Winter and Keanu Reeves starred as teen slackers in the hit 1989 film and its subsequent follow-up, Bill & Ted's Bogus Journey in 1991, and fans have been waiting for a third film ever since.

Back in 2012, Reeves confirmed the duo had been working on a script, but news about the project has since dried up.

Over the weekend (ends15Mar15), Winter, who transitioned from acting to directing in 1993, was asked about the potential sequel after the screening of his new film Deep Web, which is narrated by Reeves, at the South By Southwest Film Festival in Austin, Texas.

He told Yahoo!, "We're really close. We're just about there. In Hollywood parlance, that means we'll either be shooting soon, or it’s never going to happen.

"It's really been us driving the whole thing, me and Keanu and (writers) Chris (Matheson) and Ed (Solomon). So we're producing it and we're actively trying to get it made. We're not tired of it, but I think for our fans, we are eager to stop talking about it and actually shoot the damn thing."