---------------  ---------------  ------------------
Cash Flows from Financing Activities
Proceeds from Public Offering                                                                               51,600,000
Proceeds from Private Placement of warrants                                                                  2,000,000
Proceeds from issuance of underwriting options                                                                     100
Proceeds from issuance of common stock to initial stockholders                                                  25,000
Loans from Stockholder                                                                                         375,000
Payment of Loan from Stockholder                                                                              (225,000)
Payment of Offering Costs                                                       -         (147,308)         (3,884,487)
                                                                   ---------------  ---------------  ------------------
Net Cash (used in) provided by Financing Activities                             -         (147,308)         49,890,613
                                                                   ---------------  ---------------  ------------------

Net (decrease) increase in cash and cash equivalents                     (286,372)         124,701             470,410

Cash and Cash Equivalents at beginning of Period                          756,782           77,381                   -
                                                                   ---------------  ---------------  ------------------
Cash and Cash Equivalents at end of Period                              $ 470,410        $ 202,082           $ 470,410
                                                                   ===============  ===============  ==================
Supplemental disclosure of non-cash financing activity:
      Accrued and unpaid offering costs                                       $ -         $ 77,381                 $ -
                                                                   ===============  ===============  ==================
      Income Taxes paid                                                 $ 217,500         $ 41,000           $ 981,875
                                                                   ===============  ===============  ==================
</TABLE>

The accompanying notes are an integral part of these financial statements.
                                       6
<page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements

1.       Organization, Business Operations and Significant Policies

Nature of Business

     Energy  Services  Acquisition  Corp.  (the  "Company") was  incorporated in
Delaware  on March 31,  2006 as a blank  check  company  whose  objective  is to
acquire a operating business or businesses.

     Activity through September 30, 2006 relates to the Company's  formation and
the public offering  described below.  The Company has selected  September 30 as
its fiscal year-end.  Activity from September 30, 2006 through December 31, 2007
has been limited to the  identification  and  analysis of potential  acquisition
candidates for the Company.

     The registration  statement for the Company's  initial public offering (the
"Public  Offering") (as described in note 2) was declared  effective  August 29,
2006. The Company completed the Public Offering on September 6, 2006.  Preceding
the completion of the Public Offering  certain  officers,  directors and initial
shareholders  of the Company  purchased an  aggregate  of 3,076,923  warrants at
$0.65  per  warrant  from the  Company  in a  private  placement  (the  "Private
Placement").  The warrants sold in the Private  Placement  were identical to the
warrants sold in the public offering, except that the Private Placement warrants
are not  registered  at this time.  The Company  received net proceeds  from the
Private Placement and the Offering of approximately $48,698,494 (note 2).

     The Company's  management has broad discretion with respect to the specific
application of the net proceeds of this Public Offering,  although substantially
all of the net  proceeds of this Public  Offering  are  intended to be generally
applied toward  consummating a business  combination with an operating  business
("Business  Combination").  Furthermore,  there is no assurance that the company
will be able to successfully affect a Business Combination.  Upon the closing of
the Public  Offering,  $50,004,000  (including  $1,032,000 for the  Underwriters
non-accountable  expense  allowance)  was deposited in a trust  account  ("Trust
Account") and invested in United  States  Government  Securities  defined as any
Treasury  Bill issued by the United  States having a maturity of one hundred and
eighty days or less or in money market funds meeting  certain  conditions  under
Rule 2a-7 promulgated under the Investment  Company Act of 1940. Such funds will
be invested in the manner outlined until the earlier of (i) the  consummation of
its first Business  Combination or (ii) liquidation of the Company.  The placing
of the funds in the Trust  Account may not protect  those funds from third party
claims against the Company.  Although the Company will seek to have all vendors,
prospective  target businesses or other entities it engages,  execute agreements
with the Company waiving any right,  title,  interest or claim of any kind in or
to any monies held in the Trust  Account,  there is no guarantee  that they will
execute such agreements.  If the Company liquidates prior to the consummation of
a Business Acquisition, the officers and directors shall under certain customary
circumstances,   be  personally  liable  to  pay  any  debts,   obligations  and
liabilities of the Company to various vendors,  prospective target businesses or
other entities that are owed money by it for services rendered or contracted for
or products  sold to it in excess of the  working  capital not held in the Trust
Fund.  Interest  or  earnings  from funds  invested  in the Trust  Account up to
$1,200,000  net of taxes may be used to pay for business,  legal and  accounting
due diligence on prospective acquisitions, continuing general and administrative
expenses,  and income taxes. The Company,  after signing a definitive  agreement
for the acquisition of a target business, is required to submit such transaction
for stockholder  approval.  In the event that stockholders owning 20% or more of
the shares sold in the Public Offering vote against the Business Combination and
exercise their conversion rights described below, the Business  Combination will
not be  consummated.  All of the  Company's  stockholders  prior  to the  public
offering,  including all of the officers and directors of the Company  ("Initial
Stockholders"),  have agreed to vote their  2,150,000  founding shares of common
stock in  accordance  with the vote of the  majority  in  interest  of all other
stockholders of the Company ("Public Stockholders") with respect to any Business
Combination.   After  consummation  of  a  Business  Combination,  these  voting
safeguards will no longer be applicable.

