GLADSTONE police have charged a 23-year-old man with two counts of unlawful possession of a firearm after a man was shot twice at a Yarwun residence, west of Gladstone, on Thursday morning.
Detective Senior Sergeant Luke Peachey said investigations into the incident were continuing.
Police are yet to locate the knife that was involved when a second man was allegedly stabbed and sustained lacerations to his hand and foot..
Further charges are expected to be laid.
Residents in the area have said they knew something wasn't right when they were woken by yelling early on Thursday morning.
A neighbour, who did not wish to be named, said her family became aware of something happening around 3am.
"There was a bit of yelling and then three ambulances arrived," she said.
The neighbour said a middle-aged lady lived at the property where the dispute took place.
"She's a really lovely lady but we don't know them too well," the neighbour said.
"She's got a number of children. But everyone keeps to themselves out here."
Thursday: Investigations are continuing into a stabbing and shooting incident at a Yarwun residence, west of Gladstone, on Thursday morning.
Police officers from the Rockhampton Scientific Branch and the Gladstone Special Crime Scene Unit spent the morning combing the Flynn Rd property for evidence.
Detective Senior Sergeant Luke Peachey, from Gladstone Criminal Investigation branch, said there had been a number of people at the property at the time of the incident.
"One of the witnesses made the call to 000," he said.
"Investigations are ongoing, but at this stage it appears to have been a family dispute.
"Alcohol appears to have been involved."
Police officers have recovered a small calibre firearm.
SES volunteers spent the morning searching for the other weapon, thought to be a hunting knife.
Senior Sergeant Peachey said those involved were lucky to escape with minor injuries.
A 23-year-old male is assisting police with inquiries.
Charges are yet to be laid.
EARLIER: Police officers are at the scene of a shooting and stabbing incident which took place in Gladstone in the early hours of this morning.
Gladstone police received a call at 2.23am to attend an incident at Yarwun.
A Gladstone police officer said two males had been involved but could not comment on the nature of their relationship.
One man had been shot twice and the other had been stabbed.
Police said a 35-year-old man sustained gunshot injuries to his hip and was transported to Gladstone Base Hospital for treatment.
A 23-year old man received medical treatment for lacerations to his hand and foot after allegedly being stabbed, and is assisting police with their investigations.
Initial reports suggest the men were brothers.
Police recovered the firearm allegedly used during the incident.
Investigations are continuing at the scene of the crime.