A short view on EPOC:
When one actually examines calories burned during the post-exercise period it is relatively small. Some people believe that the EPOC effect is sufficiently small and that it does not have a major role in the control of weight loss by itself. I dont agree when one considers the entire picture.
IF you combine EPOC and the entire exercise session with proper diet--this combination--increases calories burned--and CAN increase weight loss--with proper diet.
There are several things which influence EPOC: (resynthesis of creatine phosphate in muscle, lactate removal, restoration of muscle and blood oxygen stores, elevated body temperature, post exercise elevation of heart rate and breathing, elevated hormones, and so on and so forth, etc).
I pulled this from one of my OneNote sections: (I dont recall the source)
In one study researchers examined the post-exercise oxygen consumption of strength training exercise to increase metabolism. (Lets save the metabolism debate, shall we

)
Metabolic rate was measured for nine subjects after 40 minutes of cycling (80percent of maximal heart rate), 40 minutes of circuit training (50% of individuals' 1 RM x 15 repetitions for 4 sets), 40 minutes of heavy resistance lifting (80-90% of 1 RM x 3-8 repetitions x 3 sets), and a control interval.
All forms of exercise increased the metabolic rate immediately after exertion. For circuit training and heavy resistance lifting, the metabolism increase was also significant 30 minutes after exertion. The absolute total increment in caloric use after exertion was comparable among circuit training, heavy lifting, and cycling. However, cycling alone was far less than both forms of weight training.
EDIT: This is a rather short study....so