Arnold Schwarzenegger is said to have narrowed his movie come back down to two action thrillers - Last Stand and The Tomb.
Last Stand is about a border-town sheriff who battles a Mexican cartel boss and previously had Liam Neeson attached to star, while The Tomb tells the story of a structural security expert who's framed for a crime and put in a high-security prison that he designed.
Arnie has already announced his plans to return to acting, and Variety reports he has met with The Tomb director Antoine Fuqua, whose previous work includes Training Day and Brooklyn's Finest, and Summit studio executives several times in the past few weeks.
Last Stand is being produced by Warner Bros executive Lorenzo di Bonaventura and dirceted by I Saw The Devil's Jee-woon Kim for Lionsgate.
Schwarzenegger is yet to meet with Jee-woon, but there may be a scheduling conflict with The Tomb as Antoine is about to begin work filming a Tupac Shakur biopic for Morgan Creek this summer.
That would delay the start of production on The Tomb, leading Arnie to look around for other projects.
The Austrian action star's seven-year tenure as governor of California came to an end in January and he announced on Twitter he was ready to got back into acting.
Schwarzenegger recently unveiled plans for The Governator, an animated TV show about a former California governor who assembles a team of whiz kids to fight crime and natural disasters.
There has been rumours he may appear in prequels or sequels to his iconic movies such as Terminator or The Running Man, but he appears to be interested in new material.
Arnie starred in Terminator 3: Rise of the Machines in 2003 and had a cameo in The Expendables last year.