SHARE PURCHASE AGREEMENT

         This Share Purchase Agreement ("Agreement"), dated as of
January 30, 2004, between Cheyenne Resources, Inc. ("CH") a Wyoming
Corporation, Robert Spatz, ("Seller") and Skye Blue Ventures (the "Buyer"), a
Colorado Limited Liability Company.


                              W I T N E S S E T H:


A.   WHEREAS,  CH is a corporation duly organized under the laws of the State of
     Wyoming and Robert Spatz is the principal shareholder and creditor.

B.   WHEREAS, Buyer wishes to purchase an aggregate of 23,500,000 shares of
     newly issued CH common stock from CH, and 1,800,000 shares of common stock
     from Seller (collectively, the "Purchase Shares"), common stock after all
     of the conditions under this contract have been performed and CH and Spatz
     desire to sell the Purchase Shares to Buyer pursuant to this agreement.

C.   WHEREAS, prior to the transaction Buyer is not an affiliate of CH.

NOW, THEREFORE, it is agreed among the parties as follows:

                                   ARTICLE 1

                                The Consideration

     1.1  Subject to the conditions set forth herein, Seller shall sell to Buyer
          and Buyer shall  purchase  1,900,000  shares from  Robert  Spatz,  The
          aggregate  purchase price for the shares to be paid by Buyer to Seller
          is $55,000 (the  "Consideration") of which $55,000 is herewith paid in
          escrow with Business  Financial  Systems,  Inc., as full consideration
          for the purchase of Sellers' shares if all of the terms and conditions
          of this  Agreement are met. The  consideration  to Seller for sale and
          delivery of their shares is that from proceeds  deposited  with escrow
          agent,  escrow  agent  shall pay the  purchase  price of the  Seller's
          shares to the  Sellers.  Seller  shall  receive  proceeds  as follows:
          $55,000 to Spatz.

     1.2  CH shall sell 23,500,000 shares to Buyer for $45,000 and the following
          consideration;

                  Buyer will loan the Company $25,000 in cash to be used with
         the $45,000 share purchase price to pay the bills set forth in Schedule
         3.17 of this Agreement. Such loan plus an amount for legal fees and
         expenses to bring all SEC filings current and complete a proxy
         statement estimated at $50,000 is convertible at Buyer's option into
         common stock at the net tangible book value per share of the Company at
         the conversion date or $.001 per share, which ever is greater, at any
         time within two years after date hereof.


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                                   ARTICLE II

                         Closing and Issuance of Shares

     2.1  The New Shares  shall be issued by CH in escrow for  delivery to Buyer
          upon deposit of the  consideration  of $45,000  (plus  $25,000 in loan
          funds) in escrow for share  purchase.  The  Purchase  Shares  shall be
          deposited  in escrow  from  Seller on deposit of $55,000  with  escrow
          agent.  The  escrow is subject to  satisfaction  of a) the  conditions
          precedent in Article VI, and b) procedures in Article V, and all other
          terms and conditions of this Agreement.

     2.2  Closing  hereunder  shall be  completed  by release from escrow of the
          cash  consideration,  the loan proceeds and share  certificates  on or
          before December 10, 2003 at 5:00 p.m. MST ("Closing  Date") subject to
          satisfaction   of  the  terms  and   conditions   set  forth   herein.
          Consideration  may be delivered by Federal  Express or wire transfers,
          and any closing  documents  may be  delivered  by  facsimile,  Federal
          Express or other appropriate means.

                                  ARTICLE III

           Representations, Warranties and Covenants of CH and Sellers

         CH and Seller hereby, represents, warrants and covenants to Buyer as
follows:

     3.1  CH is a  corporation  duly  organized,  validly  existing  and in good
          standing under the laws of the State of Wyoming, and has the corporate
          power  and  authority   carry  on  its   business.   The  Articles  of
          Incorporation and Amendments and Bylaws of CH, which will be delivered
          to Buyer at closing,  are complete and accurate,  and the minute books
          of CH,  copies of which have also been  delivered to Buyer,  contain a
          record,  which is complete and accurate in all material  respects,  of
          all meetings,  and all corporate actions of the shareholders and Board
          of Directors of CH.

