"I think for me to have a chance it will take a round of 64 or 65," said Mickelson. "But I think it's out there.
"A lot of things happen on Sunday at Augusta, and I would never put it past happening again. At this golf course funny things can happen and if you get momentum on your side and you're making some birdies, you can make a lot of them."
Woods and Mickelson, world number one and two, have been paired together for the final round but all eyes will be on 48-year-old
who has the chance to rewrite the record books.
Thirteen years after he lost a play-off for the USPGA Championship to Mark Brooks at Valhalla, the American can now become the oldest champion in major history.
He is two months older than Julius Boros was when he captured the 1968 USPGA title, and two years older than Jack Nicklaus when he won the Masters in 1986.
"I don't want to look at winning - I've got to stay in the moment," said Perry, who has never had a top-10 finish in eight Masters and did not qualify in the previous three years.
Highlights - Mickelson on the 18th
"This course is very difficult and very demanding. I had a tough day today - the first two days felt like I was on vacation, today felt like a job.
"I didn't have my A-game and was struggling. I was nervous and it's going to be a big day for me tomorrow - this might be my last opportunity.
"But I am going to enjoy it for sure. I'm trying for something that will move me up a notch."
Despite torrential downpours and a tornado passing through Augusta on Friday night, conditions were calm by the time overnight leaders Perry and Campbell headed out.
They remained at the head of the leaderboard after nine holes as two birdies gave them front-nine 34s, but Perry edged ahead by birdieing the par-four 10th.
Bogeys on the next two from Perry handed the advantage to
but they were back on terms when Perry two-putted for four on the par-five 13th.
Campbell was the one to make the big error, though, when he found the bunker right of the 16th, left it in and then missed from five feet for a double-bogey five.
Harrington philosophical after third round
He also bogeyed the last, while Perry held his game together to par the last five holes.
Campbell's statistics for the tournament now stand at 10 under par for the front nine but one over par for the back nine.
opened with a bogey but picked up birdies at 3, 8 and 10 before dropping another shot at 14.
However, Argentina's 2007 US Open champion picked up two more shots at 15 and 17 to break 70 for the third day running with a round of 69.
"I'm lucky enough to be in a very good position," said Cabrera. "I haven't been in this position before so I'll try to make the most of it."
Ireland's Harrington is unlikely to emerge with a third successive major after his one-over round of 73 that started with a nine on the par-five second.
Also on one under are
who shot 73 playing alongside Woods, and Garcia
whose disappointing 75 is likely to result in a continued wait for a first major.
The Spaniard cut a frustrated figure as he bogeyed holes 1, 6, 7, 11, 16 and 18 to overshadow birdies on 4, 8 and 15.
Garcia's six dropped shots were all the more surprising given that he had dropped a combined total of just five in his first two rounds.
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