ConocoPhillips Australia SH1 Pty Ltd and ConocoPhillips Australia SH2 Pty Ltd (‘ConocoPhillips Australia’) are planning to undertake exploration activities in offshore permits VIC/P79 and T/49P located in Commonwealth waters of the Otway Basin, 19 km offshore of Victoria and 28 km offshore of King Island, Tasmania. ConocoPhillips Australia’s proposed Otway Exploration Drilling Program involves seabed surveys at up to a maximum of nine locations, and drilling up to a maximum of six exploration wells in water depths ranging from 53 m to 500 m. The activity is scheduled to commence no earlier than 1st of April 2024 and will be completed no later than 31st of December 2028, with the exact timing dependent on the receipt of environmental approvals and the availability of a mobile offshore drilling unit (‘MODU’).