Very likely based on Ambrose Pratt's drama, Thunderbolt; Or, Three Days with Thunderbolt, the story is a semi-fictional account of the life of Frederick Ward (aka Thunderbolt). The story sees Ward, a cattle drover and horsebreaker from Windsor, NSW, trying to earn enough money to pay for his forthcoming wedding. His life changes, however, when he is accused of cattle theft and sentenced to seven years at Cockatoo Island. When he eventually escapes, he learns that his fiancée has died of grief. He sets out to get his revenge on society by taking up a life of crime as a bushranger.
The film's narrative includes scenes such as Thunderbolt being rescued from a police trap by a girl of mixed Aboriginal and European heritage, his raid on a country hotel, and his eventual death during a gallant struggle with the police.