                                       7

<page>
                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements

     With respect to a Business  Combination  which is approved and consummated,
any  public  stockholder   presented  with  the  right  to  approve  a  Business
Acquisition  can instead  demand that his stock be  converted  into his pro rata
share of the Trust Fund upon the  consummation  of the  transaction  if he votes
against such transaction. Such Public Stockholders are entitled to receive their
per share  interest in the Trust Account  computed  without regard to the shares
held by the Initial Stockholders.

     The  Company's   Certificate  of   Incorporation   provides  for  mandatory
liquidation  of the Company in the event that the Company does not  consummate a
Business  Combination  within 18 months from the date of the consummation of the
Public  Offering,  or 24 months from the  consummation of the Public offering if
certain extension criteria have been satisfied. In the event of liquidation,  it
is likely that the per share value of the residual  assets  remaining  available
for  distribution  (including  Trust Fund  assets) will be less than the initial
public offering price per share in the Public Offering.

     We have  neither  engaged in any  business  operations  nor  generated  any
operating  revenue  to date.  Our only  activities  since  inception  have  been
organizational  activities  and  those  necessary  to  prepare  for  our  public
offering, and thereafter,  pursuing potential acquisitions of target businesses.
We will not generate any operating revenues until after completion of a business
combination.  We have  generated  non-operating  income in the form of  interest
income on our cash and cash equivalents and short term investments.

Interim Financial Statements

     The accompanying unaudited financial statements have been prepared pursuant
to the rules and regulations of the Securities and Exchange  Commission  ("SEC")
and  should  be  read  in  conjunction  with  the  Company's  audited  financial
statements and footnotes  thereto for the year ended  September 30, 2007 and for
the periods from inception (March 31, 2006) through  September 30, 2007 and 2006
included in the Company's Form 10-K filed December 19, 2007. Certain information
and footnote  disclosures  normally included in financial statements prepared in
accordance with accounting principles generally accepted in the United States of
America have been omitted pursuant to such rules and regulations.  However,  the
Company  believes  that the  disclosures  are  adequate to make the  information
presented not  misleading.  The  financial  statements  reflect all  adjustments
(consisting primarily of normal recurring  adjustments) that are, in the opinion
of management  necessary  for a fair  presentation  of the  Company's  financial
position and results of operations.  The operating  results for the period ended
December 31, 2007 are not  necessarily  indicative of the results to be expected
for any other interim period of any future year.

Investments Held in Trust

     The Company's restricted investments held in the Trust Fund at December 31,
2007 are comprised of an  institutional  money fund and a United States Treasury
Bill with a maturity  of January  31,  2008 in the  amounts of  $40,887,273  and
$10,470,760, respectively.

Income Taxes

     The Company  follows  Statement of Financial  Accounting  Standards No. 109
("SFAS No.  109),  "Accounting  for Income  Taxes" which  establishes  financial
accounting  and reporting  standards for the effects of income taxes that result
from  an  enterprise's  activities  during  the  current and preceding years. It
                                       8
<page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements


requires an asset and liability approach for financial  accounting and reporting
for income taxes.

Earnings  Per Share

     Net  income  per share is  computed  on the basis of the  weighted  average
number of common shares outstanding during the period.

