Three men are being sought for questioning after police found about 365 kilograms of cocaine off Western Australia's south coast.
The men were found clinging to an esky in the ocean off Albany on February 1, telling authorities their boat had capsized while they were fishing.
Days later, a package of cocaine washed ashore near the town of Denmark and a seven-metre boat was found overturned off Peaceful Bay.
A search of the vessel uncovered another eight plastic-wrapped packages each containing about 40kg of cocaine, the Australian Federal Police said on Tuesday.
Authorities had already begun investigating after the men's account of what happened "appeared inconsistent".
Police believe the drugs were collected from the ocean and loaded onto the boat, although it's still being investigated how they were dropped in the water.
Detectives are seeking public assistance to locate Perth men Mate Stipinovich, 49, and Karl Whitburn, 45, as well as 36-year-old Aristides Avlontis who is believed to be in the Northern Territory.
Australian Federal Police acting commander Graeme Marshall urged the trio to contact police.
"The interception of this amount of drugs would be a significant blow to a well-resourced syndicate, and prevents millions of dollars of drug profit from flowing back into the group to fund their next criminal venture or lavish lifestyles," he said.
"The AFP estimates this seizure has saved the community more than $235 million in drug-related harm, including associated crime, healthcare and loss of productivity."
