August 1995:

Bula enters into an agreement with Mir Oil Development Ltd, transferring 101 million shares to the Virgin Islands company in return for a share of its involvement in the Salymskoye oil field in Siberia.

October 1996:

Bula announces successful results for a test well.

April 1997:

Mr Jim Stanley resigns as chairman and managing director of Bula.

May 1997:

Bula corrects the October statement and says the well results were disappointing.

September 1997:

The High Court freezes almost 74 million of the shares transferred to Mir, pending clarification of who owns them. The other 27 million shares have already been sold.

October 1997:

The Tanaiste and Minister for Enterprise, Trade and Employment, Ms Harney, appoints barrister Lyndon MacCann under the Companies Act, to establish the ownership of the shares transferred to Mir.

December 1997:

A meeting in Moscow between Mr Stanley and Mr MacCann fails to go ahead.

March 1998:

Mr Stanley again fails to meet with Mr MacCann in Moscow despite an order by the Dublin High Court that he do so.