CYCLONE and flood watch alerts have been cancelled for Queensland's south-east coast.
The Bureau of Meteorology has advised earlier today that Cyclone Oma had weakened to a category one system overnight.
She was still expected to move in a south to south-west direction but would likely stay away from Queensland's coast throughout the weekend.
Cyclone Oma will likely intensify back into a category two system later today, with abnormally high tides and dangerous surf conditions expected to continue throughout the weekend.
However, a flood watch issued for coastal catchments between Gladstone and the New South Wales border and adjacent inland areas, including the Albert and Logan rivers, has been cancelled.
A Bureau spokesperson said the chance for potentially heavy rainfall had abated.
"River level rises above the minor flood level are no longer anticipated across the flood watch area," the spokesperson said.
Bureau forecasters could had trouble predicting Cyclone Oma's exact path, with her movements influenced by the develop of an upper trough.
The uncertainty has caused Mirvac to postpone its final Everleigh Food Truck and Movie Festival to Saturday, March 2.
An outdoor screening of the film Wonder complimented with Micasa Burgers was initially scheduled to begin from 5.30pm on Saturday, February.
The event will now be held on Saturday, March 2 from 5.30pm at Everleigh Park.
Mirvac has organised Food Truck and Movie Festival nights every Saturday night this month featuring movies including Finding Dory and Jungle Book at Everleigh.
