A Geelong man has lost his bid for freedom after he was allegedly found with a smorgasbord of illicit drugs in a stolen Volkswagen in Warrnambool.

Aidan Weddell, previously of Mount Gambier, appeared in Warrnambool Magistrates Court on Thursday where he made an unsuccessful bail application.

The man was arrested on Wednesday and charged in relation to drugs and weapons allegedly located in the stolen vehicle.

Warrnambool uniform officers allegedly noticed a false number plate attached to the rear of the car which was refueling at the BP service station in Jamieson street at 5.20am.

That led to further enquiries which revealed the Volkswagen Golf hatchback had been reported stolen from Endeavour Hills in south-east Melbourne.

A search of the vehicle allegedly uncovered small amounts of ice, cocaine, GHB and heroin.

Police also seized knives, knuckle dusters and over $2000 in cash.

During an interview, Mr Weddell told police he had won the money and that a bag of about five grams of white powder was not methamphetamine but a cutting agent called MSM.

The court heard the drugs would need to be sent away to be forensically tested.

A police prosecutor told the court that the man was found halfway between Mount and Gambier and Geelong.

"He's found with a lot of drugs with no known reason to be in Warrnambool," he said.

"It could well be that this was a drug run or similar. That's what it certainly looks like."

Magistrate Franz Holzer said the man had a history of offending and drug abuse and that not even a surety would mitigate the risks of Mr Weddell reoffending.

He refused bail and remanded the man in custody.

Mr Weddell will appear in court again on August 9.

Earlier: Police are currently conducting a forensic examination of a stolen vehicle from Melbourne in the search for drugs.

Sergeant Blake Amos, of the divisional tasking team, said Warrnambool uniform officers noticed what looked to be a false number plate attached to the rear of a Volkswagen refueling at the BP service station in Jamieson Street at 5.20am.

That led to further enquiries which revealed the Volkswagen Golf hatchback had been reported stolen from Endeavour Hills in south-east Melbourne.

A man and woman were arrested in relation to the theft of the vehicle and are currently assisting police with their investigation.

"The man was carrying $2500 in cash which has been seized," Sergeant Amos said.

"A forensic search of the vehicle is currently being conducted as we speak in the search for illicit drugs.

"This was outstanding proactive policing by the uniform members."

Sergeant Amos requested that anyone with information about illegal drug activity contact Crime Stoppers on 1800 333 000.

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