Jay Haas shot a nine-under-par 63 to take a one-stroke lead over Kenny Perry and Cameron Beckman after the fourth round of the 90-hole Bob Hope Classic.
The 48-year-old Haas holed out from the fairway for an eagle at the first and added eight birdies around a late bogey at Indian Wells Country Club to reach 26-under 262.
Haas won here in 1988 but claimed the last of his nine PGA Tour titles in 1993.
Perry, 41, blitzed the PGA West course, matching the lowest round of his career with a 62 while extending his bogey-free stretch to 54 holes.
He will return to PGA West today and aim for his second win in nine starts following a six-year drought which began after his win at this event in 1995.
Beckman remained the only player in the event with four sub-68 rounds, signing for a 65 at Indian Wells.
He is seeking his second title in 88 starts, having closed his 2001 season with a win at the Southern Farm Bureau Classic.
The event is still wide open as 16 players are within five strokes of Haas.
Among those missing the rare fourth-round cut were 2000 winner Jesper Parnevik of Sweden, Lee Janzen and defending champion Joe Durant, who finished on 36-under 324 last year.