The victim, also 24 years old, suffered an eight centimetre deep stab wound to his side/stomach area which penetrated his liver.

He was taken to a Geelong hospital in a serious condition for assessment and treatment.

He has since been released.

Detective Senior Constable Stuart Sims, of the Colac police crime investigation unit, said there was a scuffle inside Sketa's Bar in Murray Street about 10pm Saturday.

It's believed the men got in touch with each other after leaving the nightclub, arranged to meet and that's when a further incident took place.

"Two men were involved in an altercation at a local nightclub located in the main street earlier in the night," he said.

"That fight later continued after they left the nightclub about 1.15am Sunday.

"It's alleged one man produced a knife and stabbed the alleged victim in the side/stomach area.

"We've been informed the stab wound was about eight centimetres deep and the knife nicked the man's liver."

Detective Senior Constable Sims said the 24-year-old Colac man was arrested, interviewed, charged and released on bail to appear in the Colac Magistrates Court on January 9 next year.

The man was charged with recklessly causing injury and other assault-related offences.

The knife, described as a household steak knife, was recovered by police.

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