Cheyenne Energy Inc.
TSX VENTURE : CHY

Cheyenne Energy Inc.

November 17, 2005 15:57 ET

Cheyenne Grants Options

CALGARY, ALBERTA--(CCNMatthews - Nov. 17, 2005) - Cheyenne Energy Inc. (TSX VENTURE:CHY) ("Cheyenne" or the "Company") announced that the Board of Directors has granted options to acquire 200,000 common shares of the Company at an exercise price of $0.55 per share to the Company's Chief Financial Officer. The options will expire on November 14, 2010 and are exercisable one third per year commencing November 14, 2006. There are now outstanding options to purchase 200,000 of the Company's common shares, or approximately 1% of Cheyenne's issued and outstanding shares.

The Board of Directors of Cheyenne has determined that in order to attract and retain qualified executive and management, it has adopted a stock option plan. The plan will be available to directors, officers and employees that do not already have a three percent or greater ownership stake, either directly or indirectly, in the Company. Shareholder approval of the same will be sought at the next annual general meeting.

Cheyenne Energy Inc. is a public energy company engaged in the exploration for and production of crude oil and natural gas, primarily in Western Canada. Cheyenne's corporate strategy is to grow and develop oil and gas reserves through the drill bit and add value for its shareholders.

This news may contain forward-looking information. Actual future results may differ materially from those contemplated herein.

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

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