Bula Resources has won some time to comply with an order of the High Court in London that it lodge security for legal costs in a case it is taking against a firm of London solicitors.

The case by the company against Gouldens solicitors, arising out of Bula's disastrous involvement in an oil deal in Russia involving firms called the Russian Corporation and Aki Otyr, was dismissed last month after Bula failed to lodge security for £250,000 sterling (£280,552).

Following an appeal of that decision, the company now has until January 29th, 1999, to lodge the security.

"The company's ability to comply with this order is dependent on the raising of additional finance by Bula," the company said in a statement. "Discussions with a number of parties regarding fund-raising are continuing."