But those actively involved in the formation of the LNP almost a decade ago said any push to split the conservative would be vehemently opposed. They said a return to three-cornered contests (between Liberals, Nationals and Labor candidates) would be an even bigger electoral disaster.

"There's nothing wrong with the ship - the ship is sound. The problem is the captain and the crew and the destination plan," a former senior LNP insider told AFR Weekend.

"Does the Labor party tear itself apart after they have a loss or do they just rebuild?"

LNP president Gary Spence said there was no chance of a demerger in Queensland saying the single party delivered record results at the past two federal elections, winning 22 out of 30 seat and 21 of out 30 seats respectively.

"In the last 10 years there's always someone who wants to talk about it, but there is zero prospect of the LNP even considering demerging and anyone suggesting otherwise is mischief making," he said.

The performance of LNP leader Tim Nicholls and the decision not to put One Nation last are being cited as the biggest issues to be investigated in any post-election review.

One Nation's decision to preference against all sitting MPs, including the LNP, resulted in the loss of about 10 seats. If a deal was struck to not preference against sitting LNP MPs, Mr Nicholls might have had a better shot at winning office.

Senior LNP veterans, including former senator Ron Boswell and former state leader Lawrence Springborg, had been warning about any deal with One Nation up to 12 months before last month's election, but had been ignored by the LNP executive.


The LNP has been out of office for all but five of the last 24 years in Queensland.

Liberal National Party leader Tim Nicholls has refused to concede defeat even though the LNP have so far locked in 38 seats. Even if they picked up the four remaining seats - which is unlikely - they will only hold 42 seats, five short of the 47-seat figure to form government in their own right.

This would require winning over five cross-bench MPs, which could include one Greens MP, to form minority government - a scenario which looks implausible.

Both Ms Palaszczuk and Mr Nicholls did not front the media on Friday.

Of the four seats in doubt, the North Queensland seat of Hinchinbrook is expected to be won by Katter's Australian Party candidate Nick Dametto, giving the KAP a voting bloc of three seats in the new 93-seat parliament.

ABC election analyst Antony Green, who on Friday backed to Labor to win 47 seats and majority government, said he expected the Liberals to take Burdekin and Townsville and the Greens to pick up the inner-Brisbane seat of Maiwar. This would take the LNP tally to 40 seats.