Bhullar, with three bogeys and a double bogey, had three birdies in reply.
Meanwhile Shiv Kapur improved on his overnight position with a round of two-under 70 to get to tied 41st up from overnight 51st. Kapur had four birdies against two bogeys.
Ross Fisher will take a five-shot lead into the final round as he looks to secure a first European Tour title for four years. A member of Europe's triumphant Ryder Cup team in 2010, the 33-year-old carded a five under par 67 at Copperleaf Golf & Country Estate to reach 18 under for the week.
Simon Dyson and Spain's Carlos del Moral are a shot further back on 12 under, with Fisher's team-mate from The Celtic Manor Resort Edoardo Molinari in a seven-strong group another stroke adrift.
"If I were to win here it would be a massive confidence boost and a step in the right direction. My primary goal is to get back in the top 50 [of the Official World Golf Ranking] - I've been there before and I feel like I belong there.
Hoey had carded seven birdies in a row during his second round of 65, one off The European Tour record, but was unable to repeat such heroics on Saturday.
