The hosts are 5/102 at stumps requiring 48 runs for victory while SA needs five wickets to snare the win.
A remarkable Redbacks fightback, spearheaded by Nick Winter (3/23) and debutant Wes Agar (2/41), breathed life into the contest in an action-packed final session of play.
Queensland appeared to be cruising with ex-Test openers Matt Renshaw (24) and Joe Burns (22) steering the Bulls to 0/47 in 12 overs chasing the target total of 150.
Five wickets then fell in the space of 15 balls for just seven runs to leave the hosts teetering at 5/54 as Winter and Agar ripped through the Bulls’ top order.
Marnus Labuschagne (33*) and Jimmy Peirson (22*) dug in for Queensland setting up an intriguing scenario for both teams on the fourth day.
Earlier, a brave final-wicket stand shared between Chadd Sayers (42) and Agar (20) rescued South Australia’s innings from 9/131 to 192.
Sayers swung freely to crush eight fours from 32 balls to help his side to a competitive total, falling just shy of his second first-class half-century.
Agar (4/30) and Winter (4/81) were also the pick of the Redbacks bowlers in the first innings which ended quickly in the opening session.
SA mopped up Queensland’s tail to dismiss the Bulls for 264 in their first innings holding a 43-run advantage.
Play will begin at the earlier time of 9:00am local (9:30am ACDT) on Monday at the Gabba.