Police allege the men stole a Holden commodore from Must Street and it was recovered in Mount Gambier this morning after South Australian police were alerted to the theft.

The two men are being held by police in Nelson but it is expected they will be transported to Portland police station where they will be interviewed in relation to the theft.

If charged the men could appear in the Hamilton Magistrates Court today for a bail application.

Meanwhile, an Apollo Bay man will appear in Geelong court tomorrow after being arrested by Colac police detectives.

Police officers arrested the man on September 27 and he was remanded in custody on six outstanding warrants for failing to appear in court.

He was arrested, interviewed and charged on other matters including conduct endangering life after an alleged police pursuit on September 18 in the Gisborne area.

Police allege the accused man reached speed of 150km/h during the chase and on several occasions he drove directly at the police divisional van involved in the pursuit.

Police called off the chase due to extreme danger of the situation.