     Basic net income per share is  computed  by dividing  income  available  to
common  shareholders by the weighted  average common shares  outstanding for the
period  including  shares subject to possible  redemption.  Diluted earnings per
share  reflects the  potential  dilution that could occur if securities or other
contracts to issue common stock were exercised or converted into common stock or
resulted in the  issuance of common stock that then share in the earnings of the
entity.

Fair Value of Financial Instruments

     The fair values of the  Company's  assets and  liabilities  that qualify as
financial  instruments  under SFAS No. 107 approximate their carrying amounts at
September 30, 2007 and at December 31, 2007.

Use of Estimates

     The  preparation of financial  statements in conformity  with United States
generally accepted  accounting  principles requires management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

     For purposes of  presentation  in the financial  statements,  cash and cash
equivalents  are defined as cash,  interest  bearing  deposits  and non interest
bearing  demand  deposits at financial  institutions  and trust  companies  with
maturities of less than one year.

Recently Issued Accounting Pronouncements

     Energy Services  Acquisition Corp. does not expect the adoption of recently
issued accounting  pronouncements to have a significant  impact on the Company's
results of operations, financial position or cash flows.

2.           Public Offering

     On September 6, 2006,  the Company sold  8,600,000  units  ("Units") in the
Public Offering at a price of $6.00 per Unit. Each Unit consists of one share of
the Company's common stock,  $.0001 par value,  and two Redeemable  Common Stock
Purchase  Warrants  ("Warrants").  Each Warrant  entitles the holder to purchase
from the  Company one share of common  stock at an  exercise  price of $5.00 per
share  commencing on the later of the  consummation by the Company of a Business
Acquisition,  as  defined  below,  or one  year  after  the  Effective  Date and
terminating  on the fifth  anniversary of the date of the Public  Offering.  The
Company may redeem the Warrants  for a redemption  price of $0.01 per Warrant at
any time if notice of not less than 30 days is given and the last sale  price of
the Common Stock has been at least $8.50 on 20 of the 30 trading days  ending on

                                       9
<page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements

the third day prior to the day on which notice is given. Separate trading of the
warrants and the share of common stock began on or about October 3, 2006.

     For the  warrants,  the Company is only required to use its best efforts to
cause a registration  statement  covering issuance of the shares of common stock
underlying the warrants to be declared  effective and, once  effective,  only to
use  its  best  efforts  to  maintain  the  effectiveness  of  the  registration
statement.  The Company will not be obligated to deliver  securities,  and there
are  no  contractual   penalties  for  failure  to  deliver  securities,   if  a
registration  statement is not effective at the time of exercise.  Additionally,
in no event is the Company obligated to settle any warrant, in whole or in part,
for cash in the event it is unable to deliver  registered shares of common stock
and,  if it is unable to do so,  the  warrants  could  expire  unexercised.  The
holders of  warrants do not have the rights or  privileges  of holders of common
stock,  including any voting rights,  until such holders exercise their warrants
and receive shares of the Company's common stock.

     In connection with the offering,  the Company paid the  underwriters of the
Public  Offering an  underwriting  discount  of 6% of the gross  proceeds of the
Public Offering  ($3,096,000) and a  non-accountable  expense allowance of 2% of
the gross proceeds ($1,032,000).  However, the underwriters have agreed that the
expense  allowance  amount will be placed in the Trust Account until the earlier
of the  completion of a business  combination  or the  liquidation  of the Trust
Account.  In the event that the business  combination  is not  consummated,  the
underwriter will forfeit the 2.0% being deferred.

     The Company  also issued to the  underwriter  at the time of closing of the
Offering a unit purchase option, for $100, to purchase up to 450,000 units at an
exercise price of $7.50. The unit purchase option shall be exercisable any time,
in  whole  or in  part,  between  the  first  anniversary  date  and  the  fifth
anniversary date of the Public Offering.

     For the  option,  the Company is only  required to use its best  efforts to
cause  a  registration  statement  covering  the  resale  of the  units  and the
securities  comprising  the  units  and,  once  effective,  only to use its best
efforts to maintain the effectiveness of the registration  statement.  There are
no contractual penalties for failure to effect the registration of the units and
the securities comprising the units.  Additionally,  in no event, is the Company
obligated to settle the option, the units or the warrants included in the units,
in  whole  or in  part,  for  cash in the  event  it is  unable  to  effect  the
registration of the units and the securities comprising the units. The holder or
holders of the options do not have the rights or privileges of holders of common
stock,  including any voting rights,  until such holder or holders  exercise the
options and receive shares of the Company's common stock.