     3.2  The  authorized  capital stock of CH consists of 50,000,000  shares of
          common stock.  There are 26,500,000 shares  (approximately)  of Common
          Stock of CH issued and outstanding as of date hereof and will be prior
          to closing. All such shares of capital stock of CH are validly issued,
          fully paid,  non-assessable  and free of preemptive  rights. CH has no
          outstanding warrants, or other rights to purchase, or subscribe to, or
          other  securities  convertible  into or exchangeable for any shares of
          capital stock of CH, or contracts or arrangements of any kind relating
          to the issuance, sale or transfer of any capital stock or other equity
          securities of CH. All outstanding  options will be released in writing
          and  cancelled  at the time of the closing of this  transaction.  This
          Agreement has been duly authorized,  validly executed and delivered on
          behalf of CH and is a valid and binding agreement and obligation of CH
          enforceable against the parties in accordance with its terms,  subject
          to limitations  on enforcement by general  principles of equity and by
          bankruptcy  or other laws  affecting  the  enforcement  of  creditors'
          rights generally,  and CH has complete and unrestricted power to enter
          into  and  to  consummate  the   transactions   contemplated  by  this
          Agreement.



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     3.3  Neither the making of nor the compliance with the terms and provisions
          of this Agreement and  consummation of the  transactions  contemplated
          herein by CH will  conflict with or result in a breach or violation of
          the  Articles  of  Incorporation  or Bylaws of CH, or of any  material
          provisions of any indenture, mortgage, deed of trust or other material
          agreement  or  instrument  to which CH is a party,  or of any material
          provision  of any law,  statute,  rule,  regulation,  or any  existing
          applicable  decree,  judgment or order by any court,  federal or state
          regulatory body,  administrative  agency,  or other  governmental body
          having  jurisdiction  over CH, or any of its  material  properties  or
          assets,  or will result in the creation or  imposition of any material
          lien, charge or encumbrance upon any material property or assets of CH
          pursuant to the terms of any  agreement or instrument to which CH is a
          party or by which CH may be bound or to which  any of CH  property  is
          subject and no event has  occurred  with which lapse of time or action
          by a third party could result in a material  breach or violation of or
          default by CH.

     3.4  There  is  no   claim,   legal   action,   arbitration,   governmental
          investigation  or other legal or  administrative  proceeding,  nor any
          order, decree or judgment in progress, pending or in effect, or to the
          best knowledge of CH threatened against or relating to CH or affecting
          any of its  assets,  properties,  business  or capital  stock  (except
          lawsuits with forced pooling  parties).  There is no continuing order,
          injunction  or  decree  of  any  court,   arbitrator  or  governmental
          authority  to  which  CH is a  party  or by  which  CH or its  assets,
          properties, business or capital stock are bound.

     3.5  CH has accurately prepared and filed all federal,  state and other tax
          returns  required  by law,  domestic  and  foreign,  to be filed by it
          through its fiscal 1986 year and has paid or made  provisions  for the
          payment of all taxes shown to be due and all  additional  assessments,
          and adequate  provisions  have been and are reflected in the financial
          statements  of CH for all current  taxes and other charges to which CH
          is subject and which are not  currently  due and payable.  None of the
          Federal  income tax  returns of CH have been  audited by the  Internal
          Revenue Service or other foreign  governmental  tax agency.  CH has no
          knowledge of any additional assessments, adjustments or contingent tax
          liability  (whether federal or state) pending or threatened against CH
          for any period,  nor of any basis for any such assessment,  adjustment
          or contingency.

     3.6  CH has  delivered  to Buyer  unaudited  financial  statements  for the
          period  ended  June 30,  2003  and will  provide  September  30,  2003
          unaudited financial statements. All such statements,  herein sometimes
          called "CH  Financial  Statements"  are  complete  and  correct in all
          material  respects  and,  together  with the notes to these  financial
          statements,  present  fairly the  financial  position  and  results of
          operations of CH for the periods  indicated within the knowledge of CH
          and/or  Spatz.  All  financial  statements of CH have been prepared in
          accordance with generally accepted accounting principles.

     3.7  As  of  the  date  hereof,   CH,  represents  and  warrants  that  all
          outstanding indebtedness of CH is as shown on the financial statements
          attached  hereto (the updated  statements),  which include debts shown
          and not shown in June 30, 2003 financial  statements (See Schedule 3.8
          hereto).  Any and all  accruals to  officers  and  directors  shall be
          waived and released by each officer or director, in writing.



<PAGE>






     3.8  Since the dates of the updated CH Financial Statements, there have not
          been any  material  adverse  changes  in the  business  or  condition,
          financial  or  otherwise,  of CH  within  the  knowledge  of CH and/or
          Seller. CH does not have any liabilities,  commitments or obligations,
          secured or unsecured  except as shown on updated  financials  (whether
          accrued, absolute, contingent or otherwise).

     3.9  CH is not a party to any contract  performable  in the future  except,
          and in conjunction  with  participation  agreements on its oil and gas
          interests.

