Police interviewed the man this morning.

The whereabout of a man in his 30s remains unknown.

UPDATE, 10.15am: A Ballarat woman has been charged with armed robbery, while a drug influenced 25-year-old man is yet to be interviewed after a three-hour man hunt across the south-west on Saturday afternoon.

Detective Senior Constable C​raig Wastell, of the Warrnambool police crime investigation unit, said a co-accused, a man believed to be in his 30s with long black hair, is still wanted by police to assist with inquiries.

Police initially received a report of a maroon 2000 Ford Fairmont sedan driving erratically in the Homemaker Centre, Bunnings complex and Flying Horse Bar and Brewery area at 2.50pm on Saturday.

"There was an influx of calls after the initial report," Detective Senior Constable Wastell said.

"There is a suggestion that there is dash camera or video footage of what happened and we are keen to see that footage."

There were also reports that the driver of the Fairmont mount a curb and drove at pedestrians in the Homemaker Centre.

Detective Senior Constable Wastell said  the vehicle was then later seen at Bushfield, turned west onto Bridge Road and headed north on the Penshurst-Warrnambool Road.

​He said police members were not in a position to try and intercept the Fairmont.

"A number of police units from across the district were mobilised and the police air wing was called in to assist," he said.​

​"The Koroit divisional van was stationary on the Penshurst-Warrnambool Road and approached from behind by the Fairmont, but the driver had to take evasive action after an attempted ramming."

​Detective Senior Constable Wastell said that a pursuit was initiated but soon after terminated due to the erratic behaviour of the Fairmont driver.

"They have then gone to ground between Penshurst and Hawkesdale," he said.

"A Mortlake police officer located the maroon Fairmont just east of Caramut, off the Hamilton Highway, about 6pm."

The detective said the Fairmont had run out of fuel and the occupants of the car were being assisted by the driver of another vehicle.

He said the 25-year-old man and 19-year-old woman were arrested, but a man in his 30s with long black hair ran off across the paddocks and has not been located.

"We would request anyone who has seen a man fitting this description in that area on Saturday evening, overnight Saturday or Sunday morning contact the Warrnambool police station or Crime Stoppers on 1800 333 000," he said.

The 19-year-old Ballarat woman had five police whereabout alerts out for her.

She has been interviewed and charged with committing an armed robbery at the Ballarat JB Hi-Fi store in  the past week, during which a victim suffered a large laceration to his arm.

The 25-year-old Melton man was unable to be interviewed due to his level of drug intoxication.

It's expected he will be interviewed on Sunday and charged with a range of offences, including burglaries in Ballarat.

Both are expected to appear in the Warrnambool, Magistrates Court on Monday for bail/remand hearings.

It's alleged the two male occupants of the Fairmont also went into the Good Guys and stole a number of electrical items.

Detective Senior Constable Wastell said a large number of believed to be stolen items were found in the Fairmont.

"The investigations is ongoing. We would ask that anyone with footage of what happened in the Homemaker Centre, and that vicinity, contact the Warrnambool police station," he said

Saturday, 8pm: Warrnambool police Sergeant Blake Amos said the drama started about 4pm when police received reports of a burgundy Ford Falcon doing burnouts at the Homemaker Centre.

The police divisional van attended and talked to witnesses.

There were a number of reports, and supposedly dash camera footage, of the Ford on the footpath.

"The vehicle was then seen at Bushfield but police members were not in a position to attempt an intercept," Sergeant Amos said.

"Police followed the vehicle to Penshurst, but lost sight of it.

"In Penshurst the Ford driver attempted to ram the Koroit divisional van about 4.45pm."

Sergeant Amos said the Ford then headed south back towards Koroit.

Police again lost sight of it but located the Ford on the outskirts of Caramut after an extensive search.

"Two people, a man and woman , were arrested about 6pm and are currently in the Warrnambool police station assisting members with inquiries," Sergeant Amos said.

"A man, reported to be the driver of the Ford, is still outstanding. We would like to speak to that man."

The police air wing and uniform officers from across the Warrnambool and Hamilton districts were involved in the two-hour operation, as well as detectives from the Warrnambool police crime investigation unit.

Sergeant Amos said the man and woman were being interviewed about serious driving offences including conduct endangering serious injury and/or death.

"We would request any witnesses to contact Warrnambool police or Crime Stoppers on 1800 333 000," he said.

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