The initial 65 strokes on Wednesday gave the lead and despite a few missed putts, she went around 70 strokes on the second lap of the Faldo Course at the Emirates Golf Club in the United Arab Emirates.
Before Friday's decisive round, she is nine strokes below par.
- I am in a good position and I am very happy with my game, she says.
The scorecard for the day showed 16 pairs and two birdies.
Figures that breathe stability.
To date, Hedwall has not been noted for a single bogey over 36 holes
- I have played very steadily, hit many greens and many times been within two meters of the hole.
Today I had several putts that did not roll in so a result of maybe five wonders would have been more fair, she says on the European Tour's website.
Hedwall has given itself an excellent battle position in the pursuit of the seventh victory on the European Tour.
Johanna Gustavsson is the next best Swede, four under par in total after two 70 rounds.
The round is in progress.
CLIP: Hedwall's hole-in-one turns down the light
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Hedwalls hole-in-one turns down the light Photo: Ladies European Tour on Twitter