Cheyenne Energy Inc.

Cheyenne Energy Inc.

August 17, 2007 09:00 ET

Cheyenne Energy Inc.: Completion Continues at Hawk 14-14

CALGARY, ALBERTA--(Marketwire - Aug. 17, 2007) - Cheyenne Energy Inc. ("Cheyenne" or "The Company") (TSX VENTURE:CHY) announces that during completion of the well at 14-14-97-20 W5 the well began producing water from a zone below the primary reservoir. The water is coming up through channels in the cement behind the well casing. At this time, the Company is performing remedial work to close off the channels in order to fully evaluate the Gilwood sand. This work is scheduled for completion over the next few days with results to follow shortly thereafter.

After this well is completed, The Company will fully evaluate all of the Hawk Hills Gilwood sands in order to gather information for further drilling in the area and to announce its future drilling plans. The Company has a contiguous tract of 23 sections of land on a geologically defined structural high that trends both North East and South West with the primary target being the Gilwood zone. The Company has working interests of between 80% and 95% in these lands in northwestern Alberta.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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