     The  Company  accounted  for the fair  value of the unit  purchase  option,
inclusive  of the  receipt  of $100 cash  payment,  as an  expense of the Public
Offering  resulting in a charge directly to  stockholders'  equity.  The Company
estimated the fair value of this unit purchase  option at $1,642,500  ($3.65 Per
Unit) using a  Black-Scholes  option pricing  model.  The fair value of the unit
purchase  option granted to the underwriter is estimated as of the date of grant
using the  following  assumptions:  (1) expected  volatility of 75.7 %, (2) risk
free interest rate of 5.1 % and (3) expected life of 5 years.

3.       Commitments

     The Company presently occupies office space provided by an affiliate of one
of the Company's  executive  officers.  Such affiliate has agreed that until the
Company consummates a Business  Combination,  it will make such office space, as
well as certain office and secretarial services available to the Company, as may
be required by the Company from time to time. The Company has agreed to pay such
affiliate  up to $5,000 per month for  reimbursement  of  expenses  expended  on
behalf of the Company commencing on the date of the effective date of the Public
Offering.  Energy Services  Acquisition  Corp. (A Development  Stage Enterprise)
Notes to the Financial Statements

                                       10
<page>

                       Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements

     Pursuant to letter  agreements  with the Company and the  Underwriter,  the
Initial  Stockholders  have  waived  their right to receive  distributions  with
respect to their founding shares upon the Company's liquidation.

     The Company's Initial Stockholders purchased in the aggregate, 3,076,923 of
the  Warrants  from  the  Company  at a  purchase  price  of  $.65  per  Warrant
($2,000,000 in the aggregate) in a private  placement.  These warrants,  and the
warrants  issued as part of the Units in the Public  Offerings,  do not have any
liquidation rights.

     The Initial  Stockholders are entitled to registration  rights with respect
to their founding shares  pursuant to an agreement  signed on the effective date
of the Public Offering. The Holders of the majority of these shares are entitled
to make up to two demands that the Company register these shares at any time and
from time to time,  commencing  with the date the initial  shares are  disbursed
from the escrow  account.  In addition,  the Initial  Stockholders  have certain
"piggyback"  registration rights on the registration statements filed subsequent
to the release date from escrow.

     At any time and from time to time after the  release  date from  escrow and
prior to the fifth  anniversary date hereof,  the holders of at least 51% of the
Registrable  Securities  initially held by the underwriters may make two written
demands for a Demand Registration.

4.       Note Payable

     Prior to the offering, the Company issued an unsecured non-interest bearing
promissory  note for  $150,000  to  Marshall  T.  Reynolds,  Chairman  and Chief
Executive Officer. The note was repaid on September 6, 2006 from the proceeds of
the Public  Offering.  On September  6, 2006,  Mr.  Reynolds  loaned the Company
$150,000.  The loan will be repaid without  interest from working capital and is
also unsecured.

5.       Preferred Stock

     The Company is authorized to issue 1,000,000 shares of preferred stock with
such designations,  voting and other rights and preferences as may be determined
from time to time by the Board of Directors.

6.       Common Stock

     On March 31,  2006,  the  Company  issued  2,500,000  shares to the initial
stockholders.  On August  30,  2006 the  Company  entered  into an  underwriting
agreement with respect to the public sale of up to 8,600,000 units, reflecting a
reduction in the size of the Public Offering from 10,000,000 units as previously
contemplated to 8,600,000  units. In connection with such  modification,  and in
order to maintain  the  percentage  ownership of its  stockholders  prior to the
Public Offering, the Company's initial stockholders surrendered for cancellation
an  aggregate  of 350,000  shares of common  stock.  On the date the shares were
surrendered,  management determined the fair value of the Company's common stock
to be $4.70 per share.

7.       Concentration of Credit Risk

     At December  31,  2007,  the  Company  maintained  a checking  account at a
financial institution, the balance of which exceeded the federally insured limit
by $664,395 at September 30, 2007 and by $609,117 at December 31, 2007.

