Notice of Bankruptcy Sale of Energy Co-Generation Demand Response Equipment and Related Assets of Chapeau, Inc., D/B/A Bluepoint Energy

CARSON CITY, Nev.--(BUSINESS WIRE)--Debtor Chapeau, Inc. (“BluePoint Energy”) is negotiating a sale agreement and has filed a motion for order approving sale of assets free and clear of liens, claims and encumbrances and authorizing assumption and assignment of executory contracts in the United States Bankruptcy Court for the District of Nevada. In the case of In Re Chapeau, Inc., a Utah corporation d/b/a Blue Point Energy, Case Number BK-N-08-52080-GWZ (“Motion”), in which BluePoint Energy seeks to sell all of its Co-Generation and Demand Response assets, equipment and related assets at a hearing scheduled on November 24, 2008 at 2:00 p.m. in the United States Bankruptcy Court for the District of Nevada in Reno, Nevada, located at 300 Booth Street, 5^th Floor, Reno, Nevada 89509. A secured creditor has proposed a purchase of said assets for a credit bid in the amount of $5,500,000.00, subject to certain conditions, and subject to over bidding, at an auction to be held on November 24, 2008 at 2:00 p.m. in the aforementioned court. The Board of Directors of Bluepoint Energy has not yet accepted the purchase proposal. Interested parties may bid at the hearing for the purchase of the assets pursuant to a bidding process to be as follows:

Bidding Process at the Auction: The Auction will be conducted by the Debtor, subject to Court supervision and further orders, as follows:

(1)	Opening Bid. Buyer’s offer as embodied in the Purchase Agreement ($5,500,000) shall be deemed to be the Opening Bid;
(2)	First Overbid. The first overbid if any, will be the highest Competing Bid with a cash value that equals the offer contained in the Purchase Agreement plus Fifty Thousand Dollars ($50,000), and the Competing Bid must include a deposit in the form of certified funds in the amount of 10% of the Opening Bid, all subject to Bankruptcy Court approval;
(3)	Bid Increments. Each bid after the Competing Bid shall exceed the previous bid in present cash value by at least Fifty Thousand Dollars ($50,000);
(4)	Bidding Rounds. Each Qualified Bidder shall have a reasonable opportunity after the commencement of the Auction to make an Overbid. If no Overbids are made, the Debtor will close the Bidding and award the sale to the Qualified Bidder whose Bid has the highest present cash value as determined by the Debtor and approved by the court. If a Qualified Overbid is made, each Qualified Bidder will have a reasonable opportunity to make additional Overbids. Bidding rounds will continue until there are no further Qualifying Overbids, whereupon the last and highest Bid determined by the Debtor and approved by the Bankruptcy Court will be deemed the winning bid with respect to the Assets.

Interested parties may request additional information and documentation concerning the assets and the sale by contacting:

Steven P. Brandon, President
Chapeau, Inc. d/b/a BluePoint Energy
20 Industrial Parkway
Carson City, Nevada 89706
Phone: (775) 246-8111
Fax: (775) 246-8116
E-mail: sbrandon@bluepointenergy.com

OR

Godfrey Evans, General Counsel
Chapeau, Inc. d/b/a BluePoint Energy
1190 Suncast Lane, Suite Z
El Dorado Hills, CA 95762
Phone: (916) 939-8700
Fax: (916) 939-8705
E-mail: gevans@bluepointenergy.com

Copies of the Motion and Notice of Hearing, including the copy of the subject Asset Purchase Agreement, which will be the basis of Over Bidding, may be obtained by contacting BluePoint Energy’s bankruptcy attorney:

Stephen R. Harris Esq.
Belding, Harris & Petroni, Ltd.
417 West Plumb Lane
Reno, NV 89509
Phone: (775) 786-7600
Fax: (775) 786-7764
E-mail: steve@renolaw.biz