Lough Owel near Mullingar became the focus of the hunt yesterday after concerns were raised for the safety of Eoin O'Connor and Anthony Keegan from Coolock.
The men were reported missing on Tuesday evening after they failed to return home following a meeting in the Cavan area.
The car they were traveling in - a silver grey Ford Focus - was found in the car park beside the lake early yesterday morning.
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It's believed investigations will now concentrate on a forensic exam of the car.