The pilot visited Fresno FSS for a weather briefing on route to Santa Barbara. He was advised of weather and told VFR flight was not recommended. The pilot then said he would go VFR and make an instrument approach at Santa Barbara if weather was as bad as forecast. He also said he did not need a complete weather briefing. He departed Fresno at 1623 with one passenger and proceeded to Santa Barbara. He was descended to 2300 feet approaching his final fix for a VOR Runway 25 approach by Santa Barbara Approach Control and told to switch to tower frequency. About 30 seconds later at 1741 the flight contacted the tower and advised that they were lost. Tower advised the flight to execute a missed approach procedure and contact departure control. The flight was heard on departure frequency but no contact was established. N4907V was found on May 8 at an elevation of 2450 feet, 9 mi. from Santa Barbara VOR. This was the last transmission from the aircraft.