The British Overseas Territory were granted UEFA membership last year and will make their competitive debut in the qualifying rounds for the 2016 European Championships.
Ahead of the qualifying draw, Bula said he would love to come up against Gibraltar's mother country.
"My dream group is England, then Czech Republic, Austria, Latvia and Northern Ireland," Bula said.
CEO of the Gibraltar FA Dennis Beiso agreed with Bula, saying that playing England at Wembley would be the 'icing on the cake'.
"Well a lot of us at the association for sporting and cultural reasons would like to draw England," Beiso said.
"The prospect of our boys stepping out at Wembley would just be the absolute icing on the cake, it would be tremendous to do that."
Bula argued his team have the ability to defy the odds and qualify for the European Championship finals after watching them draw 0-0 with Slovakia in their first fully-sanctioned international friendly in November last year.
"Yeah I genuinely believe that (we can qualify)," the 49-year-old Gibraltarian said.
"Obviously the game against Slovakia is put aside now and I believe that your last game should be put aside and nobody should be sitting on their laurels.
"I think realistically we can get to the play-offs in a group such as this and that is what we are aiming for.
"We are aiming to make some upsets and play football, try and win points and not just go out there for the sake of playing and defend."
