A seventeen year old swaggie accepts a lift into Brisbane in a rain storm, slips into a boat to sleep and is abducted by a band of villains who prove to be major thieves. Taken to a secret cave behind Point Lookout he manages to escape via an underground passage in time to lead an approaching police raid, during which the chief villain falls in a deep hole and is taken by a giant octopus. The young man survives, earns rewards for the recovery of the loot and is offered a job as assistant by the man who first gave him a lift.