diff --git a/ballerina/Ballerina.toml b/ballerina/Ballerina.toml
index af010da..b3dd010 100644
--- a/ballerina/Ballerina.toml
+++ b/ballerina/Ballerina.toml
@@ -1,11 +1,11 @@
 [package]
 org = "ballerinai"
 name = "observe"
-version = "1.1.0"
-distribution = "2201.7.0"
+version = "1.2.0"
+distribution = "2201.8.0"
 
 [platform.java17]
 graalvmCompatible = true
 
 [[platform.java17.dependency]]
-path = "../native/build/libs/observe-internal-native-1.1.0.jar"
+path = "../native/build/libs/observe-internal-native-1.2.0-SNAPSHOT.jar"
diff --git a/ballerina/Dependencies.toml b/ballerina/Dependencies.toml
index 129784d..c77af52 100644
--- a/ballerina/Dependencies.toml
+++ b/ballerina/Dependencies.toml
@@ -5,7 +5,7 @@
 
 [ballerina]
 dependencies-toml-version = "2"
-distribution-version = "2201.7.0"
+distribution-version = "2201.8.0-20230726-145300-b2bdf796"
 
 [[package]]
 org = "ballerina"
@@ -18,7 +18,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "observe"
-version = "1.1.0"
+version = "1.2.0"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
diff --git a/build-config/resources/Ballerina.toml b/build-config/resources/Ballerina.toml
index 57c2a5c..2ab0172 100644
--- a/build-config/resources/Ballerina.toml
+++ b/build-config/resources/Ballerina.toml
@@ -2,7 +2,7 @@
 org = "ballerinai"
 name = "observe"
 version = "@toml.version@"
-distribution = "2201.7.0"
+distribution = "2201.8.0"
 
 [platform.java17]
 graalvmCompatible = true
diff --git a/gradle.properties b/gradle.properties
index 229859f..d147648 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -14,17 +14,17 @@
 
 org.gradle.caching=true
 group=io.ballerina
-version=1.1.0
+version=1.2.0-SNAPSHOT
 
 ballerinaLangVersion=2201.8.0-20230726-145300-b2bdf796
 ballerinaTomlParserVersion=1.2.2
-ballerinaGradlePluginVersion=2.0.1-SNAPSHOT
+ballerinaGradlePluginVersion=2.0.1
 puppycrawlCheckstyleVersion=10.12.0
 openTelemetryVersion=1.7.0
 nettyCodecVersion=4.1.77.Final
 gsonVersion=2.10.1
 
-observeVersion=1.1.0
+observeVersion=1.2.0-20230810-105500-5841859
 
 # Test Dependency Versions
 testngVersion=7.6.1
diff --git a/testobserve/ballerina/Ballerina.toml b/testobserve/ballerina/Ballerina.toml
index e52774e..b4c2a80 100644
--- a/testobserve/ballerina/Ballerina.toml
+++ b/testobserve/ballerina/Ballerina.toml
@@ -4,4 +4,4 @@ name = "testobserve"
 version = "0.0.0"
 
 [[platform.java17.dependency]]
-path = "../native/build/libs/testobserve-native-1.1.0-all.jar"
+path = "../native/build/libs/testobserve-native-1.2.0-SNAPSHOT-all.jar"
diff --git a/testobserve/ballerina/Dependencies.toml b/testobserve/ballerina/Dependencies.toml
index ec87c77..4f59903 100644
--- a/testobserve/ballerina/Dependencies.toml
+++ b/testobserve/ballerina/Dependencies.toml
@@ -5,7 +5,7 @@
 
 [ballerina]
 dependencies-toml-version = "2"
-distribution-version = "2201.7.0"
+distribution-version = "2201.8.0-20230726-145300-b2bdf796"
 
 [[package]]
 org = "ballerina"
diff --git a/testobserve/tests/src/test/resources/listener_tests/Dependencies.toml b/testobserve/tests/src/test/resources/listener_tests/Dependencies.toml
index c5cb247..df35479 100644
--- a/testobserve/tests/src/test/resources/listener_tests/Dependencies.toml
+++ b/testobserve/tests/src/test/resources/listener_tests/Dependencies.toml
@@ -5,7 +5,7 @@
 
 [ballerina]
 dependencies-toml-version = "2"
-distribution-version = "2201.7.0-20230619-175900-bb4e4544"
+distribution-version = "2201.8.0-20230726-145300-b2bdf796"
 
 [[package]]
 org = "ballerina"