     3.10 The  representations and warranties of CH and Seller shall be true and
          correct as of the date hereof.

     3.11 CH has delivered to Buyer,  all of its corporate books and records for
          review, and will turn over all original corporate records at closing

     3.12 CH has no employee benefit plan in effect at this time.

     3.13 No  representation  or warranty by CH or the Seller in this Agreement,
          or any  certificate  delivered  pursuant  hereto  contains  any untrue
          statement  of a  material  fact or omits to state  any  material  fact
          necessary to make such representation or warranty not misleading.

     3.14 Buyer has received  copies of Form 10KSB as filed with the  Securities
          and Exchange  Commission  ("SEC") which  included  audits for the year
          ended December 31, 2000 and each of its other reports to  shareholders
          filed with the SEC  through  the period.  CH is a  registered  company
          under the  Securities  Exchange  Act of 1934,  as  amended  but is not
          current in its filings.

     3.15 Seller  has not made to Buyer  any  general  solicitation  or  general
          advertising regarding the shares of CH common stock.

     3.16 CH has  incurred  no  liabilities  except  as shown  on the  financial
          statements and fees in conjunction with this  transaction,  which fees
          incurred in conjunction with this transaction shall be paid at closing

     3.17 Spatz and CH have attached a complete list of all obligations, leases,
          notes,  advances due,  contracts  and accounts  payable upon which any
          balance remains due and outstanding as Schedule 3.17 hereto,  and such
          is complete and accurate within the knowledge of Spatz and CH. It is a
          requirement  that the loan  proceeds  shall be used to settle  all the
          obligations  and pay  for  the  shareholders'  meeting  mailing  up to
          $10,000, except as to the shares issued for services under 8.14.


<PAGE>


                                   ARTICLE IV



                              Procedure for Closing


     4.1  At the Closing Date, the purchase and sale shall be consummated  after
          satisfaction  of all  conditions  precedent set forth in Article V and
          VI, by CH common  stock  certificates  for the  Purchase  Shares being
          delivered,  duly signed and guaranteed by Seller for 1,800,000  shares
          of common stock to Buyer,  and the issuance of the 23,500,000 share of
          CH as Consideration for the share purchase,  together with issuance of
          all other items, agreements, warranties, and representations set forth
          in this Agreement.


                                    ARTICLE V

                           Conditions Precedent to the
                          Consummation of the Purchase

         The following are conditions precedent to the consummation of the
Agreement on or before the Closing Date:

     5.1  CH and  Spatz  shall  have  performed  and  complied  with  all of its
          respective  obligations  hereunder  which are to be  complied  with or
          performed on or before the Closing Date.

     5.2  No action, suit or proceeding shall have been instituted or shall have
          been threatened before any court or other  governmental body or by any
          public  authority  to restrain,  enjoin or prohibit  the  transactions
          contemplated  herein, or which might subject any of the parties hereto
          or their  directors  or  officers  to any  material  liability,  fine,
          forfeiture   or  penalty  on  the   grounds   that  the   transactions
          contemplated   hereby,  the  parties  hereto  or  their  directors  or
          officers,  have  violated any  applicable  law or  regulation  or have
          otherwise  acted   improperly  in  connection  with  the  transactions
          contemplated  hereby,  and the  parties  hereto  have been  advised by
          counsel  that, in the opinion of such  counsel,  such action,  suit or
          proceeding  raises  substantial  questions  of law or fact which could
          reasonably  be decided  adversely to any party hereto or its directors
          or officers.

     5.3  The  representations  and  warranties  made  by CH and  Spatz  in this
          Agreement shall be true as though such  representations and warranties
          had been made or given on and as of the  Closing  Date,  except to the
          extent that such  representations  and warranties may be untrue on and
          as of the  Closing  Date  because  of changes  caused by  transactions
          suggested or approved in writing by the Buyer.



<PAGE>




                                   ARTICLE VI

                           Termination and Abandonment

     6.1  Anything contained in this Agreement to the contrary  notwithstanding,
          the Agreement may be terminated  and abandoned at any time prior to or
          on the Closing Date:

          (a)  By mutual consent of parties;

          (b)  By either  party,  if any condition set forth in Article V or any
               other Article relating to the other party has not been met or has
               not been waived;

          (c)  By  Buyer,  if any suit,  action,  or other  proceeding  shall be
               pending or threatened by the federal or a state government before
               any  court or  governmental  agency,  in which  it is  sought  to
               restrain,  prohibit,  or otherwise affect the consummation of the
               transactions contemplated hereby;

          (d)  By Buyer, if there is discovered any material error, misstatement
               or  omission in the  representations  and  warranties  of another
               party;

          (e)  By CH, if the Closing  does not occur,  through no failure to act
               by CH,  on  closing  date,  or if  Buyer  fails  to  deliver  the
               consideration required herein;

          (f)  If all of the  outstanding  liabilities  cannot  be  settled  for
               $45,000,  and audits to bring SEC filings current paid for within
               the budget amount of $12,500;

          (g)  Buyer may cancel this agreement  without  penalty,  and receive a
               return of all monies in escrow if the aggregate  debt  settlement
               amounts  plus the costs of audits  to bring SEC  filings  current
               exceed $57,500.

