UPDATE: Liberal MP Rick Wilson is now guaranteed to hold the seat of O'Connor, with 69 out of 103 polling places returned across the electorate.
Pauline Hanson's One Nation candidate Dean Smith has so far recorded a solid vote of about 8.5 per cent.
The returns have been disastrous for The Nationals, with the party currently on less than 15 per cent.
At this stage, Labor's primary vote has barely changed compared to the 2016 federal election.
BREAKING: According to a Liberal Party source, the party is confident Rick Wilson will retain the seat of O'Connor.
The Australian Electoral Commission is currently forecasting a small swing towards the Liberal Party on the two-party preferred vote.
Mr Wilson is currently up slightly on primary votes compared to the last election, as is Labor's candidate Shelley Payne.
The Nationals' candidate John Hassell is currently down by more than six points.
In 2016, Mr Wilson won a second term as O'Connor MP, with more than 65 per cent of the two-party preferred vote.
The massive regional seat includes the towns of Collie and Esperance and the cities of Albany and Kalgoorlie.
The news comes as the Labor Party under performs in eastern state electorates, especially in Queensland.
More to come.