Police are investigating whether hunters may have accidentally shot dead a horse in the Geelong suburb of Lovely Banks last month.
Dane was last seen alive in a paddock off Anakie Road on Wednesday, September 16.
The 27-year-old was found collapsed on the property the following morning.
"We are not sure at this stage whether someone deliberately killed this horse or whether it was accidentally shot by hunters in the area," Senior Constable Matthew Brock said.
It is believed Dane was shot sometime between 7pm Wednesday and 8am Thursday.
Police say the horse was a beloved pet and his owner, a 28-year-old Corio woman, was devastated.
"We are keen to hear from anyone who may have seen or heard anything unusual in the area, no matter how insignificant they think that information may seem," Senior Constable Brock said.
Anyone who was travelling through the area and has dash cam footage or has any other information is urged to contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au.