Oil and gas software developer Stochastic Simulation has entered into liquidation, around five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best case scenario.
The Osborne Park-based company developed products such as GasAssure and ResAssure, which were used in evaluation of reservoirs and field development modeling.
About $1.7 million was claimed by secured creditors, according to a report by receivers Bryan Hughes, Renee ODriscoll and Daniel Bredenkamp from Deloitte.
To read more, please Login or Register below
Sign up here for free access to 7 articles per month + twice daily business email alerts.
Problems, questions, f…
Read the full article at: https://www.businessnews.com.au/article/Stochastic-into-liquidation