Cheyenne Energy Acquire Acreage in Alberta Lease Sale

Cheyenne Energy has successfully acquired 1,280 acres (net 1,024 acres) of exploratory acreage in Northern Alberta, Canada at a recent Alberta crown land sale. The acquisition brings the Company's undeveloped acreage in the area to 1,920 acres (net 1,536 acres).

As a result the Company will proceed with an exploratory drilling project in early 2004. Drilling of two wells in the exploratory area is planned. Cheyenne Energy Inc. will have an 80% working interest in the wells to be drilled.