Eastern Pacific to Buy Back 1 Million Shares

Eastern Pacific Energy Corp. said Monday it plans to buy back as much as 1 million shares of stock in the open market. The Brea provider of electric services said it believes the shares are undervalued.

The stock, which is traded over the counter, closed Monday at $1.03 a share, down 3 cents. The shares have lost about 41% of their value since the start of the year.