Unexpected departure and my company likes promoting from within. Do I have good odds of getting promoted?

This afternoon, something unexpected happened. Our events and grassroots coordinator put in her two weeks (more like week-and-a-half but doesn't matter much) which came as a surprise to myself and my boss at least. Her last day is May 10. My organization also has a major conference coming up in the next month (mid June, actually). Apparently the last person who held this job left right before the conference also.

I've only been at my job for a little over three months, and my boss and I just had a performance review that was very positive. Like there was basically no "things to improve on" leaving our conversation, everything was very positive. After that review, I told her I wanted to stay in this company for the long haul and I was interested in moving up wherever I could. I got a bunch of other projects that I've been balancing since I got assigned them two weeks ago, but keeping good progress and keeping a balance on my normal responsibilities for the job.

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They like the hire from within at this company, according to my boss and some co-workers, but I'm not sure how to approach expressing interest in the new role. I've only been here a short amount of time, but I have work experience prior to this job and I think I would be good in this opening position. Is it appropriate to ask about the job to my boss, and if so, what's the best way? Do I jump on expressing interest as soon as possible, do I wait until Friday or Monday, or do I wait for my boss to ask me about it?

It all doesn't help that our org's executive director is traveling and in and out of the office a lot so he might not have a lot of time to assess how to move forward with it. What would you do in this situation? I don't know if I'm more nervous or excited and how to approach it.

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