TABJ - June 10 - News of a new business venture for disgraced British Petroleum (BP) boss Anthony ‘Tony’ Hayward have surfaced just nine months after his departure from his previous post; he plans to list a new vehicle on the London Stock Exchange and raise a reported £1 billion through the sale of shares. This venture is said to be Vallares, a new investment offering joint developed between Hayward and commodities-focused U.K. entrepreneur Nat Rothschild, the man behind Vallar.

Talk of targeting emerging market oil and gas assets has done its rounds, and following statements made by Hayward, these will be in the region of £3 to £8 billion.

“Once you’ve run BP, the company I spent my life at, you can’t re-create that experience so the challenge was staying in the industry but doing something very different. This fits that bill,” press quotes him as stating.

Vallares likeness in title to Vallar is predictable, given that this new venture is based loosely on Rothschild’s existing enterprise which had a good year upon listing in 2010, raising £700 million and stumping up £3 billion for Berau Coal Energy and Bumi Resources, two of Indonesia’s largest coal miners. Hayward told press that after assessing Vallar’s successes, it was questioned whether it would work in oil and gas too.