EXCLUSIVE: FORMER Deputy Premier Joan Sheldon says she'd be reluctant to hold another postmortem review of the LNP, unsure of how much weight, if any, was given to her 2015 advice.

Ms Sheldon, AM, co-wrote the Borbidge-Sheldon Review held in 2015 after the diabolical state election slaughter of the Newman Government and its huge majority.

With the Palaszczuk Government tipped to secure a slim majority it needs to form government, rumblings have erupted about a possible de-merger of the Queensland LNP.

Federal Nationals MPs have already outlined a breakaway from the Federal Coalition.

But Ms Sheldon, a former Liberal Treasurer who strongly supported the merger in Queensland, said the LNP structure was not to blame for what looks likely a disappointing loss for the Tim Nicholls-led Opposition.

"I believe that it (merger) is good for the LNP," Ms Sheldon said.

"I firmly believe that we can work better as one party."

She believed the interests of both parties had been taken into consideration in a range of what she felt were sound policies put forward throughout the month-long election campaign, and the LNP should not be a "scapegoat".

"I'm disappointed," Ms Sheldon said.

"I thought a lot of LNP policies were good policies.

"I don't think it's the LNP is at fault as an institution."

She was critical of the shift back to compulsory preferential voting without consultation, in a late-night passing of policy by the Palaszczuk Government.

Ms Sheldon believed the preferences did interfere with the result, especially with One Nation preferencing sitting LNP MPs below Labor candidates in some seats.

She thought One Nation should be "left to be One Nation" and felt that party wanted to take the ascendancy over the LNP as the state's leading conservative party.

The decorated ex-Coast MP and former Liberal Treasurer said the 1998 election, during which One Nation claimed 11 seats, nine of them off the LNP, only to implode within six months, showed the volatility of that party.

"I regard One Nation as something I'd have nothing to do with personally," she said.

Ms Sheldon and former Nationals Premier Rob Borbidge, AO, made 39 recommendations in their 15-page review of the Newman Government's shellacking in 2015.

She felt a number of those weren't being followed through, and said she would be "reluctant to do another review" if called upon again.

"I'm not sure how much notice they took of what Rob and I did last time to be honest," Ms Sheldon said.

"That's just my opinion."

Ms Sheldon said she would not single out what she felt were the causes of the LNP's defeat in Saturday's state election.