Police superintendent Renato Bataller, Bicol regional police spokesman, identified the victims as Roman Toñacao, a village captain of Barangay (village) Mahayahay, Cawayan in Masbate, and his companion Edison Tarucan of Barangay (village) Begia, also in Cawayan.
Bataller said authorities are now on the lookout against suspect Dario Pepito of Cebu City, who allegedly shot the victims on Gomez Street in Divisoria village, Cawayan around 12 midnight using a suspected .45-caliber handgun.
Tarucan died on the spot, while Toñacao was rushed to the Cawayan District Hospital, but was, however, declared dead on arrival, Battaler said.
He added the suspect was able to escape after the incident.
Recovered from the crime scene were two deformed slugs and six empty shells from a .45- caliber, Battaler said.