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Osborne Park-based Stochastic was founded in 2008 by Leo Mullins (pictured) and Andrew Wadsley. Photo: Attila Csaszar

Stochastic to be sold by receivers

Oil and gas software developer Stochastic Simulation is expected to be put up for sale, two weeks after it was put into receivership.

Stochastic, which provides a series of products that simulate reservoirs, drilling and gas flows, is continuing to trade, but under the control of receivers Renee O'Driscoll, Bryan Hughes and Daniel Bredenkamp of Pitcher Partners.

They were appointed on Monday April 3 by parties associated with private lender Daniel Colgan.

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