UPDATE 4.30PM: THE names of those who were involved in yesterday's tragic shooting have been released.
Greg McNaughton and his son Tim both died in the incident at The Caves.
Meanwhile Lindsay Hart is in a stable condition at Rockhampton Hospital.
The statement issued by the CEO of the Royal Flying Doctor Service, where all three men worked, said everyone associated with the service was shocked by the terrible tragedy.
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Here is CEO Nino Di Marco's statement:
"All of us at the Royal Flying Doctor Service (Queensland Service) are deeply saddened and shocked to hear the news of this terrible tragedy in Rockhampton.
"The incident that occurred late Tuesday afternoon was a leisure activity on a private property. It was not work related.
"We can confirm that Rockhampton Senior Base Pilot, Captain Lindsay Hart, is in a stable condition and is currently recovering in hospital.
"However, it is with great deal of sadness that I confirm the passing of his much loved fellow pilot Captain Greg McNaughton, and Greg's son Tim (who is an apprentice engineer currently on leave from the RFDS base in Alice Springs).
"Our thoughts and prayers are with their families, friends and colleagues at this time and we ask that everyone respects their right to privacy and opportunity to grieve at this difficult time.
Thank you for understanding."
12.55pm: ONE of the shooting victims from yesterday's incident The Caves was a Royal Flying Doctors Service pilot.
The Bulletin believes the victim was Greg McNaughton. This has yet to be confirmed.
12.30pm: TWO of the three victims of yesterday's fatal shooting at The Caves were employees of the Royal Flying Doctors Service.
The RFDS confirmed on Wednesday it employed two of the men, including the 53-year-old man who survived.
Media Statement from RFDS CEO Nino Di Marco about the Rockhampton tragedy:
"All of us at the Royal Flying Doctor Service (Queensland Section) are deeply saddened and shocked to hear the news of this terrible tragedy in Rockhampton.
"Our thoughts and prayers are with the family, friends and colleagues of those affected.
"We are providing our employees and their families with support and assistance to help during this difficult time.
"We can confirm two RFDS (Queensland Section) employees have been involved. Out of respect to their families no further information will be provided at this time.
"Thank you for your understanding."
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9.50am: POLICE are treating the shooting that killed two men and injured another yesterday as a murder-suicide.
Detective Inspector Darrin Shadlow said the three men were recreationally target shooting on a The Cave's property on Newells Rd yesterday afternoon for approximately an hour prior to the incident.
Det Insp said the surviving 54-year-old male, currently in Rockhampton Hospital, escaped the incident after the first man was fatally shot.
The man sustained a gunshot wound to his arm and a bullet graze wound before calling police at 4.40pm.
Police arrived on the scene about 15 minutes later and after a search of the property located two deceased males near to each other.
The bodies have not been identified officially but police have informed the families of the deceased.
The 50-acre property did not belong to any of the men, the owner is assisting police.
The weapon involved was a registered long arm rifle and police do not believe the incident was pre-meditated.
9.10am: POLICE say two men were shot dead with a long armed rifle at a property at The Caves last night.
Detective Inspector Darrin Shadlow is giving an update on the investigation at the Rockhampton CBD Police Station now.
Det Ins Shadlow said the firearm, which was used for target shooting, was registered and the 54-year-old injured man had escaped the shooting.
He said it is possibly a murder-suicide case, but investigations were continuing.
It is believed the autopsy of the two men will be carried out today.
The victim of last night's shooting remains in a stable condition at Rockhampton Hospital.
UPDATE 6.35AM: POLICE are no longer searching for anyone in relation to a double fatal shooting at The Caves late yesterday afternoon.
Emergency services were called to a property near Newells Rd at 4.40pm yesterday about an injured man.
A 54-year-old man was shot and was in a stable condition in the Rockhampton Hospital last night.
A search of the property led to the discovery of two more shooting victims - both deceased.
Police last night were searching for a 24-year-old male in relation to the shootings.
A police spokeswoman has confirmed this morning that police were no longer searching for anyone in relation to the incident.
Police are expected to release further details later this morning.
Tuesday night: Two people are confirmed dead after a shooting at The Caves on Tuesday afternoon.
Police have located two people deceased following the search of a property on Newell Road, The Caves.
The search followed an early shooting incident at the property where a 53-year-old Rockhampton man was taken to Rockhampton Base Hospital in a stable condition.
A man hunt for a 24-year-old fugitive has been called off following the discovery.
Detectives are currently at the scene and investigations into the incident are continuing.
UPDATE 9.46pm: Police have confirmed they are searching for a 24-year-old male in relation to the shooting of a 53-year-old Rockhampton man.
The victim was taken to Rockhampton Hospital in a stable condition following a shooting incident on a property at The Caves, north of Rockhampton Tuesday afternoon.
UPDATE 8.30pm: One man, aged 53, is in a stable condition in Rockhampton Hospital following a shooting.
Police were called to a residence near The Caves after reports a man had been injured.
Police are still investigating the incident.
UPDATE 7.30pm: Residents have been allowed back to their homes in the Auton-Johnson Rd area.
It's believed that police are still looking for a gunman.
UPDATE 6.15pm: At least one person has been wounded in a shooting near The Caves.
POLICE confirmed one person was being treated for wounds but there was no confirmation of a fatal shooting at this time.
Police have set up a command centre near Johnsons Rd at the Caves.
There had been earlier unconfirmed reports of one person dead and another injured.
It's understood the dog squad has been called in as authorities search for the shooter who is believed to have left the scene.
People have contacted The Morning Bulletin stating there are a lot of emergency service crews in the area.
Some residents in the area have been locked out as police put up blockades.
It is understood that the shooter is in a blue ute and may be armed and carrying ammunition.
5.30pm: SEVERAL EMERGENCY Service crews are on their way to an area north of Rockhampton.
There are unconfirmed reports of a shooting near the Caves.