It could be days before a result emerges in the Queensland election, amid the possibility that neither Labor nor the LNP will be in a position to guarantee a parliamentary majority.

At the close of counting last night, the ABC's election computer gave 43 seats to Labor, 38 to the LNP and two to Katter's Australian Party (KAP), with another 10 seats still in doubt.

The 93-seat Parliament requires 47 seats for a narrow majority.

Vote counting resumed at 9:00am this morning.

Assistant Electoral Commissioner Dermot Tiernan said about 400,000 postal votes still needed to be counted and could delay the result in some seats.

"That is about 12 per cent of the roll and they have 10 days to come in, so it could be quite a while for those close seats before we can make a firm declaration," he said.

In one of the biggest surprises, One Nation is yet to win a single seat, despite predictions the party would hold the balance of power, although it remains a contender in the central Queensland seat of Mirani.

Both major party leaders spoke boldly and confidently to supporters last night, but while Labor leader Annastacia Palaszczuk went closest to speaking of victory she could still voice no more than hope for such an outcome.

Sorry, this video has expired Nicholls signals he will work with crossbenchers in a hung parliament

Ms Palaszczuk said she believed Labor would get across the line in its own right.

"I remain confident we will be able to form a majority Labor government once all the votes are counted," she said.

She again ruled out deals with One Nation, but was silent on the question of working with the KAP.

"Queenslanders always win when we work together. I will always put Queenslanders first," Ms Palaszczuk said.

LNP leader Tim Nicholls acknowledged his party had failed to win a majority, but suggested Ms Palaszczuk might soon be tempted to break her vow to refuse all deals with minor parties.

"The real question for tonight is will Annastacia Palaszczuk keep her word?" Mr Nicholls said.

'Labor can't resign even if it has no majority'

ABC election analyst Antony Green said there was "a high probability" Labor would not win 47 seats.

"But there's no clear alternative government and in those circumstances the Government can't resign," he said.

Sorry, this video has expired What happens if Labor can't form government in Queensland?

Green said with no obvious coalition of alternate parties, the Liberal National Party could not present the Queensland Governor with an acceptable alternative.

"Unless the Opposition can say it clearly has more seats than Labor, it can't ask to form government."

In that circumstance, Ms Palaszczuk could be forced to concede that making a deal with KAP was her only viable option.

'One of the more complex elections'

Despite Pauline Hanson's bold predictions that her party would take a number of seats in central and north Queensland, support for One Nation did not translate into seats.

Sorry, this video has expired Hanson disappointed, but says One Nation 'here to stay'

Green said the introduction of compulsory preferential voting had a lot to do with that outcome and had created odd results in some seats.

Support for Pauline Hanson's One Nation party has not translated into seats. ( AAP: Mick Tsikas )

"It's one of the more complex elections I've worked on," he said.

Support for the LNP had fallen significantly, often due to One Nation, yet the LNP actually benefited from Labor preferences in some seats.

"It's the weird thing in this election, is that it's the bronze medallist who will determine who gets silver and gold," he said.

ABC political commentator Barrie Cassidy said it was a poor result for the LNP, after Mr Nicholls left open the prospect of dealing with One Nation to form government.

"The problem is this — One Nation got 12 per cent of the vote, but 88 per cent of people didn't vote for One Nation," he said.

"They saw a situation where LNP was flirting with One Nation and they were giving them a certain legitimacy.

"In the end I think the great majority of those 88 per cent who didn't vote for One Nation took the view they didn't want to run the risk of One Nation having some sort of involvement, whatever it might be."