June 4 (Reuters) - Front Range Resources (NYSE:RRC) Ltd FRK.V :
* FRONT RANGE RESOURCES LTD. AND ARROW EXPLORATION LTD. TO COMBINE TO BECOME AN INTERNATIONAL E&P COMPANY THROUGH THE STRATEGIC ACQUISITION OF OPERATIONS IN COLOMBIA AND US$30 MILLION EQUITY FINANCING
* FRONT RANGE RESOURCES LTD - PURSUANT TO ARRANGEMENT, EACH COMMON SHARE OF ARROW WILL BE EXCHANGED FOR 8.5 COMMON SHARES OF CO
* FRONT RANGE RESOURCES LTD - ARROW AND CANACOL ENERGY ENTERED INTO SHARE PURCHASE AGREEMENT
* FRONT RANGE RESOURCES - ARROW TO BUY CARRAO ENERGY; AS CONSIDERATION, CANACOL WILL RECEIVE $20 MILLION CASH & $20 MILLION IN COMMON SHARES OF ARROW