                                       11
<page>

                        Energy Services Acquisition Corp.
                        (A Development Stage Enterprise)
                        Notes to the Financial Statements


8.       Income Taxes

     Energy Services  Acquisition Corp. (ESA) uses the liability  method,  where
deferred tax assets and liabilities are determined  based on the expected future
tax consequences of temporary differences between the carrying amounts of assets
and  liabilities for financial and income tax reporting  purposes.  There are no
timing  differences and therefore no deferred tax asset or liability at December
31, 2007. There are no net operating loss carry forwards at December 31, 2007.

         At  December  31, 2007, income tax expense consisted of the following:
                         Three months         Three months      March 31, 2006-
                        ended December 31,   ended December 31,   December 31,
                             2007                  2006               2007
Taxes currently payable
     Federal               $166,000           $ 43,000            $  893,000
     State                   40,000            200,000               200,000
                        ------------         ----------           -----------
Total                      $206,000           $243,000            $1,093,000
                        ============         ==========           ===========


The Company is incorporated in Delaware and is subject to franchise taxes, which
are shown as a component of operating expenses.

9.       Subsequent Event

     On January 24, 2008  Energy  Services  Acquisition  Corp.  (ESA)  announced
separate  agreements  to acquire two  companies,  S.T.  Pipeline  and  GasSearch
Drilling  Services  (GDS).  Pursuant to the agreement to acquire S.T.  Pipeline,
shareholders  of S.T.  Pipeline  shall have a right to receive up to $15,200 per
share in cash,  or $19.0  million in the  aggregate,  subject to a reduction  to
reflect the book value of certain assets and a further reduction of $3.0 million
that  will be paid  to S.T.  Pipeline  shareholders  on a  deferred  basis.  The
agreement  to Acquire  GDS calls for the  Shareholder  of GDS to  receive  Stock
valued at $3.5 million based upon the arithmetic average of the closing price of
Energy  Services common stock as reported on the American Stock Exchange for the
five   consecutive   trading  days  beginning  three  trading  days  before  the
announcement  of the GDS  Acquisition,  $2.5  million  dollars in cash and $17.5
million  in  cash  to pay  GDS'  current  debt  and  capital  expenditures.  The
transactions closing is conditioned on receipt of ESA shareholders  approval and
holders of less than 20% of the shares of Energy  Services  common  stock voting
against the  transaction  and electing to convert their Energy  Services  common
stock  into cash from the trust  fund  established  in  connection  with  Energy
Services initial public offering, among other conditions.

     On February 12, 2008, ESA was advised that COG Finance  Corporation elected
to  exercise  an option to acquire  GDS  pursuant  to a  provision  in a finance
agreement  between COG Finance and GDS. Energy  Services is currently  assessing
the viability of proceeding with this transaction.

     On February 13,  2008,  ESA entered into a letter of intent to acquire C.J.
Hughes Construction Company, Inc. C.J. Hughes is an underground utility services
company located in Huntington,  West Virginia.  C.J. Hughes may be considered an
affiliate of ESA since  Marshall T.  Reynolds and Neal Scaggs are  shareholders,
and Edsel R.  Burns is the  President  and a  shareholder  of C.J.  Hughes.  Mr.
Reynolds is the Chairman of the Board,  Chief Executive Officer and Secretary of
ESA. Mr. Scaggs and Mr. Burns are directors of ESA.

                                       12

<page>

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

Forward looking Statements

The statements  discussed in this Report include forward looking statements that
involve risks and uncertainties, including the timely delivery and acceptance of
the  Company's  products and the other risks  detailed  from time to time in the
Company's reports filed with the Securities and Exchange Commission.

The  following  discussion  should  be read in  conjunction  with the  Company's
unaudited financial statements and footnotes thereto contained in this quarterly
report filed on Form 10-Q and the Company's audited financial statements and the
footnotes thereto for the year ended September 30, 2007 and for the periods from
inception  (March 31,  2006) to  September  30,  2007 and 2006  included  in the
Company's Annual Report on Form 10-K filed on December 19, 2007.

