The Fermanagh assembly member, Tom Elliott, has said he may stand for the leadership of the Ulster Unionist Party.
Mr Elliott, a prominent farmer, has been hotly tipped to succeed Sir Reg Empey.
He told the BBC he was considering his options.
There is speculation Mr Elliott could declare for the leadership before the end of this month.
Earlier this month, the deputy leader of the Ulster Unionist Party, Danny Kennedy confirmed he would not be a candidate in the leadership contest to replace Sir Reg.
Sir Reg announced he would be standing down in the autumn following a disappointing election during which the party failed to win a single seat.
Sir Reg succeeded David Trimble as party leader in June 2005 following a disastrous general election which saw the party going from having 10 MPs in 1997 to just one.