     6.2  Any of the terms or conditions of this  Agreement may be waived at any
          time by the party which is entitled to the benefit thereof,  by action
          taken by its Board of Directors  provided;  however,  that such action
          shall be taken  only if, in the  judgment  of the  Board of  Directors
          taking the  action,  such waiver  will not have a  materially  adverse
          effect on the  benefits  intended  under this  Agreement  to the party
          waiving such term or condition.


                                   ARTICLE VII

                         Continuing Representations and
                            Warranties and Covenants

     7.1  The  respective  representations,  warranties,  and  covenants  of the
          parties  hereto and  agreements  of the parties  hereto shall  survive
          after  the  closing  under  this  Agreement  for a period of two years
          hereafter in accordance with the terms thereof.


<PAGE>





                                  ARTICLE VIII

                                  Miscellaneous

     8.1  This Agreement embodies the entire agreement between the parties,  and
          there have been and are no agreements,  representations  or warranties
          among the parties other than those set forth herein or those  provided
          for  herein,  except  that a companion  document,  the  Reorganization
          Agreement,  has been executed  concurrently  which  contains  numerous
          warranties and representations.

     8.2  To  facilitate  the  execution  of  this  Agreement,   any  number  of
          counterparts  hereof may be executed,  and each such counterpart shall
          be  deemed to be an  original  instrument,  but all such  counterparts
          together shall constitute but one instrument.

     8.3  All parties to this  Agreement  agree that if it becomes  necessary or
          desirable  to  execute  further  instruments  or to  make  such  other
          assurances as are deemed necessary,  the party requested to do so will
          use its best efforts to provide such  executed  instruments  or do all
          things necessary or proper to carry out the purpose of this Agreement.

     8.4  This  Agreement may not be amended  except by written  consent of both
          parties.

     8.5  Any notices,  requests, or other communications  required or permitted
          hereunder shall be delivered  personally or sent by overnight  courier
          service, prepaid, addressed as follows:

To CH:            Cheyenne Resource, Inc.



To Buyer:         Skye Blue Ventures LLC
                  2000 Wadsworth Blvd., #179
                  Lakewood, CO 80214

or such other addresses as shall be furnished in writing by any party, and any
such notice or communication shall be deemed to have been given as of the date
received.

     8.6  No press release or public  statement  will be issued  relating to the
          transactions  contemplated by this Agreement without prior approval of
          the Buyer  and  Sellers.  However,  CH may issue at any time any press
          release or other  public  statement  it  believes on the advice of its
          counsel  it is  obligated  to issue to avoid  liability  under the law
          relating to  disclosures,  but the party issuing such press release or
          public  statement  shall  make a  reasonable  effort to give the other
          party prior notice of and  opportunity  to participate in such release
          or statement.

     8.7  This Agreement  shall be governed by and construed in accordance  with
          and enforced under the laws of the state of Colorado applicable to all
          agreements  made  hereunder.  Venue  and  jurisdiction  for any  legal
          actions hereunder shall be District Court in and for Jefferson County,
          Colorado.


<PAGE>




     8.8  CH and  Buyer  agree  that  Buyer  and  CH  can  and  will  cause  the
          effectuation,  of a reverse  split,  of the common shares of CH issued
          and  outstanding  at such date, in a ratio of one for 85 shares within
          90 days following the Closing hereunder.

     8.9  In the event of a breach or  default of this  Agreement  or any of the
          continuing  covenants  hereunder  which  results  in a  party  or  any
          effected shareholder who is a beneficiary of a surviving or continuing
          covenant,  commencing legal action, the prevailing party in such legal
          action  shall be  entitled  to an award of all legal fees and costs of
          the action, against the non-prevailing party.

     8.10 Buyer shall  designate  at least three new  directors  to be effective
          subject to  compliance  with Section 14f of the  Securities & Exchange
          Act of 1934,  and Seller and Spatz agree to appoint such  Directors by
          consent minutes to be drawn by Buyers attorney.