The  Company  was  formed  on March 31,  2006 to serve as a vehicle  to effect a
merger,  capital stock  exchange,  asset  acquisition or other similar  business
combination  with an  entity or  entities  that have  operating  businesses.  We
completed our initial public  offering  ("IPO") on September 6, 2006. Our entire
activity from inception through consummation of the IPO on September 6, 2006 was
to  prepare  for and  complete  our IPO.  Since the  consummation  of our IPO on
September  6, 2006,  our activity  has been  limited to the  identification  and
analysis of potential acquisition candidates for the Company.

We are  currently in the process of  evaluating  and  identifying  targets for a
business combination. We intend to utilize cash derived from the proceeds of our
IPO, our capital stock, debt or a combination of cash, capital stock and debt in
effecting a business combination.

Results of Operations

Net income for the year to date and quarter ended December 31, 2007 was $354,786
, which  consisted of interest from the trust fund totaling  $619,160  offset by
$58,374 of expenses,  $44,790 of which related to formation and operating  cost,
$2,379  of  which  related  to due  diligence  expenses  relating  to  potential
acquisitions,  $11,205  relating to Delaware  franchise  tax and income taxes of
$206,000.  This income compares to an income of $348,312 for the same period the
prior year which  consisted of interest  from the trust fund  totaling  $654,819
offset by  $63,507  of  expenses,  $30,170 of which  related  to  formation  and
operating cost,  $18,400 of which related to due diligence  expenses relating to
potential  acquisitions,  $14,937 relating to Delaware  franchise tax and income
taxes of $243,000.

Net income from inception  (March 31, 2006) to December 31, 2007 was $1,823,268,
which  consisted  of  interest  income  from the trust  fund and other  interest
totaling  $3,409,168  which was offset by $492,900 of expenses.  $307,567 of the
expenses  related to  formation  and  operating  costs,  $95,576  related to due
diligence  expenses  relating  to  potential  acquisitions,  $89,757  related to
Delaware franchise tax and income taxes of $1,093,000.

Financial Condition

From September 30, 2007 to December 31, 2007, the assets of Energy Services grew
from  $51,526,659  to  $51,850,606.  This  growth  was driven  primarily  by the
increase  in Cash  and  Cash  Equivalents  held in trust  which  increased  from
$49,711,430  at September  30, 2007 to  $50,326,033  at December 31, 2007 due to
income earned on the funds held in trust.  Liabilities  decreased  slightly from
$1,349,564  at  September  30, 2007 to  $1,318,725  due to a pay down of accrued
liabilities.  The Common Stock  subject to possible  redemption  increased  from
$10,143,000  at September  30, 2007 to  $10,263,000  at December 31, 2007.  This
increase  was due to the  increase  in the value per share of the funds  held in
trust. Equity increased from $40,034,095 at September 30, 2007 to $40,268,881 at
December 31, 2007.

                                       13
<page>

Liquidity and Capital Resources

We consummated our initial public offering on September 6, 2006.  Gross proceeds
from our initial public offering were $51,600,000. We paid a total of $4,128,000
in underwriting  discounts and commissions,  and approximately $789,000 was paid
for costs and expenses related to the offering. After deducting the underwriting
discounts and commissions and the offering  expenses,  the total net proceeds to
us from the offering that were deposited into a trust fund were $48,972,000, (or
approximately  $5.69 per unit sold in the offering).  An additional  $1,032,000,
representing  the  underwriter's  non-accountable  expense  allowance,  was also
placed  in  the  trust   account.   As  of  December  31,  2007,   approximately
$50,326,033(or approximately $5.85 per share sold in the offering) is being held
in the trust account.  We intend to use substantially all of the net proceeds of
the offering to acquire a target business.  To the extent that our capital stock
is used in whole or in part as consideration  to effect a business  combination,
the  proceeds  held in the  trust  fund as well as any other  net  proceeds  not
expended  will be used to finance the  operations  of the target  business.  Our
working capital will be generated solely from interest earned on the amount held
in trust.  We are limited to  $1,200,000 of such interest (net of taxes) to fund
working capital. We believe the interest earned on the amount held in trust will
be sufficient to fund our operations.  From September 6, 2006 through  September
6, 2008, we anticipate  approximately $350,000 of expenses for legal, accounting
and other expenses  attendant to the due diligence  investigations,  structuring
and  negotiating  of a business  combination,  $240,000 for expenses for the due
diligence and  investigation  of a target  business,  $120,000 in  reimbursement
expenses to Chapman  Printing Co. ($5,000 per month for two years),  $110,000 of
expenses in legal and accounting fees relating to our SEC reporting  obligations
and $305,000  for general  working  capital that will be used for tax  payments,
miscellaneous expenses and reserves,  including  approximately $100,000 (through
January 1, 2008) for director and officer liability  insurance  premiums.  We do
not believe we will need to raise  additional  funds  following this offering in
order to meet the expenditures required for operating our business.  However, we
may need to raise  additional funds through a private offering of debt or equity
securities if such funds are required to consummate a business  combination that
is presented  to us. We would only  consummate  such a financing  simultaneously
with the consummation of a business combination.

