The top 25 finishers and ties will earn 2008 PGA Tour cards, while the next number of players nearest 50 will get full Nationwide Tour exemptions. The remaining players in the 166-man field will receive conditional Nationwide Tour status.
The 38-year-old Lickliter, a two-time winner on the tour, had an eagle, nine birdies and a bogey on the Crooked Cat course. On Wednesday, he had 10 birdies on the Panther Lake course.
His 20-under 124 total is the lowest two-round score in the event since the tour began keeping such statistics in 1992. Tommy Tolles had the previous best, playing 36 holes in 16-under 128 in 2000.
Zimbabwe's Brendon de Jonge (71) and Jason Allred (67) were second at 11 under. De Jonge played at Crooked Cat, and Allred at Panther Lake.
Alejandro Canizares (62), Jim McGovern (66) and Travis Perkins (67) were 10 under. They all played at Panther Lake