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Peninsula Petroleum has announced that it has secured an additional $100 million of working capital via the completion of new banking facilities in Europe and Asia.

Peninsula completed a new syndicated facility led by HSBC Singapore. The transaction creates $50 million of new liquidity and delivers an overall enhanced diversified financing package for the group of $150 million in Asia.

The facility includes $75 million of two-year committed funding and sees the addition of United Overseas Bank as a new participating lender.

The completion of the HSBC Singapore facility coincides with BNP Paribas joining Peninsula's European club facility with a $50 million participation, bringing total global working capital facilities for the group to $400 million.

"The facilities mark the achievement of another important milestone in the implementation of the group's near to medium term strategic business plan," the company said in a statement.

John Bassadone, CEP of Peninsula Petroleum, commented: "The continued support received from our existing financing partners in Europe and Asia, together with the interest and appetite shown by a large selection of new banks in joining our latest facilities, is a positive endorsement of our unique business model and conservative strategy. We are pleased to have BNP Paribas join our European club and welcome United Overseas Bank to our first syndicate in Asia."