In connection with our initial public offering,  we issued to the  underwriters,
for $100,  an option  to  purchase  up to a total of  450,000  units.  The units
issuable  upon  exercise of this  purchase  option are identical to the units we
sold in our initial  public  offering  except that the warrants  included in the
option have an exercise price of $6.25. We estimated that the fair value of this
option was  approximately  $1,642,500  ($3.65 per unit  underlying  such option)
using a Black-Scholes option-pricing model. The fair value of the option granted
to the  underwriter  was  estimated as of the date of grant using the  following
assumptions:  (1) expected  volatility of 75.7%, (2) risk-free  interest rate of
5.1% and (3) expected life of five years.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Market risk is the sensitivity of income to changes in interest  rates,  foreign
exchanges,  commodity prices,  equity prices, and other  market-driven  rates or
prices.  We are not presently  engaged in and, if a suitable  business target is
not identified by us prior to the prescribed liquidation date of the trust fund,
we may not engage in, any substantive commercial business.  Accordingly,  we are
not and,  until such time as we consummate a business  combination,  we will not
be, exposed to risks associated with foreign exchange rates,  commodity  prices,
equity prices or other  market-driven  rates or prices.  The net proceeds of our
initial public  offering held in the trust fund have been invested only in money
market funds meeting certain  conditions under Rule 2a-7  promulgated  under the
Investment  Company Act of 1940. Given our limited risk in our exposure to money
market funds, we do not view the interest rate risk to be significant.

Item 4.  Controls and Procedures

Under the supervision and with the  participation  of our management,  including
our Chief  Executive  Officer and Chief  Financial  Officer,  we  evaluated  the
effectiveness  of the  design  and  operation  of our  disclosure  controls  and
procedures  (as defined in Rule 13a-15(e)  under the Securities  Exchange Act of
1934) as of the end of the  period  covered  by this  report.  Based  upon  that

                                       14
<page>

evaluation,  the Chief Executive  Officer and Chief Financial  Officer concluded
that,  as of the end of the  period  covered  by  this  report,  our  disclosure
controls and procedures were effective to ensure that information required to be
disclosed in the reports that Energy Services Acquisition Corp. files or submits
under the Securities  Exchange Act of 1934, is recorded,  processed,  summarized
and reported, within the time periods specified in the SEC's rules and forms.

There has been no change in Energy Services Acquisition Corp.'s internal control
over  financial  reporting  during  Energy  Services  Acquisition  Corp.'s first
quarter  of fiscal  year 2008 that has  materially  affected,  or is  reasonably
likely to  materially  affect,  Energy  Services  Acquisition  Corp.'s  internal
control over financial reporting.


                                       15

<page>

                                     PART II

                                OTHER INFORMATION



ITEM 1A. Risk Factors

Please see the information  disclosed in the "Risk Factors"  section of our Form
10-K as filed with the Securities and Exchange  Commission on December 19, 2007,
and which is incorporated herein by reference.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds.

     (a) Prior to completing  our public  offering on September 6, 2006, we sold
the following shares of common stock without  registration  under the Securities
Act of 1933, as amended:
<TABLE>
<CAPTION>

                      Name                          Number of Shares                Relationship to Us
-------------------------------------------------------------------------------------------------------------
<S>                                                     <C>            <C>
Marshall T. Reynolds.......................             537,500        Chairman of the Board, Chief Executive
                                                                       Officer and Secretary
Jack M. Reynolds...........................             430,000        Director, President and Chief Financial Officer
Edsel R. Burns.............................             537,500        Director
Neal W. Scaggs.............................             107,500        Director
Joseph L. Williams.........................             107,500        Director
Douglas Reynolds...........................             430,000        (1)
</TABLE>
-------------------
(1)  Douglas Reynolds is the son of Marshall T. Reynolds and the brother of Jack
     M. Reynolds.

