Senior LNP figures have met to thrash out a "seamless" leadership transition, with Tim Nicholls tipped as the favoured successor to Campbell Newman, with Jeff Seeney expected to "fall on his sword".

But well-placed LNP sources were reluctant to name the new party leader, with Scott Emerson and John-Paul Langbroek still considered as alternatives.

But deputy LNP leader Jeff Seeney is expected to resign from his position on Monday to allow the leadership transition to take place without in-fighting or subjecting the party room to a "damaging" leadership contest.

"It's about moving forward now," one senior LNP MP said.

"The deal has been done, and [Mr] Seeney will fall on his sword.  He had no other choice and its best for the party."

The Queensland result remains on a knife-edge, with the latest count showing Labor with 43 seats, the LNP with 39, with four seats still in doubt meaning Robbie Katter and Shane Knuth of Katter's Australian Party and Sunshine Coast independent Peter Wellington could hold the balance of power.

The four seats where both parties hope to win are Whitsundays, Maryborough, Mansfield and Glass House.

The LNP could still conceivably win, but many have written off their chances of retaining government and the MP said thoughts were turning to a "united" opposition.

"They will have half a cabinet who are new and a group of backbenchers who are all new and will probably need the support of someone else to govern and it is a recipe for disaster.  And on the other side of the house, you have a team of experienced members who are united and ready."

But the LNP was still digesting the election result on Sunday afternoon, with many MPs and their staffers "in shock and disbelief".

The party believed it was on track to win until the final two days, when it was too late to change campaign strategies.

Mr Newman's loss was accepted as almost fact following the People's Forum and the "horrendous" Australia Day weekend.

The campaign was derailed when Mr Newman's claimed Labor was being funded by criminal motorcycle gangs, but provided no evidence beyond "Google it".

Conditional electorate promises, where the LNP was accused of "blackmailing" electorates by linking election commitments to MPs being returned, also hurt the party's campaign, as did a farcical press conference that was meant to put the campaign back on track but ended with the government losing control of the message after Mr Newman answered every question put to him, including those on federal issues and the weather, with jobs, the economy and "strong plan".

Annastacia Palaszczuk's GST gaffe, when she failed on raido to answer what the tax rate was during the tail end of the campaign, was seen by the LNP campaign as an "election turner" and Mr Newman was made to ditch a planned last-minute seat blitz in north Queensland to return to Brisbane to capitalise on it.

But the public mood moved in Ms Palaszczuk's favour with many seeing the moment as humanising while Mr Newman was seen as "abandoning" north Queensland in favour of Brisbane.

"[Local Government Minister David] Crisafulli was done then, in that moment," one source said.

"He was cooked the moment that plane turned around."

The LNP also lost Bundaberg, held by Police Minister Jack Dempsey with another two minister's seats, Andrew Powell and Ian Walker, also under threat.

But given the LNP's treatment of Mr Wellington and the Katter Party MPs in the last parliament, there is very little doubt within LNP ranks that their vote would fall on the side of Labor, leaving them in opposition after just one term.

The LNP will remain in care taker mode until a new government is officially declared.