Fine Gael's sitting MEP, Ms Avril Doyle and Labour's Mr Peter Cassells are battling for the third and final European seat in the East constituency.
They have now started a fourth count following the elimination of four of the smaller, independent candidates. The 10,000 votes from these candidates are being distributed.
The Fianna Fáil candidate Mr Liam Aylward looks certain to be elected to the second seat behind Ms Mairead McGuinness Fine Gael who received 114,249 first preference votes and was elected on the first count early this morning.
Currently, Ms Doyle has 71,159 votes while Mr Cassells has 60,231.
Although the Fine Gael camp believe Ms Doyle's 10,928 strong-lead may be enough to push her past the post once further transfers are allocated, the elimination of candidate Mr Justin Barret is expected to strengthen Mr Cassell's position.
Independent Mr Barrett and Mr Clifford T Reid Reid will be eliminated in the next round of counting.
These two candidates have 12,000 votes each, enough to make a deeper impression on the Doyle/Cassells race.
But it's Mr Barrett's decision to cede 25 per cent of his votes to Mr Cassells that could upset Fine Gael's victory bandwagon.
Geographical considerations could also deliver a further boost to Mr Cassell's camp as many of the remaining candidates due to be eliminated are from the Southern end of the constituency, giving him another round of much needed transfer votes.