Completion Continues at Cheyenne's Hawk 14-14

Cheyenne Energy reported 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.


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