Federal independent MP Rob Oakeshott won't say whether he intends to stand at the September 14 election.

But he could announce a decision within a month.

Mr Oakeshott, who controversially backed Labor to form minority government following the 2010 election, is facing a tough fight to retain his NSW mid-north coast seat of Lyne.

The Nationals are confident they can take back the seat, lost to Mr Oakeshott following the retirement of former deputy prime minister Mark Vaile in 2008.

"I want to buy some time," the MP told ABC radio on Tuesday when asked whether he would seek re-election.

"When the time's right I will make sure plenty of people know."

Opposition Leader Tony Abbott said the Nationals candidate for Lyne, Port Macquarie gastroenterologist David Gillespie, would be a very tough opponent for Mr Oakeshott.

"He was a tough opponent last time," Mr Abbott told Fairfax Radio.

"But obviously many people up there think that Rob has badly blotted his copybook by supporting and sustaining a seriously bad government."