Graeme Storm was in the ninth group out in the morning, starting the round tied for 50th. He shot a 6-under 65 to move into a three-way tie for the lead after three rounds.
Kim Felton carded a 3-under 68 and Marcus Fraser posted a 1-under 70 at Gulf Harbour Country Club to join Storm in the lead at 5-under-par 208.
Peter O'Malley, who played one group ahead of Storm, fired a 66 to climb into a share of fourth at minus-4. He was joined there by Carl Suneson (69), Peter Senior (71) and New Zealand-native Michael Campbell (73).
Wade Orsmby and Nick Dougherty, the second-round leaders, struggled mightily. Ormsby posted a 5-over 76 to fall into a tie for 13th at 2-under-par 211.
Dougherty carded a pair of birdies, but also had a triple-bogey on the second and seven bogeys in a round of 8-over 79. That dropped him to plus-1 and a tie for 39th.
Storm flew out of the gate with an eagle on the par-5 second. He ran off three straight birdies from the fifth to move to minus-4.
After three consecutive pars around the turn, Storm birdied the par-5 11th for the third straight day. That got him to 5 under. He parred the final seven holes, but he still trailed two when his round was completed.
'I was out early so I was able to capitalize on the weather,' Storm said. 'I'm very happy to be in with 6 under for the day and 5 under for the tournament.'
Felton flew up the leaderboard early in the round with birdies on each of the first three holes to get to 5 under. He collected the fourth birdie of his round at the seventh, but gave that stroke back with a bogey on No. 9.
Around the turn, Felton birdied the 13th to get back to minus-6. He tripped to a bogey on 17 though to fall back into a tie with Storm at 5 under.
Fraser birdied the second, but gave that stroke back on the ninth. On the back nine, birdies on the 10th and 11th got Fraser to 6 under.
The Australian parred his next six holes and was in the lead by himself after his par on the 13th as the leaders fell down the leaderboard.
Fraser tripped to a bogey at the last to share the third-round lead with Storm and Felton.
'That was pretty tough. I hit 3-iron in there and some of the other days I hit pitching-wedge. I think I hit 4-iron Friday, but it was pretty (windy) down there,' said Fraser of the 18th. 'You have to hit a pretty good shot in there, which unfortunately I didn't do.'
Kurt Barnes and Brett Rumford each posted rounds of 2-under 69 to move from a share of 29th to a tie for eighth. They were joined at 3-under-par 210 by Daniel Vancsik, Greg Chalmers and Damien McGrane.
Ormsby is one of eight players one stroke further back at minus-2.