A police spokeswoman said officers received a report at 11.30am that a person had been threatened by a member of the public carrying a weapon at a property in Hampden.
Sergeant Tony Woodbridge, of Oamaru, said five males had gone to a Hampden address and demanded property from the occupant of the residential dwelling.
"They have then taken off in a vehicle and that vehicle has been located in Dunedin.
"The public of Hampden don’t need to be scared, they’ve [the offenders] gone there with this intention and the Dunedin police have strong leads of inquiry to identify them", Sgt Woodbridge said.
The person allegedly carrying the weapon left the address prior to police being called.
Dunedin police were working with the Hampden officer to locate the men and inquiries were ongoing, Sgt Woodbridge said.
