Kylemore Lough could have his next outing in the Kinloch Brae Chase at Thurles on January 19.
A Grade One winner in Ireland last season, the Kerry Lee-trained eight-year-old has run two solid races in defeat this season.
He was a close second to Royal Regatta at Ascot in a Grade Two before looking sure to collect in the Caspian Caviar Gold Cup only to fade up the hill.
"Kylemore Lough will either go to Thurles on the 19th for the graded chase or to Ascot for a handicap," said Lee.
"It was galling at Cheltenham last time out, he had the wind taken out of his sails at the third-last.
"Without that mistake he must surely have nearly won."