Race seat or nothing in 2016 for Lotus F1 reserve Jolyon Palmer

The 2014 GP2 champion has spent this year stepping in for Romain Grosjean in a number of free practice sessions on grand prix weekends.

With Grosjean recently confirmed as a driver with newcomer Haas, there is a seat available in the team - set to be taken over by Renault - alongside Pastor Maldonado.

"I would say it is probably racing or nothing," Palmer told AUTOSPORT on his 2016 plans.

"I'm enjoying what I'm doing. Having not been in F1 before, to drive the car as often as I have has been great, and to be involved in a team you learn a lot.

"But having done one year of it, I feel I wouldn't be learning a huge amount by doing another year doing the same thing with the same team.

"I'm flat out for racing next year. There's a chance. It just depends on the outcome of a lot of things."

Despite the situation with Renault, he added: "The people here [at Lotus] know the job I've done and the job I can do.

"I expect the team will stay largely the same, although maybe the management will change, but all I can do is show the people here what I can do.

"I'm definitely ready to be racing in F1. I'll be in the car quite a few more times this season, an unconfirmed amount, which is a positive.

"Every time I'm back in it's a chance to show what I can do, and while everything is undecided, it's a good chance to prove why I should be in."

Palmer appreciates the difficulties, though, of trying to tie up a contract when Renault and Lotus management are looking to conclude their deal.

"It's obviously complicated because there is more than one party to talk to," he said.

"There's not much more I can do when the whole ownership of the team is in question.

"I just have to be the person who takes advantage if an opportunity comes up."