     8.11 In  connection  with this  Agreement  the parties have  appointed  the
          escrow  agent,   Business  Financial  Systems,  Inc.  which  shall  be
          authorized by this  agreement to do the  following:  The funds will be
          disbursed to each of the debtors and Spatz.

          1)   Accept the deposit of $55,000 purchase price for Seller's shares,
               $45,000 for share  purchase from CH, and $25,000 loan from Buyer,
               upon receipt of a copy of this  Agreement  signed by Sellers,  CH
               and  Spatz,  and  Buyer  and  hold  it in  accordance  with  this
               Agreement;

          2)   Accept the newly  issued  common  stock  certificates  of CH duly
               authorized  for  23,500,000  common  shares in name of Buyer and,
               1,800,000 shares of CH duly executed from Seller;

          3)   Upon receipt of Directors & Officers  Settlement  Agreements  for
               compensation  claims,  audits and signed SEC filings to bring all
               reporting  current,  Escrow  Agent shall  disburse  the  proceeds
               received from the escrow in accordance with this Agreement;

          4)   Deliver     the     stock     certificates     to    Buyer    at:
               _________________________;

          5)   In the event of default  in  delivery  any item by a party  under
               this agreement,  any cash or certificates received from the other
               party shall be returned to the  remitting  party 3 business  days
               after default; and

          6)   Escrow Agent is specifically indemnified and held harmless hereby
               for its actions or inactions in following these instructions.  In
               the event of a dispute  involving the escrow  instructions or the
               consideration  to be  delivered  in escrow,  the escrow  agent is
               authorized  to  implead  the  consideration   received  into  the
               District  Court  of  Jefferson  County,  Colorado  upon  ten days
               written  notice,  and be relieved of any  further  escrow  duties
               thereupon.  Any and all costs of attorneys fees and legal actions
               of escrow agent for any dispute  resolution  or impleader  action
               shall be paid in equal shares by the parties to this agreement.


<PAGE>




     8.12 Spatz  agrees to sign,  as  CEO/CFO  all  filings  and  Sarbanes/Oxley
          Certifications at closing,  for all SEC filings required.  Spatz shall
          thereafter  resign as CEO/CFO,  and Randall  Reichert  and Don Goddard
          shall resign  effective  upon  compliance  with Section 14f by mailing
          Notice to Shareholders.

     8.13 Concurrent  with the execution  hereof,  the Board of CH shall appoint
          two new  directors,  of  Buyer's  choice  subject to  compliance  with
          Section 14f.

     8.14 Written Release and Waiver of any and all compensation, consulting, or
          salary claims of Seller shall be delivered prior to Closing. The Board
          shall  authorize  that Spatz  shall be issued  90,000 S-8 shares (on a
          post reverse  split basis) for  services  rendered as a President  and
          30,000 shares to Earl King.  Such shares shall be issued 90 days after
          closing hereunder.

     8.15 Due  to  the  fact  of  ongoing  plug  and  abandon   liabilities  and
          fluctuations  of gas and  oil  prices,  and  continuing  necessity  of
          management and costs of litigation and accounting,  Robert Spatz shall
          have conveyed to him and he shall receive any and all Working interest
          and  Overiding   Royalties  in  wells  in  return  for  assumption  of
          liabilities.

     8.16 Buyer intends to implement by shareholder meeting:

          1)   A reverse split of 1 for 85 shares;

          2)   Authorization of 250,000,000 shares of common stock;

          3)   Redomicile to Nevada;

          4)   Name change; and

          5)   New Directors



<PAGE>





         IN WITNESS WHEREOF, the parties have executed this Agreement this _____
day of __________________________, 2004.

Robert Spatz

---------------

                                                BUYER: SKYE BLUE VENTURES LLC

CHEYENNE RESOURCES, INC.



By: _________________________________       By: ______________________________

Name: _______________________________       Name: ____________________________

Title: ________________________________     Tile: ______________________________





<PAGE>




                                  SCHEDULE 3.17


1.       Earl King                                            $10,000
2.       Robert Spatz (reimbursement)                         $10,000
3.       Michael Johnson                                      $12,500
4.       Computershare                                         $1,400
5.       Bookkeeper                                            $1,600
6.       Don Goddard                                          $15,000*
7.       Randall Riechert                                      $5,000*
8.       June King                                             $1,000
9.       Warren Hickman                                        $1,000

         *for complete release for all compensation claims whatsoever for
services as officers or directors or consultants to Cheyenne Resources, Inc.

                                                             -----------

                                                               $57,500