Junior roundup: Interoil, Range Resources, Union Oil

Interoil Exploration & Production announced that Colombia's hydrocarbons regulator ANH granted the company an extension for the exploration phase at block LLA-47.

In an update, Interoil said it completed 350km2 of 3D seismic and was obligated to drill eight exploration wells by October 2016, which has been extended to February 10, 2017.

The requirement to provide an additional guarantee of US$10.5mn was extended to July 29 this year.

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Trinidad and Tobago-focused Range Resources signed a binding MOU with Beijing Sibo Investment Management.

"The MOU envisages the company and Sibo entering into a definitive subscription agreement, whereby Sibo will provide funding of a minimum of US$20mn and up to US$35mn in cash to subscribe for new ordinary fully paid shares of the company," Range said in a statement.

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Union Oil and Gas Group acquired 80% of Hydrocarbon Exploration Peru, which owns 100% of Peru onshore block 183 in the Marañón basin.

The block covers 396,826ha and contains up to 2.2Tf3 (62.3Bm3) of whole recoverable potential gas reserves and a high probability of C5 condensates, parent Union Group said in a statement.