Cheyenne Announces Flow-Through Share Private Placement Financing

Cheyenne Energy Inc. (TSX VENTURE:CHY) ("Cheyenne" or the "Company") is pleased
to announce that it has engaged Union Securities Ltd. of Calgary, Alberta, to
act as agent, on a best efforts basis, in respect to a flow-through share
private placement to raise gross proceeds of up to $1.0 million through the
issue of 3,333,333 common shares on a flow-through basis of the Company at $0.30
per share. A commission of 8.0% will be paid to Union Securities Ltd. as agent,
who will also receive broker options equal to 10% of the securities sold.
Proceeds will be used for further development of the Company's Hawk play in
northwestern Alberta (Township 97, Range 20, west of the 5th meridian), and for
working capital.


Cheyenne is a Calgary based oil and gas exploration and development company in
Western Canada. It has positioned itself as a strong junior oil and gas producer
through internal generation of core producing areas. The corporate strategy is
organic growth through the drill bit, maintain high working interests and
operatorship, develop core areas in geographic areas of expertise of management,
all in order to maximize shareholder value.


Cheyenne's shares are listed on the TSX Venture Exchange under the symbol CHY.

This press release contains forward-looking statements. These forward-looking
statements can generally be identified as such because of the context of the
statements including words such as the Company "believes", "anticipates",
"expects", "plans", "may", "estimates" or words of a similar nature. These
statements are based on current expectations and are subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Accordingly, readers are cautioned and no
assurances can be given that any of the events anticipated by the
forward-looking statements will occur, or if any of them do so, what benefits
that we will derive there from. The Company does not undertake any obligation to
publicly update or revise any forward-looking statements.

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