     Such shares were issued in connection with our organization pursuant to the
exemption from  registration  contained in Section 4(2) of the Securities Act as
they were sold to  sophisticated,  wealthy  individuals or entities.  The shares
issued to the  individuals  and entities  above were sold at a purchase price of
approximately $0.01 per share.

     On April 5, 2006, we entered into a warrant  placement  agreement  with our
initial stockholders for the sale of the following warrants without registration
under the Securities Act of 1933, as amended:
<TABLE>
<CAPTION>

                                                         Number of
                        Name                             Warrants                   Relationship to Us
---------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>            <C>

Marshall T. Reynolds..............................       2,692,303              Chairman of the Board, Chief Executive
                                                                                 Officer and Secretary
Jack M. Reynolds..................................          76,924              Director, President and Chief Financial Officer
Edsel R. Burns....................................          76,924              Director
Neal W. Scaggs....................................          76,924              Director
Joseph L. Williams................................          76,924              Director
Douglas Reynolds..................................          76,924              (1)
</TABLE>
-----------------
(1)  Douglas Reynolds is the son of Marshall T. Reynolds and the brother of Jack
     M. Reynolds.


                                       16
<page>

     A total of 3,076,923  warrants at a price of $0.65 per warrant,  generating
total gross  proceeds of $2,000,000  were sold  pursuant to the  exemption  from
registration  contained in Section 4(2) of the  Securities Act as they were sold
to  sophisticated,  wealthy  individuals or entities.  Each warrant entitles the
holder to purchase from us one share of our common stock at an exercise price of
$5.00.

     (b) On  September  6,  2006,  we closed  our  initial  public  offering  of
8,600,000  units.  Each unit  consisted of one share of our common stock and two
warrants, each to purchase one share of our common stock at an exercise price of
$5.00 per  share.  The units were sold at an  offering  price of $6.00 per unit,
generating  gross  proceeds of  $51,600,000.  The  managing  underwriter  in the
offering  was Ferris,  Baker Watts,  Incorporated.  The  securities  sold in the
offering were  registered  under the  Securities  Act of 1933 on a  registration
statement on Form S-1 (No.  333-133111).  The Securities and Exchange Commission
declared the registration statement effective on August 30, 2006.

     We paid a total of $4,128,000 in  underwriting  discounts and  commissions,
including $1,032,000 for the underwriters'  non-accountable expense allowance of
2.0 % of the gross  proceeds,  and  approximately  $774,000  for other costs and
expenses related to the offering. After deducting the underwriting discounts and
commissions and the other offering  expenses,  the total net proceeds to us from
the offering that were  deposited  into a trust fund were  $48,972,000.  The net
proceeds  deposited  into the trust fund remain on deposit in the trust fund and
have earned $3,391,444 in interest and dividends through December 31, 2007.

     (c) Energy Services  Acquisition Corp. did not repurchase any shares of its
common stock during the relevant period.





ITEM 6. Exhibits



  31.1    Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of
          the Securities Exchange Act of 1934, as amended,  as adopted pursuant
          to Section 302 of the Sarbanes-Oxley Act of 2002
  31.2    Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of
          the Securities Exchange Act of 1934, as amended,  as adopted pursuant
          to Section 302 of the Sarbanes-Oxley Act of 2002
   32     Certification of Chief Executive Officer and Chief Financial Officer
          pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
          of the Sarbanes-Oxley Act of 2002



                                       17

<page>

                                   SIGNATURES

     Pursuant to the  requirements of Section 13 of the Securities  Exchange Act
of 1934,  the  Company has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.


                                       ENERGY SERVICES ACQUISITION CORP.


Date: February 14, 2008              By: /s/  Marshall T. Reynolds
                                         ------------------------------------
                                         Marshall T. Reynolds
                                         Chairman and Chief Executive Officer
                                         (Principal Executive Officer)



Date: February 14, 2008              By: /s/ Jack M. Reynolds
                                         ------------------------------------
                                         Jack M. Reynolds
                                         President and Chief Financial Officer
                                         (Principal Financial and  Accounting
                                           Officer)


                                       18